Las Vegas Flippers Update

[Account Closed]

Here is an interesting article on the Vegas flip scene.

http://www.reviewjournal.com/business/housing/some...

[Jesse Tsai]

That comment about rolling out of bed and going to the auction and making money made me laugh, but is true.

Back then, we just rolled out of bed everyday at 8am and had hundreds of properties daily to bid on. Competition was still fierce, with dozens of bidders, but nowhere close to what it is now with only a handful of bidders out there.

There was also auction.com/REDCs monthly auctions with several dozen properties, and a handful of properties a month each from H&M and W&W.

Now, I'm having to put up double the cash to make half the margin of before. Still manageable, but no one is getting rich quick anymore.