First Time Flipping Houses

[Justin Rifici]

Hello! My wife and I are looking to start flipping houses (we’ve been discussing it for over a year). We see our first prospective property this Friday. What advice do you all have for first timers? What general items do you either look for or runaway from? We’re both terrified and excited to begin this journey.

[Michael Plante]

Researching for a year I hope you are prepared with the most basic of things 

Have you already determined how much the house will sell for when it is repaired?
easy to do on Zillow 

If not I wouldn’t waste my time nor the agents time looking at it 

This is what I do.  NOT saying it is the correct way 

Look at a neighborhood.  Go to open houses see what has been redone.  See how much they  sell for 

When a house in that neighborhood comes up for sale I know how much it will sell for, how much the materials will cost and approx how much the labor will be 

I offer what will make me the profit amount I set for myself 
how to figure out fox up costs?  Get on the Lowes app and go one by one LVT cost per square foot.   

Paint per 5 gallon container

Ceiling lights for each one 

Go on Amazon 

Cost for kitchen faucet 

Cost for shower heads 

Cost for shower curtains 

Cost for shower rod 

Talk to contractors you were Refered to on local Facebook market place.  How ouch they charge to install 1300 square feet of LVT?

How much they charge to put in 5” baseboard for 1300 square foot house 

How I uh they charge to change out kitchen cabinet pulls

How much they charge to change out kitchen faucet 

How much they charge to demo cabinets 

etc Etc