How to Fix & Flip Houses without Mistakes

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How do you Analyze without getting burned!

 

 

 

A. The Biggest Mistakes are:  Not planning for Lender costs, forgetting other holding costs, under estimating Rehab budget, Over estimating your After Repair Value, and Napkin analysis (not doing the math correctly).

B. How to estimate rehab costs like a real champ: Do a detailed walk through with a Video and talk about it, record it and or write it down. Divide it into catagories, get bids or go to Home Depot or Lowes, so when in doubt ask the Home Stores.

C. Rule of Thumb; 70% rule using the quick and dirty rules; Purchase price times 70% AFR (after repair value).

D. How to analyze a Fix & Flip; After repair Value, sales closing costs, holding costs, rehab costs, financing costs, purchase closing costs  all = Pre Tax profit.

These tips should help you analyze a house flip opportunity and save yourself from a financial disaster.

Happy House Hunting,

Contact me for more tips… Donna Bishop Realtor at Jones & Co. Realty  239-560-3149  or donnabishoprealtor@gmail.com

 

 

About donnabishoprealtor@gmail.com

Awesome Service: I make dreams come true. I am a Real Estate Consultant. I place great value on the needs, expectations and goals of all my clients whether buying or selling. By helping they find their perfect solution. I will truly listen to you. I have 33+ years experience in all phases of real estate. I am a Loan Modification Specialist, a Short Sale Expert, and a Successful Negotiator. A certified Senior Real Estate Specialist. Former Owner/Broker of A & B Mortgage Brokers of Fl. Plus a former Appraiser. A Professional Realtor. This experience and knowledge gives me the confidence to advise you correctly. I want you to have an Awesome Experience so you will recommend me to all the people you care about. After all, a referral is sending someone you care about to someone you respect.

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