Trident Investments Group was created to help people who may not be able to qualify to purchase a home today to have other options available to them so that they can either buy in the near future or with larger down payment they can own today via one of many creative financing techniques.
The founder Kevin Dunlap moved to Las Vegas in January 2004 owning a different company called Trident Realty and Investments which was a North Carolina based company. The contacts he had in Las Vegas opened his eyes up to the world of seller financing. Shortly thereafter when these contacts disbanded Kevin stepped back and started to work with Lease Options (a.k.a., Rent to Own). The reason for this was that the lease option requires a much smaller upfront payment and thereby allowed him to work with a larger group of people.
In mid-2004 is when he started to work with helping clients get into a one year option so that they could buy a home soon. This was also the time frame when housing prices were increasing dramatically across America including Southern Nevada.
In later years Trident changed their techniques with the lease option program to accommodate the current real estate market. To this day Trident continues to make changes in order to help more and more people realize the American dream of home ownership.
Recently, Trident has again evolved back into helping people with different forms of seller financing to add more opportunities for people.
Trident helps buyers in three main ways.
- Standard Lease Option Program - There are two versions of this program. One is where we have an interest in a home and are marketing those homes ourselves. We may be direct owners, we may be partial owners, or we have an agreement with the seller or the seller's agent to market the home on specific terms. You can see that list by clicking here or below.The second version of this program is where the founder Kevin Dunlap being a Nevada real estate agent and Realtor will help search the local Multiple Listing Service (MLS) and search homes that other agents. Once we find your buying criteria then he will create a search on this system locating other homes that are For Sale or For Rent where the seller is open to doing this kind of process.In either case the average requirement is between 3 - 6% of the purchase price of the home to secure your option. This is known as an Option Payment.
- Home Today Program - Trident Investments Group and Kevin Dunlap has built a relationship with another local company that will actually pay cash for a home and then do a lease option back to you over the course of the next 4 years. This gives you time to get your financing together so that you can actually purchase and gain ownership.Since they are cash buyers this allows more choices of homes for sale that you can pick from. Typically in the For Sale section of the Las Vegas MLS there are between 1 in 200 - 300 homes that will allow lease options. In this program since the buyer is actually a cash buyer all 200 - 300 of those homes are at your disposal. This gives you a lot more choices. However, they do require a much larger down payment than what is seen in the Standard Lease Option Program.
Typical down payments (or option payments) are 6 - 8% of the purchase price of the home. They do charge additional fees and do increase the price of the home. You must make an appointment with them and they will determine what is the price point for you.
Once you are pre-qualified then you contact us and Kevin will become your buyer's agent.
- Seller Financing - This is the third and yet more powerful way of getting into a home. In this program the seller of the home becomes your bank. He or she will finance you just like a bank. The interest rates tend to be higher than a normal bank would charge so you must be okay with that. The interest rates we have experienced are typically from 6% at the lowest end and 12% at the highest. An 8% interest rate would be normal.
The benefit to this program is that you actually now own the home yourself. You are on the title and you can do whatever you want with the home. There is no landlord as in the first two cases.
Typically the down payment is 20%, although we have seen as low as 10% and as high as 50% depending upon the seller and the home. Normally these are principle and interest loans amortized over 30 years. In almost every case we have seen there will be a balloon payment between the 5 0 - 10 year mark. A balloon payment means at that point in time you must pay off the loan in its entirety. The best way to avoid such a huge payment when that last payment comes due is to have already refinanced or sold the home to another person.
There are variations and terms are negotiable on the Seller Financed deals.
Contact us today to see which is the better program for you.