When you flip a home, you need to make sure that the investment will turn a profit. Today, I’ll show you what that looks like.
Want to sell your Tyler Home? Get a FREE home value report Want to buy a Tyler Home? Search all homes for sale
Today, I’m out at one of our flip properties that we’ve just started. A question that a lot of investors or would-be investors ask is, “Should I buy a property and hold it, or should I consider flipping it?”

There is a difference between buying and holding a property and flipping it.

When you’re flipping a property, you have to make sure that you have enough room to be able to make a profit somewhere in the neighborhood of 30% to 40% after you’ve factored in the cost of fixing it up. Otherwise, it’s probably not a wise decision to buy and flip a property.

For flipping, you want to look for the worst house in a great neighborhood, and I don’t think it can get any worse than the house we’re flipping today. We’ve already filled a dumpster once and it’s just about full again. This will be a complete down-to-the-studs renovation.

As I said, there needs to be room for value when it comes to buying a property to flip. When it’s all said and done, you’ll need to be able to make a profit after closing costs and other expenses. This home that we’re flipping is very distressed now, but because it’s in a good neighborhood in a great school district, there is a high chance of a good return on the investment.

For flipping, you want to look for the worst house in a great neighborhood.
Follow along in the video above for a look at what we’re doing inside of the home and to see what I mean by going down to the studs.

We have knocked out the entire first floor of the home. Built in the 1970s, it will now become an open-concept home with an open kitchen, an island, a dining area, and more. It will be a complete transformation. As a 2,300 square foot, 3-bedroom, 3-full bath home with a 2-car garage, it will probably sell for around $240,000 once it’s finished. In a couple months, we’ll revisit the property to show you what it looks like after we’ve made quite a bit of headway in its renovation and to give you an idea about the costs involved.

We do also look for homes where the flipping process won’t be as dramatic. It might involve taking down some wallpaper, changing out some fixtures, painting, and putting in new flooring.

If you have any questions about flipping, if you’d like to see how much your home is worth, or if you’re thinking about investing, feel free to give me a call. You can also visit my website for a free valuation of your house. I look forward to hearing from you soon.