7 common flipping mistakes (and how to avoid them)

A good feasibility is the difference between a profitable flip and an expensive lesson. This article demonstrates every content type an editor can produce, so admin-entered content always renders correctly. It includes bold text, inline links, headings, lists and quotes.

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Body copy after an H1. With the right process you can size up a deal in about ten minutes — enter the address, confirm the purchase price, and let the tool do the maths.

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Body copy after an H2. Stamp duty, transfer fees, legals, building and pest inspections can all be pre-loaded so they auto-calculate against the purchase price.

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Body copy after an H3. A realistic timeline keeps your profit figure honest — factor in interest, rates, insurance and utilities for the expected hold period.

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Body copy after an H4. Break the renovation down room by room and add a contingency allowance for the surprises that always turn up.

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Body copy after an H5. Track budget versus actual as you go to stop a project quietly slipping into the red.

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Body copy after an H6. With costs and a proposed sale price in place, your estimated net profit is calculated automatically.

"The deals that fail are almost always the ones where hold costs and contingency were underestimated." Always leave yourself a buffer.

Ordered list

1. Start with the purchase price.
2. Add your buy costs, which break down into:
   1. Stamp duty and transfer fees.
   2. Legals and conveyancing.
   3. Building and pest inspections.
3. Estimate hold and sell costs.
4. Review your estimated profit.

Unordered list

• Price each room against a realistic scope.
• Add a 5–10% contingency for surprises, for example:
  • Structural issues found mid-reno.
  • Trade rate increases, which may include:
    • Plumbing variations.
    • Electrical upgrades, prioritised by:
      1. Safety compliance.
      2. Budget impact.
• Compare budget to actual spend weekly.

Ready to try it on your next deal? Get started free and run your first feasibility today.