Success Story: Transforming a Henderson, NV Property
In the vibrant city of Henderson, NV, a remarkable transformation took place with a property purchased in November 2023 for $365,000 and sold for an impressive $507,000 in May 2024. This project, financed by Lantzman Lending with a loan of $305,000, exemplifies many of the best practices we see among successful investors in today’s market. They had the property on the market in about 90 days, just in time for the market to heat up in spring.
Here are some best practice highlights used by our borrower:
- Virtual Staging: The borrower utilized virtual staging to market this investment, significantly more cost-effective than traditional physical staging. While we still advocate for real staging in most scenarios, virtual staging is a great, viable option if you are tight on budget, inventory is low, and comparable sales are predictable. There are many great options as AI develops that can be done cheaply and quickly to save you time and money.
- Neutral Color Palette: Using a neutral color palette for an investment property is highly recommended. It provides a blank canvas that allows tenants to easily incorporate their own furniture. Bold or vibrant colors can be polarizing and turn off some buyers, translating into lower sales prices and longer marketing times. It also creates a duplicatable design that can be used again and again to create scalability in your home flipping business.
- Avoiding Over-Improving: The temptation to make the project perfect and add all the bells and whistles is real, particularly for newer flippers or those with a design background. However, many times the market where you are operating will have price limits that are difficult to exceed, no matter how much money you throw at it. Study the market, find comparable sales at the price point you want to achieve, and do something similar.
Las Vegas Real Estate Market Overview
In April 2024, the Las Vegas housing market saw a significant uptick in single-family home prices, with the median price rising to $472,990 from $465,000 in March. This increase brings the median price very close to the all-time high of $485,000 recorded in May 2022. A total of 2,219 single-family homes and 666 condo/townhomes were sold, making up 2,885 sales for the month. This sales volume corresponds to about 1.5 months’ worth of inventory, which is up by about 19.2% compared to April 2023.
Homes in Las Vegas were on the market for an average of 35 days, reflecting a dynamic but supply-constrained environment. Despite a slowdown in sales compared to 2023, the market remains robust, with strong demand keeping prices elevated. After the intense activity of the post-pandemic years from 2020 to 2022, the market now seems to be finding its footing, stabilizing in a new equilibrium.
Partner with the Best Hard Money Lender in Henderson, NV
At Lantzman Lending, we are proud to partner with investors and borrowers who understand the intricacies of the real estate market. This Henderson, NV project exemplifies the potential for substantial returns on investment when the right opportunities are seized with expertise. We remain committed to empowering our clients’ successes through flexible, reliable financing options tailored to the dynamic real estate landscape.
Ready to get started? Contact us today to learn more about our hard money lender services in Henderson, NV, and how we can help you achieve your financial goals.
Are you in need of fast and reliable financing in Henderson, NV? Look no further than our expert hard money lender services. Whether you’re a real estate investor, property developer, or simply in need of quick cash, our team is here to help. Learn everything you need to know about securing a hard money loan in Henderson, NV, and why we are the best choice for your financial needs.
Why Choose Lantzman Lending, a Hard Money Lender in Henderson, NV?
- Fast Approval and Funding: Traditional loans can take weeks or even months to get approved. Our hard money lender services in Henderson, NV, can approve and fund your loan within days, allowing you to seize investment opportunities promptly.
- Flexible Terms: We understand that each borrower has unique needs. Our hard money loans come with flexible terms tailored to your specific situation, ensuring you get the best possible deal.
- No Credit Score Requirements: Since hard money loans are asset-based, we focus on the property’s value rather than your credit score. This makes our loans accessible to a wider range of borrowers, including those with poor credit history.
- Local Expertise: As a trusted hard money lender in Henderson, NV, we have in-depth knowledge of the local real estate market. This allows us to offer competitive rates and personalized service to our clients.
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