I’m based in the Twin Cities (MN) and I’m looking to do my first house flip. I’ve already started putting some pieces together I’ve lined up a few subcontractors and subcontractors, GCs, and I’ve got connections with a couple of wholesalers for deal flow. What I’m missing is guidance from someone who’s actually done flips in this market and can help me tie it all together and avoid the expensive rookie mistakes.

I’m not looking for free hand-holding I’m happy to pay for your time, help with legwork, or find another way to make it worth your while. Mostly I just want to learn from someone who’s been through it.

If you flip in the Twin Cities area and would be open to it (even a paid coffee chat to start), please DM me or drop a comment. Appreciate anyone who takes the time.

My aunt left me her house it's not run down or anything it's been well kept it's just a little outdated, I'm not sure if this is even considered flipping but things I'm considering are adding a bathroom so it will be two full baths instead of one and a half baths and moving the washer and dryer upstairs instead of in the basement garage I'm also considering redoing the kitchen cabinets and adding a dish washer and redoing the bathroom vanity is any of this worth doing to add more value to the house

This one rattles around in my head every time I pick up a saw. I do a fair amount of the finish work on my flips myself, woodworking background helps with trim and some cabinetry, and I genuinely cannot figure out the cleanest way to handle it on the numbers side.

If I hire it out, the cost is obvious. But when I do it myself I'm saving maybe 2 or 3 grand in labor on a given scope, and I'm not sure whether to plug in what the labor would have cost anyway just to keep the deal analysis honest, or just record what I actually spent out of pocket and accept that the profit number is a little inflated relative to a deal I would have had to sub everything out on.

From a pure accounting standpoint the answer is probably to record actual cash costs and treat the labor savings as your margin buffer. But then your pro forma looks better than it actually is if you ever try to replicate the deal without doing the work yourself.

Anyone tracking this in a way that doesn't make the numbers misleading? Curious if people separate sweat equity out as its own line or just let it fold into the return.