Want to begin flipping houses in 2024? With this popular investing strategy, you could build a lucrative and flexible real estate business. All any rookie needs to get started is a few skills and a little know-how, and there’s no better person to get you up to speed than today’s special guest!
Welcome back to the Real Estate Rookie podcast! Today, we’re joined by James Dainard, investor, master house flipper, and co-host of the On the Market podcast. James has flipped over 3,000 homes to date, and in this episode, he’s going to show you how to flip your first house, step by step, from start to finish. From creating an accurate budget (and sticking to it!) to choosing home renovation projects that deliver the highest return on investment (ROI), this masterclass has everything you need to make your first flip a successful one.
You’ll learn how to find the best contractors for your rehab, strategies to keep your project on track, and why you should involve your real estate agent throughout the entire project—not just when it comes time to list your property for sale. James even shares his own flipping horror story that cost him hundreds of thousands of dollars and the biggest lessons learned from that experience!
In This Episode We Cover:
How to ensure that your BRRRR property will cash flow before AND after refinancing
Creative financing solutions to use when hard money becomes due
What you NEED to know before getting into commercial real estate investing
How to fully furnish your short-term rentals on a tight budget
Addressing rent increases and maintenance issues with difficult tenants
And So Much More!
Links from the Show
Find an Agent
Find a Lender
Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
Join BiggerPockets for FREE
Submit Your Real Estate Rookie Question!
Apply to Be a Guest on the “Real Estate Rookie” Podcast
A Step-by-Step Guide to Estimating Rehab Costs w/ Master Flipper & Investor James Dainard (Part 1)
Finding Contractors, Renovation Red Flags, and Estimating Rehab Costs (Part 2) w/ James Dainard
Rookie Reply: Estimating Rehab Costs, Finding “Hard Money,” & Tax Planning
Watch James on the “On The Market” YouTube Channel
Hear James on the “On The Market” Podcast Wherever You Listen to Podcasts
Connect with James
James' BiggerPockets Profile
James' Instagram
James' Website
James' YouTube
Check out more resources from this show on https://www.biggerpockets.com/blog/rookie-387
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239: The Rookie's Guide to 2023 Goal Setting: How to Achieve HUGE Goals This Year
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237: The Cash-Flowing Car Wash and Early Retirement Through Creative Real Estate w/Daniel Schiermeyer
236: Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials w/Pace Morby
235: Investing in 100-Year-Old Homes Straight Out of College and the "PRR" Method w/Amy Wright and Mitch Mathern
234: Rookie Reply: You DON'T Need Experience to Invest in Real Estate w/InvestorGirlBritt
233: $1.1M in Real Estate at 21 WITHOUT a W2, Tax Return, or Degree! w/Logan Kohn
232: Double Your Cash Flow Overnight (In ANY Market) with Medium-Term Rentals w/Sarah Weaver and Zeona McIntyre
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230: Rookie Reply: The 1% Rule, Turnkey Rentals, and Escrow Accounts Explained w/Zach Lemaster
229: Cashing In On Overlooked Off-Market Deals & Overcoming Analysis Paralysis w/Ryan John
228: Rookie Reply: How to Beat Cash Buyers, Tenant Brawls, and Appraisal Tips
227: The Vice-Principal Who Built a 9-Unit Rental Portfolio on The Weekends w/Mackenzie Grate
226: Rookie Reply: Financing Your First Rental, Leases, and High Interest Rates
225: Tiny Homes, Huge Profits: $6,000 a Month from 1 Property! w/Josiah Hein
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