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Buying a Fixer Upper House in Las Vegas

Buying a Fixer Upper House in Las Vegas

 

Real estate terms, you’ve heard plenty of them, but may not entirely know what some may mean. One good example of a common, but often misunderstood, real estate term is “fixer-upper house”. If you’re planning on owning one of these houses, here’s some important information you need to know.

 

Definition

 

First, what is a “fixer-upper”? Simply put, a fixer-upper is a property that needs to be repaired or fixed. Owners can redecorate, redesign and reconstruct any aspect of the house.  However, most of the time, this house can be used as it is. Buyers who are interested in raising the property’s value, after they have fixed or repaired it, will be interested in these types of houses. This practice is also known as “flipping”, flipping the value of the house through renovations and repair.

 

Any time is a good time to buy a fixer-upper house in Vegas, but, depending on the condition of the house, it could also mean more expenses on the repairs. Sometimes, the damages are minimal, which makes it easier to save money.

 

The Cost of Repairs for a Fixer-Upper

 

fixer-upper home

Buying a fixer-upper house can be a good investment, but how much does it cost? Truth is, prices may vary since some properties may need more repair than others. In order to know how much it will cost you, it’s best to have the house undergo a proper assessment. This can help you see if improvements make sense, given the price you bought the property at.

 

What Is the Best Kind of Fixer-Upper House to Buy?

 

First-time fixer-upper buyers usually want a property that’s in good condition and has minimal damage to fix. However, the best kind of fixer-upper is the one that has peeling wall paints, torn and worn carpets. In short, houses that have these kinds of problems are the ones worth buying. These types of properties can be easily fixed and turned back into a pristine condition. These types of house are the ones that usually sell like hot cakes in the market.

 

Not All Fixer-Upper Houses Are the Same

 

If you are new to buying fixer-upper houses in Las Vegas, it is important to understand that not all houses are the same. Not all properties are profitable in the future once they’ve been repaired. Before jumping right into buying a fixer-upper, here are a few important things you should know:

 

  • Location – It is important that you keep the location of the house in mind. You don’t want to buy a house in the middle of nowhere, right? It would be a hassle for you and your buyer. Keep in mind that location is important, so as you go around and look for houses, make sure that it’s at an ideal location. Near an intersection or close to a landfill? That’s a no-go! A house that is located near or next to a school is also a big no. In short, look for a house that is located in places that are desirable. Ask yourself if you would like to live in that location if you are going to sell it. If you can’t see yourself living in such a place, what makes you think that your buyer would? Makes sense, right?
  • House’s layout – Always check the house’s configuration. This will help you determine if that three-bedroom house is appealing to buyers or if they’d want something else. The layout of the house is just as important as its location. Buyers will always look at how a house looks on the inside and whether or not it is a practical purchase for them. A fixer-upper house that has a bad layout may mean more difficulty selling, so make sure you check it well. Also, consider the type of buyers you are targeting. What works for couples without children may not work for those who have children and vice versa.

 

Let’s Talk About Vegas

 

Las Vegas is notorious for its busy nightlife, casinos, and strip bars. Thus, the name Sin City was coined. While the state is known for being a gambling haven for many tourists, a lot of these people seemed to be enjoying the place and have even found themselves buying properties. Now, this sounds like a good idea, but have you asked why a lot of people are purchasing fixer-upper houses there? If you are planning to get one in the future or already looked into it, here are a few good reasons why you should have one in Vegas:

 

It’s home to many rich people as well as luxurious houses. In fact, Las Vegas has been growing rapidly these past few years. In a few years time, the value of a property will skyrocket. With the ever-increasing population and people moving to this part of the state, it’s not surprising that a lot of them will be looking for a place to stay temporarily or permanently. So, investing in a fixer-upper house in Las Vegas as early as now is a good idea! If you plan on getting profits in the future, invest now.

 

Now that you know why a lot of people are moving and buying fixer-upper houses there, is it really a good deal? How will you know if your investment is as promising as you hoped it would be?

 

Signs of a Bad Fixer-Upper House Investment

 

The idea of putting your money in an investment sounds like a good plan, but what if it goes sideways? Before you decide to purchase a house and repair it for increased profits, you should know what to look for. There are a few things you need to keep in mind when you are looking into a fixer-upper house in Las Vegas and you must avoid them at all cost. Here are five bad signs that in a fixer-upper house:

 

  1. The layout is poor – Keep in mind that a house’s layout is important since you will be weighing the pros and cons if it’s a practical house to flip. If at first glance the house looks oddly designed, don’t purchase it. Always check the floor plans first so you can tell if the placement of the rooms is practical. If the floor plan is bad, there’s a big chance that you might have to reconstruct everything in the future. This just adds more expenses in your budget, let’s try an avoid that.
  2. Bad foundation – A good house to fix usually requires minimal changes. It usually doesn’t require a lot of changes and if there’s any, it shouldn’t require a lot work. However, if the house you are looking into has a pretty bad foundation (also known as the base or frame of a house), you might need to add to the property. Foundations with cracks are poorly constructed; it’s just a sign that says “This investment isn’t worth buying”.
  3. If the house is being forced to be sold – You can always tell that something is up when the seller of the house is literally forcing you to buy it. It could be due to a lot of reasons other than gaining profits, but a house being sold should not be forced upon anyone who isn’t sure about the place. So, if you feel like that owner of the house is “dying” to sell it, walk away. You might just be walking into a financial disaster even if you try to fix the house and sell it.
  4. The house is in a poor location – Again, location is important. Make sure that the house you are trying to buy is not located in a railway area where future owners might not like, near an intersection where traffic is crazy, or there are more abandoned houses than there are actual neighbors. This could be a sign that you won’t get your money back as quickly as you expected if you choose to buy the fixer-upper houses in Las Vegas.
  5. The house is sold “as is” – While some houses that are sold “as is” are great, there are plenty of reasons why it’s not always a great investment. It could be that, the house has major repairs to be done, it has been abandoned for a long time, or the foundations are not as reliable. However, if you want to invest your money in a house that is sold “as is”, then be sure to examine and appraise the house properly. That way, you know if you can still profit from it or not.

 

Conclusion

 

With its fast-growing economy, Las Vegas is pretty much an ideal place to live in. If you are planning to buy a fixer-upper house and want to invest in that property, then go ahead. Knowing the costs of repairs is important, this way you can prepare for the reconstructions you’ll have done in the future. Don’t forget to watch out for the signs mentioned above, this way you can avoid poor investments in the future.

Tiare Johnson
Tiare Johnson
15:50 08 Jun 22
I didn’t have to worry about a real estate agent, closing costs, & a lot of things that you have to take care of when you sell a house in a traditional way. I like the fact that it was fast, easy, & everything went great! Jamie is fantastic to work with!
Christopher Jenks
Christopher Jenks
19:38 31 May 22
Very communicative and trustworthy group of professionals. The selling process was transparent and fast. Definitely worth considering...
Karen Wheeler
Karen Wheeler
18:31 22 May 22
Great team to deal with
Kailey Bowman
Kailey Bowman
07:08 22 May 22
Mo F
Mo F
23:51 20 May 22
We had an awesome experience!! Jamie Kirk is amazing and made our experience great!!
Jcbbowman1987
Jcbbowman1987
18:42 20 May 22
The best in the business!
peter maiers
peter maiers
04:13 20 May 22
Easy fast and I trusted them ever step of the way !! great team of people all interested in doing everything correctlyPeter B
Connie Bowman
Connie Bowman
02:38 20 May 22
Fantastic Company!
Britne Salsbury
Britne Salsbury
02:34 20 May 22
Casey and his team and are amazing! They are organized and have great follow up. A really great group of people to work with!
Denise Klein
Denise Klein
01:43 20 May 22
Casey Ryan is an incredible professional when it comes to the needs of sellers that need to sell their homes off market. As a real estate agent I always recommend Casey to anyone looking to work with an off market buyer. He is honest, trustworthy & always looking for win-win solutions for everyone involved! The real estate market is better because of Casey & his company, We Buy Any House
jose moran
jose moran
22:43 19 May 22
Chandler Gentry
Chandler Gentry
21:56 19 May 22
This team is so amazing! Makes everything so easy and super reliable!
Amanda Jones
Amanda Jones
21:30 19 May 22
Alex Moses
Alex Moses
20:09 19 May 22
Best company to work with in the real estate game. ABSOLUTELY BEST CUSTOMER SERVICE IVE EXPERIENCED!!
Kyle Mellies
Kyle Mellies
20:06 19 May 22
Donald Gibson
Donald Gibson
19:41 19 May 22
Great communication and pleasant to work with! Everything went smoothly!
Josh Wathen
Josh Wathen
19:40 19 May 22
The team at We Buy Any Vegas House are extremely thorough and very kind. They go above and beyond to help you through the process. I would highly recommend.
Devin Flynn
Devin Flynn
19:34 19 May 22
Jamie was an absolute rockstar for us! She went above and beyond all our expectations, do not hesitate to go with them!
Blake Friedman
Blake Friedman
18:26 19 May 22
Casey Ryan and his team from We Buy Any Vegas House are the best in the game! Highly recommend!
Andrew Brannick
Andrew Brannick
18:12 19 May 22
Worked with Ryan on the sale of my Vegas property, I thought it was going to be a little difficult being out of town in Arizona. Ryan walked me through the process of selling and was able to get me an offer that was higher than I was expecting. He handled everything for me and made the process easy and really quick which was what exactly what I was looking for! Would 100% recommend for anyone looking to sell their house
Jared Vidales
Jared Vidales
17:50 19 May 22
Great service, great pricing. Sold my mothers house to them, and they handled it with care.
Kathy Hallett
Kathy Hallett
17:49 19 May 22
Jamie immediately helped me feel comfortable and the whole process was quick and hassle free! 5 stars
Melani Kirk
Melani Kirk
17:33 19 May 22
Jake Groves
Jake Groves
16:29 19 May 22
Local to Vegas and they are the best. I spoke to every cash home buyer in Vegas. Most of them just low-balled me over the phone. Ryan met me at the property and made an offer, which turned out to be the highest. He also agreed to close with the difficult hoarding tenant still there. Jamie supported me through the escrow process, she was very responsive to any questions I had and kept me informed during the closing. Less than a 30-day escrow. I spoke to a few of the team members over two months as I was getting other offers and all of them were easy to talk to and patient. They have a great team and make sure you include them in your decision-making.Thanks againJG
Joe Skaggs
Joe Skaggs
16:14 02 May 22
S Holt
S Holt
19:49 27 Apr 22
The first person I met was Allen. He immediately made me feel comfortable and confident in dealing with this company. I'm chronically ill. Allen is the only real estate person I'd let in my home.Throughout the process I ended up dealing with the whole team. Jamie deserves a medal for the hurdles she can overcome. Ryan is great at fixing problems and handling the big stuff, with a whole lot of support from Jamie. Allen was always available for me and checking in. He is great at answering questions in a way you understand and I always felt comfortable talking to him.Here is the actual email I sent the team today: "Hi everybody. Just wanted to thank you all again. I'm already able to do so much more for myself, I feel like a new person. I love my cute little house. I love the cold. It even snowed my 3rd day here. Because I'm able to move around, go outside, see people, clean the house, run errands, etc I'm starting to walk much better and even breathe better. And I haven't even seen a doctor yet. I don't feel like I'm a prisoner in my house anymore. Just wanted to let you know how much of a difference you make."My sale hit a few snags. But I'm the end, everything worked out just as they promised, for the amount they promised. These are great people to trust. (PS… Don't worry if they use O.D. I thought it was a scam of some kind. It wasn't. I just didn't understand).
Anabel Alvarez
Anabel Alvarez
17:05 12 Oct 21
Thank you WBAVH! Charles and Ryan were professional, personable, and patient with our needs and requests. The process was a breeze and they answered all of our questions in detail. They made us feel comfortable and part of their family. Will be recommending to everyone I know!
Steven Kaplan
Steven Kaplan
07:40 18 Aug 21
jerry gallegos
jerry gallegos
16:18 09 Aug 21
Very nice and helpful, responded to any questions very quick. I will do business with them again when I buy my next house.
Christopher Kampshoff
Christopher Kampshoff
00:30 07 Aug 21
Thank you so much guys, my brother was in a tight spot I appreciate you coming through. He's in a much better situation now. Again thank you.
Kelly Brown
Kelly Brown
18:48 27 Jul 21
I attempted to work with Allen, from this company. He seemed very nice and I was curious about what their company would give me for my home, if there were no realtors commissions involved. He said he needed to see the house. He came over and took a bunch of pictures and said he would talk to his partner Ryan, (the numbers guy), and get back with me in a half an hour. I didn’t hear from him that day. The next day I received a text from him, saying he would contact me on Monday. On Monday, he texted to see if I could talk at 12:00? I said, yes, he never called. Tuesday I receive a call from a random realtor telling me that Allen’s company has referred me to him. I call Allen, of course, to ask him what the heck is going on and he says yes, I work with this realtor, but I didn’t give him your information, he pouched it from our website!! I then say, so are you going to work with me and I find out, exactly what I already knew, they couldn’t offer enough money for my house, so they are not going to make an offer, HUGE SURPRISE!! #1, if you want your personal information safe, do not work with this company and #2, if you want a good offer on your home, don’t work with this company. I bought my home 3 years ago, it’s in great condition, in a great zip code and the market is through the roof!! If you can’t buy a house and get close to what someone needs financially right now, I don’t know when you can! Pick another company besides this one!! There are many!! Stay far away from this particular WE BUY HOUSES FOR CASH!!! You have been warned!!!
Carolyn Gobel
Carolyn Gobel
18:16 22 Jul 21
This company helped keep us from foreclosure. Thank you!
Carlos Caballero
Carlos Caballero
19:15 23 Jun 21
Thank you guys for your help with my Grandmas home. It was in rough shape and she left so much stuff. We couldn’t have taken on cleaning it out and the project.
jesse phalin
jesse phalin
01:29 18 May 21
Thank you, Thank you, Thank you! Went above and beyond assisting me through this process. Helped me move my things and even let me leave what I wasn’t taking with me. Thanks for all of the hard work.
Kelly Stewart
Kelly Stewart
21:27 08 May 21
My husband handled the process but felt good dealing with this local company and they did not try to change price after seeing the house. They actually offered higher once they saw our home. Had 5 companies come our to give us bids and they all were bait and switch. They beat everyone’s offers too. We tried to list before and couldn’t sell. I don’t know why anyone would work with head aches of real estate agents and paying commissions, banks, inspectors and the time to close only to walk away with the same money. Thank you Ryan and Jamie.
degan Stewart
degan Stewart
21:23 08 May 21
Thank you guys so much. Jamie is so sweet and on it. Ryan Is one of the most genuine people I’ve met in Vegas. They did what they said they’d do when they said they would and kept us in the loop the whole time
Brian Higgins
Brian Higgins
22:00 04 May 21
Thank you guys so much for everything. Ryan and Jamie Helped me find a place to get out of our old place. It was so nice to have the moving company just handle everything for me.
Sheila Winn
Sheila Winn
19:05 09 Apr 21
I struggled with the idea of selling my house to a "flipper". This company was fair, professional and extremely helpful every step of the way. I never had to wait for a response from Kelly Schnippel when I had a question or concern.I personally would recommend them to anyone looking to get a fair price for their property all the while getting kindness, professionalism and assistance from the buyer.Thank you Kelly Schnippel! I appreciate YOU and your team!Sheila Winn
Valerie Grijalva
Valerie Grijalva
17:30 27 Feb 21
Casey and his team will handle your transaction with the upmost professionalism and class like no other. Their knowledge in real estate will exceed your expectations and you won't be disappointed from beginning to end with their communication and systems to ensure your goals are met. I highly recommend Casey and his team!
Ann Reback
Ann Reback
18:51 25 Feb 21
Thank you for your professional and personal help in this process. You and your team have been so knowledgeable, responsive, courteous and kind...understanding my goals and executing each step in a timely and professional manner! THANK YOU! I will recommend you and your team to friends and others in our community.
Aviv Ben Shimon
Aviv Ben Shimon
16:38 25 Feb 21
Jess Lapensee
Jess Lapensee
16:31 25 Feb 21
From start to finish the selling process was quick and easy!
Eyal Karban
Eyal Karban
16:22 25 Feb 21
The best team in the business!Really helped us to cash out our home, very fast, very professional, great price, thank you!
Kate
Kate
01:02 26 Nov 20
We were looking to sell our home and called We Buy Any Vegas House so we could get more information. We spoke to Casey Ryan. Ryan was informative, answered our questions, and he went out of his way to give us the best advice on selling our home. Kelly was also helpful and was quick to answer any questions we had.We recommend calling We Buy Any Vegas House to anyone interested in selling their home.
Lynne M
Lynne M
04:52 24 Jun 20
I have nothing but positive things to say about this company! I needed to sell a house quickly after a death in my family. I spoke with several Cash for Houses Companies in Las Vegas and settled on We Buy Any Vegas House. Everyone was very sensitive about my situation, helpful, answered all my questions and extremely responsive when I called. Ryan and Kelly were awesome!After we settled on a price everything went super smoothly in escrow and again if I had any concerns or questions there was immediate feedback. Also the fact that I was able to do this remotely as I live in California was extremely helpful! I am so grateful for all the help I received during a very challenging time in my life.
Freddy Aleman
Freddy Aleman
18:47 27 Dec 19
My wife and I recently bought a home from Casey Ryan. The home we purchased is located in Centennial Hills. Gorgeous remodel. Casey and his team did a great job of designing the home. We ran into a couple of issues shortly after moving in. Casey had his people out quickly during Christmas week to make a couple of repairs. He gave my wife and I peace of mind during a chaotic holiday week and for that we will always appreciate him. I would recommend a Casey Ryan home to my friends and relatives.
Angela Rienstra
Angela Rienstra
21:06 26 Dec 19
I needed to sell my house from out of state ASAP. I looked into some other larger name companies and was disappointed with their turn-around time and lack of customer service. I'm so grateful to have found Ryan (and Kelly)! They understood my time crunch and moved heaven and earth to buy my house at a fair price and closed by the promised date. They were with me every step of the way and offered world class service! 100% would recommend to anyone!
Sue Kuckelmann
Sue Kuckelmann
17:02 16 Nov 19
We couldn’t be more pleased with the service provided. From start to finish the team was professional and extremely helpful. All the deadlines were met or exceeded even when I was in Arizona and my husband was in Las Vegas. I would recommend them to anyone who is looking to sell in Las Vegas.
Sam Thompson
Sam Thompson
17:47 25 Oct 19
Great people and very professional. Treated me and my situation fairly and with care.
Mandy Majano
Mandy Majano
01:49 07 Oct 19
They did exactly what they said they would. Great company! Highly suggest!
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