When she did her first deal, Leka Devatha wasn’t trying to start a house flipping business. But, thanks to ample market appreciation and her hard work, Leka would walk away with a sweet profit that any newbie investor would be proud of. And like many investors, Leka has ridden the home appreciation wave as she’s flipped dozens of homes over the past eight years. But now, mortgage rates are rising, and buyer demand has shrunk, so do house flippers have any way to turn a profit?
Even in 2023’s tricky housing market, flipping homes can still be a lucrative way to invest in real estate. But you’ll need to do it right—no more under-analyzing deals, loose calculations, or hoping that rising home prices will save you. Instead, as a house flipper, you’ll need to be dialed in on your costs, timelines, and everything in between so you can still profit no matter where the market is going.
Leka will give you her top tips on starting a house flipping business from scratch in 2023. She’ll go over who you need on your team, how aggressive to be when underwriting, finding a quality general contractor, and why you MUST have your money lined up before jumping into the risky business of flipping houses!
00:00 Build Your Real Estate Business
00:49 Flipping as a Newbie
02:04 The Market WON'T Save You
03:36 Start From Scratch
05:56 Getting Started in a Tough Market
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Join BiggerPockets for FREE an Investor-Friendly Agent in Your
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Hear Leka’s Interview on the “BiggerPockets Real Estate
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How to Get Started Flipping
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The Beginner’s Guide to Flipping Houses for Profit:
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2023 Housing Market Predictions—How Low Will Home Prices
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Leka’s List of Tools Mentioned in This Video:
AppFolio:
Canva:
InvestNext:
Meetup:
Quickbooks:
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Connect with Leka:
BiggerPockets:
Instagram: @leka_devatha or
LinkedIn:
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Leka’s
Recommended Reading >> bit.ly/32kRpzw
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