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Flipping Junkie - Danny Johnson - For Those Addicted to Flipping Houses

Flipping Junkie is a podcast for people addicted to flipping houses and real estate investing. Subscribe for weekly episodes with interviews from regular Joe house flippers that have become successful flipping houses as well as expert real estate investors sharing their best secrets on how to flip houses for big profits. Find out in detail, what is working today, to find great deals for flipping, how to properly analyze deals for flipping, renting and owner financing, determine repair costs, find contractors and manage rehab crews, what improvements to make and how to quickly sell your houses for big profits. Don’t worry, we won’t leave out the serious mistakes that you need to avoid when get starting and growing your real estate investing business. Join Danny Johnson to get the inside scoop on how to get started in this life changing business that has such huge potential to create financial freedom for you and your family.
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Flipping Junkie - Danny Johnson - For Those Addicted to Flipping Houses
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Now displaying: Category: estimating repairs
Oct 26, 2015

Mike Hambright is a Real Estate Entrepreneur.  He’s purchased hundreds of houses over the past few years, along with his wife, Lindsay. 

Mike is a professional rehabber, wholesaler, and owns a single family rental portfolio.  He is also a mentor and coach.

Some of you may know Mike as the founder of FlipNerd.com, the leading social platform for real estate investors where investors find and market wholesale deals, find and build a vendor team, build community with other investors, and much more…. a super cool site.

He and his wife were in the corporate world before getting into real estate and he came to the realization that he needed to be in control of his income.  That’s when he got into real estate investing.

In this episode, we delve deep into how to determine repairs costs for typical rehabs.  This is something many of you out there are struggling with and definitely something I struggled with early on.

If you can accurately determine repair costs for a rehab, you could lose money on a flip.  Not good.

You’re going to get to hear some great rules of thumb for determine the most common repair costs.

Learn what domino effect to avoid when doing repairs to a house and hear how to determine just how far you should take a rehab and how to know the level of fixtures and finishes to use.

You will also hear how to make a decent guesstimate for an unknown so that you can go ahead with your calculations and make an offer quickly.

We covered a lot of repair estimate rules of thumb in this episode while virtually walking through a house. 

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