Thorndale, PA · Member since 2017 · 68 posts · 15 votes
I'm wondering what is the average profit per flip. I attended a RE seminar and the guy teaching the class was saying he won't do a flip unless he makes $50k profit minimum. Which sounds amazing if that is true.
I'm looking to flip to build capital to invest in multi family and I'm just wondering what kind of profit you can expect on a flip?
$50k per flip minimum is only 1/3rd of the equation. How much did he invest in total to buy, rehab, and hold, and how much time did it take from purchase date to sold date. i have made over $200k on flips and made $1M on one flip, but the money invested, time taken, along with other factors determine if it was worth it or not. Spouting off total profits is meaningless without knowing the rest of the details.
Point being, as Daniel mentioned above, focusing on the total profit is not wise, focus on all the numbers before deciding if you should move forward or if the deal done was a success or not.
When starting a new flipping company has anyone started with a new business license and LLC? What is the best way to go about purchasing a property under a business and then flipping it?