How to Do Your FIRST House Flip in 2024: Budgets, Renovations, and Loans

11 snips

Oct 30, 2024

Rene Hosman, community manager at BiggerPockets and a rookie house flipper, shares her thrilling journey of tackling her first renovation project. She reveals how she snagged a competitive property in Denver, secured quick funding from a private lender, and developed her budgeting strategies. Listeners learn about estimating rehab costs, managing a financial buffer, and the advantages of investing in familiar territories. Rene’s real-life insights provide a roadmap for aspiring flippers stepping into the vibrant real estate market.

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ANECDOTE

Rene's Real Estate Journey

Rene Hosman sought financial stability through real estate after working in hospitality.
Her first investment was a two-bedroom condo in Denver, intending to rent out one room.

ANECDOTE

Rene's Portfolio

Besides the flip, Rene owns two other units in the same building and a single-family home.
She also bought mountain land with her partner in 2020.

ANECDOTE

Building Ownership Goal

Rene's flip is in a small eight-unit building where she already owns two condos.
Her goal is to eventually own the entire building.

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