This is the #1 thing that scares new house flippers.
“What if I pay too much for the house?”
It’s a valid fear. I’ve made this mistake myself in the past.
Here’s how to ACCURATELY calculate your maximum offer price so you know how much you can pay and still make money on the deal…
A lot of house flippers hold back because they don’t want to get the offer price wrong.
So I asked Tyler Jensen to join me on the 7 Figure Flipping podcast again today to share some tips on how to do it right.
We’re digging into things like…
- The truth about the “70% rule…”
- What formula to use…
- How much profit Tyler plans to make on each deal…
- How to estimate holding costs…
- How to plan for the worst-case scenarios…
- We you shouldn’t be conservative on everything…
Listen in now!
Links and Resources
A big part of getting your offer right is knowing how to comp the property. I posted an episode a little while back where my friend Arthur Botting and I broke down comping in detail and dug into some examples. Check it out!
– CLICK HERE: How to Comp Properties
If you’re an experienced real estate investor and you’re ready to get around a community of active house flippers and wholesalers who will support you, hold you accountable, and push you to set goals that inspire you as you grow your business, check out 7 Figure Altitude and see if it looks like a good fit. If it is, I invite you to fill out a quick application to join. If you have any questions, reach out!
– CLICK HERE: 7FigureAltitude.com
Want to learn how to find private money to fund your real estate investing deals? Check out the 30 Days to $500k Challenge. It’s a 30-day “course” where I break down the step-by-step process I’ve used to raise $10,000,000+ over the past few years. But it’s not just information… I’ve laid out specific action steps you’ll take EACH DAY to start raising all the private money you need to grow your real estate investing business. Hit the link below to jump in now…
– CLICK HERE: 500kChallenge.com
Follow the 7-Day Flip series on YouTube! Can Tyler Jensen and his team flip 4 houses in 7 days? (Start to finish, full renovations?) Subscribe to the 7 Figure Flipping YouTube channel and watch the whole series!
– CLICK HERE: Subscribe on YouTube!
Want to get into multifamily investing? I’m partnering with Jason and Pili Yarusi to bring you our first-ever multifamily real estate investing event, Multifamily Live. It’s happening June10-12 and it’s completely virtual. We’re going to walk you through how to find high-profit, cash-flow-ready multifamily properties off-market and how to run lightning-fast syndications to fund multi-million-dollar deals instantly without using your own capital or bank loans. Anyone can do this… and the upsides on these deals are huge. Spots at the event are limited. Hit the link below to sign up!
– CLICK HERE: Multifamily Live Event
Want to continue your house flipping / wholesaling journey? Here are a few more resources to check out…
Subscribe: Join the 7 Figure Flipping email list to get the latest house flipping and wholesaling secrets, plus insider access to real estate investing tips, training, and more! Click Here: https://7figureflipping.com/subscribe
7 Figure Flipping Podcast: Subscribe and get more episodes like this one delivered to you every week! Click Here: https://7figureflipping.com/listen
Facebook Group: We’ve built a community of serious investors who are learning and growing their businesses together. Join the Group on Facebook: https://www.facebook.com/groups/fliphacking/
7FigureFlipping.com: Learn more about who we are, our mentoring groups, upcoming events, and the causes we support at our website. Plus, grab some free downloads and other materials to help you on your real estate investing journey! Click Here: https://7figureflipping.com/