For those unaware of this investment technique, to "flip" a home means to quickly sell a newly acquired house for profit. According to the following report from RealtyTrac, the Las Vegas valley is the second best place in the country to flip a home. The statistics reported on this practice are rather overwhelming, with Las Vegas holding a profit percentage that was second highest in the country. Read the following stats quoted directly from the article linked below:
There were 4,341 such sales of single-family homes in the valley last year, down 21 percent from 2011. The average purchase price was $133,198 and the average sales price was $203,945, giving the flippers a 53 percent gross profit — $70,746.
http://www.vegasinc.com/news/2013/may/02/report-las-vegas-among-top-spots-flip-homes/
Source: VEGASINC.com
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