Condo Flip Just Off of Las Vegas Blvd

[Robert Adams]

Investment Info:

Condo fix & flip investment.

Purchase price: $170,000
Cash invested: $187,000

Distressed condo off of South Las Vegas Blvd that was on the MLS.

Property is currently list for $225k

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

I knew I could remodel it and relist it and still price it very competitively in the zip code.

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

On MLS... Distressed condo off of South Las Vegas Blvd that was on the MLS. Was listed for $179,900 and it was the cheapest 1 bed 1 bath condo in the entire zip code 89123. I was able to negotiate the price down to $172,000.

How did you finance this deal?

Self Direct IRA Funds

How did you add value to the deal?

This one was a full remodel top to bottom. The systems we all in good shape and functioning so I just tuned up the HVAC but no major expenses there.

What was the outcome?

Listed for sale $225k

Lessons learned? Challenges?

Buy in Q4 when market is soft. Look for under valued listings within certain niche.