Flip-it One More Time!

Do you want to flip a house? Sure, I would too. Here’s a simple profit chart to help you calculate your potential flip. Basically this chart will give you an idea if the house you had your eye on, is even worth a flip. Keep in mind that you have to do your due diligence and do allot of homework on the subject property that you want to flip.

Example: Buy at $250,000 and sell at $400,000.

Profit Calculation
	Total
Purchase Price of subject house.	$250,000
Estimated Repair costs	$20,000
Closing Costs	$3,000
Commissions and Sales Closing Costs	$21,000
10% Miscellaneous costs	$10,000
Month to Month Cost	$12,000
Final Flipped Price	$400,000
Estimated Profit	$84,000

Note: Make sure you calculate your capital gains tax too. Also see a tax professional about tax brakes. You might be able to save money.