Brandon Turner of BiggerPockets.com reveals the house flipping numbers that he uses on fix & flip deals. Watch this short video to learn the flipping house numbers that matter the most – your risk & your profit.
How to Analyze a Real Estate Fix and Flip
This video will walk you through the step by step process I use to analyze a real estate fix and flip, using the new BiggerPockets Fix and Flip Analysis and Reporting Tool.
Important House Flipping Numbers
- Know your A.R.V. – After repair value is the most important number. Consult a real estate agent to make sure you have accurate numbers for your comps, square footage, and neighborhood.
- Know your repairs cost – Get written quotes from three general contractors for any work you are subbing out. Always add in 10% extra for unforeseen costs.
- Execute the flip right – Have systems in place for monitoring progress because time is money. Delays getting permits, missing deadlines, and work interruptions are all costly.
Make sure you gather all your other cost numbers for your calculation:
- Loan costs
- Selling expenses
You can find the house flipping numbers tool Brandon uses here.