Top 10 Tips for New House Flippers

Here's the Top 10 Tips for Newbies Trying to Get Started Flipping Houses.
Top 10 Tips for New House Flippers

Top 10 Tips for New House Flippers

Here's the Top 10 Pieces of Advice for Newbies Trying to Get Started Flipping Houses.

#1: You make money when you buy, you collect when you sell

Perform the proper due diligence upfront to determine the maximum purchase price you should offer before you buy the property.  Be conservative with your analysis and build-in ample profit and contingency for your repairs.  Don't overpay for a flip, you are setting yourself up for a total flop!

Learn How to Analyze a House Flip Deal

#2: Don't do 'eraser math'

When you put 'pencil to paper' and analyze the numbers of the deal, don't erase the numbers just to make the deal work.  Don't worry about what the seller is asking for the property.  Analyze your numbers and come with your own offer price.

Learn about House Flipping Formulas

#3: It's better to have a bad house in a great neighborhood than a great house in a bad area.  

You can change the house, but you can't change the neighborhood or the location.  Buying houses in desirable areas that have low crime rates and good schools will be much easier to sell quickly and for top-dollar.

Learn about Researching Your Market

#4: Don't do something too big

Don't buy an extensive gut rehab or tear-down for your first project.  Repair costs are difficult to estimate and contractors can be hard to manage.  Start with a small cosmetic rehab to get your feet wet and move your way up to more complicated rehab projects as you gain more experience.

#5: Get your finances in order

Real estate is an expensive game and you will need to have money or access to money to purchase properties and pay for repairs.  Before you buy your first flip project you need to have your finances in order and/or lenders lined-up to fund your projects.

Learn about Loans for Flipping Houses

#6: Don't over-improve the property

It's easy to get carried away with improving your property, but certain improvements can be a waste of money.  Do your research on comparable properties in the area to spy on your competition and determine which improvements will boost your bottom line.  You ultimately want to provide a product that equals or slightly exceeds your competition.  ​

#7: Don't plan on doing everything yourself to save money

Unless you are a full-time Contractor by trade it's generally a bad idea to assume that you are going to do most or all of the work yourself.  

#8: Do things right

Take pride in your craftsmanship and homes that you renovate.  Make sure that you pull permits, don't cut corners and do things right.  Your reputation is on the line!

When you Should Get a Permit

#9: Doing one house flip will teach you more than all of the courses and books combined!

You can go to all of the seminars, take all of the courses and read all of the books in the world, but you will learn the absolute most by buying and rehabbing your first flip!

#10: Just Get Started!

There will never be a 'perfect' time for you to get started.  Stop making excuses, and just get started!

​Start Analyzing Deals Using Our House Flipping Software

More Updates Coming Soon!

We are dedicated to continuously improving our Flipper Force house flipping software platform and have an endless list of new tools, features & enhancements that we want to build for you in the near future.

Checkout Our Software Road Map To See What We're Building Next

We welcome your feedback and hope to provide a collaborative experience so we can build the best house flipping & rehab project management software together.

If you have any feedback, ideas or suggestions, collaborate with our community to help us decide what we should build next.

Flipper Force Software Wish List

Let us know if you have any questions or comments below:👇

Checkout these other blog posts!:

How to Flip Houses Guide
step-by-step house flipping guide

Don't Know How to Flip a House?

If you are looking for a free, no-hassle, Self-Guided resource to learn about flipping houses checkout our  step-by-step house flipping guide with over 50 articles, videos and case studies on how to flip houses.

Ready to Take Action?

Sign up for Our House Flipping Software to Start Flipping Houses Today!

Register for a 30 Day Free Trial. No Credit Card Required.