What are the steps to flip a house?

Find a deal, analyze the numbers (ARV, rehab, max offer, profit), secure financing and buy, manage the renovation, then sell. Working them in order — analyzing before offering and financing before closing — prevents the most common costly mistakes.

What's the most overlooked step in flipping?

Fully analyzing costs before offering. Beginners often estimate the purchase and rehab but forget holding, financing, and selling costs, which together can run 15%+ of the sale price and erase a projected profit.

Free template

House Flipping Checklist: Buy to Sale (Free)

Work the steps in order and nothing falls through the cracks.

Quick answer

A house flipping checklist walks a project through five phases: find a deal, analyze the numbers, secure financing, manage the renovation, and sell. Working the steps in order — especially analyzing before you offer and lining up financing before you close — is how beginners avoid the mistakes that wipe out profit. Use the checklist below.

House flipping has a natural order, and skipping steps is where beginners lose money. Use this phase-by-phase checklist to keep every project on track from the first lead to the closing table.

1. Find the deal

Define buy criteria (market, price band, property type)
Set up lead sources (MLS, off-market, wholesalers, agents)
Screen leads against your criteria
Run a quick 70% rule check

2. Analyze

Estimate ARV from comps
Estimate rehab cost (line item)
Calculate max offer (MAO)
Confirm projected profit and ROI
Account for holding, financing & selling costs

3. Finance & buy

Line up financing / pre-approval
Make offer at or below MAO
Schedule inspection
Secure insurance (vacant + builder's risk)
Close and take possession

4. Renovate

Finalize scope of work
Get & compare contractor bids
Pull permits
Set draw schedule
Manage timeline, budget & quality
Final walkthrough & punch list

5. Sell

Clean & stage
Professional photos
Price from current comps
List & market
Review offers & negotiate
Close the sale

How to use it

Run every lead through phases 1–2 before making an offer.
Don't close (phase 3) until financing and insurance are confirmed.
Use the scope of work and draw schedule templates inside phase 4.
Track the whole project in one place so steps don't get skipped.

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Frequently asked questions

What are the steps to flip a house?: Find a deal, analyze the numbers (ARV, rehab, max offer, profit), secure financing and buy, manage the renovation, then sell. Working them in order — analyzing before offering and financing before closing — prevents the most common costly mistakes.
What's the most overlooked step in flipping?: Fully analyzing costs before offering. Beginners often estimate the purchase and rehab but forget holding, financing, and selling costs, which together can run 15%+ of the sale price and erase a projected profit.