Fix and Flip Day 2

Complex processes and decisions are made clear with this guide to purchasing a property, making improvements, and selling.

35
Hrs
Mins
Secs
05
44
16
Segments Duration
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INSTRUCTOR

Ben Heather Echevarria

Ben and Heather have been real estate investors for over a decade and moved from doing a few fix-and-flips on the side, to creating several large companies. Through Innovative Custom Homes, they strive to make each home a work of art and craftsmanship, and have cornered this market by creating a home that owners are truly proud of and an environment where people want to live for years to come. “Building a home is about creating an experience that will become the foundation of your lifestyle.” 

Description:

Timing is pivotal in the Fix & Flip strategy. Learn how to analyze the ideal target property, then identify the specific steps that will be required during the Fix & Flip process for that property to achieve the highest success and massive profits. Decide which tasks to undertake personally when doing a Fix & Flip, and when and how other tasks should be delegated to sub-contractors and team members. Learn the specific “how-to’s” that generate on-time project completion and profitable margins. We will review the acquisition, repair, escrow, and marketing processes, in addition to detailed property evaluation strategies which allow you to estimate repairs accurately the first time. Find and recruit with the best people for your team and learn effective strategies in positioning your investment property for sale. Make sure you know the target market of your property, and the attributes that will make that property valuable in that area.

  • 01

    Pre-Assessment

    This Pre-Assessment is to raise awareness of your current knowledge level and give you a glimpse of the information covered in this course.

  • 02

    Writing Offers

    What are the key pieces of information that need to be included in a purchase offer?

  • 03

    Fine Print and Disclosures

    The instructors address some of the details of the offer.

  • Show all 35 segments

    • 04

      Fine Print and Disclosures, Question and Answer

      A difficult investment property situation provides opportunity for class discussion and learning.

    • 05

      Funding

      The instructors share options for funding, from bank loans to lines of credit.

    • 06

      Funding Options, Continued

      More questions are answered, with banks and credit unions as the focal point.

    • 07

      Joint Ventures

      Working with others requires specific paperwork and communication for a successful venture.

    • 08

      Staying Organized

      Heather shares an experience when being organized paid off in a big way.

    • 09

      Photography

      A good photographer is worth paying for, as illustrated by the photo examples in this segment.

    • 10

      Subject-To Property Research Form

      The instructors go through the process of locating comps for analysis.

    • 11

      Subject-To Property Number Analysis

      The same example is carried through to the property number analysis.

    • 12

      Non-Traditional Funding

      Partnerships and hard money are two non-traditional funding options that are discussed.

    • 13

      Finding and Hiring Contractors

      From a local building contractors association to social media, the instructors share methods for acquiring reliable contractors.

    • 14

      Finding and Hiring Contractors, Continued

      Heather shares her process for hiring and communicating with a contractor.

    • 15

      Reviewing a Bid for Accuracy

      Details of reviewing a contract are discussed in depth.

    • 16

      Contractor Warranty Lien Waivers and Job Site Cameras

      Know what the restrictions are on warranties and what should be included.

    • 17

      Rehabbing Systems With the Lowe's List

      Using a list of commonly purchased items can save time and money when buying rehabbing supplies.

    • 18

      Lowe's List and Mitigating Security Risk

      More suggestions for purchasing supplies and reducing chances of security breach.

    • 19

      Lowe's List, Continued

      Supply product preferences and suggestions are discussed.

    • 20

      Project Management Bid and Budget Estimation

      The instructors walk through the purpose of a project breakdown sheet.

    • 21

      Project Management Utilities and Security

      The issues of utility payments and security are covered.

    • 22

      Once You Buy the Property

      Permits and port-a-potties are just two important steps to take.

    • 23

      Permit Question and Answer

      Ben and Heather answer questions related to acquiring permits.

    • 24

      The Construction Bible

      A property inspection and pictures of the yard are two components of the construction bible.

    • 25

      Quality Jobs and Attention to Detail

      From carpet to demo crew and buried outlets, the instructors share what they do to keep things running smoothly.

    • 26

      Meeting with Trades

      Communicating with trade workers is a crucial part of the demolition stage of a remodel.

    • 27

      Creating a Schedule

      How often should you reconcile a project schedule or calendar, and what can you do to ensure a quick project completion.

    • 28

      Reconciling Your Finances Frequently

      Heather explains her system for keeping on top of each project's finances.

    • 29

      Fun Project House in Boise

      The instructors share experience in dealing with unexpected challenges in rehabbing.

    • 30

      Fun Project House and Property Lines

      There is always more than one way to make a profitable deal.

    • 31

      Fun House Project Question and Answer

      The class questions are answered, covering topics such as using the surrounding neighborhood to determine the target end product.

    • 32

      Remodel Outline

      From framing to finish, this list provides direction for remodeling a property.

    • 33

      Before Listing

      Items to check before listing include staging, professional pictures and signed permits.

    • 34

      Question and Answer

      The importance of a business plan is reinforced by your 90 day strategy and action plan.

  • 35

    Post-Assessment

    This Post-Assessment is to measure your increased knowledge and see how much information you have retained from the course.