Jesse & Landon Boeckle, two young brothers from Las Vegas, have made a name for themselves in the competitive real estate market. Starting out by flipping entry-level homes, the duo quickly gained traction and began to niche themselves into the high-end luxury market.
"Being two young guys who grew to such a high volume level so quickly, people started to take notice," said Jesse. "As we started to grow our traditional brokerage as well and niching ourselves into the luxury market really helped us stand out. People were scared to flip luxury homes in Las Vegas, but we saw the potential and took the risk. It paid off, and people started to identify us as the luxury flippers and investors of Las Vegas."
The risk paid off for the brothers, as their profits increased significantly once they started flipping luxury homes. "We went from flipping $100-200k homes to flipping $1-2M homes, and started to learn that we could apply the same principles and processes to luxury houses as we did with entry-level homes," said Jesse. "The biggest difference was that the profit is way higher when flipping luxury homes. That was the lightbulb moment for us. Our profits went from around $20,000 to $30,000 per home in the first few years, to now seeing profits of around $137,000 per home. It may take a bit longer to do the construction and take a little more management, but it's so worth it."
The Boeckle Brothers haven't stopped there, however. In an effort to expand their business and venture into new markets, the brothers recently started flipping homes in Scottsdale, Arizona. "We wanted to try something new by buying a couple flips in Scottsdale," said Landon. "We're still navigating the market, but we're excited for the opportunity."
Rental properties also play a role in the brothers’ business, with the brothers using their profits from flipping to build their own personal portfolios of long term buy and hold investments.
The two brothers are also hoping to expand into new markets in the future. The formula is simple, says Jesse.
“If we just find a person or operator who is really good in a given market, we can structure a partnership with them. They’ll become our boots on the ground providing management while we can provide the capital and experience. Local experts are key to expansion."
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Original Source of the original story >> How the Boeckle Brothers went from flipping entry level homes to flipping luxury homes and dominating the market