How Long Can the Flipping Game Last in Las Vegas?

Working with investors, I have developed a strong track record of selling and buying over 235 properties during the past year and a half right here in Las Vegas. Like a lot of investors, you're probably wondering how long “flipping” will be possible; some say one year, some say five, and no one can say with certainty. The true key to successfully investing in Las Vegas real estate lies in working with an agent who knows the process from the inside out.

The term “flipping” generally applies to buyers who purchase a property or properties, and then immediately put the properties up for sale, looking for a fast turnaround and quick profit. A licensed Las Vegas real estate agent can accurately evaluate the fair market value or profit potential of a property. Buying properties and selling for a quick profit requires exceptional negotiating skills, and an in-depth market knowledge gained through experience.

Some flipping is illegal when the house is quickly resold for a high price when minimal repairs have been made, yet the house is appraised at too high a value. However, flipping houses to make an honest profit can be a great way to make money in the current economic downturn. There are three primary considerations for investors thinking about flipping houses:

• You're looking for a property that is selling for much less than it would be worth if it were in great shape, so think about repairs. Look at properties which require comparatively simple and inexpensive repairs to increase their value. These things might include bathroom updates, wall repairs and painting, or wood flooring that needs to be polished.

• Once you've assessed the necessary repairs, consider how long it will take to get the repairs done. Smart investors don't want to be locked into mortgages for homes when flipping houses. The idea is to buy a house, fix it up, and sell it as quickly as possible to turn a profit.

• The final of these three thinking points is whether you will make a clear profit in the end. You will buy the house, invest money in it to fix it up, then sell it. Your profit should clearly exceed your investment. Buying a house for $100,000, sinking $10,000 into it for repairs, and then selling it a few months down the road for $125,000, means a profit of $15,000. The risk can, obviously, be well worth the effort!

Now is a great time to flip houses in Las Vegas. I am Yonas Woldu, and I can help you find the perfect investment property in Las Vegas, anywhere in Clark County. For the personalized attention you want with selling or buying property in Las Vegas, Green Valley, or other areas of Clark County, contact me today. And be sure to visit my Vegas Real Property website. I am committed to working with you. I will do the legwork, finding the perfect investment property for you. As the real estate market continues to flex, you will find that I am dedicated to helping you in every way possible.