Why Rent?

I met a person the other day who asked me to help find her family a rental property because her landlord was going into foreclosure. Her current lease is for $1,200 a month for a 3 bedroom/2 bath. I asked why was she looking to lease again. There are several homes in her same Las Vegas neighborhood selling for around $100,000. I explained that if she purchased one of those homes, her down payment could be very similar to her deposit for a rental, she would have a tax write-off, she would have the pride of home ownership, would not have to worry about her landlord being foreclosed on, and her MONTHLY PAYMENT WOULD BE LESS THAN HER MONTHLY RENT!!! She asked how could this be? Assuming she purchased a home for $100,000, 3.5% down for an FHA loan, 6.250% rate, and 30 year term, her monthly payment would be a little less than $600.00!!! She is now working with a lender to secure a preapproval. We will then find her a Las Vegas home of her own.

Buzz Burns and I will be holding another open house event in Las Vegas. This is one of Coldwell Banker Wardley’s listings listed by me. The address is 3004 Wilmington Way, Las Vegas and we will be here from 12 PM to 4 PM on March 2, 4, and 5. You can call me, Dale Duyan, for more information on this or similar properties at (702) 403-0797 or logging on to http://www.daleduyan.coldwellbankerwardley.com/.