Can you still make huge profits from real estate in today’s market? While high interest rates and inflated home prices can make it difficult to find a cash-flowing rental property, there’s another strategy that delivers big returns—if you can stomach the extra risk: house flipping!
Welcome back to the Real Estate Rookie podcast! James Dainard is a master house flipper, co-host of the On the Market podcast, and, most recently, author of The House Flipping Framework. With over eighteen years of real estate investing experience and more than 3,500 projects under his belt, James knows more than a thing or two about this lucrative investing strategy. Today, he joins the show to share a few tips from his new book—like how to find the right deal, choose high-quality contractors, and keep your project on budget!
Whether you’re new to flipping houses or you need help with home renovations, this episode is loaded with advice to help you start and stand out. You’ll learn everything from choosing a market and analyzing distressed properties to building your team, estimating rehab costs, and more!
In This Episode We Cover:
How to start flipping houses and stand out in a tough housing market
The “biggest lie” in real estate that will stop you from making a profit
Why finding a flip-friendly real estate broker is crucial to your success
How to calculate your annualized return (and why it matters for house flips)
How to choose the right market and build your team for out-of-state projects
The step-by-step process for building out an accurate scope of work
Staying on budget (and on schedule) with cost-effective home renovation tips
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Tony's BiggerPokckets Profile
Join BiggerPockets for FREE
Real Estate Rookie Facebook Group
Real Estate Rookie YouTube
Put Your Vacation Rental on Autopilot with Hospitable
Buy James’ New Book “The House Flipping Framework”
Find an Investor-Friendly Agent in Your Area
Flipping Houses: How to Get Started and Everything You Should Know
Connect with James
(00:00) Intro
(01:11) Planning Your Project
(05:48) House Flipping Returns
(14:39) How to Choose a Market
(19:11) Building Your Team
(26:06) Estimating Rehab Costs
(36:09) 3 Tips for Selling Flips
(39:49) Connect with James!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-483
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