Fix-and-Flip Guide
Flipping rewards discipline and punishes wishful thinking. I help flippers find candidates, underwrite them honestly, and price the exit to the real market.
Underwrite the exit first
The number that matters most is the realistic resale value after repairs, based on live comparable sales, not the best sale on the street. Work backward from there: subtract a true rehab budget, holding and selling costs, and your margin, and that sets your maximum purchase price. Pay more than that and the deal is already in trouble.
Buy right and exit clean
Finding candidates takes a feel for which homes are mispriced for condition and which are mispriced for a reason. On the sell side, I price the finished product to the current comps and present it to draw the strongest buyer pool. The goal is a quick, clean exit at the number you underwrote.
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Written by
Jon Hegreness
REALTOR / Associate Broker, Howe Realty. AZ License BR540940000. 24 years in Phoenix Valley residential real estate.
I am a full-time Valley broker, not a call center. If anything here raised a question about your own move, ask me and you get a straight answer from the person who wrote this, every time.
Common questions
- How do you know what a flip will sell for?
- By pricing the after-repair value to live comparable sales of similar finished homes, conservatively. Overestimating the exit is the most common way flips lose money, so I keep that number honest.
- Can you help me find flip candidates?
- Yes. I help identify homes that are mispriced for condition rather than for a reason, and I run the exit math with you before you commit. Call or text me to talk strategy.
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