Investing in Las Vegas Distressed homes makes a lot of sense to many investors. One hallmark of the Las Vegas Real Estate for the last 6-9 months has been reducing inventory and increasing competition for homes, especially Las Vegas Homes in the “investor sweet spot” of $75-150K price range.
Investing in Las Vegas Distressed homes makes a lot of sense when you factor in how competitive our market is. You can avoid the crowds…….
Investing in Las Vegas Distressed Homes
Many investors are overlooking some absolute great bargains as they scan potential investment homes – if the home is not visually appealing, needs some repairs and/or is run down they are passing immediately. Their oversight can be your gain.
As Warren Buffet frequently points out going contrarian in an investment scenario can make a lot of sense and money. We think this holds true for Investing in Las Vegas Distressed Homes – dare to be different to generate a greater reward!
The savvy investor can look at a distressed home and tell if it is a complete and total repair or just needs some minor work. Minor repairs such as carpet, wallpaper, counters and cabinets may cost some money but should not be show stoppers!
But, they aren’t major repairs. The latter category can include: new roof, major structural damage, mold or dry rot and/or plumbing problems – these are “get out the calculator” and talk to a reputable contractor (we have trusted contractors we’ve used for years) before you make an offer.
Pass or All In
Your ultimate decision on investing in Las Vegas Distressed Homes has to stand on your confidence in how much your repairs will cost versus the savings you are making on the purchase price.
Also, if you can locate a distressed home in a great neighborhood this may help to sway your decision; or, convince you to at least take a harder look at investing in Las Vegas Distressed Home!
