Las Vegas condo flipping for a profit

Please stop for a moment and grab a pen and paper to jot down some notes as you consider the following questions.

Form 2003 through 2005 flipping anything to do with real estate made some people great money.  Interest rates were low, credit was easy and demand for getting in on the real estate market frenzy was high.  Everybody was making money in flipping anything to do with real estate.

Since then the fundamentals of the market have changed.  Interest rates have begun to climb, the mortgage companies have new rules under the guidance of the secondary mortgage market that is worried about Buyers ability to meet the payments on their exotic variable rate loans as interest rate continue to climb.  And the frenzy for buying anything real estate has cooled.

On the positive side of the market Las Vegas is creating new jobs at a rate of more than 5% per year growth.  The Las Vegas economy is one of the best in the Nation.  The baby boomers are flocking here in record numbers for second and retirement homes.  The business climate is diversifying as we see more and more corporations relocate here.  And land is getting harder to find to develop.  Some experts predict that Las Vegas will run out of available Federal land to develop in as soon as 6 ½ years.  The international sector of the Las Vegas real estate market has grown vastly in the last 5 years.  And all economic predictions thus far see a continued economic growth pattern for Las Vegas for the next ten years.

If your going to buy a condo unit and then flip or sell it when it is completed we need consider your risk verses benefits very carefully.  Some units may still lend themselves to a potential margin of profit while others may result in disaster.
Give me a call and let’s discuss your desires concerning the risk vs. benefit and your investment needs.

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Prudential Americana Group, Realtors®
Max Schmidt P.C. dba Max Schmidt
Broker/Salesman
871 Coronado Center Dr., suite 100
Henderson, Nevada 89052
(702) 334-2200

Las Vegas condo flipping for a profit