Lessons from 100+ Flips: What Most New Investors Overlook in Rehabs

[Joe Grespin]

Over the years, I’ve worked with dozens of investors on the financing side of house flips and have had a front-row seat to over 100+ deals — some wildly successful, others… expensive learning moments.

Here are 3 rehab lessons I see new flippers commonly overlook:

1. Underestimating Holding Costs
   Even with a solid contractor, delays happen. Weather, permits, surprises behind the walls — all add up. Make sure your budget isn’t too tight to weather a 30–60 day delay.

2. Over-improving for the Neighborhood
   I’ve seen beautiful quartz countertops go into homes where laminate would’ve been market-appropriate. Know what sells there, not what you personally love.

3. Underutilizing Leverage (or using the wrong kind)
   I’m biased since I work on the funding side, but too many investors either overleverage or tie up their cash when a short-term loan could’ve preserved liquidity for the next deal.

Curious to hear from others:

• - What rehab mistake cost you the most?

• - What’s your best time-saving tip during a flip?

I’m happy to share insights from the lending side if that’s helpful too. Let’s all learn from each other and grow stronger as investors.