Real Estate Agent · Rocklin, CA · Member since 2014 · 166 posts · 71 votes
12y
I am looking for fix and flips in the Reno market right now. Last week a 6 bed 2 bath dump came on the market in West University area (near UNR) which is a fantastic area (low crime, and most college students prefer to live in this area). The asking price was $145k and it needed maybe $15k in rehab work. Rooms rent for approximately $500 per month. So in terms of cash flow, this property would have been a steel for a buy and hold investor.
The property came on the market on Wed and had accepted an offer by Thurs, so the market moves fast. I lost out as my bid wasn't competitive enough. I was going to flip it to a buy and hold investor.
When I am ready to buy and hold I will definitely consider this market as there are really good deals out there if you follow the market closely and have a good agent helping you.