Topic: How to Evaluate a Flip Deal, (and Get It Right).
Sometimes a deal isn’t as good as we initially think it is. Rough figures, formulas, and doing the math in our head, all can be a big mistake. You may be wondering if people actually get into a deal without understanding all of the known and potential costs. That’s an easy one to answer; yes, they do! And most of the time they are surprised when they see where they went wrong. “You don’t know what you don’t know”.
Almost every day I am asked “Hey Mike, are you interested in this deal”? Or, “can you lend on this deal”? Or, “will you look over this deal”? I love what I do, so this is good stuff for me. I see plenty of good to great deals, and many that would lose, or make very little, money.
What do you need to know to make sure your deal is a winner?
- Reasonable expectations for the renovation.
- Accurate estimation of the resale value.
- Due diligence costs.
- Attorney fees and settlement costs.
- Taxes and insurances.
- Carrying costs.
- Resale costs.
- Loan costs.
Join us for a valuable discussion on all related costs, so you will understand how to make sure your deal is a winner. Aside from learning how to properly calculate a deal, you get to hear from local investors with tips and ideas on how they approach each cost or calculation.
PLUS: If you are borrowing money to purchase and renovate, this meeting will give you the information you’ll need to get your deals funded.
This meeting is a big deal. Don’t miss it!
6:00 pm – 8:30 pm
- 6:00-6:30 – Networking & Food | Sign-in, enjoy Grotto’s menu, and mingle with other local real estate investors!
- 6:30-8:30 – Meeting | Please help us start on time by being seated at 6:30.
Reed Walters grew up in Kent County, Delaware. After graduating from Caesar Rodney High School, he spent 16 years as a restaurant manager. He started his REI business P&S Property Solutions, LLC in 2010. Shortly after starting his business, Reed joined the Delreia coaching group, and was the second person to graduate from the program. In 2015, he left the restaurant industry to pursue investment real estate full-time. Although his primary career is in flipping houses, Reed also has a rental and is currently wholesaling houses.
Reed runs the Kent County Chapter of the DelREIA and leads the On-Site R.E.I Group Coaching (Kent/Sussex) program.