387: The Step-by-Step Guide to Flipping Houses and High-ROI Home Renovations w/James Dainard

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

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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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