If you don’t know how to analyze a flip, you’re not alone. There are many factors that come into play when deciding whether or not a deal is worth pursuing, especially if you’re on a time crunch.

Today, James Dainard from Heaton Dainard Real Estate has been given a lead from a wholesaler. The contingency? Only 24 hours to decide whether or not he’s in or out of the deal. It’s a perfect excuse for James to show new investors how to underwrite and analyze a real estate deal. This five step process doesn’t take a ton of time and can help any flipper or BRRRR-er decide quickly if they have a deal on their hands.

James’ most important piece of advice in this episode: know your comps and know your area. The more you understand why people are paying the price they’re paying for local comps, the better you can design a house to fit the price point and secure an above-market offer!

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Check Out Last Week’s Episode:
   • Inside a $5 Million Dollar House Flip...  
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How to Analyze a Fix and Flip:
https://www.biggerpockets.com/blog/20...
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00:00 Underwriting 101
00:40 Property Info
01:13 1. Pull Tax Records
01:50 2. Pull Comps
03:48 Comparable Homes
06:25 3. Do a Walk Through
13:10 4. Drive The Comparables
13:54 5. Calculate Your Flip Pro Formula
15:02 Underwrite Your Contract As Well!