Looking for People with House Flipping Experience
New to Real Estate · Lexington, KY · Member since 2025 · 17 posts · 20 votes
Looking for People with House Flipping Experience
Most Popular Reply
Property Manager · Orlando, FL · Member since 2025 · 19 posts · 18 votes
9moQuote from @Jack Nolan:
Quote from @Jason Garriga:
Hi Jack,
My name is Jason, I own and operate Alto Property Solutions, which is a company that manages flips for local and out-of-state investors. I also flip myself whenever I find a lucrative enough deal.
Margins:
In my opinion, you should aim for at least a 30% ROI—especially on your first project. Even with your dad's experience behind you, there will be a learning curve, and those early mistakes can be costly. A healthy margin gives you the cushion you need while you're getting your bearings.
Subs vs. DIY:
Always use subcontractors unless construction is something you’ve done professionally. If you haven’t worked in the trades, it’s almost always better to let the pros handle it. Nothing slows down a sale more than buyers being able to tell a house was flipped. Clean, professional workmanship makes a massive difference in how fast a property moves.
Timeline:
Ideally, think in terms of 90 days: about 30 days for renovations, 30 days on market, and 30 days for escrow. Renovation scope will shift this, of course, but a helpful rule of thumb is $1,000 in reno cost = about 1 day of work. So a $30k reno should take roughly 30 days, a $90k reno around 90 days, and so on.
A quick note here: good subs are your lifeline. When you have a reliable team, you can complete a $90k renovation in 40–50 days, which becomes a huge competitive advantage and a major profit booster.
Lending:
This part varies a lot because so much depends on interest rates. If you have the ability to use cash, do it—it keeps your costs predictable and avoids interest eating into your returns. If you need to borrow, make sure you’re choosing whatever option costs you the least in interest.
Be cautious with partnerships. If you do go that route, only partner with someone you genuinely trust, and make sure every detail is clearly outlined in a contract drafted by an attorney. A bad partner can derail a good project quickly.
Biggest Obstacle:
For most first-time flippers, the renovation phase is the toughest. Unexpected issues that turn into added costs are the number-one profit killer of flips, in my experience. Some surprises are unavoidable, but you can mitigate a lot of them by doing two things:
-
Get an extremely thorough inspection. Many “unforeseen” issues are actually things that could’ve been caught upfront with more diligence. Inspect more than once if needed, and bring your GC, electrician, or a trusted partner to get multiple sets of eyes on the property.
-
Add at least a 10% buffer to your renovation budget. This gives you breathing room when—not if—you run into a surprise. Even with a ton of experience and dialed-in reno numbers, I still build this buffer into every flip I do.
If you ever want to talk through a deal or run numbers together, feel free to let me know, I’m happy to help!
Thanks for the detailed breakdown — the way you framed margin, timelines, and the $1k-per-day reno rule is really helpful. I’m planning to stay conservative on my first flip and will definitely take your advice on using reliable subs. I may reach out to you when I’m analyzing a deal if I feel I need a second set of eyes. I appreciate you offering to help!
Absolutely, and sure thing, feel free to reach out anytime!
11 Replies
- Real Estate Agent · Columbus | Toledo · Member since 2019 · 607 posts · 768 votes9mo
Hey Jack, welcome to BP! Having your dad's experience is a big plus.
My first real flip (after a couple of live-in cosmetic ones) was a full gut job I bought off a wholesaler in Columbus, OH. I budgeted 3 months, but it stretched to 8 months!
For the numbers: I bought for $56k, had a $105k rehab, and sold for $210k, walking away with almost $30k profit. I started with my own cash and hired contractors for the big stuff (roof, electric, plumbing). Then a surprise sewer line issue hit, which forced me to pivot. I ran out of time/cash, so I found a great partner (a licensed GC from a local REIA) who finished the rest, and we split the profit after I got my initial investment back. The whole timeline from purchase to sold was 8 months. My biggest obstacle was definitely the unexpected costs, especially the sewer line replacement, which made me partner up.
It was tough, but a huge learning curve and great proof of concept. Good luck with your first deal!
- New to Real Estate · Lexington, KY · Member since 2025 · 17 posts · 20 votes9mo
Quote from @Anthony L Amos Jr:
Hey Jack, welcome to BP! Having your dad's experience is a big plus.
My first real flip (after a couple of live-in cosmetic ones) was a full gut job I bought off a wholesaler in Columbus, OH. I budgeted 3 months, but it stretched to 8 months!
For the numbers: I bought for $56k, had a $105k rehab, and sold for $210k, walking away with almost $30k profit. I started with my own cash and hired contractors for the big stuff (roof, electric, plumbing). Then a surprise sewer line issue hit, which forced me to pivot. I ran out of time/cash, so I found a great partner (a licensed GC from a local REIA) who finished the rest, and we split the profit after I got my initial investment back. The whole timeline from purchase to sold was 8 months. My biggest obstacle was definitely the unexpected costs, especially the sewer line replacement, which made me partner up.
It was tough, but a huge learning curve and great proof of concept. Good luck with your first deal!
Thanks for sharing your experience — that sewer line surprise sounds brutal but the partnership pivot was smart. The numbers and timeline you shared give me a solid reference point as I’m prepping for my first flip.
- 9moJimmy LieuBusiness MemberReal Estate Agent · Columbus, OH · Member since 2019 · 3k+ posts · 2k+ votesHey Jack, welcome to BP! Since you’ve been around real estate through your dad, you already have a good foundation, which will help a lot on your first fix and flip. For your first deal, a lot of people aim for at least 20–30% margin between total costs and resale price, but it really depends on the market and scope of work. Some investors do as much of the work themselves as they can to save money, while subcontracting specialized trades like electrical or plumbing, so a mix is common. Timelines for a first flip can vary, but 3–6 months from purchase to sale is typical if everything goes smoothly. Financing often depends on your cash position and risk tolerance—some use cash or hard money to move quickly, others partner or use a loan, but having some flexibility helps. Biggest obstacles tend to be underestimating rehab costs and timelines, so budgeting extra time and money for surprises is key. Overall, just start small, run your numbers carefully, and treat the first one as a learning experience. Happy to connect and answer any questions you have!
Quote from @Jack Nolan:
Good afternoon BP,
I am a student investor at the University of Kentucky looking to get involved their first rehab/fix and flip in the Lexington-Fayette county area. I have been involved in real estate my whole life, watching my dad do it himself and now it is my turn. To those reading this (assuming you have done a fix and flip), I have a couple of questions:
What did your margins look like on your first fix and flip, or what do you try to aim for when doing one?
Did you do the work yourself or did you subcontract (or both)?
What was your timeline from Purchase to Sold?
Did you partner, use hard money, a loan, or cash?
and
What was your biggest obstacle?
You do not have to reply to all of these questions, but it would be extremely helpful.
Thank you,
Jack Nolan
Jimmy Lieu, Red 1 Realty4.9120 Reviews- New to Real Estate · Lexington, KY · Member since 2025 · 17 posts · 20 votes9mo
Quote from @Jimmy Lieu:
Hey Jack, welcome to BP! Since you’ve been around real estate through your dad, you already have a good foundation, which will help a lot on your first fix and flip. For your first deal, a lot of people aim for at least 20–30% margin between total costs and resale price, but it really depends on the market and scope of work. Some investors do as much of the work themselves as they can to save money, while subcontracting specialized trades like electrical or plumbing, so a mix is common. Timelines for a first flip can vary, but 3–6 months from purchase to sale is typical if everything goes smoothly. Financing often depends on your cash position and risk tolerance—some use cash or hard money to move quickly, others partner or use a loan, but having some flexibility helps. Biggest obstacles tend to be underestimating rehab costs and timelines, so budgeting extra time and money for surprises is key. Overall, just start small, run your numbers carefully, and treat the first one as a learning experience. Happy to connect and answer any questions you have!Quote from @Jack Nolan:
Good afternoon BP,
I am a student investor at the University of Kentucky looking to get involved their first rehab/fix and flip in the Lexington-Fayette county area. I have been involved in real estate my whole life, watching my dad do it himself and now it is my turn. To those reading this (assuming you have done a fix and flip), I have a couple of questions:
What did your margins look like on your first fix and flip, or what do you try to aim for when doing one?
Did you do the work yourself or did you subcontract (or both)?
What was your timeline from Purchase to Sold?
Did you partner, use hard money, a loan, or cash?
and
What was your biggest obstacle?
You do not have to reply to all of these questions, but it would be extremely helpful.
Thank you,
Jack Nolan
Thanks for the insight — that breakdown on margins and timelines helps a lot. I’m planning to stay conservative on my first flip and build in some buffers for rehab and holding costs.
- Property Manager · Orlando, FL · Member since 2025 · 19 posts · 18 votes9mo
Hi Jack,
My name is Jason, I own and operate Alto Property Solutions, which is a company that manages flips for local and out-of-state investors. I also flip myself whenever I find a lucrative enough deal.
Margins:
In my opinion, you should aim for at least a 30% ROI—especially on your first project. Even with your dad's experience behind you, there will be a learning curve, and those early mistakes can be costly. A healthy margin gives you the cushion you need while you're getting your bearings.Subs vs. DIY:
Always use subcontractors unless construction is something you’ve done professionally. If you haven’t worked in the trades, it’s almost always better to let the pros handle it. Nothing slows down a sale more than buyers being able to tell a house was flipped. Clean, professional workmanship makes a massive difference in how fast a property moves.Timeline:
Ideally, think in terms of 90 days: about 30 days for renovations, 30 days on market, and 30 days for escrow. Renovation scope will shift this, of course, but a helpful rule of thumb is $1,000 in reno cost = about 1 day of work. So a $30k reno should take roughly 30 days, a $90k reno around 90 days, and so on.
A quick note here: good subs are your lifeline. When you have a reliable team, you can complete a $90k renovation in 40–50 days, which becomes a huge competitive advantage and a major profit booster.Lending:
This part varies a lot because so much depends on interest rates. If you have the ability to use cash, do it—it keeps your costs predictable and avoids interest eating into your returns. If you need to borrow, make sure you’re choosing whatever option costs you the least in interest.
Be cautious with partnerships. If you do go that route, only partner with someone you genuinely trust, and make sure every detail is clearly outlined in a contract drafted by an attorney. A bad partner can derail a good project quickly.Biggest Obstacle:
For most first-time flippers, the renovation phase is the toughest. Unexpected issues that turn into added costs are the number-one profit killer of flips, in my experience. Some surprises are unavoidable, but you can mitigate a lot of them by doing two things:-
Get an extremely thorough inspection. Many “unforeseen” issues are actually things that could’ve been caught upfront with more diligence. Inspect more than once if needed, and bring your GC, electrician, or a trusted partner to get multiple sets of eyes on the property.
-
Add at least a 10% buffer to your renovation budget. This gives you breathing room when—not if—you run into a surprise. Even with a ton of experience and dialed-in reno numbers, I still build this buffer into every flip I do.
If you ever want to talk through a deal or run numbers together, feel free to let me know, I’m happy to help!
- New to Real Estate · Lexington, KY · Member since 2025 · 17 posts · 20 votes9mo
Quote from @Jason Garriga:
Hi Jack,
My name is Jason, I own and operate Alto Property Solutions, which is a company that manages flips for local and out-of-state investors. I also flip myself whenever I find a lucrative enough deal.
Margins:
In my opinion, you should aim for at least a 30% ROI—especially on your first project. Even with your dad's experience behind you, there will be a learning curve, and those early mistakes can be costly. A healthy margin gives you the cushion you need while you're getting your bearings.Subs vs. DIY:
Always use subcontractors unless construction is something you’ve done professionally. If you haven’t worked in the trades, it’s almost always better to let the pros handle it. Nothing slows down a sale more than buyers being able to tell a house was flipped. Clean, professional workmanship makes a massive difference in how fast a property moves.Timeline:
Ideally, think in terms of 90 days: about 30 days for renovations, 30 days on market, and 30 days for escrow. Renovation scope will shift this, of course, but a helpful rule of thumb is $1,000 in reno cost = about 1 day of work. So a $30k reno should take roughly 30 days, a $90k reno around 90 days, and so on.
A quick note here: good subs are your lifeline. When you have a reliable team, you can complete a $90k renovation in 40–50 days, which becomes a huge competitive advantage and a major profit booster.Lending:
This part varies a lot because so much depends on interest rates. If you have the ability to use cash, do it—it keeps your costs predictable and avoids interest eating into your returns. If you need to borrow, make sure you’re choosing whatever option costs you the least in interest.
Be cautious with partnerships. If you do go that route, only partner with someone you genuinely trust, and make sure every detail is clearly outlined in a contract drafted by an attorney. A bad partner can derail a good project quickly.Biggest Obstacle:
For most first-time flippers, the renovation phase is the toughest. Unexpected issues that turn into added costs are the number-one profit killer of flips, in my experience. Some surprises are unavoidable, but you can mitigate a lot of them by doing two things:-
Get an extremely thorough inspection. Many “unforeseen” issues are actually things that could’ve been caught upfront with more diligence. Inspect more than once if needed, and bring your GC, electrician, or a trusted partner to get multiple sets of eyes on the property.
-
Add at least a 10% buffer to your renovation budget. This gives you breathing room when—not if—you run into a surprise. Even with a ton of experience and dialed-in reno numbers, I still build this buffer into every flip I do.
If you ever want to talk through a deal or run numbers together, feel free to let me know, I’m happy to help!
Thanks for the detailed breakdown — the way you framed margin, timelines, and the $1k-per-day reno rule is really helpful. I’m planning to stay conservative on my first flip and will definitely take your advice on using reliable subs. I may reach out to you when I’m analyzing a deal if I feel I need a second set of eyes. I appreciate you offering to help!
-
- Property Manager · Orlando, FL · Member since 2025 · 19 posts · 18 votes9mo
Quote from @Jack Nolan:
Quote from @Jason Garriga:
Hi Jack,
My name is Jason, I own and operate Alto Property Solutions, which is a company that manages flips for local and out-of-state investors. I also flip myself whenever I find a lucrative enough deal.
Margins:
In my opinion, you should aim for at least a 30% ROI—especially on your first project. Even with your dad's experience behind you, there will be a learning curve, and those early mistakes can be costly. A healthy margin gives you the cushion you need while you're getting your bearings.Subs vs. DIY:
Always use subcontractors unless construction is something you’ve done professionally. If you haven’t worked in the trades, it’s almost always better to let the pros handle it. Nothing slows down a sale more than buyers being able to tell a house was flipped. Clean, professional workmanship makes a massive difference in how fast a property moves.Timeline:
Ideally, think in terms of 90 days: about 30 days for renovations, 30 days on market, and 30 days for escrow. Renovation scope will shift this, of course, but a helpful rule of thumb is $1,000 in reno cost = about 1 day of work. So a $30k reno should take roughly 30 days, a $90k reno around 90 days, and so on.
A quick note here: good subs are your lifeline. When you have a reliable team, you can complete a $90k renovation in 40–50 days, which becomes a huge competitive advantage and a major profit booster.Lending:
This part varies a lot because so much depends on interest rates. If you have the ability to use cash, do it—it keeps your costs predictable and avoids interest eating into your returns. If you need to borrow, make sure you’re choosing whatever option costs you the least in interest.
Be cautious with partnerships. If you do go that route, only partner with someone you genuinely trust, and make sure every detail is clearly outlined in a contract drafted by an attorney. A bad partner can derail a good project quickly.Biggest Obstacle:
For most first-time flippers, the renovation phase is the toughest. Unexpected issues that turn into added costs are the number-one profit killer of flips, in my experience. Some surprises are unavoidable, but you can mitigate a lot of them by doing two things:-
Get an extremely thorough inspection. Many “unforeseen” issues are actually things that could’ve been caught upfront with more diligence. Inspect more than once if needed, and bring your GC, electrician, or a trusted partner to get multiple sets of eyes on the property.
-
Add at least a 10% buffer to your renovation budget. This gives you breathing room when—not if—you run into a surprise. Even with a ton of experience and dialed-in reno numbers, I still build this buffer into every flip I do.
If you ever want to talk through a deal or run numbers together, feel free to let me know, I’m happy to help!
Thanks for the detailed breakdown — the way you framed margin, timelines, and the $1k-per-day reno rule is really helpful. I’m planning to stay conservative on my first flip and will definitely take your advice on using reliable subs. I may reach out to you when I’m analyzing a deal if I feel I need a second set of eyes. I appreciate you offering to help!
Absolutely, and sure thing, feel free to reach out anytime!
-
- New to Real Estate · Lexington, KY · Member since 2025 · 17 posts · 20 votes9mo
Quote from @Jason Garriga:
Quote from @Jack Nolan:
Quote from @Jason Garriga:
Hi Jack,
My name is Jason, I own and operate Alto Property Solutions, which is a company that manages flips for local and out-of-state investors. I also flip myself whenever I find a lucrative enough deal.
Margins:
In my opinion, you should aim for at least a 30% ROI—especially on your first project. Even with your dad's experience behind you, there will be a learning curve, and those early mistakes can be costly. A healthy margin gives you the cushion you need while you're getting your bearings.Subs vs. DIY:
Always use subcontractors unless construction is something you’ve done professionally. If you haven’t worked in the trades, it’s almost always better to let the pros handle it. Nothing slows down a sale more than buyers being able to tell a house was flipped. Clean, professional workmanship makes a massive difference in how fast a property moves.Timeline:
Ideally, think in terms of 90 days: about 30 days for renovations, 30 days on market, and 30 days for escrow. Renovation scope will shift this, of course, but a helpful rule of thumb is $1,000 in reno cost = about 1 day of work. So a $30k reno should take roughly 30 days, a $90k reno around 90 days, and so on.
A quick note here: good subs are your lifeline. When you have a reliable team, you can complete a $90k renovation in 40–50 days, which becomes a huge competitive advantage and a major profit booster.Lending:
This part varies a lot because so much depends on interest rates. If you have the ability to use cash, do it—it keeps your costs predictable and avoids interest eating into your returns. If you need to borrow, make sure you’re choosing whatever option costs you the least in interest.
Be cautious with partnerships. If you do go that route, only partner with someone you genuinely trust, and make sure every detail is clearly outlined in a contract drafted by an attorney. A bad partner can derail a good project quickly.Biggest Obstacle:
For most first-time flippers, the renovation phase is the toughest. Unexpected issues that turn into added costs are the number-one profit killer of flips, in my experience. Some surprises are unavoidable, but you can mitigate a lot of them by doing two things:-
Get an extremely thorough inspection. Many “unforeseen” issues are actually things that could’ve been caught upfront with more diligence. Inspect more than once if needed, and bring your GC, electrician, or a trusted partner to get multiple sets of eyes on the property.
-
Add at least a 10% buffer to your renovation budget. This gives you breathing room when—not if—you run into a surprise. Even with a ton of experience and dialed-in reno numbers, I still build this buffer into every flip I do.
If you ever want to talk through a deal or run numbers together, feel free to let me know, I’m happy to help!
Thanks for the detailed breakdown — the way you framed margin, timelines, and the $1k-per-day reno rule is really helpful. I’m planning to stay conservative on my first flip and will definitely take your advice on using reliable subs. I may reach out to you when I’m analyzing a deal if I feel I need a second set of eyes. I appreciate you offering to help!
Absolutely, and sure thing, feel free to reach out anytime!
Will do! Thank you.
-
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- 9moKerlous TadresBusiness MemberRealtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
@Jack Nolan, On my first flips, I aimed for 15–20% net, subcontracted most of the work, and the biggest lesson was lining up reliable trades before closing. If you buy right, keep scope tight, and budget for surprises, you’ll set yourself up for a win.
Kerlous Tadres | Reafco Real Estate540 Reviews- New to Real Estate · Lexington, KY · Member since 2025 · 17 posts · 20 votes9mo
Quote from @Kerlous Tadres:
@Jack Nolan, On my first flips, I aimed for 15–20% net, subcontracted most of the work, and the biggest lesson was lining up reliable trades before closing. If you buy right, keep scope tight, and budget for surprises, you’ll set yourself up for a win.
Appreciate the advice — lining up trades before closing is something I’m definitely trying to get better about. I am currently still building up contacts and continuing to network. Keeping the scope tight and budgeting for surprises seems to be the common theme I’m hearing. Thanks for the guidance!
- Real Estate Broker · Chicago, IL · Member since 2014 · 2k+ posts · 1k+ votes9mo
Quote from @Jack Nolan:
Good afternoon BP,
I am a student investor at the University of Kentucky looking to get involved their first rehab/fix and flip in the Lexington-Fayette county area. I have been involved in real estate my whole life, watching my dad do it himself and now it is my turn. To those reading this (assuming you have done a fix and flip), I have a couple of questions:
What did your margins look like on your first fix and flip, or what do you try to aim for when doing one?
Did you do the work yourself or did you subcontract (or both)?
What was your timeline from Purchase to Sold?
Did you partner, use hard money, a loan, or cash?
and
What was your biggest obstacle?
You do not have to reply to all of these questions, but it would be extremely helpful.
Thank you,
Jack NolanWhat did your margins look like on your first fix and flip, or what do you try to aim for when doing one?- Honestly it was such a long time ago that I can't remember our margins or what we aimed for. What we aim for now is a minimum return better than what we can get from our stocks. I do recall that at the beginning we would not accept a profit less than $25K on small single family homes.
Did you do the work yourself or did you subcontract (or both)?- Never did anywork outselves. That's just another job & we could not scale doing work ourselves.
What was your timeline from Purchase to Sold?- We tried to target locations where the average days on market is 30 days or less, but we always break the rule when the profit margin is large enough. On average we try to be in and out of projects in 6 months or less.
Did you partner, use hard money, a loan, or cash?- All of the above. Our Self Directed IRAs partnered on many deals.What was your biggest obstacle?- Analysis paralysis.
Good luck
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