In addition, you can also save and print PDF reports that you can use to show potential lenders, partners, investors, or buyers.
(Script:)
You know, flipping houses can be a lot of fun.
The idea of turning an ugly house into a beautiful home appeals to a lot of people.
However – what doesn’t appeal to most is the Math.
Learning how to properly analyze an investment property is the #1 most important step to succeed at house flipping.
After all – you don’t want to underestimate how much it’s going to cost to fix up or how much it’s going to cost you each month to hold on to. That’s a recipe for financial failure.
You see – without the right math going into the flip, you’ll never get the right money coming out of it.
This is why BiggerPockets created the “House Flipping Calculator” to help you quickly and accurately estimate the potential profit on a real estate flip – using all the numbers.
You don’t need to be a financial genius or seasoned investor to understand how the numbers work on a house flip. You just need the right tool.
Simply enter in the property information into the “House Flipping Calculator” and in just seconds you can determine your potential profit and other key metrics about your potential flip.
Let me show you how it works.
When you start a new report, you are presented with four easy steps to go through one at a time. Let’s look at those steps:
Step one: you simply enter in property details like address, property tax amounts, and special features about the property. You can even upload a photo of the property if you want.
Step two is all about the financial facts. Enter in your purchase price, closing costs, repairs, monthly expenses, as well as details on the kind of financing you plan on using.
Step three is about your selling assumptions, like the sales price, agent commissions, closing costs, and even the number of days you plan on holding the property for.
Finally, step four is to check out your results. Here you will see the potential profit you might make on the proposed flip – as well as how much money you are going to need to pay out of pocket, how much the flip is going to cost to hold each month, and even some hypothetical profits projections to help you plan for unforeseen problems.
Another awesome feature of the calculator is the ability to download and print PDF reports – that you can use to hand out to other potential partners, lenders, or buyers. This is also extremely helpful for wholesalers who want a professional form they can use to market the property’s potential to buyers. In fact- PRO Members can white-label these reports with your own company logo and information – for an even more impressive presentation.
The BiggerPockets House Flipping Calculator is available exclusively for BiggerPockets Pro and Pro Basic members, so if you haven’t upgraded yet – head over to BiggerPockets.com/pro to do so and be sure to check out all the other great benefits you get by being a BiggerPockets Pro member.
The BiggerPockets House Flipping Calculator is an incredible tool that is going to help take your real estate investing to the next level. So be sure to jump on and try it out today and discover just how easy house flipping math can really be.
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