Author: anthonylasvegas

Flipping homes in Las Vegas is not as common as it used to be, but it’s still a lucrative business.

The Las Vegas Valley is the second best place in the country to “flip” a home, in which buyers quickly sell their newly acquired houses for a profit, according to a new report from RealtyTrac.

The research firm, based in Irvine, Calif., defined a flip as buying a home and then selling it up to six months later.

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.

via Report: Las Vegas among top spots to ‘flip’ homes – VEGAS INC.

MGM Resorts International wants to build a privately funded, 20,000-seat indoor arena behind the New York-New York and Monte Carlo resorts that would feature boxing, top-draw headliners and special events.

Its partner is the pre-eminent sports and entertainment promoter AEG, whose collection of arenas includes the Staples Center and the Home Depot Center in Southern California, Best Buy Theater in Times Square, New York, and facilities in Shanghai, Beijing, Sydney, Stockholm and elsewhere.

The project, announced Friday morning, is anticipated to be financed with equity contributions from each of the partners as well as privately funded third-party financing, the company said in a statement.

via MGM Resorts announces plan for 20,000-seat arena – Las Vegas Sun News.