House Flipping Checklist
How to Flip Houses / House Flipping Checklist
House Flipping Checklist Outline
- Submitting an Offer Checklist
- Upon Offer Acceptance Checklist
- Property Inspection Checklist
- Contractor Bidding Checklist
- Rehab Preparation Checklist
- Purchase Closing Checklist
- Rehab Project Start-Up Checklist
- Rehab Project Management Checklist
- Rehab Project Closeout Checklist
- Property Listing Checklist
- Offer Acceptance (sale) Checklist
- Sales Closing Checklist
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Submitting an Offer Checklist
The following is a checklist of items you need to perform for making an offer on a rehab property:
Upon Offer Acceptance Checklist
Once a seller accepts your offer you will need to send the Original Copy of the Earnest Money Deposit, schedule inspections & notify your lender.
Property Inspection Checklist
During the Inspection Period (generally within 10 to 14 Days of Offer Acceptance), you will need to walk the property with an Inspector or Contractor, create a detailed Scope of Work & Budget and make a final decision to purchase the property (or not).
Contractor Bidding Checklist
Once you officially decide to close on a property you need to start having Contractors walk-through the property and provide bids, so you can have your Contractors selected and lined-out on closing day. Here is a checklist for Getting Bids for your Project.
Rehab Preparation Checklist
After you receive Contractor Proposals, you need to re-evaluate your financial analysis and create a Project Budget, Project Schedule & prepare for closing so you can 'hit the ground running' once you close on the property. Here is a checklist of items you should consider to prepare for your rehab project:
Purchase Closing Checklist
Finally, the Purchase Closing Day has arrived when you get the keys and officially take possession of the property! Here is a checklist of items you should consider on Closing Day:
Project Start-Up Checklist
At this point, hopefully you spent the Closing Period getting ready for your project, and you have your Contractors selected, lined-out and scheduled to start work on Day-1. Here is a checklist of items you should have ready for the initial Project Start-Up:
Rehab Project Management Checklist
During your Rehab Project, you will want to have a General Contractor, or a Project Manager managing your Contractors, Inspecting the Work, Procuring Materials, and ensuring the project is on-track and on-budget. Here is a checklist of items that need to be managed during the Rehab Project:
Rehab Management Weekly To-Do List:
Accounting Weekly To-Do List:
Rehab Project Closeout Checklist
It's easy to get careless once your Rehab Project is substantially complete, but it's important to stay focused so you can finish strong. Here is a checklist of items you should consider when you are closing-out your project.
Property Listing Checklist
Once you have your rehab project completed, it's officially time to list your property for sale! Here is a checklist of items you should consider when listing your property:
Offer Acceptance Checklist
Whoop, whoop! You have an accepted offer on your house! Here is a checklist of items you should consider when once you get an accepted offer on your property.
Sales Closing Checklist
The big day is finally here when of all of your hard work finally pays off and you get to cash your check for a hefty profit! Here is a checklist of items you should consider on Sales Closing day:
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