Local investors adjust to changing real estate market

Local News

LAS VEGAS (KLAS) — As many of you know, the real estate market in the valley isn’t showing any signs of slowing down. Local house flippers are making changes to their methods, as more people look to make Las Vegas home.

“It has gotten crazier, hotter,” said Jesse Boeckle of The Boeckle Group, “and it has gotten more competitive.”

Jesse and Landon Boeckle are agents and real estate investors.

“Jesse and I, our primary strategy is fix and flip,” Landon shared. So, we flip 50 to 75 properties a year.”

Before the pandemic, finding a home to fix up and sell for profit wasn’t so difficult, but with many people moving to the valley and so few homes on the market, they had to make some changes.

“What we have done is, we have actually kind of pivoted a little bit of our investment model to go on the higher price range of things, where a lot of early investors or new investors, they are trying to do the beginner, starter homes,” Jesse explained.

The Boeckle team flipped a luxury home in Henderson, making several hundred thousand dollars in profit. They say now, there are more buyers for the homes like these.

“A lot of buyers from California, especially in the luxury market, the California buyers are sucking up all of the high-end luxury inventory,” said Landon.

They also took to social media as “The Boeckle Brothers” during the downtime of the pandemic, and it is also paying off.

“From being on YouTube, being on TikTok and Instagram, so there is a lot of eyes, like wholesalers, bringing us properties,” Landon shared. “We have bought a lot of properties from Instagram.”

The Boeckle brothers hope to continue expanding, as the market shows no signs of slowing.

“I think we will continue to see appreciation and continue to see buyer and demand,” said Landon.

They say another hurdle throughout the pandemic has been construction material shortages, and that takes some projects a lot longer to complete.

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