1 of 21 photos Las VegasNV For Sale $535,0005 Beds / 4 Baths
Lovely home in the heart of Summerlin''s Amber Hill community. dramatic open floor plan with living room/family room/dining room/ kitchen combination. Balcony off living room overlooking pool area...
1 of 18 photos Las VegasNV For Sale $348,5004 Beds / 3 Baths
This is a beautiful single story in the heart of Summerlin! Circular driveway welcomes you to a gated courtyard entry! Four bedrooms with a formal living and dining room...
1 of 14 photos Las VegasNV For Sale $325,0002 Beds / 2 Baths
GORGEOUS, single story home in Summerlin! Upgrades throughout including polished Travertine floors, Maple cabinets, designer fixtures, custom builtin cabinets...
1 of 4 photos LAS VEGASNV For Sale $285,0003 Beds / 3 Baths
Gorgeous, single story home in gated Mountains Edge community! Just rehabbed with neutral flooring and paint! Open, single-story floorplan! Sparkling pool in backyard!..
1 of 6 photos Las VegasNV For Sale $174,9004 Beds / 3 Baths
Great two story on a huge corner lot in the southwest! 4 bedrooms, living and dining rooms with hardwood style flooring downstairs. Pool and spa in landscaped backcyard...
Innovative home-financing arrangements that help sell a property defines Creative Financing.
Do creative financing techniques really work? They have probably have all worked somewhere for
someone at least once. The point isn't if they will all work for you. The point is to know what is
possible, so you can find your own creative ways to invest in real estate. Below are several creative financing methods.
Land contracts are a great way to purchase real estate and without using a mortgage company. They are sometimes
called "contract for sale". This means the seller lets you make payments, and delivers the title upon
payment in full. Sometimes sellers will do this because they can charge a higher interest, and higher price.
You can also finance a Las Vegas real estate transaction using hard money lenders. They specialize in short-term
loans at high interest. You typically use this type of financing for real estate you are going to purchase
and sell quickly such as a fixer-upper. Often, you can get
the money fast. The interest rate might be higher than a typical mortgage company but buyers who use this method
normally don't keep the property for a long time and are hoping to turn a quick profit.
Friends and family are a great way to finance Las Vegas real estate if you make sure to keep it all business.
Another method of creative financing are No-doc and low-doc loans. No (or low) documentation of your
income or credit required. Again, you can find banks that do these online now. The catch is that
you will only be able to borrow up to 80% of the purchase price or property value. If you have 10% in
cash, you might be able to borrow the other 10% from a friend or the seller.
Seller-carried second mortgages. Sometimes a bank will loan you 90%, and allow the seller to
take back a second mortgage from you for 5%, leaving you needing only 5% for a downpayment.
Note Las Vegas real estate buyers. The seller needs cash. He raises the price, and sells to you for $100,000 with no money down,
taking back two mortgages from you for $90,000 and $10,000. He arranged (or you did) for a note buyer
to pay him $80,000 cash for the first mortgage at closing, getting him the cash he wanted. You pay
two payments now, one to each note holder.
Get a loan on other property. Interestingly, if you take out a home equity loan for a vacation, and then
forget to use it for that, you can use it for the downpayment on an investment property, without
violating the rules of the bank that gives you the primary mortgage. In other words, you got in
with no cash of your own.
Partnerships. For bigger projects, you could arrange for five investors to each put money into a partnership,
with your share being the management responsibility instead of cash.
As you can see, creative financing when buying Las Vegas real estate comes in many shapes and forms.
Try innovative home financing arrangements, land contracts, partnerships and friends and family. You'll be in a
Las Vegas area home before you know it!
Seller-carried second mortgages. Sometimes a bank will loan you 90%, and allow the seller to
take back a second mortgage from you for 5%, leaving you needing only 5% for a downpayment.
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