I Said I'd Never Flip a House...Why I’m Starting in 2025
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!
In This Episode We Cover:
How to invest in house flipping even if you have ZERO renovation/remodeling experience
Finding the deal and why you need to have relationships with wholesalers
How to spot a great potential house flip—and one HUGE red flag to avoid at all costs
Two ways to raise money for your house flips (debt vs. equity) and the pros and cons of both
Picking a real estate investing partner and questions you must ask before you work together
And So Much More!
Links from the Show
Let Us Know What You Thought of the Show!
Ask Your Question on the BiggerPockets Forums
Hear Dave and James on On the Market
Grab James’ New Book, “The House Flipping Framework”
Find Investor-Friendly Lenders
Flipping Houses: How to Get Started and Everything You Should Know
(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!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1058
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