In this episode, Jay and I break down some of the most common—and costly—mistakes that real estate investors make when flipping houses. With over 15 years of hands-on flipping experience, we’re sharing the lessons we’ve learned the hard way so you don’t have to. From over-improving properties to skipping the staging budget, we cover it all.

We walk through real examples, including major misses on labor budgeting, scope creep, and ignoring neighborhood dynamics. Whether you’re just starting or scaling your flips, this episode will help you build a more profitable and sustainable strategy for your next rehab project.

Episode Timeline:

[0:00] - Intro: Flipping mistakes we’ve made and seen over the years

[1:07] - Why slow flips can sabotage your marriage (and your sanity)

[1:52] - The types of houses we buy (and why most people avoid them)

[3:03] - Understanding your market’s timing and trends

[3:40] - Mistake #1: Not paying yourself or budgeting for labor

[5:14] - What happens when you get injured and didn’t plan for help

[6:10] - How hiring a crew changed our business

[6:48] - Mistake #2: No defined scope of work before hiring contractors

[7:43] - Creating your “needs vs. wants” renovation list

[8:41] - Mistake #3: Over-improving for the area (and losing money)

[9:26] - Using comps to guide your design and finish choices

[10:08] - Why contractors upselling you can hurt your margins

[11:01] - Neighborhood analysis and surprises that kill a sale

[11:57] - Mistake #4: Not including a contingency buffer in your budget

[13:15] - Getting multiple bids and what to look for in a quote

[14:33] - Why an on-site scope of work is non-negotiable

[15:44] - Mistake #5: Forgetting to budget for staging

[16:42] - How we stage difficult layouts to help buyers visualize

[18:08] - Why staging drastically shortens time on market

[19:26] - Adjusting your rehab plan mid-project without losing margin

[20:20] - Appliance packages: provide them, offer credit, or skip?

[21:30] - How rental-heavy neighborhoods impact your exit strategy

[22:37] - Full recap: Our top 10 must-dos for every flip

[23:25] - Final thoughts and where to reach us for bids or support

5 Key Takeaways:

1. Pay yourself—or someone else—from day one to avoid delays, burnout, or worse if something goes wrong.

2. Define your scope of work upfront with a detailed needs/wants list and share it clearly with contractors.

3. Match finishes to the comps, not your personal taste. Overbuilding will eat your profits.

4. Budget for the unknown by adding contingency to every line item. Surprises will happen.

5. Stage your properties smartly, especially if you want top dollar quickly—even light staging makes a big difference.

If this episode helped you rethink how you approach flips, please rate, review, and share The Real Estate Ride. We appreciate your support and hope it helps you level up your next project.