How much money on average do you make per flip?

Question

I know it varys a lot. Still, when you add the numbers and divide it by the number of flipps...

Tarl Yarber · Answer

I focus on cash on cash return based on the project ROI.

Yamila Perin · Answer

Hi Galit,

Due to the market conditions it is better to have a profit close to 60k in case that you have to renegotiate and lower your purchase price depending on the demand and market conditions.

Kenneth Garrett · Answer

@Galit Garsiel

I think it depends on the difficulty of the flip.  I bought a property cleaned it up and some cosmetic changes, took less then 30 days and sold in less then a week.  It was an easy $15,000.  I know some people won’t touch things for under $30K, 40K or 50K.  Your market is going to drive this, but in general at least $25K-30K would be my goal.  If I could I would do these little $15,000 flips each month.  It’s way better then spending 90-120 days on a 30K-40K flip.  Like all investing, it’s all about the numbers.

Henry T. · Answer

I try to double my purchase price. I'm never that concerned about rehab costs because I do most of my own work. Problem is some projects take me almost a year to finish. I saw one guy only change the carpet and almost double his purchase price. Learned lesson was I didn't see the value but he did.

Galit Garsiel · Answer

30k is after you paid for the painting and rennovation, and what you pay the lawyer, etc...

Eliott Elias · Answer

I have a rule of thumb, it has to make at least 30k

Andy Sabisch · Answer

As you said, it varies a lot . . . . it depends on the market.  In one of our areas you can buy properties for $40K or less and on a flip make $20K.  In other markets, flippers do not get dressed for $20K but then they are paying $400K for properties.  So it depends on your market and what the spread is between buy and sell.  Thankfully we are not in the 400K and up market as it makes it easier to buy and flip properties.

How much money on average do you make per flip?

Most Popular Reply