By: Dwayne
Good article Brandon. I’m always watching fix and flip shows. Sometimes they have a renovation team and sometimes they do the work. Either way, you have to have your numbers in order. I’m truly a...
View ArticleBy: Brandon Turner
Thanks Dwayne. Exactly – you have to have your numbers in order. At least you’ve come to a good place to learn more – Bigger Pockets is the best resource you can find for learning to invest in real...
View ArticleBy: Jessica
Hey Brandon, Any thoughts on simply wholesaling as opposed to fix and flipping? I live in New York and invest throughout the tristate area. Would love some help.
View ArticleBy: Michael Borger
Very good article, Brandon. I agree — having realistic expectations is vitally important. Along the same lines, no one gets rich quick overnight doing this. As sexy as flipping houses can be, you’re...
View ArticleBy: ofimed
Good article. I always have a plan B, a plan C, a plan D… that’s very important.
View ArticleBy: Paul Crowson
Thanks Brandon for reminding me why i must stay partnered with really successful people, it has saved my butt several times already….my rehab construction partner is a real life saver and he is worth...
View ArticleBy: Mike
Brandon, solid advice. Buying right is the key as you say. Like many house flippers, I use the 70% Rule based on ARV. If I look at a house to flip, I take 70% of the projected After Repair Value as my...
View ArticleBy: Brandon Turner
Hey Jessica, I think wholesaling is a terrific way to learn the business, gain experience, make contacts, and learn how to “buy right.” I definitely recommend it for anyone who wants to flip houses...
View ArticleBy: Brandon Turner
Michael – I love what you said ” Getting the systems down.” That’s key – and why I always advise people to work with other’s first (so you can “steal” ideas from their systems). I started without doing...
View ArticleBy: Brandon Turner
I also come up with multiple exit strategies. I never want to say I lost a house or the hard money lender took it back. For example, I once had a house I tried to sell but it was taking a while. The...
View ArticleBy: Brandon Turner
No problem Paul! Once you have that experience, don’t be afraid to step outside that expensive arrangement and find your own contractors. However, if it works – great! Another benefit of partnerships...
View ArticleBy: Brandon Turner
Dang Mike! Congrats on the recent success! Using 70% ARV is an excellent tool when running those numbers. It’s easy to remember and use – and can save a lot of headache later and like you said, protect...
View ArticleBy: Jessica
Hey Brandon, I’m definitely working hard to expand my network of investors, rehabbers and fellow wholesalers. However, I’ve found it a bit difficult to connect with other wholesalers (more competition...
View ArticleBy: Mike
Hey Brandon, they dont all turn out that way but when they do it is pretty sweet. Thanks for the compliment. 70% really keeps you disclinplined and forces you to buy right. Its just one cog in the...
View ArticleBy: Lynn Andris
Concise and to the point. These are my observations as well. To me the most critical point you made is the best product lowest price model. This is a new world for those seeking to flip. Being...
View ArticleBy: Brandon Turner
Thanks Lynn! Best Pice/Lowest Model = success (hopefully!) Like you said, this is a whole new world for those seeking to flip! Thanks for the comment!
View ArticleBy: Brandon Turner
Yeah, I suppose wholesalers can be pretty territorial and competitive! Hang in there!
View ArticleBy: Adam Johnson
All very good points, many of which I have learned the hard (and more expensive) way. As I gain experience, I have learned that flipping/wholesaling and many other “investments” merely create a “job”....
View ArticleBy: Brandon Turner
Hey Adam, I feel the exact same way. I tend to spend a lot of time creating jobs for myself. Not the ideal situation. On the other hand, I love real estate as a j.o.b. much more than anything else I’ve...
View ArticleBy: Karen Rittenhouse
Great advice – if you haven’t done many, do them with someone who’s experienced. Cost overruns can wipe out a new investor in their very first deal.
View ArticleBy: Brandon Turner
Thanks Karen! I know cost overruns have made life difficult for me on more than one occasion!
View ArticleBy: Chris
Great work, Mike. It’s always good to see others succeeding with their flips. Just a question though. You bought the place for $100k, and put in $40k of repairs. What price did you end up selling it...
View ArticleBy: Randy
I work in construction so that helps with house flipping on the side. getting started, I believe 2 of the most important things to rememeber is location & size of house. Location – you will be...
View ArticleBy: Ben Leybovich
You mean houses? 🙂 Yes, if the spread is so big that I can’t pass it up. But in genral, I don’t like to work that hard 🙂
View ArticleBy: Jeff Hahn
My wife and I flip in Ventura County CA where prices are pretty high and now that there is no inventory prices are rising again. We have done 9 homes so far. We have not lost on any so far....
View ArticleBy: Chamoa jackson
im very interested in flipping.im 21 years old and I have to start from the bottom.Whats a good start for me. Im located in dallas texas???
View ArticleBy: Brandon Turner
Hey Chamoa, I started flipping my first house when I was 21. The best advice I have is to really be conservative in your numbers, and wait for the best deal - don't get excited and pay too much! Be...
View ArticleBy: JT
I was hoping for more of a strategy or formula to improve value of a home. All the points made in the article I noticed myself while watching one episode of property wars. I found the article to be...
View ArticleBy: Brandon Turner
Hey JT, thanks for the comment. I hope you understand this post was intended as a “basic tips” post (as the title suggests) not an end-all-be-all rehab book. For that, you’ll want to check out The Book...
View ArticleBy: Leon
I’m a renter in the process of purchasing a house at a low price. The house is 70% completed construction, reason for low selling price. Is it a good idea to finish construction, then immediately put...
View ArticleBy: Adam Johnson
Not knowing all of the specifics of your situation makes it a bit more difficult to give specific thoughts. However, if you are already considering living there, you may want to explore the idea of...
View ArticleBy: alexis
Just recently, I came across a video about flipping houses. This seems like a good investment regardless of geography. So far, non from my place have considered this strategy. I am very interested in...
View ArticleBy: Josh
There have been many times where we have bought a house and done our normal projections for remodeling, and have been completely wrong. Whether it be spending an extra few thousand on a roof, or having...
View ArticleBy: House Work
Great post! Been reading a lot about working on houses like this. Thanks for the info here!
View ArticleBy: Warren
Brandon, Wish I had more insight for anyone and everyone that has even less experience than I do. I really just wanted to stop in and say Thank You for all that you do. As for Flipping, I believe it...
View ArticleBy: Marian Smith
Never flipped, but just wanted to say that one way of going over budget is the “while we’re at it might as well do this too” attitude. My husband and I do the majority of the work on the foreclosures...
View ArticleBy: Dong
Great post! I am in the process of remodeling my house right now, so I’ve been doing a lot of research on this. Thanks for sharing!
View ArticleBy: Ryan Corris
Great post Brandon. I have just begun looking into real estate investing. It excites me, but also scares me. I have thought that the best thing for me would be either flipping or buy and hold /...
View ArticleBy: John McConnell
On a side note…. I just visited the house in the picture above. Found it on accident in Germany last week visiting “Atlantis” at the Erdersee. Cool place.
View ArticleBy: Joel Kapiamba
Hey Jessica just randomly going through some of these comments. I am just so curious on how your endeavors turned out in 4 yrs!? Are you still investing in real estate, where you able to find connect...
View ArticleBy: Micki Larkin
Brandon – I love your fabulous “pearls of wisdom” as well as all the insights from my co-flippers. I have flipped 9 homes in Augusta, GA, over the past few years. Since I did’t have much experience...
View ArticleBy: Kadi ferrara
That is where I’m at right now. I want to get as many information as I can in order to be successful.
View ArticleBy: Sheila Christman
Great and simple way to get started but you are very correct on the aspect of partnership with someone whom as done many Flips before. I’m learning the hard way also but it will be ok. Very important...
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