Due to low inventory and high demand, the Las Vegas market remains scarce for buyers and investors alike. Ranking in the top 1% of agents in Las Vegas with $23.5 million in sales last year, Juan Rubio has a solution for both parties to benefit in current conditions. He shares, “there is a huge opportunity in Vegas to make a lot of wealth in real estate. Even though inventory is low, there are properties here that are undervalued. If you find those deals, there is a lot to be made as the demand for homes that are fully fixed up is high.”
Rubio explains to buyers looking for their new homes, “When you work with me, you can get a house designed to taste without the long wait. I have a massive inventory of off-market luxury properties being worked on right now.” New builds can take anywhere from one to two years, from the commencement of architectural plans to closing. Currently, many new builds are experiencing even further delays due to the shortage of transportation for building supplies. With so many shipments of materials backordered, estimated closing dates have been pushed back regularly for the past two years.
With Rubio’s fix and flip approach, buyers can implement certain upgrades to their likings, such as customized cabinets, closets, backyards, sinks, floors, accent walls, and more. If the structure of the property allows, buyers can even add or subtract rooms as well. All of this freedom in design with the convenience of a quick turnaround on the project results in turnkey homes waiting for their new owners within a month or two, according to Rubio. He informs, “Buyers can get hundreds and thousands of dollars of built-in equity when they buy these plans…many of them located on golf courses and in guard-gated communities with massive lots and views.”
Rubio’s recent fix and flip to a celebrity most clearly follows this flow. “My client got a house for $950,000. We put about $500,000 into it,” Rubio explains. As soon as the 3630 Tobias Lane property was sold to his investor, Rubio had his team draft the remodel and listed the home for $2.2 million based on the renderings alone while it was still being worked on. “We got it under contract within less than thirty days at asking price,” Rubio mentions.
“We are bringing a whole new market to the luxury side of real estate, which I am proud of,” Juan Rubio, the wolf of real estate, exclaims.
Rubio has streamlined his fix and flip process to the following: find, sell, draft renderings, market, fix, flip, relist, and sell to the final homeowner. “More than half my deals this year were fixes and flips for my clients,” he reports. Many properties at auctions and off the market have great bones, desirable locations, and high square footage but may be dated and not so appealing to the eye initially. With Rubio and his team’s help, these properties become profitable for investors and diamonds in the rough for new homeowners.
Juan Rubio states, “I manage big portfolios of investment properties for clients and usually have record-breaking prices per sqft sales. Other realtors call me for advice on how get such high prices per sqft for my listings. Agents listing a home soon in the area thank me for setting comps for them to be able to get appraisals at their price. The quality of our remodeled homes is excellent. I had a neighbor at the Falvo property tell me was crazy thinking I could get $970k for a home where the comps were all-around $750k. I sold the home thousands above appraisal. I love to net my clients the most money possible for their homes. If you’re an investor with a portfolio of homes or someone thinking of selling a property, contact me for a consultation.”
– By Danica Serena Stockton
To learn more, please follow (at)thewolfOfrealestate Investors can contact Juan at 702.913.3044