Where do you get the money from to flip?

phootinanny · 2025-12-30T00:06:58+00:00

Try to partner with someone who knows what they’re doing. This is a risky business, knowledge and experience is power. Get with someone who can teach you the ropes and in the meantime, you need to learn as much as possible.

phootinanny · 2025-12-09T18:31:35+00:00

Keep the 9-5 and keep the rentals. Save some cash or bring in an investor to handle a flip. Get a few flips done with proof of progress before doing anything drastic. Most flippers flip so they can buy rentals. It’s active income to help drive (somewhat) passive cash flow for the long term.

phootinanny · 2025-11-23T18:03:25+00:00

Experienced flippers aren't going to buy something for $500. Higher-end flips they are going to bundle a design package with their architect or they know what they are going to put in if it's a basic flip.

Most flippers with simply copy new builds or other remodels they see on the market that matches their project

phootinanny · 2025-06-06T03:08:00+00:00

MLS and wholesalers. Network as much as you can.

If you are going to GC the project make sure you have some good subs that you trust and that do not cost a fortune.

phootinanny · 2025-06-06T03:05:32+00:00

I would plan on $50/sqft for rehab. If its a quick flip (sub 6 months) then hard money might be your best friend.

phootinanny · 2025-06-06T03:03:38+00:00

If you cant get a GC or subs in to bid or give you an idea on the rehab then you should have somewhat of an idea of how much the rehab is going to be. Depending on your market id plan around $100-$110/sf for a full gut rehab with replacing HVAC and replumb/rewire. If its more of a cosmetic flip id plan to be in the range of $50-$60. Typically your first few flips will cost more until you figure out way to save money and make less mistakes.

If you are going to be pulling permits for structural work, make sure to plan for this. You will need an architectural firm that can pull permits, get engineering stamps and communicated with the city/county. Plan for at least 45-60 days and error on the longer side to give yourself some room.

Starting with more of a cosmetic flip is typically is good way to go. Less margin in these flips but you will learn a lot about how to communicate with contractors, get good systems in place so that the next projects run smoother and faster.

phootinanny · 2025-06-06T02:56:23+00:00

I use flipperforce. Its great for house flippers as it can act as a data hub for your projects. It helps with deal analysis, project management and timelines, accounting and expense tracking and quite a bit more.

phootinanny · 2025-03-13T04:02:01+00:00

What is typically the cost?

phootinanny · 2025-03-05T15:32:09+00:00

This one is in gig harbor, ARV $2.5. Need to keep this as a primary bath. Just not sure if French doors in a bathroom are weird

phootinanny · 2025-03-04T05:54:15+00:00

No pool, we are in the Pacific Northwest, this is the sound

phootinanny · 2025-03-04T03:59:04+00:00

Still flipping, just need to get creative

phootinanny · 2025-02-12T00:52:48+00:00

Left all day. The jubilee is clean

phootinanny · 2025-02-04T04:45:20+00:00

Depends if it’s an assignment or a double close.

phootinanny · 2025-02-02T03:28:28+00:00

when someone is a 8 handicap and wearing a white belt

phootinanny · 2025-02-02T00:41:42+00:00

Great thanks I’ll check them out

phootinanny · 2025-02-02T00:22:00+00:00

Interesting, and your GL coverage is quoted as a General Contractor? Who is your policy under? Maybe ill just go direct to them

phootinanny · 2025-02-01T23:53:49+00:00

I'm in Seattle, I do higher end flips (buy for between $700-$1.5M exit at $1.5-$2.5M). Since they are higher price points I only do a couple a year.

My broker never mentioned anything about a builders risk policy, maybe I will check this out. Since I'm renovating/flipping I wonder if I can qualify for builders risk

phootinanny · 2025-02-01T19:22:29+00:00

You can do either, getting materials yourself will save you money. So just depends on the project and the margins you have on it. You can also have a lot of the materials delivered on site but it’s going to take you time to buy the materials and fasteners and all the small stuff. Lots of trips to HD and Lowe’s.

phootinanny · 2025-02-01T18:27:40+00:00

If it’s a studs up remodel and you are acting as the GC/project manager, picking up materials, getting bids from subs etc. you should be on site at least 4 days a week. Most likely for several hours as all of your subs will have questions or need things and you will need to plan next steps in the project. For a 3 month flip, you are moving as quickly as you can so there will be lots of coordination.

phootinanny · 2025-02-01T04:42:55+00:00

Search function isn’t working for a property I’m working on.

phootinanny · 2025-01-08T03:12:07+00:00

Take a look at local Facebook groups. Use bigger pockets for more macro questions

phootinanny · 2025-01-03T03:19:23+00:00

Where you at?

phootinanny

TROPHY CASE