438: House Flipping 101: How to Find Deals, Vet Contractors, & Manage a Rehab w/Sean & Ann Wayne

Every real estate deal is hard work, whether your investing strategy is house flipping, buy and hold , or even wholesaling . If your goal is to not only get a great deal under contract but also make money after closing, you won’t want to miss this episode! Welcome back to the Real Estate Rookie podcast! When we last spoke with husband-and-wife investing duo Sean and Ann Wayne, they had completed twelve deals—an impressive feat for any new investor. But over the last three years, they have discovered all kinds of tips, tricks, and strategies that have helped them triple their output in that time. How did they do it? In today’s episode, they’re going to update you on their investing journey and share their findings with you! Tune in as Sean and Ann teach you about flipping houses and home renovations. Along the way, you’ll learn about the importance of design proposals—your secret weapon for organizing rehab projects, managing your timeline, and keeping your budget in check. You’ll also learn how to save money on materials, the biggest dos and don’ts when working with contractors, and some of the biggest rookie mistakes to avoid on any project! In This Episode We Cover What you must know before starting your own house flipping business Why crafting a design proposal is crucial before kicking off a rehab project The number one mistake rookies make between contract and closing Why it’s so important to define roles within your real estate business How to find and keep a good contractor (and the dos and don’ts of managing them) Why you can’t afford NOT to have a survey done before a house flip And So Much More! Links from the Show Real Estate Rookie Facebook Group Ask Your Question on the BiggerPockets Forums Join BiggerPockets for FREE Buy “The Book on Flipping Houses” Find an Investor-Friendly Agent in Your Area See Ashley and Tony at BPCON2024 in Cancun! Real Estate Rookie – Episode 63: Diverging From Corporate Life to Flip Houses Full-Time with Sean and Ann Wayne (00:00) Intro (00:44) Current Portfolio & Strategy (05:55) How to Find Deals (09:30) Working with the City (15:24) Design Proposals 101 (17:52) Saving Money on Materials (26:11) Getting Creative with Design (30:41) KEY Advice for Rookies Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-438 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com . Learn more about your ad choices. Visit megaphone.fm/adchoices