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How to Flip Houses Like A Pro – A New BiggerPockets Book!

by Brandon Turner on March 19, 2013 · 12 comments

  
Flip Houses How To

My first “official” flip was a flop because I didn’t know how to flip houses.

It was 2000 sq ft home built in the 1920s that needed just about everything done to it. Roof, plumbing, electrical, paint, flooring, kitchen, bath, everything. I spent almost nine months, every day, sweating at the site, doing nearly all the work myself with my wife. I more-than-doubled my estimated repairs and tripled my time, and my dreams of a $50,000+ profit began to fade very quickly. In the end, the market had begun to plummet and I couldn’t sell. The house is now in my rental pool which provides nice monthly passive income through the cash flow; but the flip was a flop.

I tell you this story because I don’t want you to go through the same thing.

That’s why today BiggerPockets is excited to launch the book that I wish I had read when I first got started – The Book on Flipping Houses.

HowtoFlipHouses

Learn How to Flip Houses from THE Book on Flipping Houses

The Book on Flipping Houses, written by fix-and-flipper (and avid BiggerPockets contributor) J Scott from 123Flip.com and published by BiggerPockets Publishing, contains more than 300 pages of detailed, step-by-step flipping knowledge perfect for both the complete newbie or seasoned pro looking to build a killer house flipping business.

The Book contains an immense amount of detail into the ins and outs of the flipping business, including how to:

  • Create a renovation plan, budget, and schedule
  • Find financing, even with little cash and poor credit
  • Find markets with great opportunity for profit
  • Accurately analyze deals in minutes
  • Make strong offers that beat the competition
  • Find and manage the best contractors
  • Remodel a home for maximum resale value

Whether you are an experienced renovator or just starting out, The Book on Flipping Houses will teach you everything you need to know to build a profitable, efficient house flipping business. As I said before - it’s the book I wish I had read when starting out.

How to Flip Houses2

A Free Bonus Book For More than Just House Flippers

In additional to The Book on Flipping Houses, we are actually releasing a second complete book for FREE to accompany the other. This book is about more than just flipping – but it can be helpful for every single real estate investor out there. If you ever need to hire any job out – this book can help save you money.

Unless you are an experienced contractor, one of the most difficult tasks for any new house flipper or real estate investor is the process of estimating repairs. Without a doubt, most house flip failures (including my own) are a direct result of underestimating the cost of repairs as well as the time frame required to complete them. To help you overcome this obstacle, as an added bonus to The Book on Flipping Houses, BiggerPockets and J Scott are giving away another book for FREE: The Book on Estimating Rehab Costs.

In The Book on Estimating Rehab Costs, J Scott goes inside the flipping process and shows you not only the cost ranges and details associated with each and every aspect of the flip, but also the framework and methodology for estimating rehab costs. You’ll learn how to accurately estimate all the costs you are likely to face while flipping a home as well as what upgrade options you have to provide the biggest bang for your buck. This valuable resource will be your guide to staying on budget, managing contractor pricing, and ensuring a timely profit.

In this book, you’ll learn:

  • The 25 Major Renovation Components
  • The 150+ Most Common Repairs You’ll Encounter
  • How to Create a Detailed Scope of Work for Your Rehab
  • How to Determine Which Contractors to Use for Which Repairs
  • How to Interview Contractors When Getting Bids
  • How to Assess Big Problems like Mold and Termites
  • And Much, Much More…

I don’t believe you need to be a carpenter to flip houses (in fact, I think it would better if you weren’t!) – but you do need to understand the fundamentals to pricing to ensure your flip produces the income you desire. The Book on Estimating Rehab Costs gives you all the tools you need to accurately estimate the repairs needed on your flip and will be your closest friend during your next renovation project.

In addition, J also has included some great additional resources to help you get going, including:

✓ Scope of Work and Estimation Worksheet
✓ Rehab Analysis Worksheet
✓ Sample Flipping Chart of Accounts for Quickbooks
✓ Form W-9
✓ Independent Contractors Agreement
✓ Appraisal Package
✓ Inspection Checklist
✓ Lien Waiver

This package of two books and all those extra resources will give you everything you need to start successfully flipping houses today!

How to Flip Houses 3

How to Get Both Books Today

The books are available in both PDF form and physical paperback form, for your convenience and reading preference.

BiggerPockets could have released these books in typical guru-fashion, with a high price tag (ending in a 7, of course!) but we wanted to stick with the belief that education should be affordable. You can actually download both these books today for just $29 or for $49 get both the PDF copies AND the physical books (mailed on or about April 8th, 2013.)

Furthermore – BiggerPockets fully stands behind the quality of The Book on Flipping Houses and The Book on Estimating Rehab Costs. We are so confident in the value these books provide that if for any reason you are unsatisfied with your purchase, we offer a 100%, no questions asked money back guarantee. We are that sure you will love these books.

If you want to order a copy of both books or just want to learn more about it – click the big button below!

Real Estate Investing Guide | BiggerPockets® Investment Real Estate Social Networking Community-2

Have you read The Books yet?

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{ 12 comments… read them below or add one }

Anne March 19, 2013 at 12:45 pm

I’ve been anxiously awaiting this for weeks and have already ordered my copy!! The digital version will have to hold me over until I have the paper copy in my hands. What an incredible resource!!! Huge thanks to BiggerPockets and J Scott for making it happen. WOW!

Reply

Joshua Dorkin March 19, 2013 at 1:43 pm

Thanks for picking up your copy, Anne! We’re extremely excited about the book and think people will find an incredible amount of value in it!

Good luck to you!

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Karen Rittenhouse March 19, 2013 at 2:37 pm

Congratulations, Josh and Brandon, on such a great publication.

You’re meeting a need for the audience here on BiggerPockets. I’m sure it will be a huge success and save many investors time and money!

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Brandon Turner March 19, 2013 at 3:11 pm

Thanks Karen – but J Scott definitely deserves the credit for this great piece of work! I really hope people find as much value out of it as I did!

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shane March 19, 2013 at 3:48 pm

I ordered mine :-)

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Brandon Turner March 19, 2013 at 3:49 pm

Nice! Thanks Shane!

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Paul Crowson March 20, 2013 at 6:33 am

Brandon, I’m excited to see this and get it ordered also….will I be able to print the electronic pdf book….or will I have to wait for the hard copy…I’m very excited to get this book…It will be something I think I will be carrying with me all the time…
again question is I wanted to know if I can print the pdf electronic version…..I want a hard copy in hand asap!

Reply

Brandon Turner March 20, 2013 at 9:32 am

Hey Paul – you can print it out if you’d like – just don’t distribute it or make a bunch of copies or sell it on the black market! :) Thanks for ordering!

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Paul Crowson March 20, 2013 at 9:40 am

Oh no Brandon, wouldn’t do that, I am just more a hands on reader and note taker, and action taker….and some pdf’s sometimes I have ordered won’t allow printing etc….I totally understand that copywriting and such…thanks!!!

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Steve Burgess March 21, 2013 at 2:57 am

Thanks Brandon for sharing this. I am on my way to ordering a copy and I know it’s going to help me. To have a ready reckoner such as this, is I am very sure, going to be of great help.

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Dawn A. June 24, 2013 at 8:48 pm

I noticed a typo in the book. On page 232 it says the “demo house” was built in 1998 and on page 233 it says the demo house was built in 1999.

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Dawn A. June 24, 2013 at 8:59 pm

On the top of page 279, I think the phrase “won’t order the materials under we own the house” should be “won’t order the materials UNLESS we own the house”.

Reply

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