At first glance, it may appear easy to buy a house, make a few cosmetic fixes, put it back on the market, and make a large profit. There are television shows that often feature investors who make the process look simple, enjoyable, and profitable.

Many homes are being flipped and this has been occurring for a while now. In 2019, 6.2% of all home sales were flips which is the highest it has been in 8 years. This 2020 there was a slight dip, however things have gone back to normal by the second quarter of 2021.

The biggest mistakes that would-be flippers make are: 1. Overlooking the basics 2. Not having a clear plan 3. Not understanding the market 4. Not having enough capital 5. Not being prepared for the worst.


  • Flipping houses is a business like any other: It requires knowledge, planning, and savvy to be successful.
  • Common mistakes novice real estate investors make are underestimating the time or money the project will require.
  • Another error house flippers make is overestimating their skills and knowledge.
  • Patience and good judgment are especially important in a timing-based business like real estate investing.