Saturday Quick Tip -- Understanding The Fix & Flip Buy Formula (It’s All About The Math)
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 4 January 2025
⏱️ 16 minutes
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Summary
On today's Wholesale Hotline Podcast (Special Saturday Edition), we help you start your weekend right offering tips, news and mindset advice.
Show notes -- in these episodes we cover:
- Tips to level up your wholesaling business.
- Motivation to keep you going on your real estate journey.
- The latest industry news to keep you updated.
Please give us a rating and let us know how we are doing!
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☎️ Welcome to Wholesale Hotline & Flipping Mastery Breakout! ☎️
Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey, it's Jerry Norton. |
| 0:04.2 | Welcome to the Wholesale Hotline podcast and the Flipping Mastery Breakout. |
| 0:08.0 | We want to know how we're doing, so please leave a comment and give us a rating. |
| 0:17.7 | I want to flip houses where I screw up and still make good money. |
| 0:21.6 | I don't want to do deals where I screw up and don't make very much money or lose money. |
| 0:25.6 | That's not how I want to flip houses. |
| 0:27.6 | Fixing and flipping houses can be one of the most lucrative businesses you can do, |
| 0:31.6 | but you have to understand the numbers. The math doesn't lie. |
| 0:35.6 | Fiction and flipping at the end of the day, it's nothing more |
| 0:38.2 | than a math equation. Understand the math and you can be wildly successful. Okay, let's break it down. |
| 0:43.8 | I want to show you the formula for how to be very successful fixing and flipping. First thing |
| 0:49.0 | we start with when we're going to fix and flip is we have to determine the ARV. ARV stands for after repair value. |
| 0:57.0 | It's the future value of the property once it's fixed up. Now, how do you determine ARV? |
| 1:02.7 | Well, you're going to go into that neighborhood and you're going to look at other similar homes that have recently sold that have been fixed up. |
| 1:09.5 | That is how we determine the ARV of a subject |
| 1:12.5 | property. Everything centers around that ARV number. We start there. Nothing else can happen |
| 1:18.1 | until we really have our head around the after repair value. Once I establish the ARV, |
| 1:24.3 | the next thing I have to do is I have to take right off of the top of that number, things that I have to consider in every single deal I do. |
| 1:32.0 | So no matter what I do, no matter what price I buy it for, no matter what the ARV is, no matter any of that, I have fixed cost to buy and sell a property. |
| 1:41.0 | All of these three things here, the financing, the closing, and the profit |
| 1:46.6 | are a percentage of the after repair value. That's a very common way to do the math on fix |
| 1:52.4 | and flip. So what that means is it means the higher the ARV than the higher the financing |
... |
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