House flipping is among the most lucrative investment strategies in real estate. If done right, it offers an average profit of $62,000 and has a quick turnaround time as well. And since it involves working with professionals from different industries, flipping also enables REI professionals to expand their network and gain more knowledge of the local market.
But while it has its perks, it’s not all rosy. You need to find the right property, build relationships with lenders and contractors, estimate rehab costs, and find permits, all while scouting for the right buyer.
Luckily, we are in an era of digital solutions like FlipperForce. It is designed to streamline and automate these tasks so you can focus on two of the most important ones; finding leads and closing house flipping deals.
Check out this quick video intro that talks about the basics of FlipperForce!
Learn more about its CRM features, pricing, and all there's to it in this FlipperForce review!
FlipperForce is an all-in-one web-based solution designed to help house flippers and rehabbers, wholesalers, landlords, and other real estate investment professionals quickly analyze potential repair costs and investment property profitability.
It also has features geared towards rehab project management, allowing real estate investors the time to find more flipping properties and new buyers. Read on for a detailed overview of what it has to offer.
FlipperForce has one of the most comprehensive features sets integrations we've ever come across. And even better, the man behind the platform, Dave Robertson, continuously works with his team to roll out new features every once in a while to improve this great software.
Here is what this house flipping software has to offer:
To profit from house flipping and other similar investing strategies, an investor must learn to find quality properties and how to identify profitable house flip deals to profit from them.
Generally, analyzing real estate deals is a taxing endeavor, but the FlipperForce set of deal analysis tools certainly makes it seamless. These include:
Overspending on a house-flipping property usually means a small profit margin. FlipperForce’s house flipping calculator prevents this scenario by allowing users to calculate the maximum purchase price they should offer to get a good profit from a potential property.
This is commonly referred to as an investor's maximum allowable offer (MAO).
It uses values like after repair value, how much the seller wants, rehab and fixed costs, financing costs, and desired profits to work out the maximum purchase price to help real estate investors get a good return on investment (ROI) from every rehab deal they close.
Buy, rehab, rent, and refinance, commonly known as the BRRRR method, is hybrid house flipping. You buy a distressed property at a discount, and instead of selling it, rehab and rent it out and eventually refinance it. This form of house flipping is even more lucrative because you generally get a property at a discounted rate meaning a higher profit margin. It also earns passive income and simultaneously generates equity, enabling the investor to either refinance the property or invest in another.
But like traditional house flipping, BRRRR deals also have risks, so one needs to carefully evaluate potential profitability beforehand. FlipperForce’s BRRRR Calculator is designed to help house flippers determine whether a BRRRR deal is worth a shot or not. As with the house flipping calculator, users can determine the right maximum purchase price they should offer and the profitability potential based on criteria like after repair value, purchase, holding, and financing costs.
Once you arrive at the maximum purchase price to offer, you can also use the BRRR calculator to estimate the rehab costs for the property. The BRRR calculator features pre-built templates with estimated rehab costs for different housing units, including single-family to multi-family homes. It also features construction cost estimates with more than 500 basic repair items and prices. These templates make estimating rehab costs for a BRRRR property a walk in the park.
With purchase and repair costs in hand, it's easier to work out the right rental rate and potential cash flow from a BRRRR property. But even better, you don't have to do it manually because the FlipperForce BRRRR calculator also lets you work out the long-term rental income and operation costs to determine the cash flow and forecast ROI and equity from long-term renting.
To flip a house for maximum profits, rehabbers must buy low and keep rehabbing costs down. FlipperForce rehab estimator has pre-built starter templates loaded with repair cost databases to enable users to work out repair costs for rehab projects quickly. These include a construction cost database with more than 500 items and a rehab template with pricing lists for basic, cosmetic, and additional repairs.
There’s even a new construction template loaded with pricing for new home building projects if you decide to knock a flipping property down and start all over again. All templates are customizable.
That means users can create new categories or repair items typical to their projects or adjust unit prices and use the template as the standard for future projects.
As an all-in-one house flipping software, FlipperForce also includes some pretty impressive customer relationship management (CRM) features that enhance its ease of use. These include the following:
Project scheduling in house flipping, wholesaling, and other similar investments ensure repairs and upgrades are completed on time and within the allocated resources. FlipperForce offers three project scheduling templates; gut rehab, cosmetic rehab, and new construction. Users can then effortlessly generate detailed project schedules complete with tasks, milestones, and dependencies to ensure timely project completion.
They're also customizable, meaning users can add due dates, assign tasks, and edit project descriptions to fit their specific projects. Users can also collaborate on tasks, make comments, and work with their contractors directly from the FlipperForce project management software. And to keep users on top of their to-do lists and to enhance its ease of use, it has an automated task email notification system.
FlipperForce’s project management scheduler also has a feature known as Critical path. It identifies and notifies users of tasks that may directly impact the completion date if not completed.
And since rehab projects don’t always go as planned, there’s an auto-scheduling feature to automatically update schedules whenever users alter any aspect of the original project plan.
The best part? Once you complete the project schedule, you can save it as a template for future projects.
With FlipperForce investment report builder, users can create professional marketing reports from scratch. These reports include a professional cover page customizable with a property cover image and personal or company contact information.
Users can also include all vital info buyers may need from a listing, such as total bedrooms and baths, total square footage, lot size to construction methods. Besides marketing reports, users can also maximize the report builder to create professional financial and profitability reports for other investors and rehab estimate data.
As with most CRMs, FlipperForce also comes with a project calendar. It makes staying on top of to-do lists easier since users can organize projects by month, week, or day and even attach images, files, and documents to tasks on specific days.
It's easy to use, too, as users only need to drag and drop project tasks to any day they want on the calendar.
Other project management tools available on FlipperForce include:
Project accounting is as crucial as finding a good deal. That said, FlipperForce features tools designed to make project budgeting and expense tracking a breeze. Once they analyze profitability using the deal analysis tools listed earlier, users can then use the expense tracker to create a baseline project and track expenses by category, vendor, account, or custom criteria.
The project budgeter also has a segment to forecast profitability and create professional expense reports and final profit statements. With all your accounting info in one place, it's easier to eliminate unnecessary expenses and track wastage.
The best part? Users can export all accounting data to a CSV file making it easy to import to their spreadsheets or QuickBooks or create professional marketing reports.
Additional FlipperForce Features
As noted, Dave Robertson and his Missouri team are constantly working on new features and software updates. As a result, FlipperForce boasts a long string of features in addition to those listed above. These include:
Here is how FlipperForce does against the competition:
REIkit is a house flipping and wholesaling software for real estate investors and their teams. The platform has an impressive features suite that includes CRM, a website-builder, deal analysis, premium comps, ARV, stackable motivated seller leads, and a Nationwide Rehab cost estimator. Compared to FlipperForce, REIkit offers a better stack of lead-generating features.
However, FlipperForce offers better control over house flipping projects since it’s essential a CRM with all the features rehabbers need to manage the entire process from analyzing the deal to completing it on time.
Flipping Prosperity is a website geared towards rehabbers and other real estate investors. It's packed with helpful articles on real estate investing, house flipping, home remodeling and related costs, and various tools used in rehabbing projects.
FlipperForce, on the other hand, is a comprehensive project management software with all tools one needs for a successful and profitable house flip.
Rehab Valuator is a deal analysis tool for real estate investors. It can analyze all forms of real estate deals from rehab, BRRRR, wholesale to traditional house flipping deals. Like FlipperForce, it also has a project management tool for users to track budgets and create professional marketing reports.
Although it has a pretty nifty feature stack, FlipperForce still does better thanks to its numerous project management tools and unique features such as critical path, auto-scheduler, and the new task widget.
FlipperForce.com offers three monthly or annual pricing plans, Solo, Team, and Business, each with a 30-day free trial. The Solo plan costs $79 a month or $59 annually and has only one user account. It accommodates up to 50 active projects making it ideal for the novice house flipper or rehabber with a few properties to handle.
It also includes FlipperForce ’s deal analysis, repair estimation, project management, and project accounting tools. For only $199 a month or $149 if billed annually, Team subscription plan users are allowed five user accounts and up to 100 active projects. They also get all features in the Pro Plan plus project teams and access control tools.
Business users pay $499 a month or $349 if billed annually and get all features included in the team pricing plan, plus unlimited users and projects. Besides a free trial, all plans include software tutorials, support, continuous updates, and a money-back guarantee.
No, FlipperForce is currently only a web-based house flipping software.
Cancelling FlipperForce is pretty straightforward as there are no contracts. Users can contact support directly via email, live chat, or phone calls to cancel their subscription.
The CRM software boasts one of the most interesting feature suites we've come across in a while. The FlipperForce software has a house flipping and BRRR deals calculator to help users identify good deals and offer the right price for them and a rehab estimator to calculate and reduce project costs.
FlipperForce software has a project scheduler with fantastic features such as auto-scheduling to ensure all flipping tasks are completed on time.
The investment report builder means users no longer need to generate marketing reports from scratch, while a feature like a photo log lets you create a project-tracking photo gallery. Thanks to the expense tracker and forecast, project accounting is also a breeze.
The best part? FlipperForce boasts an incredibly intuitive user interface which further enhances its functionality. All other parts of the website are also easily accessible by clicking the buttons at the top of the homepage.
To access features, all you need to do is hover the mouse over the features button at the top of the page and click the links to subcategories such as new features and all features to the software road map that will appear. So, yes, FlipperForce is a platform worth the money.
That said, you must understand this software isn't a magic pill that will help build your wealth overnight. Prepare to put in the work and have a consistent flow of motivated seller leads to feed into the software.
Check out our brand-new free training on how to obtain an endless stream of investment property leads without spending a dollar on marketing. We'll cover the best source of deals that can supplement any CRM or project management software, like FlipperForce. See you there!
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