Episode #1,058
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Episode Show Notes:
https://www.biggerpockets.com/podcasts/real-estate?utm_source=youtube&utm_medium=description&utm_campaign=none
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Dave said he’d never flip a house. He doesn’t have the handyman skills; he doesn’t like managing contractors, and he can’t design a floor plan. So why now, coming into 2025, has he decided to flip his first house? It’s simple—an opportunity was presented to him that he couldn’t pass up. Partnering with expert investor James Dainard, Dave is flipping this house with James acting as the operator and Dave as the investor. If you’ve ever wanted to get into house flipping but felt like Dave, this episode will show you how to start.
If Dave isn’t managing contractors or handling permits, what role does he play? Today, Dave and James are walking through their unique house-flipping partnership, explaining why James made an offer on the property within hours of hearing about it, their rehab budget, renovation plan, potential profit, and some hiccups they could run into (asbestos!).
James is even sharing his expert tips on how to know a property is worth buying for a flip and questions you must ask a flipper or lender BEFORE you start working with them. We’ll keep you updated on this flip’s progress so you can see exactly what goes right, what goes wrong, and how much money this property will make!
00:00 Intro
02:23 Finding the Deal
03:30 Purchase Price, Rehab Costs, & Comps
08:16 Signs of a Good Flip
11:52 Permits, Plans, and...Asbestos!
13:50 How to Passively Invest in Flips
18:53 Picking a Partner
29:02 Ask THESE Questions
33:28 Follow the Flip Progress!