Frank Becerra's Q&A

You can find properties that can give you 7-10% ROI and better in this market in Las Vegas, it's just a matter of drilling down into your needs and finding them. My investors have been able to do it with foreclosures as well as short sale (a lot of patience). Turn key properties are not uncommon.

January through July is the best time to sell, there are plenty of buyers and the houses have multiple offers.October thru december, people concentrate on upcoming holidays and as a result there are fewer buyers.You decide when you are ready, and check your credit with a lender not just one of those websites where you pull your own credit, there may be things that you can do while you figure out what and when you want to look. The changes you make can save you money over the next 30 years, if you are getting a mortgage, and the mistakes you make can cost you for that long also.

Just an Update, I spoke with the lender and they are now limited to Canadian buyers only.

Like it or not, the value of your property is determined by your neighbors and depending on if you are doing an automated estimation such as the one provided here or one inperson your results will be different. If there has been a lot of foreclosures that closed all of a sudden and no recent sales, the begining number could have been off especially since some comps could be as much as a tear old, and no one likes to go over 60 days in a declining market.

A lot f lenders could probably help you, they may still have the numbers to some. The loans now require the appraisers to be cloaked in secrecy and cannot be contacted or influenced by the lender. A third party has to hire them.

There is a foreign investor loan available, it's already a second home, I would imagine that it would work for rental if you contact me I can find out. I do know you cannot live in the country.

There is a program that allows you to finance a house 12 months after foreclosure or short sale considering that you did not damage your credit in any other way. Have a look at my profile if you want to get in contact with the lender.

Cash offers take priority over financing unless you are in competition with others and they think they can get more from a financed. If you are looking at homes under 100,000 40% are cash so there isn't much advantage, and if you are looking at homes below 40, they are all cash, no advantage.read this blog before you offer.

If you know what you are buying.....There are a couple of type of buyers in the auction. Those that know what they are buying, say investors and the rest of the buyers. Most people are lured by fliers that talk about homes that are worth 300,000 (2005-6) being offered for a starting bid of 5,000.At these auctions aside from the 5% premium, you have to consider that they are not absolute auctions, in other words if you are the winning bid at 7,000, the bank still has a final say as to weather they want to sell it for that. They will likely negotiate with you, and if you don't come up to what they want you will likely not get the home.In our market we are seeing fewer and fewer auctions for reasons reflected on this blog post Las Vegas is a big auction.

Squatters have rights, and as a result they have to be evicted according to local laws.Once it is vacated they will likely make it available again.