Fix and Flip Calculator - Very confused

[Eric DeVito]

Hello all, I have been doing a lot of research and decided to play around with the Fix and Flip calculator. Let's just say I am very lost in terms of plugging in the correct numbers. How do I determine what the monthly expenses will be for the homes I am looking at in my target market? Do I have to google what that area average monthly expense is for example water, gas, sewer, etc.. each month? Also, how do I figure out the closing cost and contractor cost and then finally come up with a ARV? Also rehab cost? I know it is very important to figure out all these numbers, but how do I begin to do that when I am brand new? Thank you

[Mark Ferguson]

The answers to many of the questions in this thread are pretty basic. If you don't know the answers the first step would be to search the forums and blog posts for people that have already answered them. Trying to explain the entire process of estimating repair costs and all the other costs that go into a flip would take thousands and thousands of words. 

As it was mentioned before if you are serious about flipping you are going to need to be talking to local agents and contractors as well as doing a lot of research yourself. There is no easy answer to these questions as every house will be different, every market is different and every investor is different. It takes hard work to get started.