Luxury Fix and Flip Walkthrough & Budget ($850k Rehab)

A luxury fix and flip is NOT like your standard fixer upper. These homes require intensive floor planning, made-to-order fixtures, and landscaping that will put a prospective buyer in awe. These are not the types of flips where some simple painting, granite countertops, and stainless steel appliances will cut it.

James Dainard, flipping master over at Heaton Dainard Real Estate, has been eyeing this specific property for half a decade. James reached out to the seller multiple times but was only able to get his contract accepted once the buyer had been through numerous failed closings.

This property should sell for around $4,000,000, netting James a BIG profit and over a 100% cash on cash return. Don’t worry, James breaks down exactly how he calculated out the rehab on this deal, so you too can make luxury margins on some luxury flips!

~~~~
Join BiggerPockets for FREE 👇
~~~~
Check out Last Week’s Episode on 1031-Exchanges:
~~~~
Small Ranch to Luxury Home Flip Walk-Through:
~~~~
Estimate Rehab Costs Quickly With This Simple 6-Step Process:
~~~~
Subscribe to ProjectRE with James Dainard:
~~~~
Follow James on Instagram:

00:00 A $4 Million Flip!
00:53 Finding & Acquiring the Deal
03:03 Budgeting for a Standard Flip vs. Luxury Flip
03:30 1. Framing Plans
04:49 2. Cosmetic Costs
06:03 3. Floor Costs
07:12 4. Tile & Design
08:09 5. Garage Doors
08:31 Look for Extra Features
09:36 6. Landscaping
11:04 7. Roofing Costs
11:59 Picking Your Flipping Specs & Materials
13:43 Touring this 4,000+ Sqft Property!
16:50 The Details Always Matter
17:40 The Interior Walkthrough

[RobertEspinosa-jk]

Great video! where do I find the finished project? I would love to see a detailed video on end result.

[angelo-]

Some of the best content coming from this guy right here. Thank you

[Lefthandedscorpio]

Where do you find regular licensed contractors and luxury contractors?

[kabirvardhan]

I will always appreciate these videos in my journey to be a great Real estate agent. Keep em coming guys !

[MAD-DUKE]

That chandelier weighs a lot of money. :-)

[Crazyguru]

would absolutely love to see the final product/update vid

[hughspringer]

James. I wish I had found you and BP 24mos ago. Your brokerage's sow and est. approach is on point! Q1: Minisplit vs forced air hvac. Latter seems more trending in WA. Does your typical budget estimator itemize that out, always use it for luxurys, or gague if you replace existing hvac w/ mini split? Q2: Radon gas removal systems are as common in the midwest as french drains are in pnw. Are radon systems a common expense to consider on century old homes in WA? Thx in adv, or catch you on BP pro.

[ProjectRE]

Hi everyone! James here 🖐 I'm super excited to be able to walk through and share our $4 Million Flip with all of you. Let us know what you think/questions about this luxury flip in the comments!! 📣

[jodyho]

Love this video, so much information.

[sounddepth]

You have to be really experienced to get into luxury flipping. Less merging for error. I come realize knowing your $ per sqft for the type of market and flip helps out a bunch. Thank you so much for this video, it’s going to help more people than you know.

[connieh]

Excellent information, presented so well!! Thank you for this video!!!

[nicolacharlesworth]

Man, its insane that there is this amount of information available online for free. Thank you! This was crazy!

[MobileHomeGeek]

Awesome video. Please post more flipping videos!! Insane video brother🤝

[josefranciscochavez]

Please guys post more content about flipping is amazing help.

[victorbarton]

Man knows his shit. Can’t wait to see the After

[dhowto]

Thanks for the detailed video. All the best with the luxurious flip!

[brandonbenitz]

Great video and breakdown of the costs and construction! Will there be a sequel to see the 'after' photos and final sale price?

[brucejones]

Seems like a large lot. I’m sure you comp’d it out but do you ever find that it’s better to subdivide?

[michaeldanielson]

W o w. What’s the timeframe of this project?

[quaksha]

You guys don't waist time .. I was there not long ago picking up free couch, I had to drag it all the way trough 1st floor
One thing I didn't like about that house is how you got all the land in front and in a back your windows comes out at your neighbor's windows.
I thought you guys was gonna subdivide n build 5 homes there