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Updated over 2 years ago on . Most recent reply

User Stats

5
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2
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Daniel D.
2
Votes |
5
Posts

Potentially looking at my first flip

Daniel D.
Posted

New to the game here, a rookie, 0 purchases or rentals so far. Have done lots of research, lots of reading (books, bigger pockets podcast, "how to invest in real estate") and looking to take the plunge on my first deal. My question is, what are the main things to look at when making a flip? What should I look at before making an offer. What numbers have to line up and make sense? I have a property in mind that looks like I could do a few small things to it (flooring, paint, and maybe some kitchen appliances) and turn around and re-list it (or potentially rent it out). Seems like the 1% rule looks fine. I think I've read enough and done enough research where the next step is actually making a move and getting my hands dirty. Figure out the rest as I go.

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