Las Vegas: Rehab Heaven!
July 12th, 2010 by The Property Lover 
29 Comments Hello my local Las Vegas real estate lovers!
Yes That was a Swimming Pool
You would have to wearing blinders to not notice all the boarded up real estate floating around town!
The Las Vegas real estate market is HOT! We know this.
The bathroom facets and light fixtures popping up on e-bay are hot too! Many houses are being slowly stripped as they sit vacant. Some damage done by disgruntle home owners and some done local thieves.
Either way this brings up the issue of a good Las Vegas rehab project.
I have a few tips for those brave enough to venture out into the world of new plumbing and Home Depot accounts! It’s not as scary as most people make it, but you do have to find honest contractors.
Yes Plural.
So here is where the fun begins!
If your not careful your Las Vegas fixer could turn into the money pit! It’s my experience that one version of bringing a house up to par and another are surprisingly quite different. As well as a what it would cost to say… Paint the house.
Or set this tile, patch the roof, or run electrical.
So since every contractor’s version of cost is so different…
You must first walk the property. Perhaps even with an expert eye to accompany you.
List all the needs and wants separately. Type up your list and ask each contractor to come in a bid separately on each item!
Now you can pick and choose who will do the cheapest most efficient job. You may also save so much money that you can do the extras you thought would put you over budget! ( That is why you bid out the extra “wants” along with your “needs”)
That’s it! That one trick will save you ten’s of thousands of dollars over your fix-up career! Really it sounds simple, but you would be surprised how much work is left off of a “total rehab job” quote and how much extra pad is placed in there by the average unscrupulous Las Vegas GC!
In real life, I actually had two contractors quote me OVER $10k to patch a roof that only needed new vent covers! Total actual job cost… $200.00!!!
You can thank me later my loved ones!
Until Later,
The Property Lover
PS. I am writing to you over the deafening sound of a jack hammer. These poor people are completely tearing up a pool that was put into expansive soil.
Not only did the home builders not pack the soil correctly, the pool contractors didn’t either. The people I hear spent over 100K on their yard and were NEVER able to even fill the pool before it started to sink! So if you don’t think you should get several opinions on your Las Vegas rehab work, take a look at the attached photo!
Tags: Las Vegas fixer homes, Las Vegas House flippers, Las Vegas investors, Las Vegas Real estate, Las Vegas rehabs
Posted under: Buying Real Estate, Houses in Las Vegas, Las Vegas Real Estate News, Rehabbing
Las Vegas: Rehab Heaven!…
I found your entry interesting do I’ve added a Trackback to it on my weblog
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Do you recommend a certain time to start rehabing a property? That way it is not sitting vacant too long. I think this may somewhat prevent new items being stolen. Please advise as I have had a couple properties that have been hit!
Mike
Get that rehab started ASAP!
The quicker the property is secured and occupied the better. Also, the workers themselves will deter the average folks from pillaging the property IF they keep it properly secured during the rehab time frame.
I will be retiring next year and was looking into becoming a real estate investor. Please send me more info.
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