The HGTV show “Flip or Flop” has certainly been a gem for the network. Rather than focus on home buying or development from the eyes of potential or current homeowners, it was actually done from the perspective of a married couple flipping homes for the sheer profit. Their money making was usually pretty good, but always a gamble, and they did so for a living, which made for great tension on the show.
As it turned out, there was tension in the marriage off-screen, as the relationship ended, as did the show. HGTV was quick to get two spin-offs up and running, one of which was based in Las Vegas. That left viewers in the area wondering if there was actually a market for flipping Las Vegas real estate or was this all for show?
The truth is, there is a market for flipping Las Vegas real estate, and it doesn’t just apply to homes and residential properties. Flipping of course is trying to buy a property that is foreclosed or somehow abandoned pretty cheap, often at an auction, and then renovating it up to high standards as quickly as possible to sell at the high end of the market.
Flipping homes is obviously a genre of reality television, but it’s also possible to flip commercial real estate too, and it can make money in Vegas. The housing sector here got hit harder than most everywhere else, but considering the money some in this town have, as well as the population growth, there is always demand for nice homes around here.
Flipping commercial or retail real estate also works. The growing population needs products, services, and amenities, and businesses here that aren’t casinos don’t pay taxes, so there is also growing need for such real estate.