How To Determine Value Of Land In NV – The Art And Science Of Valuation

December 14, 2016

By Larry Crickon

If you own a piece of land and you’re thinking of selling or even just wondering how much it’s worth, then you need to find information about how to determine the value of land in NV. In this blog post, you’ll read our best advice about how to do that…

What You Need To Know First About How To Determine Value Of Land In NV

The very first thing you need to know is: it’s an art and a science. There are many factors that go into the valuation of land and there is never one single number that you can definitively say, “THIS is what my land is worth.” So we’ll give you some of the factors below but be aware that when it comes to how to determine the value of land in NV, you’re really looking at an approximate range.

Market Price Is One Way To Determine Value Of Land In NV

Economists will tell you that the best way to know the value of your land is to sell it. The price that someone is willing to pay is the value of your land. Of course, you might not be ready to sell (perhaps you’re just trying to see how much you can get for it) but certainly the most definitive answer you can get is how much someone is willing to buy your land for. But as you’ll soon see, there are other important factors as well…

Online Prices Shouldn’t Be A Way To Determine Value Of Land In NV

When you’re thinking about valuing your property, one of the first places that many people look is at some websites that claim to give you the value. (Zillow is one such site but there are others.) Use these numbers with caution! They are derived from a number of factors and should only be considered one piece of information in a much larger puzzle. These numbers can be wrong by as much as 50% in some areas.

Agent Market Valuations Are A Simple Way To Determine Value Of Land In NV

Many real estate agents offer free market valuations to homeowners and land owners. So you may consider calling up an agent and asking for a market valuation. The agent will then look at data from similar properties that have sold recently in the area and they’ll use that as a way to help you determine the value of your land. Again, it’s not a perfect number (since factors change) but it’s a good starting point if you are looking to list your property with an agent.

Here’s The Most Important Way How To Determine Value Of Land In NV

The best judge of the value, though, is YOU. Three people looking at the same piece of land will get very different valuations – if one is a farmer wondering how hard it will be to clear the land and grow a crop, and if another is an owner who wants to build a retirement home in the wooded area, and if a third is a property developer looking to divide up the land and develop a subdivision. Each one will value the land according to their needs. So what do YOU see yourself using the land for? (And remember: value is not always a financial number but also includes the time, effort, and potential enjoyment you can get from the land).

If you want to talk about land with us, we’d love to connect with you. Perhaps you have a piece of land to buy or to sell, just click here to enter your info and let us know about the property you want or you own and we’ll get back to you quickly.

4 Top Financing Options for Flipping Houses in Fallon, NV

4 Top Financing Options for Flipping Houses in Fallon, NV

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!

If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.

The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.

Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!

If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).

There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

4 Top Financing Options for Flipping Houses in Elko, NV

4 Top Financing Options for Flipping Houses in Elko, NV

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!

If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.

The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.

Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!

If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).

There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

4 Top Financing Options for Flipping Houses in Carson City

4 Top Financing Options for Flipping Houses in Carson City

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!

If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.

The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.

Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!

If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).

There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

4 Top Financing Options for Flipping Houses in Minden

By Larry Crickon

Flipping houses can cost money. Here are 4 top financing options for flipping houses to help you get started. Use one, some, or all of these financing options to acquire all the investment properties you want to flip!
If you’re thinking about investing in real estate, you have several options… you can rent, rent-to-own, wholesale, flip, and many other options as well! If you’re thinking about flipping, you’re probably looking to acquire an investment property and then fix it up to sell at a higher price. If so, here are 4 top financing options for flipping houses…

Flipping Finance Option #1

You can get a traditional bank loan from a mortgage loan lender like a bank or mortgage company. These are usually similar to the traditional mortgage loan that you might get for your residence: you pay a down payment and “use your credit score” to borrow the rest. Unlike your residential mortgage, you would sell the house to a buyer and then pay off the mortgage quickly.
The biggest drawback to this method is that you can usually only get a few mortgages in your name at once before the banks won’t lend you anymore. That will limit how many properties you can flip at once.

Flipping Finance Option #2

Another way to finance your flips is to partner with other investors so that each of you put in a portion of the total cost. For example, you might acquire a $100,000 property by finding 3 other investors and each of you put in $25,000.
Of course you’ll also need to figure out what percentage each person will invest in the renovations, and what percentage each partner earns at the end. In the example above, the simplest option would be for each partner to invest 25% and then get 25% back but some investors might prefer to be just “silent partners” while other investors might want to roll up their sleeves and do the renovation work!
If you’d like to flip some properties and perhaps want to partner with other investors, why not get in touch with us at (775) 721-2274 and we might be able to give you some suggestions or even make some introductions.

Flipping Finance Option #3

In some situations, you may be able to invest in real estate with your IRA or 401(k). This is a very smart strategy (although you should be aware that there are some restrictions and guidelines — so make sure you talk to an expert who can help you).
There are some significant tax advantages to using this financing option, so it’s one that you may want to consider if you have money available in your IRA.

Flipping Finance Option #4

Seller financing is a very powerful way to finance your investments. Using this method, you by pass the bank and the seller actually becomes your bank! Instead of getting a loan from a mortgage company, you simply get the house and pay the seller a regular “mortgage” payment each month until you’ve paid the entire amount off. Some sellers like this because they want to sell fast and like the cash flow.

Summary

If you’re an investor who wants to flip houses, you probably need to finance the purchase of them. These are 4 top financing options for flipping houses that you can use to acquire as many properties as you want!

You can talk to us at Oracle Property Solutions about how to acquire more properties to flip, or to help you figure out how to invest with your IRA or 401(k). Just click here to enter your information or give us a call at (775) 721-2274.

4 Owner Financing Advantages for Buyers in Reno, NV

By Larry Crickon

If you’re thinking about buying a house, you’re probably weighing so many options right now – what to buy, where, and how to get financing. To help you make your decision a little easier, we’ll outline 4 owner financing advantages for buyers in Reno, NV to help you figure out if this the right way for you to purchase your next house.
Buying a house can be expensive, and might be out-of-reach for most people. Thankfully, there are financing options so you can get into a house that you may not be able to afford otherwise.
One of the best known ways to buy is through bank financing, where a bank or other lending company gives you a mortgage loan. They pay the full purchase price to the seller and then you pay the bank back over a number of years.
Another way to get financing is through owner financing. This is when the owner of the house doesn’t require the purchase amount up-front but rather will take regular payments (just like a mortgage) until the house is paid off.
If you’re wondering whether buying a house through owner financing is right for you, here are 4 owner financing advantages for buyers in Reno, NV…

4 Owner Financing Advantages For Buyers In Reno, NV

#1. You can buy a house even if the bank says no

Before a bank gives you a mortgage, they’ll check your credit. If your credit is pristine, you may get the mortgage; if your credit is anything less than pristine, you probably won’t get a mortgage. But with owner financing, your credit may not come into play so you may be able to get owner financing even if the bank wouldn’t give you a loan. This allows you to get into a house sooner instead of trying to fix your credit first.

#2. There’s no credit impact

You don’t need to have bad credit to get owner financing. There are many times when people want to buy a house but just don’t want to have the negative impact to their credit scores. Perhaps they need to make another purchase, or maybe they are investors who want to buy several houses without impacting their credit; whatever the case may be, owner financing allows you to get into a house while still keeping “room” in your credit for anything else.
Did you know that we do owner financing? Click here and fill out the form to learn more and to see our list of available properties.

#3. Little or no down payment

Many buyers discover the difficult truth that banks require a very expensive down payment, of 5%, 10%, even 20% of the purchase price of the house. This can be almost too much money to save up! Fortunately with owner financing, you may be able to structure the deal where you have little or no down payment to make – essentially you pay back 100% of the house in monthly payments.

#4. Flexible terms

When banks create a mortgage loan, they are forced by their head office to follow fairly strict terms. But when you work with a seller then you can create flexible terms so that are suitable to both of you.
Owner financing has many advantages but these 4 owner financing advantages for buyers in Reno, NV make it a very compelling way to buy a house.

Want to see what owner financing options we have available? Click here now and fill out the form to see what properties we have available and to learn more about our owner financing deals. Or call our friendly office any time at (775) 721-2274.

3 Ways To Value a Rental Property in Reno

By Larry Crickon

If you want to invest in rental real estate in Reno then one of the first things you’ll need to do is determine the value of the property. After all, how else will you know if it’s the right investment for you? In this blog post, we’ll share with you the 3 ways to value a rental property in Reno so you can know right away if you should invest in a property…
When you’re looking at rental real estate to decide whether to invest in it or not, the asking price is just one way to value the property. That’s the price the seller values the property at. Your job, as an investor is to apply some of these 3 ways to value a rental property in Reno and compare it to the asking price to figure out if it makes sense to you.

3 Ways To Value A Rental Property In Reno

#1. Cash Flow Potential

What is the potential income you’ll make each and every month from this rental property? Consider both gross and net so you can more easily calculate whether you’ll be cash flow positive right away. Ideally you’ll want to be cash flow positive (although there might be a strategic reason to temporarily not be cash flow positive).
Have you seen our list of cash flowing rental properties? Click here and fill out the form to check them out.

#2. After Repair Value

When working with a distressed seller, you’ll want to weigh their asking price against the value of the house after all repairs are made. As an example, a seller might be asking $75,000 for a house and you know the after repair value (ARV) would be $100,000. So you need to figure out how much it will cost you to make repairs. If it will cost you $25,000 to make repairs then there’s no profit for you, you so might need to counter-offer to a lower price.

#3. Value To Tenant

This is a surprising and often overlooked way to value your property – what is the value of the property to a tenant? If you buy a low-priced rental property but then learn that it’s far away from anywhere that a tenant wants to live, the property might not be a good investment. So look at the location of the property in proximity to work, shopping, etc., to help you determine whether a tenant will want to stay in your property and how much they’ll pay.

Summary

If all this seems complicated to you, here’s the great news! You can actually skip all the calculations and estimates and just talk to us. We have rental properties with a lot of these numbers crunches already… plus many of them are already cleaned up, fixed up, and ready to rent (some are even rented).
We believe there isn’t a faster way to invest in real estate in Reno.

Want to see what investment properties we have available? Click here now and fill out the form, or call our office at (775) 721-2274.

4 Advantages of Flipping over Holding in Reno

By Larry Crickon

Are you looking to flip real estate? Maybe you’re wondering if it’s better to hold real estate instead. In this blog post you’ll read about the 4 advantages of flipping over holding in Reno…
Are you thinking about investing in real estate? If so, perhaps you’re weighing your options and wondering if wholesaling, renting, or flipping are your best options. If you’re thinking about flipping in NV then here are 4 advantages of flipping over holding in Reno…

Flipping Over Holding — Advantage #1

The first advantage of flipping over holding is the quick turnover of income. You can invest in a flip on the first day of the month, make improvements through the following days, and then sell and be completely done with the property in just a couple of weeks or months.
This is a huge advantage because it means you don’t have to deal with a lot of problems that occur when you hold properties for a long period of time (such as maintenance and upkeep) plus you also get the benefit of generating your income regularly and getting a full return on your investment within weeks instead of having to wait years.

Flipping Over Holding — Advantage #2

The second advantage to flipping over holding is that you don’t have to deal with tenants. Investors who buy and hold real estate usually rent it out to tenants… and tenants come with problems! They don’t pay on time, they forgot to pay, they damage the property, and they sneak out in the middle of the night.
But with flipping, you’re only dealing with wood, nails, and drywall. These are things you control and you don’t have to worry about whether the tenant is going to steal from you.

Flipping Over Holding — Advantage #3

One of our favorite reasons for preferring flipping over holding is your ability to influence the selling price (and therefore your return). You see, with a rental property that you buy and hold, you’re limited by the rental income. You can’t charge more than what a tenant is willing to pay and there’s a limit to how much tenants are willing to pay! (And some areas of the country are even rent-controlled.)
But with flipping, you can knock down a wall or paint the walls or build a fence or add plants… and all to increase the value. and the best part is: the more you do, the more you can typically increase the value.

Flipping Over Holding — Advantage #4

Our other favorite reason for preferring flips over holding is the large pop of income. A rental property gives you only a few hundred dollars each month. You may invest thousands and eventually get it all back but in the meantime you only get a small trickle of cash flow month after month.
But with flipping (assuming you’ve bought low and sold high) you can make thousands of dollars at once. That’s a big pop of income each month!

Summary

If you’re debating about whether you should flip or hold, there are advantages and disadvantages to each. But these 4 advantages of flipping over holding in Reno give you a compelling reason to seriously look at flipping as an option for you.

If you’re looking for properties to flip, we might be able to help you out. We buy properties in Reno and would be happy to see if there’s a property that might work for your flipping needs. Just click here and enter your information or pick up the phone and call (775) 721-2274.