Hello! I come from the design side and about to embark on my first fix and flip but I feel like I need someone to bounce ideas off of, or to acknowledge I'm making the right first decisions because the more I read, the more pitfalls come to surface... finding the right purchase, comps, rehab, subcontractors, timing, budget, LLCs, taxes, loans i.e. the whole scope. Is there a place or event where people in the vicinity get together? Otherwise you can catch me on the forums :) Cheers
Hinton, WV · Member since 2026 · 1k+ posts · 373 votes
8mo
The design background is actually a huge advantage - you'll spot value-add opportunities most investors miss. One thing that helped me early on: find 3 recent flips in your target area and reverse-engineer their numbers. Drive by, check permit records, estimate their costs vs sale price. Gives you real comps instead of just Zillow guessing. What area are you targeting for your first flip?
Thanks Bo. I've got eyes on SFRs and some 2 family homes mainly in the Newton–Lexington line. Are you in the area? Good point about the reverse-engineering and permit records - something I've recently discovered myself as well! Not sure how to distinguish or filter for flips in a target area? I guess another question is estimating rehab budget based on the scope of work – I have ballpark numbers but without subs and much previous experience and specific walk-throughs, they remain ballpark figures. On that note, where to find good subs to partner with? Talking to other developers? General contractors? Those are things I'm hearing. Prices and budgets are so tight nowadays and even tighter with my HML and private equity partner obligations so I want to nail the numbers as much as possible.