Why You Should Attend the 2014 Economic Summit

As a Las Vegas Real Estate Investor I know that staying on top of trends in the marketplace is the most valuable tool an investor needs to use in order to gain equity in personal portfolios. I have personally added over $5 million in equity to my personal portfolio in the last 2 years alone, as well as helped add millions more for many other investors I have worked with.

How did I achieve this?

Through my constant vigilance in spotting marketplace trends, identifying where the opportunities lie, having the ability to act on the opportunity, and actually taking action to take advantage of that opportunity.

The Economic Summit is an example of the type of conferences and events I frequent to keep abreast of the trends and opportunities that exist in real estate on a local, national, and global level. Investors who attend this year’s annual “Econosummit” will learn:

1. How current geopolitical events will impact investors on a personal level
2. What to invest in and avoid in today’s economy
3. The outlook for interest rates and how it will impact investors
4. The best strategy to make money in today’s real estate market

This year’s Economic Summit will take place on November 15th and 16th, 2014 and will last from 8am to 8pm on both days. It will be held at the Las Vegas Orleans Hotel. Registration is normally $299 but I have negotiated a special rate through the Las Vegas Investment Club for a discounted registration price of only $99!

I encourage all aspiring real estate investors to take advantage of this special offer for this upcoming Economic Summit in November in Las Vegas. By attending the Economic Summit investors can gain valuable knowledge on market trends to help boost equity in their own personal portfolios…all at an incredible discounted price.

I will be there and I hope you will to!

To take advantage of the $99 special registration rate you must RSVP to Kelsey, my marketing coordinator, by emailing her at info@vip-realty-group.com. This special rate is NOT available through the website. Registration is limited to a maximum of 200 people. This will sell out! RSVP today!

For more information on the Economic Summit, please visit: http://www.econosummit.com/

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Great Time to Sell Investment Property in Las Vegas

Since the beginning of 2013 home prices in Las Vegas have risen considerably, even as much as 40% in some locations. This has created a nice equity position for a lot of Investors. As prices slow down to a more reasonable rate, an opportunity exists for Investors to move recently gained equity into larger and more productive properties using the 1031 Tax Deferred Exchange Strategy while also deferring tax liability.

The outlook for the real estate market in Las Vegas is very positive as many projects that were on hold for the past several years are now being completed. New residential builders have begun building new subdivisions throughout the city. Several new water parks have opened up recently in the southern part of the valley, plans for large commercial developments are moving forward, and large developments that were on hold are now being completed. An upward pressure on prices now exists in Las Vegas as demand increases and supply remains low.

Using the 1031 Exchange Strategy the Investor can defer payment of Capital Gains, which is an excellent vehicle to leverage equity while prices are still affordable.

There are some requirements Investors have to take into consideration when utilizing the 1031 Exchange Strategy. These include:

  1. Property must be exchanged like kind for like kind, such as Real Estate for Real Estate. This can be Single Family Homes for Commercial units, Multi-Units, or even Land. Other property can also be exchanged, such as Vessels for Vessels or Aircraft for Aircraft, but this article will focus on Real Estate.
  2. Properties must be held for Investment or in connection with a trade or business.
  3. The Investor must purchase properties of greater value than the property he/she is considering relinquishing.
  4. The Investor must re-invest all proceeds from the sale of the relinquished property into the replacement property.
  5. The Investor must re-acquire debt equal to or greater than debt paid off from the relinquished property, or replace the debt with additional cash.

To take advantage of this strategy, an Investor has to complete the dual parts of the transaction: transferring (sale) of the relinquished property and acquiring (purchase) of the replacement property. The Investor must acquire title to the replacement property in the same manner as title was held in the relinquished property (there may be some exceptions to this rule).

The Investor must meet two deadlines, both of which begin on the date of the transfer of the relinquished property. The replacement property must be identified within 45 days after the completion of the sale of the relinquished property. The exchange must be completed either within 180 days from the date of the closing of the relinquished property, or the due date of the Investor’s federal income tax return together with all extensions.

The Investor must also follow the identification rules to successfully complete the 1031 Exchange Strategy. The replacement of the properties must be made in writing and signed by the Investor. There are two common rules to follow:

  1. Three Properties Rule: three properties can be identified without regard to their fair market value.
  2. 200% Rule: any number of properties can be identified as long as their combined fair market value does not exceed 200% of the fair market value of all of the relinquished property.

By following these steps and taking advantage of the 1031 Exchange Strategy, Investors can utilize the equity gained from increased home prices to purchase more productive properties before home prices drop again and stabilize.

Interested in exploring the advantages of using the 1031 Tax Deferred Exchange Strategy to accelerate your equity position in your real estate holdings? Call (702) 656-3264 anytime for a personal consultation with real estate expert Glenn Plantone, Broker/Owner of Vegas International Properties Realty Group. With particular specialization in Investor clients, property flipping, and HOA Foreclosure homes, Glenn Plantone has a unique and advanced knowledge of the real estate industry and can help transform the current equity position of your real estate investments into a performing and profitable portfolio.

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Latest Update — MGM Signature Towers

It has been a little over three months since my last update on the MGM Signature Condos and I wanted to update my readers on the new developments that have been taking place. Those of you who are on my mailing list will have received a spread sheet I produced that details the profitability of a studio unit purchased recently for $150,000. This same unit was selling for $465,000 at its high three years ago. The spreadsheet shows that purchasing the studio unit for $150K, or roughly 32 cents on the dollar, would result in positive cash flow for the new owner.

In crunching the numbers on the MGM Condos, I have come across an interesting anomaly that I would like to share with you: The one bedroom units that are placed into the rental program have historically generated lower occupancy rates than the studios. Yet they cost about twice as much (the new lowest 1 bed sale has been $185,000), the HOA fees are nearly twice as high ($1000 vs. $500 for the studio), and they only rent for about $40 more per night. Potential investors should keep this in mind when considering studios vs. one bedroom units at the MGM Signature Towers. The one bedroom units are getting close to being a good deal for a buyer that is thinking of either living in it, renting it outside of the MGM rental program, or just holding it as a second home. But the one bedrooms are not as attractive as the studios from a pure investment perspective.

So far, the six lowest price studio sales in the entire project have been transactions that I have been able to negotiate for my clients. I was recently able to broker a deal in which one of my investors purchased a bulk bundle of four studio units at what amounted to $118,000 each. The Mountain View studio units are selling for the $120K-140K range and the strip view studios are now selling in the $140K to $180K range. The higher range would include the studios with a patio. The unit I discussed in the first paragraph that originally comped for $465K and recently sold for $150K, was a higher floor studio with a strip view and also a patio.

The inventory remains very light at this time. Currently, there are only 9 bank-owned foreclosures available in the MGM Signature Condos. 8 of them are studio units and one is a one bedroom condo. There are still quite a few short sales in various stages, but we are beginning to see a lot of short sales reverting back to the bank and becoming foreclosures as the short sale process is very slow and agents and banks are often unable to get them approved before the foreclosure happens.

Because of the light inventory of REOs and the difficulty in successfully negotiating short sales, I am beginning to look at the Trustees Sale in order to purchase affordable MGM Signature units for my investors. We are starting to see many studio units being sold at the Trustee Sale for around $120,000. MGM Signature Condos continue to be a great investment opportunity for those looking to acquire properties and utilize a buy and hold strategy. However, the really good news is that if you are looking to buy and flip, there is the opportunity to make $20,000-$50,000 per condo in a two month period through purchasing MGM Signature units at the Trustees Sale. If you are interested in this opportunity, please contact me for more details.

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Upcoming Nicaraguan Investment Conference

My friend and colleague, Kevin Fleming recently shared with me a project he is involved with in Nicaragua. I have endorsed some of Kevin’s deals in the past and this one looks like it has potential. Costa Rica and Panama have offered great appreciation over the last ten years and it looks like Nicaragua might be the next play in the Central American real estate market. I am including some details below. If you are interested, contact me and I will get you in touch with Kevin.

In celebration of the release of Phase 2 at Seaside Mariana Spa & Golf Resort and the amazing new investment-friendly progress within the country of Nicaragua, Grupo Mariana Family of Resorts is proud to host “Nicaraguan Abundance: Live, Invest and Grow,” December 3-6 at the Intercontinental Hotel in Managua, Nicaragua.

“Nicaraguan Abundance: Live, Invest and Grow” is a three-day business and culture immersion conference tailored for the savvy real estate investor. We will guide you through exactly what you need to know to successfully invest and do business in Nicaragua, allow ample time to network with colleagues, and then be your personal hosts for a day immersed in the sunshine and culture of the New Nicaragua.

You’ll meet a select group of real estate professionals already living and working in the Nicaragua…You’ll check out great places to live…You’ll get all of your questions answered about investment in Nicaragua…

• You learn about opportunities for the forward thinking investor
• You’ll learn more information about our Joint Venture Offerings
• You’ll find out how you can buy real estate in your IRA, 401 (K) or other
qualified retirement plans
• You’ll learn about title insurance and meet approved Nicaraguan Law Firms
from First American Title Insurance Company and Stewart Title Guarantee.
• You’ll meet members of the Grupo Mariana Development Team
• You’ll learn how you can get involved in the country that many are calling
the next Costa Rica.
• You’ll learn how you can participate in fascinating business opportunities
available in one of Central America’s fastest growing countries.
• You’ll discover how you can earn potentially stratospheric returns on
pristine, pure beachfront real estate.
• You’ll see how you can enjoy a tropical lifestyle for far less than you’d
spend at home.
• And many other details…

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