Flipping Homes Las Vegas Style
By Mark Hostetler
Published 07/19/2007 | Real Estate
The home flipping craze has reached epic proportions and has lead investors all across america to try their hand at flipping homes for profit. But, to be sure; flipping a home is not as simple as it may seem and needs to be carefully planned at every step. Execution of that plan is the key to successfully flipping a home. now, in order to make this plan you are going to need to know a few things, specifically the state of your local real estate market and how it is currently fluctuating. If the market is slow then this may not be a great time to venture into the flipping market. However a slow market is a good time to pick up properties for a flip as sellers will be more open to deals as the slow market may be worrying them.
One of the most complex aspects of flipping a home is predicting how the market will be when you are ready to sell the home. If you area has a "hot" season for home sales then you should try to structure your renovation and sale around that season. Purchase the property ahead of time so that you can take care of any renovations and have the home in pristine condition by the time the "hot" season rolls around.
So what should you do to the home to improve the chances that it will sell fast and you see enough profit to justify the project? Well that depends on you and how much you have to sink into the project in terms of time and funds. If you don't have too much operating capital then you will likely be looking at doing mainly cosmetic upgrades. Cleaning the home properly, updating the paint and wall coverings and replacing appliances and fixtures that are old and out of date. It really is amazing what this kind of TLC can do for an older property that has seen better days. Of course you will also want to make sure that the home's plumbing and electrical systems are in good repair. If you are thinking about sinking a bit more money into the home then think about things like renovating the kitchen and bathrooms. I know it sounds like a bit of a broken record but new kitchens and bathrooms sell homes. Now get out there and flip!
Mark Hostetler is a certified Las Vegas Realtor:® who is known in the community for his honesty and hard work. Mark's knowledge of the Las Vegas real estate
market is invaluable in the purchase or sale of a new home or condo.For more information contact Mark
or visit him on the web at www.welcomehomenevada.com.