How to Flip a House

How to Flip a House

Unless you’ve been living under a real estate rock the past 12-18 months, learning how to flip houses is a big deal right now.

With multiple reality television shows like Flip This House, Flip Men and all the others – it seems everyone has flipped for house flipping.

Just last week, I even got a call from US News and World Report and Yahoo! Homes in the same week to talk to them about house flipping.It just seems like there are so many people hyping the house flip thing, it seems a bit out of control.

House Flipping Hits Hollywood?

Even famous and even not-so-famous-anymore celebrities are now getting into house flipping…proving that Hollywood too it seems has gone flip-crazy.

The most recent one is star of the latest Bourne series of films and the upcoming big screen debut of Hansel and Gretel Jeremy Renner. He first got into it ten years ago having used his first big studio paycheck from the 2002 crime thriller “S.W.A.T.” to remodel a late 1960s fixer upper. As if a couple million from his movie career wasn’t enough to pay the bills, he walked away from that project with a $241,000 in profit.

According to Esquire Magazine, he’s flipped over 15 houses in the Los Angeles area and is now rehabbing an 11-bedroom fixer upper which he hopes to sell for a cool $25 million.

With foreclosures on the decline, the fact remains that there are many great opportunities available to get into good house flips – even as we work through the foreclosure inventory and climb our way out of the great recession.

House flip deals are still available and this makes for an ideal environment for people want to fix and flip houses – which may have something to do with the current frenzy.

So What Are The Steps to a House Flip?

Although house flipping has been hyped a lot recently, the fundamentals remain the same: it’s a great time to get into not only house flipping but real estate investing in general.

So toss the hype aside and let’s get down to how it’s done and what you can do to start doing it.

Make no mistake, house flipping has never been and will never be as simple and easy as the “gurus” would have you think.

Nor is it as easy as the reality shows would have you believe. Even if you ask them, they’ll tell you that it’s not as simple as it’s made to be on television.

House flipping takes hard work, education and in some cases years of experience to do really successfully.But that does not mean that the new real estate investor cannot start doing it successfully….

But to do that, there are some key steps to success – and although there is no way to explain ALL the little details of how to flip a house – it can be broken down essentially into ninebasic steps.

So to illustrate the steps needed to flip houses, I’ve put together the following infographic which simplifies what is in practice a complicated process with multiple moving parts.

But knowing the basic steps involved to start can certainly get you on your way to house flipping success.

I welcome you to use it on your website as well!

How to Flip a House in 9 Steps

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You are welcome to use this infographic on your site or blog. Simply copy the embed code above and paste into your website or blog!

About the Author

Mike LaCava is the President of Hold Em Realty and House Flipping School, both located in Southeastern Massachusetts. Mike is a full time real estate investor and a house flipping coach. He has also authored the book ““How to Flip a House In 5 Simple Steps” available for free at his website.

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