Flipping houses is exhilarating and filled with non-stop action, and many people, myself included, swear that it’s actually fun, too! It’s important to keep in mind, however, that purchasing a fix and flip can be risky, and your profits are determined by:
- Your ability to beat out other investors in finding the good deals
- Your knowledge
- Your ability to properly assess the risk, costs, and profit potential of a deal
That said, if you’re reading this house flipping guide, you’re up for both fun and the challenge, and want to learn how to lay the groundwork for a great flip, or just spare yourself some pain by learning from my flipping mistakes.
In this guide on how to flip a house, you’ll find the nitty gritty details, “hard knock” tips and aha! moments that you need for a smooth and profitable flip, whether this is your first flip or your tenth.
Start Here Webinar Replay: How to Fail at Flipping
The newbie mistakes to avoid when first starting out. In this free webinar we’ll go over:
- 2 critical mistakes that will sink your deals
- 5 lessons learned to improve your flipping business
- In-depth comps training that I wish I had 3 years ago
Guide to Flipping Houses
I will go into extensive detail on the seven major aspects of a real estate fix and flip project.
You can start from the beginning and work through to the end or go straight to what you need:
How to find houses to flip
This three-part series has over 117 methods and techniques you can use to uncover properties online, without the internet, and by creating relationships.
You’ll discover everything from what to look for when driving for dollars, to online government auction and real estate surplus websites you can surf in your pajamas.
How to come up with an accurate real estate After Repair Value (ARV)
To properly calculate a true ARV for a potential flip, you must understand how to find real estate comps and adjust them for features. Learn how to do this and you’ll never be forced between leaving money on the offer table, or losing it on the sale of the flip.
How to estimate your flip rehab construction costs accurately
Getting targeted construction cost estimates for a flip is challenging, even for pros. The good news is, it does get easier with practice.
In this post, I break down costs for 29 common rehab projects along with a rehab walkthrough checklist to get you started.
How to schedule rehab construction tasks in the right order
When flipping a house, time is money, whether yours or your lender’s. Execute your house construction tasks in the fastest, least costly order by following the scheduling guidelines in this post.
Making sure you have accounted for all of your holding, purchase and sale costs
Did you know that there are up to 29 possible holding, purchase, and sale costs associated with a flip? Understanding where your money is going before it’s spent is a major key to profitability.This guide gives you the information that you will need before you can know how to flip a house.
How to use house flipping formulas to analyze your deals
Find out the math behind the most important formulas, such as how to calculate your Maximum Allowable Offer, or what the 70 percent rule is when it comest to analyzing a fix and flip.
How to find creative funding options for your strategy
There are often two camps of investors, those that are overwhelmed by all of the possible funding options available for a flip, or those who think the only method available to them is cash only. If you’re in either, check out this article that clearly explains different ways to locate funds for a flip…and some that might be right under your nose.
This guide on how to flip a house is meant to springboard you towards success through education and in being able to identify opportunities around you.
Disclaimer: Real estate in general, and flipping especially is very risky business. None of the information in any article within the House Flipping Guide or within the site Blog is deemed advice, your mileage may vary, and you have the potential to lose all of your money. We will not be held responsible for your use of this information in any way.