Fix and Flip project in Las Vegas

[Luis Minero]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $260,000
Cash invested: $52,000
Sale price: $440,000

We purchase this property from a wholesaler in North Las Vegas for 260k. We renovated the property and invested 52k in the rehab to renovate the property. We funded this deal through a Hard money lender and had one of our private money investors provide us with the 20% down to purchase this property. After all expenses and paying off the Hard money loan and our private money and all closing costs fees, we netted about 60k on this deal.

What made you interested in investing in this type of deal?

I'm a flipper in Las Vegas and looking to connect with local wholesaler and agents.

How did you find this deal and how did you negotiate it?

The wholesaler brought this deal to us and we agreed to buy it for 260k. The wholesaler made 15k on this deal!

How did you finance this deal?

Hard money and private money (Gap funding)

How did you add value to the deal?

We renovated the whole property

What was the outcome?

We sold the property at 440k with only 2 days on market

Lessons learned? Challenges?

Making sure we're buying properties at a nice discount and don't underestimate the rehab!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Feel free to reach out to me if you need to find agents or HM lenders in Las Vegas area