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Davidkang, Both Buyer and Seller in Las Vegas, Las Vegas,...

Fix and Flip in Las Vegas by an investor in California

Asked by Davidkang, Las Vegas, Las Vegas, NV Wed Apr 18, 2012

I am looking for a good experienced realtor who can help me to fix and flipSFRs in Las Vegas.
Please give me some ideas of possible scenarios.

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Answers

34
WHY in the world would a real estate agent that knows of a potential $30,000 profit on a $100,000 house (30% below market) give it away for a 6% commision which he has to split with his broker, when he could make $30,000 vs. $3000. It just doesn't make sense.

I could find a money partner or hard money lender in a heartbeat if I could get that kind of profit.

This is starting to sould like real estate seminar pitch where you can become rich buying and flipping, and it only costs you $5000 for my "secret" course.


DAVID COOPER Trulia Voices INVESTOR-BUYERS AGENT
VIP Level 3 Congratulations! You're a Level 3 VIP
CALL NOW! 702-499-7037
email: http://www.facebook.com/davidcooper.lasvegas
Since 1917 Realty & Property Management - Jay Rosen,Broker 702-739-8820 - Yesterday at
2 votes Thank Flag Link Thu Apr 19, 2012
That market it's probably best to fix rent and hold. Flipping in Las Vegas is not a wise idea. My opinion.
1 vote Thank Flag Link Wed Jan 30, 2013
I see you have gotten many quality answers. The only thing I would highly recommend is do not pick an agent who tells you it is easy or that they guarantee x y or z. The only way to even attempt this is at auction so also if planning on flipping vs renting make sure to not be buying anything on the open market ( easy to explain why on phone vs paragraphs of writing). Rental option you should expect 8_12% returns minimum after PM fees. I average over 11% for my clients. As well unless you are planning on flipping many in town at the same time just know with the small margin it may not have the returns you may be expecting. http://www.VegasRealtorJoe.com
1 vote Thank Flag Link Thu Apr 19, 2012
Its a very tough market for that, maybe you could buy to rent out .
1 vote Thank Flag Link Wed Apr 18, 2012
David: The fix and flip market is oversaturated already. 86% of all Foreclosure Auctions are returned back to the back. Less than 2% are sold to new buyers. There are potential government forclosures thru the Homepath program, but they have over 1000 Las Vegas subscribers, and these guys have been doing it for years.
I hope you didn't pay money from some seminar guy, cuase Las Vegas prices are surging as of 6 weeks ago, and inventory is tight.
Most of Cal investors are buying $45,000 condos 2+2 and gettting positive cash flow of $200 to $300 a month.

Thats's what happening from an investor ofr 35 years who has a buyers agent license at
Since 1917 Realty & Property Management 702-499-7037 David Cooper
1 vote Thank Flag Link Wed Apr 18, 2012
Wow. So many negative responses. You CAN fix and flip. NOT for the ridiculous amounts you see on TV...just like it's not to likely you'll find a perfectly preserved issue of Superman #1 (actually Action comics) perserved for sale at a garage sale or in someones attic. Yet I hear this still does happen.

If you have the time, expertise and capital to address deficiencies ranging from missing air conditioners, water heaters, repair broken windows or wiring, then you can make a tidy sum.

If you'd like to know more, call me (702) 682-2002.

Jeff Burnham - "The Wizard"
Encore Realty Group
Jeff@VegasREWizard.com
0 votes Thank Flag Link Mon Mar 11, 2013
Are you still looking for a partner?
0 votes Thank Flag Link Wed Feb 27, 2013
I need a partner. I have too many opportunities than I can handle.

Call me 702-580-9198

Phil
0 votes Thank Flag Link Tue Feb 19, 2013
How much experience do you have in fix and flip?. Not as ez as the TV show or the weekend seminar makes it seem


David Cooper Investments and Property Management
http://www.lasvegaswinner.org 702.499.7037
0 votes Thank Flag Link Tue Feb 19, 2013
I need a partner. I have too many opportunities than I can handle.

Call me 702-580-9198

Phil
0 votes Thank Flag Link Tue Feb 19, 2013
Hello David.. I personally have purchased at auction and flipped for a great return on my investment. I also have several clients I've worked with that have bought and flipped too. Please call, text, or email me to find out how we can both reap the benefits of this great investment strategy as Notice of Defaults have increased dramatically and now there are great opportunities again,

Thank you for your business,

Monk Boyer
http://www.monkboyer.com
702-768-8444
monkboyer@realtyexecutives.com
0 votes Thank Flag Link Mon Dec 24, 2012
call me 7029898080 I am a real estate broker here in vegas.
0 votes Thank Flag Link Sat Dec 22, 2012
The only scenario currently would be you buy and hold. Flipping would be literally a waste of your energy because for every 1 you might profit on there will be 2 you break even or lose if you are focusing on short term. Let me help you buy and rent ( I am a property manager ) like I do with many other investors and get 12% NOI for a year or two and then sell for the major profits you are looking to ontain. http://www.VegasRealtorJoe.com
0 votes Thank Flag Link Mon May 28, 2012
The Las Vegas market is "red hot". Get in now and watch the appreciation in 1 year give you the potential profit you need. Iyt's more important about the location of the property than buying the cheapest in a bad neighborhood if you want to maximize profit



DAVID COOPER Trulia Voices INVESTOR-BUYERS AGENT
VIP Level 3 Congratulations! You're a Level 3 VIP
CALL NOW! 702-499-7037
email: http://www.facebook.com/davidcooper.lasvegas
0 votes Thank Flag Link Mon May 28, 2012
Ellen is right on the mark. It is VERY difficult to flip right now and even the most seasoned fix n flip investors are having a rough go.

I went to the trustee sales last month and stuff is moving at market value there.

Buyers are STILL very price sensitive and I am finding their threshold is about 10-15% above closed prices on the most prime homes.
0 votes Thank Flag Link Mon May 28, 2012
This is very true, beware of mold!
0 votes Thank Flag Link Sat May 5, 2012
David Kang: The market for decent 3 bedroom homes with flip potential is getting smaller and smaller. Investors already familiar with the Las Vegas market are bidding on everything below $80,000. And they are paying CASH!


DAVID COOPER Investor with Buyers Agent License at Since 1917 Realty 702-499-7037
For the latest Las Vegas News follow us on FACEBOOK http://www.facebook.com/davidcooper
0 votes Thank Flag Link Sat May 5, 2012
Easiest way to do this... Do it yourself. Good Luck :)
0 votes Thank Flag Link Fri May 4, 2012
Distressed short sales, the home handy man project house that never got finished and isn’t worth a 10th of what’s owed on it and the owners are getting divorced and both moved out and the neighbor kids had a smash party inside,the house nobody wants! even the bank dosent want it, There is value in getting a home out of Short Sale, banks don’t allow you to resale for 90 days because they know releasing their lean increases the "sale ability" of the property.
So that’s my idea buy Distressed Short Sale.
Caution not for the weak at heart.
Jerry Stepke
Souza10.com Realty
7780 S Jones Blvd. Ste 104
Las Vegas NV 89139
Direct (702) 808-4888
jerrystepke@yahoo.com
0 votes Thank Flag Link Thu Apr 26, 2012
I do not believe it is the right time to flip at this moment. It is a market that is now having bidding wars for what is left available. We have limited supply and very high demand (which has not been the case for many years). There was a law put in place last year, making the banks provide trail of title, and has caused quite a hold up on putting them into the system. But the days of beating the bank up for a "steal" are over, in my opinion. If you were the banks, would you sell these homes for less than market value if you found a way to make more money by limiting supply? This is not a new concept. It has been a cyclicle real estate move by banks and government over the history of our banking system. It is a GREAT time to buy, and make a GOOD profit, but my reccomendation is to consider other options aside from "flips" I put a listing up last week, it recieved multiple offers within hours, and every one was over list prive, so over 50k above the list. You do NOT have room for a profit margin if you go this route. However I have some very clever suggestions for you, to invest now, and still make a great profit, and will discuss via phone or email.

702-631-8585 or
ellenredd@msn.com
0 votes Thank Flag Link Wed Apr 25, 2012
21 Year Veteran..............I specialize in trustee sale flips.......we take most investors start to finish.........purchase....rehab....placing tenant to get max profit at flip.....to closing......featured homes can be seen at http;//buyonlineinvegas.com

I have a real estate team of 65 agents..............we feature our listings on this exclusive bidding site plus 50 other sites-search engines like Google, Yahoo & realtor.com

You listing gets seen by thousands daily.............

Most of our flips are sold in less than 14 days..............usually sold with in my agent network.

In 2011 We received two National awards & 6 Regional awards.

Kevin Ogden
Team Leader-National Recruiter
Exit Realty "The Infinity Group"
702-325-7434
Private Fax: 702-948-5106
exitdreamteam@gmail.com



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0 votes Thank Flag Link Thu Apr 19, 2012
I worked on a flip team where we would fix and flip 200-300 homes a year. I currently work with other investors who also fix and flip. It's true that finding deals has gotten much more difficult recently with the recent legislative changes. There are many different approaches to fixing and flipping, and I've worked with investors who prefer to just do paint and carpet, as well as investors who replace everything, including cabinets throughout. We can discuss an approach that you feel comfortable with, or we can adjust our approach based on what's available in the market.

I'd be happy to discuss your situation with you if you want to touch base with me. Thanks,

Aaron Anderson
(702) 773-1608
aaron.anderson22@gmail.com
0 votes Thank Flag Link Thu Apr 19, 2012
Hi David,

I would suggest you go to http://www.revestor.com to review the properties potential returns prior to purchasing.

Mark DeWitt
National Residential
858-212-7054
mdewitt@natresdirect.com
0 votes Thank Flag Link Thu Apr 19, 2012
You can call me at 702-289-7263 my name is Randi Orzoff and this is what I do. We would get properties distressed below market value. Fixing and flipping owrks great! Just HUD homes are a steal.
0 votes Thank Flag Link Thu Apr 19, 2012
" there are still opportunities to buy and flip. Large percentage of my clients are buying properties below current market that are in need of major repairs. In most cases the properties are 30% below"

Really, I must be looking at the wrong MLS, the HUD Properties, the Government Foreclosure List, the Sherrif's Auction List, the Bank REO list....I like to make money in investing first, and helping others get good deals. At 30% off, I'm keeping that puppy for myself.

But, I am willing to be informed. What list can you find such below market properties.

David Cooper Since 1917 Realty 702-499-7037
0 votes Thank Flag Link Thu Apr 19, 2012
Hi David,

With the current market changing and short inventory, there are still opportunities to buy and flip. Large percentage of my clients are buying properties below current market that are in need of major repairs. In most cases the properties are 30% below. Although, it is getting harder to find these properties today.

We provide full service AAA+ "One Stop Shop" that offers experienced and professional service that includes a team of professionals and certified: Appraisers, attorneys, building inspectors, property management,title/escrow companies,insurance agencies, Certified Tax advisors (CPA), translators, Contractors/small repairs and more.

Let my knowledge and experience work for YOU!

You can also search for all the homes for sale in Las Vegas at http://www.cvegashomes.com

Contact me at 702-612-7099

Rena Levy
Broker/Associate
Realty Executives
702-612-7099
cvegashomes@gmail.com
Web Reference: http://www.cvegashomes.com
0 votes Thank Flag Link Thu Apr 19, 2012
Hi David,

I am an investors realtor in Las Vegas. I'm a believer and know Las Vegas is full of great deals, I contract them every month! However, I will put you in contact with another local investor I work with to discuss Las Vegas scenarios, so that you get a true idea of what to expect. With inventory decreasing and many houses needed "extreeme makeovers" you must write alot of offers and be diligent to get the price you want. Please Call Tina at 702-480-9745. She is a wholesaler, rehabber and licensed interior designor - after speaking with her if you are still interested, you can give me a call.

Valerie
702-353-3819
0 votes Thank Flag Link Thu Apr 19, 2012
Hello,

Our team has extensive experience with this... Feel free to call me at 702-625-3202 for a informative conversation....

Dale
0 votes Thank Flag Link Thu Apr 19, 2012
If Buy and Flip were still possible in Las Vegas, most of the real estate agents would be doing it instead of splitting commissions on $45,000 condos. If the agents telling you it still could be done, I would suggest they take one of "guru" courses cause they will be promised who whole lot more money for less work.


DAVID COOPER Trulia Voices INVESTOR-BUYERS AGENT
VIP Level 3 Congratulations! You're a Level 3 VIP
CALL NOW! 702-499-7037
email: http://www.facebook.com/davidcooper.lasvegas
Since 1917 Realty & Property Management - Jay Rosen,Broker 702-739-8820
0 votes Thank Flag Link Thu Apr 19, 2012
The inventory has gotten smaller in Las Vegas.There's still a great opportunity for any investor who is willing to get involved with properties that need a repairs.

Larysa Dombrovska
ZipRealty, Inc.
127 E Warm Springs Rd #B
Las Vegas, NV 89119
dombrovska@yahoo.com
Toll Free: 1.800 CALL ZIP x5728
Cell: 702.379.3662
SearchLink: http://lead.domlar308.las.mlxchange.com/
0 votes Thank Flag Link Thu Apr 19, 2012
Good morning David.. I have done this personally and and have clients that have flipped and fixed with me. Since AB 284 was instituted in Oct. 2011 ...NOD'S and the auction process have slowed considerabally. There's still a great opportunity in the next few months when the banks start foreclosing again.

Monk Boyer
Realty Executives of Nevada
1925 Village Center Cr. #150
Las Vegas, NV 89134
Cell 702-768-8444
monkboyer@realtyexecutives.com
http://www.monkboyer.com
0 votes Thank Flag Link Thu Apr 19, 2012
There are still some very good deals to be had for any investor who is willing to get involved with properties that need med. to heavy repairs. I was involved with buying at court house, renovating properties then fliping for many years so I know that business. We currently manage over 350 homes/condos for our investors and only have 12 to 14 vacencies. We get our properties for our investors from a veriety of sources which I can share with you via email or phone. I can handle every aspect of your deal. Much of the traditional sources and court house steps have a lot of investors or competition and inventory is droping. There are still great deals to be had. We've been in business for close to 20 years. I also have a strong remodeling background so I can help you with every part of the deal no matter how involved. If you decide to make home a rental we can manage property for you as well. Please call.

Matthew D’Ercole
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
0 votes Thank Flag Link Thu Apr 19, 2012
If possible please call me tomorrow to discuss all the many variables that go into an endeavor such as this currently in town. My contact info can all be found on my website @ http://www.VegasRealtorJoe.com I would love to help in every way possible.
0 votes Thank Flag Link Wed Apr 18, 2012
Go somewhere else and do it like Pheonix . It's a little late to jump into that market . Should've jumped in a few years ago . .goodluck
0 votes Thank Flag Link Wed Apr 18, 2012
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