Although plenty of Instagram-worthy couples on HGTV have made the process of “flipping” seem easy and profitable, investing in inexpensive residential properties in order to make a few cosmetic fixes before putting them back on the market requires a lot more effort than what can be shown between a few commercial breaks. Properly executed, flipping should be a short term investment, or a short-term strategy, for maximizing profit: and plenty of Nevada-based investors are happily playing the game.
In 2018, consumer reports have documented that over 200,000 purchased homes were resold within a 12-month period, suggesting that they were “flipped” as short term investments, with a sizable portion bought and sold in Las Vegas as future rental properties. With more and more potential home buyers and renters making the move to Nevada than ever before, there’s never been a better time to consider investing in real estate that can turn you a profit—but, how do you make your investment property in Las Vegas stand out amidst all the rest, and make your investment more than a gamble?
When you’re flipping a house in Nevada, remember what a major player the home’s potential energy-efficiency will have on swaying potential buyers in a competitive market.
The Fourth “R”: Re-sell
You already understand the positive impact the original three “Rs”—recycling, reusing, and repurposing—can have on the environment, so you’ve resolved to perform them on the regular. Inherently, then, you already understand the draw that an “eco-friendly” home in Las Vegas—with its continually fluctuating population and scorching summers—can have on potential home buyers. Not only does it provide them with the peace of mind of an environmentally responsible job well done, but an energy-efficient home can provide its inhabitants with:
- Better air quality within the home
- Fewer irritants, pollutants, and allergens
- Hundreds of dollars in savings
- Greatly increased potential resale value
The Fifth “R”: Renovation
Many professional flippers have reported that their real estate investments’ profits greatly increased after honing in on “green” renovation strategies. Before you launch your remodeling project, you’ll need to be well-equipped to dispose of refuse and debris: invest in a dumpster rental to take care of discarded materials from within the home, and in a specialized trash dumpster to dispose of any “green waste” that can be recycled—keeping you in line with the new “eco-friendly” vision of your investment property. The following are just a few eco-conscious upgrades:
- Improved insulation drastically reduces heating and cooling costs.
- Energy-efficient appliances.
- Skylights to reduce electricity costs.
- Solar-powered energy sources.
- Improved options for long-term trash management, like compost heaps.
The Sixth “R”: Redemption
An environmentally-conscious “flip” of your residential investment is more than an opportunity to profit—it’s a chance to invest in future generations en masse, by making an invaluable contribution to their living strategies. Not only will you make your property the most attractive to your target market. When you begin to renovate your investment, make sure to contact us at Western Elite for the best trash and green waste dumpster rental service in Las Vegas.