The recent credit crunch and rapid decline in home prices in Las Vegas has created an environment that is once again ripe for successfully flipping properties. I have been acquiring properties at the Trustee Sale in Las Vegas, performing very light rehab, and then immediately flipping them for a modest profit. In many cases, the people buying the houses are investors looking for a turn key property that they can begin renting right away for strong positive cash flow.
I have now completed this process with almost a dozen properties and it has been a win-win-win situation for all parties involved...the third party being the transactional funder. My transactional investors are receiving returns of over 100% annualized on their money!
Here is a recent example:
We purchased a townhome at 9122 Dancing Snow for $62,500. After closing costs, repairs, and costs to sell, we were into the property for $68,651. I was able to sell the property to a happy investor for $74,995. This resulted in a profit from the flip of $6,344. The funder, who had invested $65,000, was repaid in full plus their funding costs of $1,900 in 10 days! This resulted in an annualized return of 108% on the investor’s money!
If you would like to review all the details of this transaction
CLICK HERE.
Here is another example:
We acquired a 3 bedroom/2 bath townhome at 6868 Skypointe for $66,500. The property sold in 7 days for $79,995. This resulted in a profit on the ip of $9,156. The investor put $68,000 into the property and was paid $1,360 for their funding. This represented an annualized return of 104%.
In case you are wondering what kind of investment this made for the investor who purchased the property...once purchased for $79,995, the unit was rented for $975!
If you would like to review all the details of this transaction
CLICK HERE.
If you are interested in transactional funding, please contact Glenn for
more information.
(702) 769-9872
gsplantone@gmail.com
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