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 👇 https://www.biggerpockets.com/signup ~~~~ Check out Last Week’s Episode on 1031-Exchanges:    • The 1031 Exchange Explained | A Faster Way...   ~~~~ Small Ranch to Luxury Home Flip Walk-Through: https://www.biggerpockets.com/blog/fi... ~~~~ Estimate Rehab Costs Quickly With This Simple 6-Step Process: https://www.biggerpockets.com/blog/ho... ~~~~ Subscribe to ProjectRE with James Dainard:    / @projectre   ~~~~ Follow James on Instagram:   / jdainflips   or @jdainflips 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