Check out 👀 this efficient fix and flip investments from one of our Las Vegas borrowers. The property was acquired in July 2023 for $300,000 and transformed into a gem before hitting the market again in January 2024, fetching a handsome $395,000 upon sale. The investor’s secret? An unwavering commitment to efficiency. With tight margins and low inventory dictating the landscape, every penny spent counted. Through strategic planning and meticulous execution, the flip was completed on a remarkably efficient budget, underscoring the investor’s adeptness in navigating today’s challenging real estate terrain.
🏡 Market Update 🏡 The Las Vegas real estate market has now seen 6 consecutive months of slightly increasing home prices after a rough end to 2022 and start to 2023. Las Vegas saw the median home price drop by about 10% from October of 2022 through May of 2023, but since then it has been trickling upwards to the tune of 2.3% from June of 2023 through December of 2023. And while it has still not recovered from the peaks seen in 2022, a stable or slightly increasing market is much better market for investors to predict safe exits on their fix and flip investments. As is the case with most markets, inventory has fallen off steeply in Las Vegas since 2022, and this is affecting the prices and there is enough demand to force the prices up slowly. (see graph).
We will continue to monitor the real estate prices and inventory closely in Las Vegas to provide valuable information to our investor partners.
At Lantzman Lending there are few ways we can help you maintain your business in a tight inventory market:
- Fast approvals w/ no appraisal and quick closings so you can make aggressive offers
- Cost effective and efficient renovation draws for fund control with no physical inspections or draw fees, and next day draws after request so you can get your renovations done quickly without unnecessary delays.
- Responsive and knowledgable staff that are there when you need us to discuss your next deal and to get you an approval letter
Let’s talk about you next investment (702) 930-5626)