Flipping a house can look easy on TV—buy low, fix it up, sell high, and pocket the profit. But real-life house flips aren’t edited into 30-minute highlight reels. A lot can go wrong, especially if you’re new to the game. Here are seven common mistakes people make when they flip a house—and what to do instead.
Common Mistakes People Make When They Flip a House
1. Underestimating Repair Costs
Most first-time flippers guess what the repairs will cost based on a quick walk-through or a few YouTube videos. That’s how budgets get wrecked before the first nail is even pulled. The reality? Hidden issues like old wiring, foundation cracks, or outdated plumbing don’t show up until the demo starts. If you’re not bringing a contractor or inspector with you before the purchase, you’re flying blind. You need to know the condition of the bones before committing.
2. Overpaying for the Property
You make your money when you buy—not when you sell. If you overpay upfront, it cuts deep into your profit no matter how good your renovation looks. Investors who win at this game know their numbers cold. They study recent comps, calculate after-repair value (ARV), and back into the maximum price they can pay. If the deal doesn’t fit the numbers, they walk away. The property isn’t the prize. The profit is.
3. Taking on a Flip That’s Too Big
The temptation to buy a larger or more complex project is real. Bigger houses, bigger kitchens, more bathrooms—they all promise bigger paydays. But the risk scales up just as fast. Structural issues, permits, and longer timelines can drag you down if you’re not prepared. It’s smarter to start with a basic cosmetic flip—something with decent structure that just needs updates. Learn the process before you level up.
4. Using Cheap Materials in the Wrong Places
Cutting corners to save money almost always backfires. That doesn’t mean you need top-shelf finishes everywhere, but you do need to know where it counts. Floors, kitchens, and bathrooms sell houses. That’s where buyers look, and that’s where quality matters. Slapping in the cheapest cabinets or bargain tile can turn buyers off, even if the rest of the house looks good. It’s not about spending more—it’s about spending smart.
5. Doing Work You’re Not Qualified to Do
Trying to DIY major repairs might look like a money-saver, but it often ends up being a liability. Electrical, plumbing, roofing, and structural work need to be done right—and done to code. If you cut corners or make mistakes, it can tank your inspection, delay closing, or worse, cause real damage down the line. Hire licensed pros for the work that matters. Focus your energy on the parts you can handle—project management, design, or cosmetic updates.
6. Ignoring the Local Market
Every market is different, and flipping success depends on understanding yours. What sells in one neighborhood won’t move in another. If you renovate a house with materials or layouts that don’t fit local expectations, you’ll struggle to find a buyer. Before you even make an offer, study the area. Look at recent listings, closed sales, and what buyers expect in that price range. Matching your flip to the market is non-negotiable.
7. Failing to Plan the Exit Strategy
Too many people go in with the idea that they’ll “figure it out” as they go. That’s not a strategy—it’s a gamble. Before you close, you should already have your timeline, budget, team, and selling plan in place. How long will the renovation take? What’s your backup plan if it runs over? What will you do if the market shifts? Flipping is a business. It needs a blueprint.
FAQs
How much money do I need to flip a house?
It depends on your market and the property, but you’ll typically need enough for the down payment, closing costs, renovation budget, holding costs (like utilities and insurance), and a cushion for surprises. Many flippers start with at least $100,000 in available funds.
Can I flip a house with no experience?
You can, but you’ll need a strong team around you—contractors, real estate agents, and possibly a mentor. Take the time to study the process, learn the numbers, and start small. Experience will come, but preparation matters more.
How long does it usually take to flip a house?
Most flips take three to six months from purchase to sale, but timelines vary based on the scope of work, permitting, and the market. Delays happen—budget your time like you budget your money.
What if I can’t sell the house?
That’s where having an exit plan matters. If the house doesn’t sell quickly, can you rent it out? Can you refinance and hold it as a long-term investment? Always have a Plan B before you get to closing.
Should I get a home inspection before buying a flip property?
Yes—unless you’re a contractor or inspector yourself, always get a professional home inspection. It’s a small cost that can save you from massive repair bills later. Knowing what you’re getting into is non-negotiable.
Want help spotting problems before they cost you money? Hire a home inspector who knows how to look past the paint and catch the things that kill deals.
Checkpoint Home Inspections provides home inspections to customers around the North Coast of Oregon. Contact us to request our services.