Flipping homes in Las Vegas is not as common as it used to be, but it’s still a lucrative business.
The Las Vegas Valley is the second best place in the country to “flip” a home, in which buyers quickly sell their newly acquired houses for a profit, according to a new report from RealtyTrac.
The research firm, based in Irvine, Calif., defined a flip as buying a home and then selling it up to six months later.
There were 4,341 such sales of single-family homes in the valley last year, down 21 percent from 2011. The average purchase price was $133,198 and the average sales price was $203,945, giving the flippers a 53 percent gross profit — $70,746.
The profit percentage was second highest in the country. Orlando, Fla., was first at 63 percent, according to RealtyTrac.
Author:Brenkus Buyer Phone: 702-752-0044 Dated: May 5th 2013 Views: 595 About Brenkus: ...
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Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
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