How to Find and Finance Your First Fix and Flip Property
Getting into the fix and flip game can be exciting, profitable, and even intimidating if you’re starting out. The good news? With the right strategy and the right financing partner, your first flip doesn't have to be risky or overwhelming.
This guide walks you through how to find a great flip opportunity, what to look for in a property, and how to finance your project with the help of a trusted lender like Barnett REI Finance.
Step 1: Research the Right Market
Before you ever walk into a distressed home, you need to know where to look. A profitable flip starts with the right location.
Look for areas with:
Strong buyer demand and rising home values
Low days on market
Limited inventory
Signs of new development
Pro Tip: Use tools like Zillow to track market trends, comps, and recent flips in your target area.
Step 2: Know What Makes a Good Fix and Flip
Not every distressed home is a good flip. The key is knowing how to identify undervalued properties that can be renovated for profit.
Ideal Flip Properties:
Are priced below market value
Need mostly cosmetic repairs (not major foundation or structural work)
Are located in desirable or improving neighborhoods
Have a clear path to resale (avoid odd layouts)
Step 3: Assemble Your Team
Surround yourself with professionals who understand real estate. Your dream team should include:
A real estate agent who knows investor-friendly deals
A contractor or renovation crew
A home inspector
A private lender who specializes in fix-and-flip loans
Step 4: How to Finance Your First Flip - Without Using All of Your Cash
One of the biggest myths in real estate is that you need to have hundreds of thousands of dollars saved to get started. Traditional banks are usually too slow and rigid for flip projects. That is why most successful investors turn to private lenders like Barnett REI Finance.
Have a potential deal? We will run the numbers with you - no commitment required.
Step 5: Avoid These First-Time Flipper Mistakes
When you’re new, it’s easy to overestimate your skills (or underestimate your budget) Here are some costly pitfalls to steer clear of:
Underestimated renovation time or cost
Not pulling permits when required
Over-improving for the neighborhood
Working with the wrong contractor or lender
Failing to plan your exit strategy
Not having any reserves allocated
The best investors stay disciplined.
Ready to Start Flipping?
If you have been dreaming of flipping a home, it’s now time to take action. The market is competitive, but with the right plan and the right partners, your first flip can be the start of something big.
At Barnett REI Finance, we make real estate investing accessible. We offer fast, flexible funding to help first-time flippers because full-time investors.
Apple now or contact our team to talk through your first deal.