Podbit · BiggerPockets Real Estate Podcast
Most flippers only budget for closing costs on the sale. That's only half the picture. Failing to account for purchase-side closing costs is one of the most common and costly underwriting errors, quietly eroding margins that were already razor thin.
Where this was said
At 13:15 · chapter starts 9:25
With ARV strategy covered, Henry shifts the conversation to costs — starting with commissions and closing costs. Dominique's biggest move of 2025 was getting her real estate license, which she says saves her at least 2.5% per listing — adding up to hundreds of thousands of dollars per year across a 10 to 12 deal annual pace [1] — Dominique Gunderson "2.5% agent commission savings: By getting her real estate license in early 2025, Dominique saved at least 2.5% on commissions per deal, add…" 10:25 . She also notes an unexpected benefit: direct access to buyer feedback that's nearly impossible to get secondhand from an agent. Henry takes a different approach, always underwriting a worst-case 6% total commission regardless of what he actually negotiates, keeping his offer prices anchored to the pessimistic scenario. On closing costs, Henry flags the most common and costly beginner mistake: only budgeting for sale-side closing costs [2] — Henry Washington "Closing costs on buy AND sell: A common flipper mistake is only budgeting closing costs for the sale — forgetting the purchase-side closing…" 13:19 . Forgetting purchase-side closing costs can be a several-thousand-dollar blindspot on every deal. His solution for newcomers who don't have historical data is to request a preliminary HUD statement from a title company using the property address.
Dominique Gunderson got her real estate license in early 2025 and it changed her business. Saving 2.5% on every listing adds up to hundreds of thousands of dollars per year across a 10–12 flip portfolio. The bonus: direct buyer feedback that sharpens every future renovation decision.
By getting her real estate license in early 2025, Dominique saved at least 2.5% on commissions per deal, adding up to hundreds of thousands of dollars annually.
Henry Washington always underwrites assuming 6% in realtor commissions as a worst-case scenario, even if he rarely pays the full amount.
A common flipper mistake is only budgeting closing costs for the sale — forgetting the purchase-side closing costs that also eat into profit.
SiteGPT attracted over 1 million visitors and $500K in total revenue without spending a cent on paid marketing. The secret: engineering as marketing — building free tools that rank on Google.
Bhanu quit his first job after just 8 months, moved back to his parents' house to cut costs, and started building. One product sold for $250K; the next hit $10K MRR in its first month.
90% of SiteGPT's Google search traffic comes not from the main product but from ~50 free tools Bhanu built. Each tool targets a low-competition keyword and funnels users back to the paid product.
50,000 monthly visitors become 200 leads, 60 trials, and roughly 15–24 new customers per month at ~$100 average revenue each. Add a $1,700–$1,800 LTV and you have a very healthy SaaS.
Start with a blank Ahrefs search, layer in keyword filters (include term, KD < 10, volume > 1,000), list candidates in Notion, design a CTA linking to your main product, then score by volume, difficulty, build effort, and product relevance. That's the whole playbook.
Marketing feels painful for most builders. Engineering as marketing flips the script: instead of writing cold emails or blog posts, you build things — and those things rank on Google forever.
Don't spend months perfecting before launch. Ship the core feature, get real users, and let their feedback dictate the product roadmap. Premature polish is a trap.
SiteGPT launched and hit $10,000 MRR within its first month. That momentum was so overwhelming that Bhanu sold his existing SaaS, Feather, for $250,000 to free up all his time.
PropGPT launched with 20 downloads a day and strong influencer marketing but hit a ceiling at $1,000–$2,000 MRR. High download numbers masked a critical flaw: almost nobody stuck around after the free trial ended.
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