Las Vegas market inquiry

[Everett Marshall]

Hi everyone. I was sitting in my living room watching flipping Vegas and a light goes off in my head. I have friends in Las Vegas, we could jv deals in Vegas. Is there anyone currently doing deals in that area? My question to you is, How good is the market for wholesalers, really? Hold no punches on the answers please. 

[David Schach]

That TV show is staged and for all intents and purposes is faux reality TV. Nothing in Vegas exists like that. Margins are squeezed extremely thin on flips. I havent come across a single wholesaler thats showed me any deals that werent already on the MLS or priced at market value. Its not 2011 anymore, and from what my research is telling me, its a buy and hold environment because prices are still decent, not great, and interest rates are so LOW. Getting a home that might be 10-20% over priced at 3.75% on 30 yr fixed that can cash flow nicely isnt the worst thing in the world.