Why we Love Flipping Homes in Las Vegas

Many people may think that flipping real estate in Las Vegas right now is a big risk, and we do agree that the market has changed. Gone are the days where long lines of people waited to purchase a home, and those high prices of 2008 have dropped substantially – but the good news is that the same houses people were clamoring for in the early 2000’s are still available, and still attractive. For a good investor, this means the potential for profit is still there, and possibly better than ever, if done correctly. Now that the emotion and panic of the skyrocketing prices of before has faded, you can make solid financial decisions based purely on facts. The mistake people made buying during the bubble, is buying based on emotion. We don’t make that mistake, and this is one of the key reasons we keep our faith in the Las Vegas market.

What to keep in mind if you want to flip in Las Vegas?

First, of course, you want to do a market analysis to determine the going prices for properties in the area in which you are interested in. Las Vegas has a lot of popular areas for buying and flipping real estate, but they’re all a little different in their own way – you should have a good idea of which areas are your favorite, and zero in on those, first. For example, we prefer the Henderson area of Las Vegas, and while we’ll look at properties anywhere, Henderson holds a special place for us, and those properties sometimes take priority. Once you find a specific home and fall in love with it, your knowledge of the area will help you make better judgements as to the true value of the property – taking into account things like local amenities, community features, schools, and zoning information. Remember to stay smart, and only offer within the price range that you know that property can sell for; the worst thing you can do is buy based on emotion and love, because you could end up stuck with a property that you can’t sell fast enough. Do you love the property enough to own it in the long term? Try to rationalize your decision making process and only buy homes that you both love, and that will turn a profit. Your opinion on a particular home is just yours, and everyone has their own opinion. In the end, it’s the buyers that wins out every time, so try to follow some common trends in investing, and stick with properties that sell for top dollar.

Why we love Las Vegas

We feel that Las Vegas is a unique market with a special kind of inventory that spans nearly all tastes and styles. We have great opportunities in everything from vintage art-deco style homes, to stylish lofts, high-rise condos, spacious ranches, luxurious mansions, and elegant single family homes with plenty of style. Though the inventory varies, we have more choices than ever in terms of style, which means we can offer a variety of homes to suite even the most discerning or eclectic tastes. Most of the newer (and many of the older) homes in Las Vegas have all the amenities – like upgraded kitchens and bathrooms, luxury fixtures, and personalized flooring options, which really helps draw in buyers. Whether they’re drawn in by the lure of stainless steel appliances, granite countertops and kitchen islands, or luxurious bathrooms with double sinks and vanities, the Las Vegas market seems to have something for everyone. Landscaping varies from sparse rockscapes, to effervescent desert landscaping, tropical beach entry pools and lush lawns – we don’t think it can get any better.

Las Vegas also has a unique draw for every kind of person, from tech startups like Zappos bringing in young developers to the growing downtown scene, to retirees from the midwest and East, business professionals buying their vacation homes, college students drawn to some of the excellent hotel and business management programs at UNLV, or families looking for their first (or second, or third) home in some of our boutique neighborhoods, like Anthem and Summerlin. Las Vegas brings in all types of buyers, which means we have literally endless possibilities in the business of selling and flipping real estate: with such a diverse market, we can cater to almost anyone.

Investing in Las Vegas

Investing in Las Vegas can be hit or miss. You have to really know what you’re doing to turn a profit in our market, but if you have the capital and the passion for your work, you can turn huge profits in almost any area of town. We have the options to invest nationwide, and we stick with Las Vegas because some of the great opportunities available to us in all areas of real estate, and community growth. We encourage investors and buyers alike to give our blooming markets a chance – often you’ll be pleasantly surprised at what you find.

Author: CT HOMES, LLC