Want house flipping tips for 2023? If so, James Dainard is the man to ask. He’s survived multiple recessions, with decades of investing experience in some of the most high-priced markets in America. James knows that house flipping is NOT a risk-free way to invest, and 2023 could pose some serious threats to not only new flippers but established renovators like James. Rising interest rates and the threat of a global recession could cause house-flipping profits to shrink. But, that doesn’t mean James and his team aren’t still flipping.
When the market starts to get scary, inexperienced flippers exit, chasing much more stable returns. This means that experienced investors get to gobble up all the deals that spooked flippers have left behind. But, if you’re not careful, that real estate “deal” could turn around and bite you, as not every potential flip will lead to profits. If you want to ensure that you not only make money but avoid losing it too, you MUST follow these five tips James has outlined.
If you’re a flipper, BRRRRer, or wholesaler, how are you adjusting to rising rates and falling home prices? What have you done to ensure your property still turns a profit, even if the housing market starts to fall? Let us know in the comments below!
00:00 Low-Risk House Flipping is Over
02:36 1. Narrow Your Buy Box
04:02 Know the Risks
06:04 2. Have Multiple Exit Strategies
09:02 3. Be Conservative in Your Analysis
11:42 4. Look for Better Buys
12:44 5. Add Higher Debt Costs
14:18 Get Ready for Flipping in 2023!
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Check Out James on the “On The Market” YouTube Channel:
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Use the BiggerPockets House Flipping Investing Calculator for Your Next
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Fix and Flip Tips—5 Ways to Ensure You Turn a
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2023 Housing Market Predictions—How Low Will Home Prices
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Learn More from James:
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Subscribe to ProjectRE with James James on or @jdainflips
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Recommended Reading >> bit.ly/32kRpzw
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