Real Estate Rookie

How to Start Flipping Houses for Huge Profits in 2025 (Step-by-Step!)

Nov 13, 2024

James Dainard, a master house flipper and author of The House Flipping Framework, shares his insights on navigating today's tricky real estate market. He discusses how to identify profitable flips and choose the right contractors. James emphasizes the importance of calculating annualized returns and finding a flip-friendly broker. He also highlights essential strategies for assembling a successful flipping team and marketing properties effectively. Whether you're a rookie or looking to enhance your skills, this conversation is packed with invaluable tips!

47:02

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Episode guests

James Dainard

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Episode notes

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Quick takeaways

Successful house flipping in today's market requires effective resource management and building strong relationships with trusted contractors and vendors.

Evaluating potential deals based on annualized returns, rather than just gross profits, leads to more informed investment decisions and risk mitigation.

Deep dives

Navigating the Current Market for Flipping

Adapting to high interest rates is crucial for real estate flippers looking to succeed in the current market. Investors need to shift their strategies away from solely focusing on the purchase price and instead emphasize execution and resource management. A seasoned flipper relies on a well-rounded team, including trusted contractors and vendors, to effectively implement their vision while controlling costs. Those who prioritize developing strong relationships with these resources often see the most successful flipping ventures.

Intro

5min

Evaluating House Flipping: The Importance of Annualized Returns

3min

Promotional Highlights for Real Estate Investors

2min

Determining Profit Margins for House Flipping

4min

Navigating the Real Estate Landscape for Investors

4min

Building a Successful House Flipping Team

8min

Mastering House Flipping Essentials

5min

Building an Effective Scope for House Flipping

10min

Essential Tips for Selling Flipped Properties

4min

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