There are 3 essential Las Vegas Investing Strategies which primarily depend on your current location and experience. The other factor determining your strategy would be your financing. You can’t get a loan to rehab a property.
“Local With Rehab Experience”
Flipping would be an excellent strategy if you focused on properties that are at the “low water mark.” The low water mark for January 2015 is about $85k. Purchasing these properties and putting about $15k in them will enable you to sell them in about 6 months for a profit of about $15k. You can save a ton of money by doing many of the light repairs yourself and staying on top of your crews.
“Local With No Rehab Experience”
Unless you have a close member of the family who will hold your hand during the rehab, you will probably get your clock cleaned if you attempt to flip a property. The best strategy for you would be to purchase a property between $85k and $130k and rent it out or lease/option the property. The time to sell will come later.
It is not practical to live in Las Vegas for 2 months while you wrestle with a rehab. Finding good vendors is no picnic and you need to evaluate how much your time is really worth. This is no time to learn hard lessons. Again, the best strategy for you would be to purchase a property between $85k and $130k and rent it out or lease/option the property.
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