Lex Levinrad Real Estate Investor, Speaker, Author & Mentor

On this podcast episode I talk about creating wealth in real estate, by building wealth one house at a time. The example that I use on this podcast came from our Fixing and Flipping Coaching event this past weekend. I was reviewing potential fix and flip deals with my coaching students and we were evaluating deals together to find houses that would make good fix and flips. The specific house that I discussed with them is a $180,000 house that can be purchased for $115,000. The asking price on the house is $120,000. It is a nice house in a decent neighborhood that was a foreclosure and is being sold by Fannie Mae. The house needs flooring, kitchen, bathrooms, and interior and exterior paint. I am guessing that to fix and flip the house the repairs could be around $25,000. We use our fixing and flipping calculator which you can use by visiting this page: https://www.lexlevinrad.com/rehab-property-calculator/ For a fix and flip, the spread is a little tight and the house will only generate a profit of around $10