Hello all you RE experts out there. I would like to know where in the US these days is there a good market to fix up & flip properties...? Thanks

Asked by Noamofan, New York, NY Sun Sep 19, 2010

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Larry J Cruz, Agent, Las Vegas, NV
Sun Sep 19, 2010
BEST ANSWER
Depending where YOU want to live, almost anywhere in the U.S. would be a great buy right now. However, according to a lot of my colleagues in New York, Miami, Utah, and California it seems to be about the same in those States as well. Now, Vegas has a different market however compared to other States only because we don't pay State Taxes. I have a numerous amount of clients that have moved here from other parts of the U.S. because of that simple subject. So again, it really depends on what you're looking for as far as your criteria's. I in the last 3 months have had 5 different Investors from all over come to Vegas to purchase Bank Owned or Trustee properties and Flip them right away. And they have had great success in doing so with some great returns. I hope I was able to answer your question in full? Good luck on your journey. If I can be of any help please feel free to contact me.

Larry J. Cruz
HORIZON Realty Group
702.767.3612
http://www.LCruzSellsVegas.com
ljcruz127@gmail.com
0 votes
Leo Vekslin, , Las Vegas, NV
Sun Sep 19, 2010
There are some amazing deals here in Vegas Inventory is HUGE, July and August sales were down, so there are lots of price reductions. If you'd like more info, please contact me directly.
Leonid Vekslin
Golden Real Estate & Investments
702-538-6253
leovek@aol.com
1 vote
David Cooper, Agent, Los Angeles, CA
Wed Jul 17, 2013
CoreLogic reports Las Vegas, NV Leading the USA in Real Estate Home Price Gains! 30.5% gains in 1 year.

Check "Trulia Blog"Las Vegas, NV Best Weekly Real Estate Investment Opportunity Newsletter for Detailed Investment Stats

David Cooper. Since 1994 - Helping You Buy Your First House or the Perfect Investment
http://www.lasvegaswinner.org
702.499.7037
0 votes
, ,
Wed Jul 17, 2013
Have you been pre approved? It's a great place to start. I also have foreign national products available if you need them. Call me, or click the link below, and I will be more than happy to guide you through the process. I look forward to hearing from you.

http://thenationalrealestatepost.com/find-a-professional/mor…

Thank you for choosing City First Mortgage Services,

Nathan T. Kessler | Mortgage Loan Originator
City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
nathan.kessler@city1st.com http://www.city1stlasvegas.com
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
0 votes
Patty Gjestv…, Agent, Henderson, NV
Sat Sep 25, 2010
If you would like to see some fix up property listings for Las Vegas / Henderson, send me some detailed information about yourself and I can send you some property information and pictures.

Patty Gjestvang, REALTOR,/Prudential Americana Grp
pgjestvang@yahoo.com
http://www.vivalasvegasrepos.com
0 votes
Sandy Van, Agent, Las Vegas, NV
Thu Sep 23, 2010
There are many homes in the las Vegas area that are at a deep discount. In an article in the Las Vegas Sun, the article stated that in some areas local homes are experiencing a double digit increase in property prices.

There's are many factors to look at when purchasing a house for investment. You could buy a house at foreclosure sale, but you would have to see whether or not the house is occupied. There are rules against flipping homes that are foreclosed upon that are currently occupied. God forbid, that you purchase a houses, and the tenant is not cooperative in moving out, and you are involved in a lengthy eviction process. In addition, of course you would like to see how much rehab costs are, how long homes are taking to sell in that neighborhood (thereby affecting you holding costs and opportunity costs), and of course the or ice they are selling for. If you are purchasing at foreclosure you will need to purchase with cash. You will also have to be patient, and hold firm with your purchasing criteria, there are a lot of bidders bidding against you at Nevada Legal News where the sales take place.

You can also purchase short sales, however short sales are not as great of a deal as foreclosures. Possibly 15% discount. Many of the same factors above apply with regards to short sales. However, there are pros, you can usually see the house with regards to a short sale, whereas with a foreclosure, you might not be able to see the house before you bid on it.

Please contact me if you require my services or have any other questions.

Sandy Van
702-334-2488
sandyvan702@Gmail.com
Keller Williams Realty Marketplace I
Terri Robinson team
0 votes
Dp2, , Virginia
Sun Sep 19, 2010
You're asking the wrong question. Your request should have been: please help me find some properties that I may acquire according to my buying criteria to rehab/flip.

Before anyone could realistically recommend any locations, one would need to know what kind of return you want, how much you plan to spend, etc.

Additionally, before consulting with any agents, you probably should reach out to some of the REI clubs in several areas. Many investors (myself included) network with other investors and other real-estate pros there. Although I invest in multiple areas, and could give you a list of cities on the spot, that list would be a hunk of junk if you're unable to get the returns that you want/need in those cities.
0 votes
, ,
Sun Sep 19, 2010
Money is made on both sides of the market (up or down). The Las Vegas market has surely been noted over the last several years for both. Now cash investors are in our market with loads of cash purchasing property and flipping, rehabbing and flipping.

Roughly, 42% of all sales are being purchased for cash and many are being sold (flipped) within 120 days of purchase. On the closing statements I read from purchasers I'm writing loans for, you'd be amazed at the profits I've witnessed being made on these transactions. Las Vegas should be on your radar without question.
Web Reference:  http://www.Darrell-Evans.com
0 votes
Bob McClure, Other Pro, Walled Lake, MI
Sun Sep 19, 2010
good evening...i have a program that might interest you..please let me know if you are interested..in investing in oakland county, michigan...
best regards
bob mcclure
mortgage one
brighton, michigan
0 votes
Karla Wagner, Agent, Bonney Lake, WA
Sun Sep 19, 2010
It depends on what you're looking for...but definitely would investigate prospective areas with a local area professional. Las Vegas, NV and Phoenix, AZ might be good places to start. Good luck
0 votes
Maureen Cody, , Charleston, SC
Sun Sep 19, 2010
Dear Noam,

Chalreston SC has a high inventory of homes for sale - with the right research you could find a suitable home to purchase and resell.

Charleston SC is becoming a vey popular destination for relocation!

Let me know if I can be fo help.

Regards,
Maureen
0 votes
RelocationPro, Agent, Las Vegas, NV
Sun Sep 19, 2010
Every market has advantages and disadvantages. For example, you can find some great deals in Las Vegas, NV right now - you just need to figure out the ROI on the property and go from there. It is a buyer's market currently, so almost everything is up for negotiation.

I have attached a link that has some great return on investment formulas. I hope this helps.
0 votes
Scott Miller, Agent, Boca Raton, FL
Sun Sep 19, 2010
Hi Noam. South Florida. Buying near universities is always a smart idea:

http://www.trulia.com/blog/scott_miller/2009/03/the_best_rea…

Southeast Florida is booming. My company closed over 980 transactions in the past 6 months alone.

GOOD LUCK!

Scott Miller, Realty Associates, Boca Raton, FL
0 votes
Tina Encheva, Agent, Las Vegas, NV
Sun Sep 19, 2010
Every market is different ,so you need to consult with a Realtor for the local market.
Las Vegas is a great buy right now.
0 votes
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