1. Work doesnt begin when you buy the property. Start it before. 2. The scope of work is important. Detail list of all items that need to be fixed. It's a roadmap. 3. Cheap doesnt mean a good deal. 4. You make your money when you buy. Do your math carefully, make a profit. 5. Dealing with contractors is hard. Hire the best ones. 6. It's more expensive than you think to rehab a property. 7. Flipping houses is not easy but it's worth it. Requires patience practice skills budgeting managing. You learn as you do. You're Welcome 😊🙏🏡

Thank goodness for you and bigger pockets! You guys inspire my husband and I so much!

your very encouraging. I haven't flipped a house yet but I do have rental and owner finance homes. I'm older and just trying to create retirement income. keep up the vids.

Flip your collar down

Thank you for sharing your knowledge with us. These 7 tips I would most definitely take into account when I start flipping properties in near future .

I was told from a 20yr investor who has his whole crew and is very well known in the field, that he can and has sold properties over than the arv, cause he does better rehab and makes em look nicer. It makes sense, but its doubtful when so many people say otherwise, like you just said now

Thanks for all the information you’ve shared with us over your channel. I am thinking about getting in to the house flipping business. I am thankful for all the info you share with us. God bless you

I flip home and YES dealing with contractors is very hard sometimes.

I wish you would make 7 separate segments breaking down each topic.

I agree with a comment below - finding the right subcontractors is EXTREMELY important to a smooth running flip project. Once you have subs you know and trust, projects become much easier to manage. Thanks for the Great advice! And....... YES Costs are ALWAYS Higher than you think they will be. Work out the numbers, document your DETAILED scope-of-work and Get bids/pricing from your subs. Don't forget to add your overhead costs like Insurance, Bonding(if applicable), your PM time, and of course your PROFIT on top of all other costs. Once you've added all of this up, add in a little extra (2-3%) contingency and you will probably be getting really close to the Actual cost of flipping or rehabbing the property(Assuming you don't run into any unforeseen problems like Mold, termites, foundation issues, water damage, METH contamination, etc........)

This Is So Awesome, Great Stuff man. Thank U.

You're very informative! Thank God I subscribed.

These are all fantastic tips! I've done four flips now and they've all been different; something that I haven't done a good job of is coming up with a good work scope before starting a project. The flip I'm doing now is the most extensive that I've done and that wasn't exactly expected. We called an audible two weeks into the project and decided to ad a bathroom at the cost of $8,000 which will increase our ARV by $30,000. In terms of materials three out of four of the houses we've flipped at this point are in the same neighborhood. We actually use the same materials in every house and change small things like wall color and floor color while using the same brand of floor and the same flooring contractor. That has really simplified the process and helped us to calculate our costs more accurately ahead of time. Of course I'm pretty new with this.

YES to vetting the right contractor...I've seen too many people get burned by cheap labor or not knowing what a lien waiver is.

have not hired a contractor yet. I've hired roofers and found a helper who knows a lot about everything. I pay him 16.00 an hour and I help him. 5 doors so far. I had framing experience years ago and had built a lot of furniture and cabinets. I've learned a lot since I started this and I love it.

great information. good advice and great video.

Thank you Brandon ❤

Tanx alot for these free valuable information.

Great tips. Thank you, Brandon.

Almost done reading "The Flipping Blueprint" by Luke Weber. Lots of great information in there.

awesome vid brandon!!! THANK YOU!!!!!

Great video thanks Brandon!

Thanks for the info!!

Great video! Great advice :)

Cool info , yes buy for the right price !

great information thank you

My Dad has been a Union carpenter and certified superintendent for 35 years and we want to flip a house because we wouldn’t have to get a single contractor but HOWWWWW does all of the behind the scenes stuff work?! The loans and getting a house in general blows my mind.

Great advise! 😊 Many thanks!

Good thing my uncle is a senior experienced contractor 😎

Opening a checking account for the property. So you open a checking account for each property you flip? Open and then close it when you sell it again?

A lotta work and a lot fixing! Did podcast on this.

Great points Brandon! Do you start planning the cost once you view the home?

Always do your math carefully when doing a flip, not to be confused with Always do your meth carefully when doing a flip lol

Awesome!

Thanks for the tip Brandon....I'm looking to do my first flip this year...my past projects have been rental grade renovations and lease option...I want to soak in all of the flipping training that I can before doing one...I would like to flip SFR and invest in multi families...

Your communication skills are impeccable. Have you taken any classes/gone to seminars on public speaking? Thank you. :)

If you flip do you need a building permit if you do it yourself and then get it inspected by a building code manager?

How will you know/check the house cap or the after/repair value? My idea is buy a house for 90k, spend 20k on materials, sell for 140k. Does the plan work? Me and my dad would do the work so no need of contractors.

You were awesome in SuperTroopers. Great movie.

Good stuff. Pop ya collar! ;0)- Seriously, you popped your collar on one side, I chuckle.

Brandon, fix your collar 🤣🤣

Hey Brandon and everyone else! I’ll be closing on my investment property this month. I don’t know whether I should flip or rent. This house was owned by a friend of mine. He had spent the last five years renovating the entire house which was built in the late 80s and is in a very hot great neighborhood in Charlotte. He had lots of money and decided to do everything in an upscale fashion and I knew the house well. And everyone just loves it. He just passed away recently and the executor wanted to just sell the house quick and close out the estate and he is selling me the house about $50,000 below market value because he just doesn’t want to mess with it. He’s very busy and just wants it off his plate so he excepted my very low offer. So that’s my story on this house and thanks a lot for all your videos! Mark Dixon

Thanks man... I appreciate the headsup. I'm just about to start doing this as a business venture. Doing all my research before I part with my money. Is there a good (real) starters guide you can recommend please?

I've only recently been interested in "flipping houses". Anyone else with some good advice on how to get started

"Crush it!" was that a gary vee poke?! Lol

Good thing I’m the contractor working for myself flipping the house haha.

Brandon do you recommend flipping and leveraging other forms of active measures to earn income before pursuing rentals and passive income...or to do them simultaneously....

Your popped collar is cool. The haters are gonna hate so just let them.

My husband and I have built 3 homes and contractors can skim by just to get paid. Now that you've reminded me of that, Thank you for talking me out of flipping house..lol seriously!

I went to a library hosted real estate discussion years ago. The realtor speaker said if flipping houses was so easy, she and all her colleagues would be doing it, and these fixers wouldn't even make it to a MLS listing; the realtors would snap them up.

Do you guys have any mentorship available for first time flippers?

Hi! Quick question, so we purchased a home in Hawaii with 75,000 sq/ft. for $650k and spent $100k in renovations back in 2005. Fair market value has my home valued at $1.4M (assuming this is accurate). Should I sell and reinvest with the profit or should I rent it out?

Cool

New wholesaling reality show coming soon on our network.

I desperately wish I had know that buying a house cheap enough so you can sell it for $25K more immediately (wholesale it) to the person who will renovate it is faster, easier, less time consuming and way less stressful than picking up a hammer.

I'm 15 but my mom and my moms friends flip and rent out houses so I am definitely planning on doing so as well. Any tips for someone who is younger and planning on doing these things?

What about funding for first time home buyers

any video y’all recommend for someone learnin?

Good info. Music distracting

when you mean a scope or work, are you talking about a home inspection report?

No good contractor is doing work on your house for $30 an hour. If that’s what you’re expecting to pay just plan to be disappointed. Good tradesman make that much & more working for the contractor. So you’re definitely paying much more for anyone of quality.

Good video and good advice. Thank you for that. But $30/hr. for a contractor made me laugh out loud. I don’t know where you live, but that was a bit of a slap in the face.

Did you fix them yourself or subcontract everything? That saves you about 100 thousand right there.

Sounds like there are a lot of pit falls, it's too scary to try it. I'll probably loose money.

His collar...

This video is several years old. Would your advice be the same today? If not, What would you change?

My dad is a contractor and architect and boss that has is own crew soo its easier for me if I ever decided to flip a house

anyone notice that super speed ball of spit coming out at 3:44 ha

ok so ur a house flipper. well do u need everything to be fixed by someone that is certified? and do you need special schooling to sell a certain amount of houses per year?

You really want to flip houses doit your self and get help of the jornaleros that stand on different cities you can hire the right ones by days and is most sheaper that deal with contractors

As a contractor it sucks to hear how many people get fucked over.

So people think it’s hard because it requires them to do work? Come on people. I haven’t heard any other complaints about house flipping other than “It takes a lot of time” like so???? It’s very lucrative, of course you’re going to have put in work. What’s so scary about that? I thought people didn’t like it because of some ungodly back bending you’d have to do, they way they talk about it but no. People go wrong cause they underestimate and don’t plan for it which is odd to me considering you’re buying a whole house and doing big renovations!

3:01 please define "bad neighborhood"

What if you have friends who are trustworthy and do good work instead of going out and finding contractors , isn’t that good as well ?

first of all take the restate test and represent your sell as the seller and buyer that alone says $15,000 plus. Do alot of the work yourself. Never hire a contractor their the middle man sub all the work out your self.

I know this vid is old... but I'm just getting started and I have yet to find the answer to the age old question... how do you get financing for your first flip?

Many thanks, been searching for "real estate investor opportunities" for a while now, and I think this has helped. You ever tried - Ponasson Estate Earthman - (do a search on google ) ? Ive heard some awesome things about it and my buddy got cool results with it.

3:51 oh really? im a contractor and our boss only lets us get what we need for the job whenever he feels like it makes us only clears checks when he feels like it work like dogs to make him bank i hope you never did this to ur contractors

It is easy 😂😂

Good contractors know better to work for flippers

Just be your own contractor so easy

Ehh not a fan. This pushes prices up and creates the infamous housing bubble. Ordinary families are not able to afford buying a home in this market because of these kinds of activities. :(

Skilled labor isn’t cheap labor unless your ok with your contractor exploiting illegal immigrants construction is expensive. Insurance, fuel , payroll and tools are a fraction of the cost that go into being a contractor. Everyone always complains about the price while knowing nothing about the industry. While there shady people in all walks of life you always have to be on the look out but just because something is expensive doesn’t mean your getting ripped off it cost money to do construction a lot of money

No. Contracting is hard. You bid too low next thing UK you go under and your business is gone.

I found a house for around 90k. I think my opportunity just showed up

50-cent party

I hate my contractor, I think he wants to be sued.

5:31 What's he saying???

Welp it looks like the real estate market is back all the real estate Flipper's are coming out the wood work.

anybody else notice the spit that came out his mouth at 3:45.....or am I tripping.. but good advice lol

This is the 7 tips? Really? More like the kind of tax to expect when you actually sell your flip? Should you register as a Corp or a agent or an llc? So many things that you could of said

Damn he kinda discouraged me.

Flippers have ruined it for people to get a cheap house.

You should be standing 2 feet to the right, in front of the book case. You would have 8000 more views if you were 2 feet to the right. STOP STANDING ON THE LEFT! for your health!

the way he keeps putting together his hands and separating them annoys me

I think you meant indentured servants not a contractor lmfao

"I've spent the last decade now" -wait how old r u?

$30/hr contractors? 😂 They own a business do they need to make money too.

Dude! stop moving your hands so much!!! I'm glad you're not a heart surgeon.

You're still a little bit arrogant.LOL