Las Vegas Developer Targets Real Estate Investors by Offering Positive Cash Flow

Share Article

Founders Developments Inc, developer of the Chapel Hill condominiums in Las Vegas, has announced that they are now actively courting real estate investors. And to do so, they are offering huge buying incentives that could create a positive cash flow for up to four years according to their projected income estimates.

Contrary to most local Las Vegas condos communities that are targeting owner occupants and second home buyers, Founders Developers Inc is opening the doors to investors in its Chapel Hill community. Located off Interstate 215 at Russell Road, Chapel Hill lies in the southwestern portion of the Las Vegas Valley close to the Red Rock National Conservation area. Nearby Red Rock Station, the area's newest luxury local's casino, houses a large variety of retail shops and restaurants, a movie theater complex, a spa and the Cherry nightclub. The condo project is also close to Southern Hills Hospital and several neighborhood eateries and shops.

But besides a great location, the developers are also offering a guaranteed fixed income for two years, two years of prepaid homeowners association fees, two years of prepaid taxes, two years of prepaid property management fees, and 2.5 percent towards closing costs. The property management fees include all repairs and maintenance during the two years, so there are never any out of pocket cost to the owner for tenant damages.

In addition, the units will be rented out and the tenant's actual rents are paid ON TOP of the guaranteed fixed income. (The guaranteed income paid by the developer for a one bedroom unit is $915 per month. The monthly rental would also be $915 per month for a total of $1830 per month income.) Tenant rents are also pooled so that no owner has to worry about his individual unit going un-rented. Records indicate that Chapel Hill's occupancy rate has been at a steady 98% since 2001.

"This is a real opportunity for those buyers who want a piece of the Las Vegas real estate market," said Ron Smith, regional sales manager for the project. "Chapel Hill is welcoming investors with this spectacular promotion."

There are three available floor plans in the Chapel Hill condos, ranging from 775 square feet to 1,024 square feet, and each unit comes with a one car garage and a one car carport. Kitchens are fully appointed with oak cabinetry, breakfast bar, pantry, microwave, dishwasher, oven/stove range, garbage disposal and a frost-free refrigerator with ice maker.

"Our kitchens are designed for usability," Smith said. "We want our buyers to be able to live comfortably in their homes."

Other features include 9-foot vaulted ceilings, ceiling fans, walk-in closets, full-size washer and dryer, private patio/balcony, storage closet and monitored fire alarms in each home. The gated community also features a putting green, acres of lush landscaping and a resort style clubhouse that includes a pool and spa, plus a health and fitness center.

Prices range from approximately $185k to $255k and there are only 75 units available on this special promotion. A deposit of $1,000 holds a unit (up to 10 days) until the contract has been reviewed by the buyer. To request more information, including floor plans, plot plans, available units and projected income statements, please contact our office at 702-985-7654 or fill in our online form at Chapel Hill Registration.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Visit website