On average how much $ needed for a flip in Las Vegas?

[Angel Flores]

Hello all, 

Brief background of myself - Im an agent in Las Vegas. Im on BP in hopes to find a business partner, whom is hoping to achieve the same goals as myself. I've got about $35k in capital that I can use to invest as well as a credit card line of $25k to help with rehabs. Im aware the normal routine is 20%+ down on an investment property + Rehab costs, etc. I am looking to flip property and once my capital begins to build up, jump into several rentals during the process. I know this number varies depending on rehab costs, but on average in this market, how much are most of you spending out of pocket? Just curious as I feel that I need more in reserves in case of an emergency or blindside, and therefore, is why I am looking to partner up with somebody. I also know several ppl who are on board to become a private investor, just need some skin in the game with flips.  Any tips, suggestions and recommendations on how you got started is appreciated!! thanks all! 

[Brandon Carriere]

Welcome, 

I'm an agent here in Vegas as well..  These numbers and answers will be all over the board..  Everybody and their brother are here in town trying to do the same thing..  Margins are sooo slim, that even the better deals have to run perfectly just to make a razor thin slice of the pie..  On top of that, the market is peaking, so less natural gifted appreciation will occur, so the purchase price and value add will be even more critical..  Properties are tough to find unless you put in the intense labor of finding them yourself..  The big guys seem to be everywhere else