Flipping houses in Charlotte looks easy on TV. Buy a distressed property. Renovate it in six weeks. Sell it for a big profit. Repeat.
In reality, house flipping is a business. And like any business, it requires planning, discipline, and an understanding of the numbers. We’ve worked on dozens of flip projects in Charlotte, and we’ve seen investors make the same mistakes over and over again.
Common Flipping Mistakes
1. Underestimating Costs
Investors guess at renovation costs, then get hit with reality. Get a detailed estimate from a contractor before you buy.
2. Overbuilding for the Neighborhood
You put high-end finishes in a mid-range neighborhood and kill your margin. Know your comps and match the market.
3. Underestimating Timeline
Delays happen. Permits, materials, weather. Build a buffer into your timeline and don’t assume a six-week flip.
4. Skipping Permits
It’s tempting, but it’s a bad idea. If the city finds out, you could face fines and tear-out orders. Pull permits.
5. Choosing the Wrong Finishes
Stick with timeless, neutral finishes that appeal to the widest range of buyers. White cabinets, quartz, LVP flooring.
6. Ignoring Curb Appeal
Buyers judge a house in the first 10 seconds. Budget for exterior paint, landscaping, and a new front door.
The Bottom Line
Flipping houses in Charlotte can be profitable if you treat it like a business. Know your numbers. Don’t cut corners. And work with contractors who understand ROI.