Do You Actually Know Your Numbers?
Chris and Jason are reminding you about all the fees associated with a rehab project today. They go over how to calculate all your costs (purchase, financing, holding, resale) so that you end up with a 15-20% profit, which is what you should be making on every flip. In their experience, many investors don’t know all their numbers when they start a project, and often forget about holding costs, which is the number one most overlooked fee, and resale costs. Forgetting about any costs will affect your profit, and may make the deal fruitless. With their no-fail formula, you will be well prepared going into every deal, and using their numbers, you can look at deals with the bottom line in mind and keep emotion out of it, which that have cautioned many times.