How much profit are you guys looking to make on flips?

Question

Hey guys, I’m out in the jax Fl area. I was wondering what’s a rough estimate on how much profit you guys are looking to make on flips.

Katie Neason · Answer

Minimum is $30,000 target is $50,000 and the house has to at least breakeven in the event we cannot sell it and have to rent it.

Ian Walsh · Answer

Most deals I see target 10% on the low end to 30% on the high end.

Matthew Crivelli · Answer

So at least 25%.

You have to Pay the Lender

You have to pay the agent/ broker

Costs of just owning the property

If you end up in a house with little room for profit you open up in a room of loss.

Cody Rosenbalm · Answer

My minimum is $30k but my target is $50k. The flip I'm working on selling right now is what I consider a "slam dunk" and I'm profiting $65k before taxes. I try to buy at $100k or below and sell at around $180k-$200k.

Dan Armich · Answer

We use a slightly different viewpoint for profit. We look for a flip to allow us to at least double the property purchases. Eg we sell one to buy two or three more. This normally equates to making 30-45k on each flip.

The percentage is usually 30-40% of the sale price, which is right around 100% of my invested money.
- Dan

The percentage is usually 30-40% of the sale price, which is right around 100% of my invested money. - Dan

Mark Phillips · Answer

@Elvis Briseno I flip in Atlanta, but for me it depends on the purchase price and loan I’m getting. If it’s under $150k, I aim for $20k CONSERVATIVELY. $150 - $250 I like to aim for at least $30k. I don’t buy anything above that (at least I haven’t yet!)

I also aim to get loans for the full purchase price, so I pay a good but in interest but I’m okay with that if I don’t have to come out of pocket very much.

Evan Polaski · Answer

@Elvis Briseno, I don't flip in JAX, but I want a minimum profit of $30k or about 20% of investment. Meaning if my all in cost is $100k (hasn't been this low in a long time) I want to make at least $30k. If my all in is $200k, I want to make $40k (20%).

The $30k minimum is because things always come up in rehabs, and spending an extra $10k above my buffered budget, is no uncommon, and then I still make some money.

Elvis Briseno · Answer

@Mark Phillips I’m in Jacksonville Fl. I’m just trying to get a feel on what I should be aiming for

Mark Phillips · Answer

@Cody Rosenbalm What market are you in?

Cody Neumann · Answer

@Elvis Briseno

My minimum is also $30k. A lot of flippers will calculate the price they will pay for a house as 70% of ARV - rehab cost = purchase price

How much profit are you guys looking to make on flips?

How much profit are you guys looking to make on flips?

Most Popular Reply

11 Replies