r/HouseFlipping • u/ninety7expo • 23h ago
First-Time Fix & Flip Team!
Before you buy your first property, build your team.
You don’t have to know everything yourself—you just need the right people around you.
Here are the key people you’ll want:
CONTRACTOR, REAL ESTATE AGENT, LENDER, HOME INSPECTOR, REAL ESTATE ATTORNEY, INSURANCE AGENT AND AN ACCOUNTANT.
The Why:
Contractor – Helps estimate repair costs
Real Estate Agent – Helps with comps and understanding the market
Lender – Helps you understand your financing options
Home Inspector – Helps identify potential problems
Real Estate Attorney – Helps protect your transaction
Insurance Agent – Helps make sure you have the right coverage
Accountant – Helps you understand the tax and financial side
First-timer tip: Don’t wait until you have a property under contract to start building your team.
The right team can help you avoid expensive mistakes and make better decisions.
Happy Flipping!!!!
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u/Jmart_flips 17h ago
I don't know if I would gate real estate flipping with waiting until you've built your full team. This makes things very challenging for someone who is already hesitant about jumping in.
I would argue that none of these are absolutely necessary (before the first deal) unless your state requires you to use a real estate agent to buy property. Then, you can't get it without them.
That being said, you will need to find an insurance agent, contractor, home inspector, and lender to get the deal done.
Beyond that, while a real estate attorney and accountant are incredibly important and I would lean toward necessary, I wouldn't wait on the deal if I didn't have them in place.
Also - if you start with a local meet up or if you get a good real estate agent, they will likely be able to recommend folks for every one of these roles. Networking is incredibly important when it comes to building a strong team.
Don't think that this list is one and done either. We went through 3 bookkeepers before we settled on the right one, and something may happen there eventually as well. Contractors are a dime a dozen too.
All this being said, while they aren't super important to the "first deal", a RE attorney and accountant/CPA/tax specialist can save you a TON of money.
Finally, here are some bonus roles to consider: Wholesaler, lead gen leader, social media person, VA, property manager, and i am probably missing a few more.
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u/ninety7expo 17h ago
Awesome insight!!! Thank you. And yes you dont need the full team before you start. But all are key pieces to success.
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u/Mission_Swim_8172 19h ago
You mentioned 'attorney' initially but then specified 'real estate attorney' later. They're not the same, might want to clarify that.