Beginner home flipper
4 Replies
Alaire Krueger
Property Manager from Sioux Falls, SD
posted about 1 year ago
In need of some tips and tricks, anything helpful that you may find could help out a beginner home flipper?
J Scott
(Moderator) -
Developer from Sarasota, FL
replied about 1 year ago
There is enough information on this site to teach you everything you can possibly learn through reading. Read through the forums, read through the blog posts, watch the related webinars, and check out the BP flipping/estimating books:
Dan Welling
replied about 1 year ago
Simply put- Know your numbers First of all! don't pay too much for the property.
Expect the worst and always prepare for that. Its not always smooth sailing.
Secondly- Vet your contractors and Subs, If they want payment up front be very careful (I Don't Pay anything up front unless I have a few people that can vouch for them, and its nothing more than paying for materials). Set clear expectations and deadlines and stick to them.
J Scott
(Moderator) -
Developer from Sarasota, FL
replied about 1 year ago
https://www.biggerpockets.com/...
I'll be talking about how to determine the right amount of rehab to maximize profits on your next flip.