You’ve found the deal. You’ve analyzed it. You’ve secured funding.
Now comes the most important part of the journey: executing the plan.
In this Flip & Hold Friday post, we’re diving into what happens after the closing table—when the real work begins.
Step 1: Prep Before You Swing a Hammer
By this stage, you should already have:
- Contractors lined up and contracts signed
- Rental budgets finalized
- Permit applications submitted
- Subcontractor insurance verified (both comp and liability)
If you’re waiting for permits to clear, don’t just sit around—use this time wisely. Tackle any work that doesn’t require a permit, such as:
- Cleanouts
- Demolition
- Finalizing material orders
Pro tip: Order materials early so they’re on site or en route before work begins. Avoid supply chain delays that can kill your timeline.
Step 2: Work from the Top Down
Once the green light is given, start with:
- Cleanup & Demo
- Roofing, siding, windows, and other exterior work
- Framing
Only then should you move to interior finish work.
⚠Don’t start painting if the floors, cabinets, rough plumbing, or electrical work still need attention.
Follow all best practices, building codes, and proper construction processes. And yes—keep your building permits visible to avoid work stoppages or “bad boy visits” from inspectors.
Step 3: Manage Your Subs Like a Pro
Stay in close contact with subcontractors.
- Have a backup plan in case someone goes AWOL.
- Write contracts with monetary penalties for no-shows.
- Address hiccups immediately to avoid wasted time and money.
Always stay one step ahead. Coordinate the next trade before the current one finishes to keep the project moving without downtime.
Step 4: Keep the Money Flowing
If your project includes a rental draw component, work closely with Flip & Hold Funding to:
- Keep subs paid
- Keep morale high
- Prevent delays due to cash flow issues
Step 5: Get Ready to Sell or Rent
When nearing completion:
- Start talking to Realtors about listing.
- Stage the property if it’s for sale. This is non-negotiable—it always pays off.
- For rentals, find strong tenants quickly. A cash-flowing property strengthens your refinance position with the bank.
Step 6: Price It Right
Use realistic comps.
- It’s often better to list slightly low and create a bidding war.
- If it’s not selling, you have either a condition problem or a pricing problem—fix it fast.
Remember: every day on the market costs you money.
Bottom line: Flipping or holding successfully comes down to planning ahead, staying organized, and executing relentlessly.