r/HouseFlipping

My friend has an interior design firm and does a lot of higher end work often on multi-million dollar houses. They would like to get into flipping as another income stream with the added bonus that it could be great for marketing and social media plus a good addition to their portfolio since they could design the spaces. Anyone have any experience with higher end flips? Like maybe ideally buying in the 500-800 range and hoping to put a more substantial investment and sell well over 1 M. Obviously would be riskier and require a lot more financing, but aside from that I'm curious if anyone has experience or thoughts.

I have been fascinated by house flipping for many years.

I would like to start flipping but I cannot seem to understand the math.

I know that costs can vary *widely* by location, market, etc but I tried to choose "average" numbers just for the sake of this discussion:

Cost of a 2300 sq ft home: $300k.

Moderate rehab ($60/sq ft): $140k

Max purchase price: $70k

If we ignore the difficulty of finding a 2300sq ft home that requires only moderate rehab for $70k, I cannot understand how that same home would not be priced too high for it's surrounding comparables once it has been rehabbed and priced at $300k.

Total newbie so any advice would be greatly appreciated.

Thanks!

I flipp houses (7 in 4 years) I till now have worked with my own cash and make $60 to $140,000 a flip. (Buy for $200k and sell for $300-350 range)I wanted to start using hard money loans but don’t know how much each flip will cost in hard money fees? Fort Myers FL. (300k in the bank 735 credit score no taxes) My biggest worry is that when you fill out apps online( that I have not fully done yet) they asked the address and the price of the property. Do some of these companies just turn everybody down and steal their information and buy the house, (houses) or sell the leads?

TLDR: Curious if everybody is still grinding through Excel or using personal tools they're building

I’ve been digging into more flip deals recently and I keep running into the same issue of having to manually grind through Excel spreadsheets

I talked to a few investors and everyone seems to have their own spreadsheet with slightly different assumptions, but no one feels super confident in them.

What’s been tripping me up:

• Rent growth / exit assumptions seem overly optimistic in a lot of deals
• Rehab estimates swing wildly (especially on older homes)

Out of frustration I actually built a quick tool for myself that:

• standardizes assumptions (vacancy, rehab ranges, etc.)
• lets me plug in a deal and run multiple scenarios (cosmetic vs full gut)
• gives me a quick “would I actually buy this?” answer

How are you all underwriting flips today?

• Still Excel?
• Rules of thumb?
• Something more systematic?

And what’s the piece you trust the least when you run a deal?

If people are interested I can share an example of how I’m breaking deals down now, would love to sanity check it against how others are doing it.

House flippers, urgent advice needed! I'm mid-renovation on a 1920s bungalow, and my GC's contractor license verification hit a snag with the county. Permits are stalled, crew's idle, and I'm bleeding cash daily. Hired him based on referrals, but now doubting everything.

How do you vet contractors upfront? State databases? References only? I've used manual checks before, but this is ridiculous. Also, for trade work like plumbing, do you verify subs too? Share your checklists or tools, anything to avoid this nightmare on future flips. Budget's tight, timeline's shot, halp!

Have you guys priced handymen in your area? I have a few broken things in the house and yard and don’t want to pay too much but have you priced handymen to come to your home and fix stuff? I have a couple holes in the drywall, a leaky faucet and stairs that could use paint.

How much should I budget for a Handyman? I’m in the Chicago Suburbs.

I have been interested in real estate investing for a long time and I really want to jump in and put my knowledge and skills to use. My wife and I recently purchased a house of our own and do not have cash to purchase a property to flip so I am seeing if anyone would be interested in partnering on a deal so I can gain some experience.

I am willing to do as much of the work as possible. From sourcing the deal, project management, design, labor and exit.

I have a close friend who is a GC and had done a lot of home remodels and additions over the years. I would love to include him as our contractor.

I also have the flexibility to be onsite and hands on as much as possible.

If anyone is willing to help me or me and my GC partner get into house flipping I would love to talk and see what we can do!

I am a contractor and this will be my first property I work on. I’m looking to dip my toes in the developers pool.

I’m looking for a property I could buy and fix up/build to make some profit only in Staten Island.

Anything beaten down, empty lot, a house that looks like it doesn’t fit on the block.

I need PE-stamped blueprint for a building permit to replace two load-bearing beams in a residential property in Lake County, IL.

Anyone have recommendations for a structural engineer or an architect? Ideally someone reasonably priced who does smaller residential jobs.

Thanks!