House flipping profits are off the charts, so why are so many house flippers leaving the market? Top flippers like James Dainard have seen their profits almost double, EVEN with today’s high interest rates. Wouldn’t now be the perfect time to take on more flips than ever? The experts say “no.” In fact, many of them have stepped away from flipping entirely, worried that the risk FAR outweighs the reward.
To give us a more rounded view of this real estate market are Jessie Rodriguez and “I hate real estate but love money” investor Tarl Yarber. Jessie and Tarl have done HUNDREDS of flips throughout the past decade, but now, they’re doing fewer flips than ever before. With high holding costs, an uncertain economic future, and a greater risk of failure, now might not be the best time to start your flipping empire.
But if you have experience, money, or time, you could make some serious returns if you are willing to take the risk. James, Jessie, and Tarl talk about what they’re looking for in today’s market, how to instantly lower your cost of labor on any flip, why so many expert flippers are leaving the business, and why you should “dollar-cost average” in real estate investing.
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In This Episode We Cover:
- The state of house flipping in 2023 and whether or not now is the time to jump in
- Interest rates, holding costs, and how much you can expect money to cost
- Why “quick flips” are FAR safer now than extensive, heavy rehab house flips
- Why Tarl quit flipping and the signs he’s waiting for BEFORE he gets back into the game
- Labor costs and how Jessie INSTANTLY cut down his rehab budget
- Dollar-cost averaging in real estate and whether or not it’s a smart move for rookies
- And So Much More!
Links from the Show
Connect with Jesse:
Connect with Tarl:
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.
