The 3 Things I Wish I Knew Before My First Flip

 Everybody remembers their first flip.
The nerves. The excitement. The smell of demo dust in the air.

And if we’re being honest… the mistakes.

Flipping houses may not build long-term wealth on its own, but it’s one of the best ways to create quick cash and gain experience—a crash course in decision-making, budgeting, and staying calm when the HVAC guy ghosts you for two weeks.

Looking back, here are the 3 things I wish I knew before my first flip.

1. Your Profit Is Made When You Buy, Not When You Sell

Big rookie mistake? Falling in love with the “after picture” before running the “before math.”

If you overpay up front, no amount of shiplap, subway tile, or trendy paint colors will save your profit. The 70% Rule exists for a reason:

Never pay more than 70% of the After Repair Value (ARV), minus repair costs.

I didn’t follow it on my first flip. And it showed.

Lesson learned: Be disciplined with your buy box. Your future profit depends on it.

2. Contractors Can Make or Break You

On my first flip, I assumed the first contractor who returned my call was “the guy.” Spoiler: he wasn’t.

Good contractors are worth gold. Bad ones? They’ll eat your budget, your timeline, and your sanity.

What I wish I knew then:

• Always get multiple bids.

• Always have a clear, written scope of work.

• And never—ever—pay 50% upfront.

Mentorship would’ve saved me thousands here. A seasoned flipper could’ve pointed out every red flag I ignored.

3. Holding Costs Add Up Faster Than You Think

Mortgage payments. Utilities. Insurance. Lawn care. Property taxes.

Every month your flip sits unsold, your profit shrinks. On my first flip, I didn’t build in enough buffer for delays. By the time it sold, I was staring at a much thinner check than I had planned.

The truth? Time really is money in flipping. Always assume it’ll take longer than you think—and budget accordingly.

The Bottom Line

Flipping is one of the most exciting ways to invest in real estate—but it’s not a solo sport. You’ll save yourself money, stress, and years of trial and error by learning from someone who’s been there before.

That’s exactly why we created the Navigator Mentorship Program. Instead of going at it alone, you’ll have experienced mentors walking you through your first flip step by step—helping you buy right, manage contractors, and keep your profit intact.

👉 Learn more and apply here: Navigator Mentorship Program 

Dad Joke Bonus

Why don’t skeletons ever go trick or treating?
Because they don’t have the guts.