The Importance of Doing Your Due Diligence

Importance of Doing Your Due Diligence

Host Michael Owen discusses the importance of doing your due diligence when it comes to flipping houses.

  • Verify the ARV (after repair value)
  • Verify the needed repairs
  • Verify the estimated cost of the repairs
  • wholesalers tend to overestimate ARV and underestimate repairs
  • watch out for contractor liens and tax liens
  • watch out for wholesaler contract fees

While this is not an exhaustive list, missing any one of these details can reduce your potential proft.  Or worse yet, it could put you in a loss position on your flip.

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