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
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Ashley's BiggerPockets Profile
Ashley's Instagram
Tony's BiggerPockets Profile
Tony's Instagram
Real Estate Rookie Facebook Group
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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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359: From His Grandma’s Couch Making $15/Hour to $30K/Year from ONE Property w/Jaryn Pierson
358: Rookie Reply: Loan Pre-Approvals & Picking an Out-of-State Investing Market
357: The $120K Investing Mistake YOU Can Avoid on Your Next Home Renovation w/Justin Noe & Nate Cherubini
356: 3 Steps to Start Investing in Real Estate + 2024 Mortgage Rate Predictions
355: $25K/Month from ONE Property Thanks to a $180K Discount & Creative Finance w/Dayna Hicks
354: How to Unlock Off-Market Real Estate Deals with This “Personalized Pitch” w/Brett Long
353: From Rehab to Real Estate Investor Making $71K/Year from ONE Rental w/Matt McDermott
352: Rookie Reply: Seller Financing & How to Buy MORE Real Estate on YOUR Terms
351: The BEST Rookie Investor Tips, Tricks, Hacks, and Advice of 2023
350: Rookie Reply: How to Start an LLC for Real Estate Investing
349: How to Use Public Data to Find Real Estate Deals That 99% of Investors Miss w/Ariel Herrera
348: How to Take Your Real Estate Business to the Next Level in 2024
347: How to Quit Your W2 Job and Become a Full-Time Real Estate Investor w/Matthew Marcelissen
346: The Multifamily Investing Masterclass: How to Get Started in 2024 w/Andrew Cushman
345: 69 Doors from ONE Real Estate Deal Using Other People’s Money w/Andrew Freed
344: How to Build Wealth Through Real Estate FASTER with a “Limitless” Brain w/Jim Kwik
342: How to Buy Real Estate WITHOUT The Banks (Private Money Explained)
341: No Cash to Invest? Use THIS Side Hustle to Help Buy Your First Rental w/Dan McDonald
340: Why Self-Storage Beats Rental Properties w/AJ Osborne
339: A Beginner’s Guide to the BRRRR Method (Buy, Rehab, Rent, Refinance, Repeat)
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