How Much Does It Really Cost to Flip a House in Hampton Roads?

Everyone wants to know how much money you can make flipping a house.

We’ve learned the better question is: how much is this thing actually going to cost us?

The purchase price is only the beginning.

Once we start a flip, there’s demo, materials, labor, repairs, upgrades, and usually at least one expense we didn’t see coming. On our Ocean View project, what sounds like a simple change, replacing a sliding glass door with a door and window ended up costing about $3,500.

That’s why we believe every flip needs what we lovingly call the “Oh Sh*t Fund.”

You can plan, price and budget all you want, but old houses have a way of keeping a few secrets.

The goal isn’t to avoid every surprise; it’s to know your numbers well enough that a surprise doesn’t sink the flip.