Sunday, August 05, 2012

Las Vegas Real Estate Investors

 One Man's Trash Is Another Man's Gold!

Recently, I discovered there are outstanding opportunities for my investors to make between $20,000 to $90,000 on distressed homes. With the profit margin rapidly narrowing in that price range, I am seeing a few people foolishly over paying for these homes and getting into multiple offers for homes in my personal opinion are not worth the value after all your costs of repairs and renovation. 

Once I started re-exploring & re-evaluating the market, I realized that the average real estate investor in Las Vegas/Henderson are buying homes that are 30k-120k properties and what I am finding is, that part of the real estate market is rapidly disappearing and decided instead of competing with others in this price range, why not move up to a higher price range with higher profits?

Currently, there are thousands of homes in Las Vegas/Henderson and every home is a different opportunity in itself. If you need assistance in identifying these property(s) and you are an investor are looking for a real estate agent with an experienced team in Las Vegas to assist you with your properties feel free to call 702-217-1680, and ask for Steve Harless.


HOMEBUYING TIPS:
To protect yourself, investors should expect to pay about $3.00/sqft to rehab a home.
In order to estimate your profit margin, before placing an offer on a property ask these questions:

1.How much cash are you comfortably prepared to spend?
2.Are your recent financial documents from the last 30 days available in order to show the banks that you can afford the home?
3.How long do you want to own the property?


A good example of a flip property that we would go after -(see photos below)

There was an asking price of $350,000. This 4,100 sqft home on a acre of land in the southwest part of Las Vegas had been on the market for sometime.

Once you got past the stench and odor of the home, one starts to think that this was an exciting opportunity to take a negative, and turn it into a positive situation...After reviewing the comparative market analysis, the investment group and I decided to offer a substantially lower cash offer.










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