“I hate math!”
How many times have you muttered that frustration in your life? Even for a math nerd like me, there are times I hate math. However, if you are going to be a successful real estate investor, math is part of the package. This is perhaps most true for those looking to fix and flip a house.
When flipping, simple math errors can result in huge profit losses and discouragement.
However, success is not a mystery. I believe learning how to properly analyze a flip is the first step in a successful and lucrative career in house flipping – and it doesn’t have to be difficult or scary.
In today’s post, I created a video to walk you through the exact steps I use to analyze a fix and flip deal and determine how much potential profit could be made. I am going to be using the new flipping calculator from BiggerPockets, but you could do the same calculations with pen and paper if you needed to.
Take a minute and check out the video below for a step by step walk through of how I analyze this property for a potential fix and flip.
Photo: Byron Barrett
Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.