To make the most money flipping houses, the simpler a flip is, the better.
How much money can you make on a house flip?
But ATTOM also notes that this is most likely not an accurate number to use for what professional flippers make on each deal, as the figure takes into account all houses (flip properties or not) bought and sold within the year, and only factors the purchase price minus the selling price.
Why does a massive remodel usually not pay off for house flippers?
Big remodels take more time, more money and more resources.
• Time is money.
It can cost you as little as $50 to $100 to own a house flip.
• The longer you hold a property, the more you are at risk to a changing market.
A house that is over-improved may get a contract that justifies all the work done, but the appraisal could make all that work for naught if it comes in low.
Some of the most profitable houses may be minor rehab projects because they have lower expenses.