Flipping houses might look glamorous on TV, but the real magic happens long before the first hammer swing—it starts with choosing the right property. In this episode, I break down the essential first step of a successful flip: how to find the right deal in the right market with the right numbers. Whether you’re brand new to real estate or ready to scale up your flipping business, this episode gives you a clear, strategic approach to buying smart and setting yourself up for profit.

 

I’ll walk you through how to use local market data to guide your decisions, what property types attract the most buyers, and the specific formula I use to reverse-engineer purchase prices based on potential resale value. This is your blueprint for finding the best opportunities—and avoiding costly mistakes—when flipping homes.

 

Episode Timeline Highlights

[0:00] - Introduction

[0:42] - The 4 F’s of flipping: Find it, Fund it, Fix it, Flip it

[1:29] - Why data is your best friend when choosing a flip property

[2:22] - Using your local MLS to identify your market’s average sale price

[3:06] - Why staying under the average price gives you a bigger buyer pool

[4:55] - Backing into your numbers: how to estimate profit and purchase price

[7:07] - What goes into your total budget: repairs, financing, holding costs

[8:50] - Creating your “buy box” and how to ask agents or wholesalers for deals

[9:44] - Should you target 1-bedrooms or 3-bedrooms? How to use sales data to decide

[11:00] - The importance of square footage and school districts in resale value

[13:35] - If you’re only doing a few flips per year, be picky with your deals

 

3 Key Takeaways

1. Use your local average sale price as a guide—buy below it and aim to sell at or under it to reach the widest buyer pool.

2. Reverse-engineer your budget by working backward from your target resale price, subtracting expected costs and profit to determine your maximum offer.

3. Let data lead your decisions—analyze what’s actually selling in your market (by bedrooms, square footage, and school districts) to identify high-demand properties.

 

Links & Resources

• Learn more and sign up for our next workshop at DealFinders.Club

 

Thanks for tuning in to the Deal Finders podcast! If you enjoyed the episode, be sure to rate, follow, and share the show. Every review helps us reach more investors ready to build their flipping business the smart way. Let’s get out there and find that next deal.