One of the most important aspects of a profitable real estate investment is the initial property walkthrough. For experienced flippers, these are a dime a dozen. However, for a new house flipper, they can be nervewracking and overwhelming. Bruce Martin, in-house real estate agent and flip project manager, shares the 5 must-have tools to take to every property evaluation. 

The 5 Essential Tools for Your Fix and Flip Evaluation Kit

1. “Broker Listing” (a.k.a Multiple Listing Service) with brokers’ remarks – Ask your real estate agent to bring the printout, which features closing details from brokers. Broker remarks are helpful for walkthroughs because they may state rent back dates — a great negotiation tool for buying a property. Rent back dates create flexibility, specifically around the buyer’s possession day. This gives you leverage with the seller who may want or need to take their time moving out.

2. Maglite Flashlight (small durable flashlight with powerful beam) – Some houses may not have electricity and you will need light to check out crawl spaces, tight spaces or a dark room. Home Depot has a great range of Maglite flashlights for a decent price. Don’t risk using your phone’s flashlight and dropping it in these small dark places or a puddle of water.

3. Laser Measuring Tool – This small electronic gadget is perfect for measuring lengths and heights of a room. Measurements are often inaccurate on the listing sheet. It is helpful to quickly measure flooring. With a click of a button, you can get a clear layout of the property and accurate measurements to build your rehab estimate.

4. A spreadsheet to calculate your numbers or Fixters Evaluate – You may not have a lot of time in the house so you need to be on your game for noting the property and possible renovations. You can get the same calculation or better with Zillow data when walking through a house.

5. Shoes…really good shoes With real-estate properties, you might be stepping through unshoveled driveways, hoarder homes, construction materials (such as nails) or worse if there is  A LOT of pets within the house. Be prepared to step through anything.

Emily Wallace

I’m Emily, Events and Marketing Coordinator at Fixters. I am passionate about cultivating engaging experiences for all types of house flippers through innovative event management and the creation of meaningful, educational content. With a background in Interior Design, I love helping first-time flippers make decisions regarding floor plan, material and finish choices based on market trends and best practices. In my free time, I enjoy Ashtanga yoga, reading lots of books and playing outside with my furry German Shepherd, Brad.

Fixing and Flipping Towards Retirement: Gateway to Building a Rental Portfolio

Once you get your fix and flip business off the ground, you can use the skills you’ve learned and the profits you’ve made to create current income…

Read More

Fixing and Flipping Towards Retirement: Create Supplemental Income

Retirement funding is a fast growing financial epidemic in the United States today. According to a survey

Read More

Fixters Real Results – Yellowstone Way

Yellowstone was a three bedroom, three and a half bath home with 1,935 square feet and a two car attached garage on a quarter acre lot. As we drove…

Read More