Here's a quick case study on how Flipper Force and our house flipping calculator tool can save you thousands of dollars by preventing your from buying bad deals.
I saw a guy ask a question on the BiggerPockets' Rehabbing and House Flipping forum about a potential deal he had found.
He thought he could purchase for the property $260k, put $30k in renovations into the property and then resell the property for $330k and walkaway with a $30k profit.
He mentioned he had only assumed "additional costs" of $10k-ish for closing costs, points, interest, etc) in his analysis.
I chimed-in and said that I was concerned that his ‘additional costs’ seemed extremely low and that this property looked like a bad deal!
I ran his deal through our Flip Analyzer tool and there was actually only about $6k in profit in the deal.
If the investor would have bought this deal they may have wasted 6 months of their time flipping a house only to make $6k ($24k less than anticipated)!
This is why it's so important to always run your numbers through a detailed calculator before you make a buying decision, because often times a deal can look great in your head, but can end up being an extremely bad deal on paper once you crunch all of the numbers!
.png)