Using Data to Analyze a fix & flip

[Brian McWethy]

Couldn't help but notice a large part of being successful in house flipping is analyzing data. However, organizing this data is very time consuming.

What data aggregators are people using to find deals? I can build a spreadsheet myself but plugging everything into it takes a ton of time. Also finding out what has recently been sold, which markets have increased/decreased their time on market, gone up/down in price, and other factors seems like a daunting task manually.

Thanks all!

Brian

[Larry Turowski]

@Patricio P. First, I rarely change my price after bringing through a contractor. In fact, I think I never have. I just changed based on ARV when I did further analysis recently.

For ballparking it, ask these questions of your trusted contractor.   Figure out what a typical house size in your area is.  For me it is 1,500 sqft.  Then ask, how much to paint an entire interior?  How much to remodel a kitchen?  How much for a bath?  Windows?  Roof?  Etc.

You'll develop at least an idea.  Say a total gut of the interior, plus roof, siding, windows is $70K.  Does the house look like it needs half of that?  Ballpark it at $40K to be safe.  You're not likely $30K off.  Maybe $10K off.

Just start doing it.  Your biggest problem will be finding a contractor whom you can trust, and who is reasonably pricing, reliable, and responsive.