The News GodThe News GodThe News God
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
      • Biography
      • Net Worth
      • Famous Birthdays
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Reading: Missteps to Avoid When Tackling Your First House Flip
Share
Font ResizerAa
The News GodThe News God
Font ResizerAa
  • Politics
  • News
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
Search
  • Politics
    • Trump
  • News
    • Wars & Conflicts
  • Business & Finance
  • Lifestyle & Health
  • Law
  • Sports
  • Tech & Autos
  • Home & Garden
  • Videos
  • More
    • Travel & Tour
    • Education
    • Entertainment
    • General
    • Pets
    • Blog
    • About Us
    • Disclaimer
    • Media Partners
    • Why You Need to Read Business News Everyday
    • Authors
    • Terms of Service & Privacy Policy
Follow US
  • About Us
  • Authors
  • Advertise
  • Contact Us
  • Disclaimer
  • My Bookmarks
  • Terms of Use & Privacy Policy
  • Media Partners
The News God > Blog > Home and Garden > Missteps to Avoid When Tackling Your First House Flip
Home and Garden

Missteps to Avoid When Tackling Your First House Flip

Rose Tillerson Bankson
Last updated: April 21, 2022 7:32 am
Rose Tillerson Bankson - Editor
April 21, 2022
Share
6 Min Read
Missteps to Avoid When Tackling Your First House Flip
SHARE

In recent years, house flipping has become an increasingly popular way for people to generate large amounts of capital within reasonably short time-frames. However, it’s important to note that flipping homes isn’t always as easy and profitable as many of the shows dedicated to the subject make it look. While it certainly is possible to profit from house flips, there are a plethora of missteps you’ll need to avoid along the way. So, if you’ll soon be tackling your first house flip, steer clear of the following blunders.

Contents
Not Calculating the Cost of Repairs/Renovations Not Having the Property Inspected Working With Unlicensed Contractors 

Not Calculating the Cost of Repairs/Renovations 

Although every house flip requires some level of repairs and/or renovations, it’s no stretch of the imagination to say that some homes need a lot more work than others. With this in mind, make sure to carefully calculate the cost of repairs/renovations before making an offer on a potential flip. For good measure, you should also obtain contractor estimates for the various jobs in advance of signing any paperwork. Once you have these estimates, consider approaching the seller about reducing the asking price. 

When considering whether to buy and hold or flip real estate, long-term profitability should feature heavily into your thinking. For example, if the collective cost of repairs/renovations for a prospective flip exceeds what you’re hoping to make from the home, this endeavor simply isn’t worth your time. Additionally, if the profit you do stand to make is relatively small, this is another indicator that you should simply walk away. 

Not Having the Property Inspected 

By failing to have a potential flip inspected by a seasoned professional, you’re practically setting yourself for a host of unpleasant surprises. So, before proceeding to make an offer on a prospective flip, enlist the aid of a certified home inspector. This person will be able to identify an extensive range of issues, including problems with plumbing, electricity and structural integrity. As an added bonus, the inspector’s findings may provide you with justification for requesting a reduction in asking price. 

Related Posts

Metal roofs stand out in the roofing world for their longevity and durability
How Roofing and Sheet Metal Work Together for Durability and Protection
The Ultimate Guide to Choosing a Rotary Phase Converter for Sale
How Many Cameras Should a House Have?
Fixing the Roof on Your Commercial Property: Practical Tips to Follow

No matter how good you think you are at identifying problems with homes, odds are your skills pale in comparison to those of a certified inspector. Some issues can only be identified by experienced pros, and if this is your first flip, it’s probably safe to say that you aren’t one. Forgoing an inspection is likely to result in large problems being unearthed after repairs/renovations are well underway, which stands to throw a wrench in your budgeting and cause considerable stress all around.     

Working With Unlicensed Contractors 

It’s easy to see why some house flippers opt to work with unlicensed contractors. For one thing, contractor labor generally doesn’t come cheap, and unlicensed contractors often charge lower rates than their licensed counterparts. However, while the desire to save money is always understandable, giving your business to unlicensed contractors stands to lose you a lot more capital than it stands to save you. 

To begin with, licensed contractors have insurance for both themselves and their employees. On the flipside, many unlicensed contractors do not, meaning you can be held liable for any injuries they incur on the job. Secondly, if an unlicensed contractor decides to simply walk away from a job or engage in other types of unprofessional behavior, they don’t run the risk of losing their license, as they never had one to begin with. Furthermore, whereas many licensed contractors will stand by their work and fix any problems at no additional cost, unlicensed contractors have no incentive not to charge for revisions that stem from their own shoddy workmanship. 

Of course, this isn’t to say that you’re going to enjoy working with every licensed contractor you come across. To help ensure that any contractors you hire are well-suited to your needs, take care to seek out client reviews and testimonials online before committing to give someone your business.    

Given the vast number of house flipping-based reality shows, it’s not difficult to see why so many people have come to view flipping homes as a convenient way to make money. And while there’s certainly an abundance of potentially profitable flipping opportunities, there are a number of factors that will determine how lucrative an endeavor your first flip proves to be. In the interest of ensuring that your first house flip goes as smoothly as possible, make a point of avoiding the mistakes discussed above.   

3 principles in the landscape lighting of residential communities
Furnace Repair in Asheville, NC
Why Commercial Buildings Need a Solar Expert: The Benefits of Going Solar
How to Make Moving Less Stressful
How to Take Control of a Spider Infestation
Share This Article
Facebook Email Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article Exercise Physiology What are the major benefits of exercise physiology?
Next Article Juan Orlando Hernández, the former president of Honduras, is scheduled to be extradited to the United States.
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Publications

2 Killed and 14 Wounded by Russian Drone Strike in Ukraine's Odesa, authorities say
2 Killed and 14 Wounded by Russian Drone Strike in Ukraine’s Odesa, authorities say
News
June 28, 2025
At Least 13 Pakistani Soldiers Killed In Suicide Bombing Near Afghan Border
At Least 13 Pakistani Soldiers Killed In Suicide Bombing Near Afghan Border
News
June 28, 2025
The Open Championship 2025: everything there is to know about World Golf’s oldest Major
The Open Championship 2025: everything there is to know about World Golf’s oldest Major
Sports
June 27, 2025
What Global Brands Miss About Local Events in Latin America: A Cultural Playbook for Success
What Global Brands Miss About Local Events in Latin America: A Cultural Playbook for Success
Entertainment
June 27, 2025
How Will the UK Gambling Review Affect the iGaming Industry
How Will the UK Gambling Review Affect the iGaming Industry
Entertainment
June 30, 2022

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe

You Might also Like

How to Create a One-of-a-Kind Garden with Unique Seeds
Home and Garden

How to Create a One-of-a-Kind Garden with Unique Seeds

March 13, 2024

Planning for a New Roof? Here’s How to Budget and Finance It

June 20, 2025
Fixing the Roof of Your House: How to Do It Safely
Home and Garden

6 Key Reasons Why Your Home’s Roof Deserves Attention

March 31, 2024
Enjoy Luxury Life With Modern Mansions
Home and Garden

Enjoy Luxury Life With Modern Mansions

May 26, 2022
Show More
© 2025 Thenewsgod. All Rights Reserved.
  • About
  • Contact Us
  • Terms of Use & Privacy Policy
  • Disclaimer
  • Authors
  • Media Partners
  • Videos
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?