{"id":10647,"date":"2019-05-30T12:09:17","date_gmt":"2019-05-30T19:09:17","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=10647"},"modified":"2025-09-26T12:57:32","modified_gmt":"2025-09-26T19:57:32","slug":"how-to-flip-a-house","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/how-to-flip-a-house\/","title":{"rendered":"How to Flip a House: Find a Property, Rehab It, and Turn a Tidy Profit"},"content":{"rendered":"

Got bit by the house flipping bug? Consider your work cut out for you over the next 180 days at least (the average time it takes to complete a single flip<\/a>!)<\/p>\n

During that time, you\u2019ll be operating with very little room for error\u2014average flipping returns dropped to a seven-year low of $65,000 in the last quarter of 2018, according to Attom Data Solutions. And that doesn\u2019t account for the cost of repairs.<\/p>\n

\u201cHouse flipping is trendy, but dangerous,\u201d says Robert McFadden<\/a>, a Washington state-based agent who regularly works with and advises several house flippers.<\/p>\n

\u201cI’ve had to bail clients out of bad situations because they got into flipping thinking they could make quick, easy money, but the work was more than they expected.\u201d<\/p><\/blockquote>\n

Rather than jump into the business casually, fueled by nothing but the passion of your last HGTV binge, follow this guide for how to flip a house for the first time so you come out on the other side with more money than you started. The alternative? Ending up like McFadden\u2019s clients:<\/p>\n

Stuck with a halfway-done house you\u2019re about to lose to the bank.<\/p>\n

\"Tools<\/a>
Source: (Jeshoots.com\/Unsplash)<\/figcaption><\/figure>\n

Step 1: Hone your own home improvement skills<\/h2>\n

The pros on those TV shows make remodeling look easy, don\u2019t they? In one scene they\u2019re stripping a room bare, then one commercial break later and they\u2019ve got the walls painted and the new flooring in.<\/p>\n

But exactly how did they get those clean paint lines around the windows? And how long did it take for the flooring install after they found mold growth underneath?<\/p>\n

This is the kind of unglamorous, behind-the-scenes knowledge that a successful house flipper needs to know\u2014and that\u2019s just for starters.<\/p>\n

If you\u2019ve never painted a wall or installed a faucet before, it\u2019ll take you twice as long and look 10 times worse than the results achieved by those TV show pros.<\/p>\n

\u201cThere are a lot of unknowns when you’re doing a house flip, so you need to have a very good understanding of the mechanics of a home, such as the plumbing, structural, electrical, and roofing,\u201d says McFadden.<\/p>\n

\u201cThe more work that you can do yourself, the more money you\u2019ll make. However, if you\u2019re not well-versed in any of those things, you\u2019re going to have to hire professionals to do them\u2014which will cost you.\u201d<\/p>\n

So, how exactly can you hone your skills? Sure, you can read DIY blogs and watch online tutorials, but the only way to really know what you\u2019re capable of is to actually dig in and do it.<\/p>\n

The easiest place to start is by DIYing repairs and improvements to your own house\u2014though you do risk damaging your own home’s resale value if you fail spectacularly<\/a>.<\/p>\n

If you\u2019re at the \u201cmy tools are still trapped in their packaging\u201d skill level, you\u2019re better off getting a little expert training first.<\/p>\n

Many home improvement and hardware stores have classes that provide hands-on training led by experts, like the free workshops offered by Home Depot<\/a>. You can even hone your construction skills while volunteering to help your community, too.<\/p>\n

The well-respected home building charity Habitat for Humanity<\/a> will have a hammer in your hand in no time. And there are dozens of government organizations<\/a> that offer skill-honing community service opportunities, too.<\/p>\n

You might discover how to deal with storm and water damage by assisting with disaster relief<\/a>, or learn landscaping techniques as a volunteer caretaker at your local city park<\/a>.<\/p>\n

Don\u2019t feel like you need to learn it all, though. If there are repair projects you\u2019re simply not skilled at (or aren\u2019t interested in learning), then it may make sense to hire a professional\u2014if you can find a good pro.<\/p>\n

\"An<\/a>
Source: (Pxhere)<\/figcaption><\/figure>\n

Step 2: Develop a network of experts<\/h2>\n

If you know that you can\u2019t complete a home repair project with pro-level quality, then it\u2019s actually more cost effective to hire an expert to get the job done.<\/p>\n

\u201cHome repair projects have to be done correctly, because your buyer is going to bring in an inspector to review your work,\u201d advises McFadden. \u201cAnd it’s just going to cost you more money to fix any work that\u2019s not done right.\u201d<\/p>\n

The trouble is, finding great home improvement pros is harder than it sounds. If you just hire the first pro you find, you might learn too late that they overcharge, miss deadlines, or worse yet\u2014take your money and run.<\/p>\n

Start with these mini steps:<\/span><\/p>\n

Ask for recommendations.
\n<\/b>Put your relationships to work and ask family, friends, neighbors even random acquaintances who\u2019ve recently had work done on their homes. The people you meet while honing your own skills will likely know quality pros, too.<\/span><\/p>\n

Research potential contractors.<\/b>
\nOne person\u2019s fabulous contractor is another person\u2019s nightmare, so you can\u2019t just take someone\u2019s recommendation at face value\u2014no matter how close you are. Instead, research their suggested contractors online, checking reviews on sites like <\/span>Angie’s List<\/a> and <\/span>Yelp<\/a>. You should also invest some effort in interviewing your pros, too.<\/span><\/p>\n

Ask specific questions and request an onsite estimate.
\n<\/b>Generic, \u201cAre you any good?\u201d questions won\u2019t get you the answers you\u2019re looking for, you need to ask specific questions as to how they\u2019d handle the type of work you need. You should also arrange an onsite estimate so they can evaluate potential repair jobs in your own home, and you can evaluate your rapport. Then check those quotes on sites like <\/span>Thumbtack<\/a>, <\/span>Fixr<\/a>, and <\/span>Home Advisor<\/a> to see how they stack up against their projected estimates for your area.<\/span><\/p>\n

Develop a database of top contractors.
\n<\/b>As you\u2019re info-gathering on all these experts, keep in mind that you\u2019re not looking for a single go-to contractor that you can call on every time. You\u2019re building a database of contractors, plumbers, electricians, roofers, H-VAC installers, and construction workers, so that you have options whenever you need.<\/span><\/p>\n

The best pros book up months in advance. Without a large network to call on, you\u2019ll discover that the one pro you were counting on is unavailable when you need help\u2014which results in an expensive\u2014and needless\u2014delay.<\/p>\n

Step 3: Enlist the assistance of a real estate agent who\u2019s got experience working with investors<\/h2>\n

Unless you already have your own real estate license<\/a>, it\u2019s in your best interest to hire a real estate agent<\/a> who has experience flipping houses.<\/p>\n","protected":false},"excerpt":{"rendered":"

A step-by-step guide for how to flip a house with the right skills, professional assistance, and financial plan.<\/p>\n","protected":false},"author":37,"featured_media":10650,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[329,319],"tags":[],"class_list":["post-10647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-flipping","category-selling-advice"],"acf":[],"yoast_head":"\nHow to Flip a House: Find a Property, Rehab, and Turn a Tidy Profit<\/title>\n<meta name=\"description\" content=\"A step-by-step guide for how to flip a house with the right skills, professional assistance, and financial plan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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