In this episode, Nick Beveridge and Jeremy Kitchen dive deep into the world of fix and flips. They share their personal experiences and insights into buying, renovating, and selling properties for a profit. From analyzing deals and understanding renovations to working with real estate agents and wholesalers, this episode covers it all. Nick and Jeremy discuss the 70% rule, the importance of accurate property analysis, and share a success story of a property they purchased, renovated, and sold for a substantial profit. They also highlight common mistakes to avoid and offer tips for managing finances and reinvesting profits. 🔑 Key Takeaways: Fix and flips can be high-risk but offer high rewards. Analyzing deals and understanding renovations are crucial for success. Building relationships with agents and wholesalers helps find good deals. The 70% rule: buying at a 30% discount and factoring in repair costs. Accurate analysis and due diligence are essential. Consider potential rentals and avoid over-renovating. Choose hard money lenders wisely and manage finances effectively.

📌 Chapters: 00:00 Introduction 01:10 Introduction to Fix and Flips 05:55 Understanding Fix and Flips as a Job 09:12 The Time and Effort Involved in Fix and Flips 14:29 Determining the Scope of Work 26:47 Analyzing Deals: ARV and Repair Costs 39:02 The Cost and Profit of a Fix and Flip Property 47:21 Considering Rentals and Partnerships 55:58 Avoiding Over Renovating and Analyzing Property 59:50 Understanding Hard Money Lender Fees and Terms 01:06:36 Lessons Learned from a Costly Fix and Flip 01:12:14 Mistakes in Analyzing a Property for a Flip 01:14:10 Managing Finances and Reinvesting Profits

🔗 Connect with us: Official YouTube Podcast Page: https://www.youtube.com/@TheInvestorShed

Nick Beveridge's YouTube Page: https://www.youtube.com/@NickBeveridge Real Estate

Website: northidahorei.com

Facebook: https://www.facebook.com/profile.php?id=100063653307069

Instagram: https://www.instagram.com/theinvestorshed/