Top 5 House Flipping Mistakes – I’ve Lost Thousands From Them…



After flipping hundreds of houses thus far in my career, today I’m going to share the top five mistakes people make when flipping …

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20 Comments

  1. I agree with the over renovating comment but in some markets smart upgrades can make a home way easier to sell quickly. The cost of money can be mitigated by a quicker sale

  2. Almost 20 years in this business and the ones I see that make the big mistakes are the ones not buying at 70% of arv- repairs.
    Paying more simply does not work.

  3. I made three of those mistakes on my flip. This was my first one I sold and not force appreciated to sell. On the first two days on market, I got three offers. My house hit new Arv. The fn realtor I accepted the deal from was sister to the buyer. They ripped my house apart with indirection report and then addendums, and cut my price down $30k! Was their technique to win the home but to negotiate to their price

  4. Here is a tip. Don't buy all your finish materials too early. This way if the market changes or you have too many expensive surprises you can still profit. You could potentially make a profit doing a 90% flip. Say up to dry wall. That means your framing/rot repair, electrical,HVAC, insulation all done and inspected by code enforcement. Sell to home owner not another flipper because a flipper won't touch it anyway.

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