Seven Fix and Flip Mistakes That Cost Real Money

Fix and Flip

The short version, then the substance.

Buying on hope instead of comps. The purchase is where profit is made or lost. Overpaying because the deal almost works, or because you have looked at forty houses and want one, is the original sin. The market does not care how much you wanted it.

Underestimating systems and timeline. Roof, foundation, HVAC, and permits blow more budgets than countertops ever will. Inspect the expensive things first and add real contingency. Then add buffer weeks, because contractors measure time in a different unit than calendars do.

Over-renovating for the street. The neighborhood sets the ceiling. A $60,000 kitchen on a $250,000 street is a donation to the next owner. Renovate to the comp standard, not to your taste, and let the comps tell you when to stop.

The South Texas angle. Averlend underwrites this every week in San Antonio and across Bexar County. If you are working a deal in Alamo Heights or anywhere else in the metro, the theory above comes with a local desk attached: see our San Antonio lending page or send the deal directly.