{"id":5658,"date":"2023-11-06T05:00:02","date_gmt":"2023-11-06T13:00:02","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=5658"},"modified":"2023-11-07T09:16:41","modified_gmt":"2023-11-07T17:16:41","slug":"how-to-get-started-flipping-houses","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/how-to-get-started-flipping-houses\/","title":{"rendered":"How to Get Started Flipping Houses: 5 Tips Reality TV Won\u2019t Teach You"},"content":{"rendered":"

The home-flipping fad isn\u2019t just an obsession among reality TV addicts. The number of people flipping homes in real life is still growing. In 2022, 8.4% of all home sales<\/a> were flips, compared to just 5.8% in 2017.<\/p>\n

However, although television makes flipping look easy, exciting, and profitable, the reality isn\u2019t so glamorous. It takes a lot of money and manpower to transform an outdated house into a showplace home \u2014 especially if you plan to profit when you resell the property.<\/p>\n\n\n\n\n\n

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\n \"homelight\n <\/div>\n \n

Looking To Start Your House Flipping Journey?<\/h3>\n

House flipping is all about juggling costs and profit, and the right agent can make or break your deal. HomeLight looks at over 27 million transactions to match you with a top agent who knows how to work with investors. Connect today to get started.<\/p>\n \n

\n Find a Buyer's Agent<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

We\u2019re talking about a high-risk business with profit margins<\/a> as low as 20-30% \u2014 the lowest since 2008.<\/p>\n

Just ask Bryan Lebo<\/a>, an agent with over 10 years of experience flipping homes. Lebo ranks in the top 1% out of nearly 10,000 sellers\u2019 agents in Las Vegas:<\/p>\n

\u201cThe most important thing you need to realize is that profit is not guaranteed. Just because you\u2019re buying a house to flip doesn\u2019t mean that you\u2019re going to make money,\u201d says Lebo.<\/p>\n

Here we\u2019ll dive into advice from the pros on how to get started flipping houses that you\u2019ll never find on TV.<\/p>\n

House flipping isn\u2019t \u2018as seen on TV\u2019<\/h2>\n

As successful as home flipping shows seem, remember that their primary profit comes from advertisers, not the home sale itself. Those shows will also have two things you won\u2019t: a studio-backed budget and a paid crew doing the major construction work off-camera.<\/p>\n

When solely responsible for the capital and remodeling, a few mistakes can quickly transform your profit margins into a crushing loss.<\/p>\n

New flippers aren\u2019t the only ones facing thin profit margins. Statistics show that most flippers sold for a gross profit margin<\/a> of only 32.1% in 2022. Why? Because the median value rose more slowly than the median price, they paid to purchase these properties.<\/p>\n","protected":false},"excerpt":{"rendered":"

Here we\u2019ll dive into advice from the pros on how to get started flipping houses that you\u2019ll never find on TV.<\/p>\n","protected":false},"author":37,"featured_media":38891,"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-5658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-flipping","category-selling-advice"],"acf":[],"yoast_head":"\nHow to Get Started Flipping Houses: 5 Tips TV Won't Teach You<\/title>\n<meta name=\"description\" content=\"Here we\u2019ll dive into advice from the pros on how to get started flipping houses that you\u2019ll never find on TV.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/how-to-get-started-flipping-houses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Get Started Flipping Houses: 5 Tips Reality TV Won\u2019t Teach You\" \/>\n<meta property=\"og:description\" content=\"Here we\u2019ll dive into advice from the pros on how to get started flipping houses that you\u2019ll never find on TV.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.homelight.com\/blog\/how-to-get-started-flipping-houses\/\" \/>\n<meta property=\"og:site_name\" content=\"HomeLight Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gohomelight\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-06T13:00:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-07T17:16:41+00:00\" \/>\n<meta property=\"og:image\" 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