Fix and Flip Checklist: The Complete Process from Deal to Sale

Fix and Flip Checklist: The Complete Process from Deal to Sale

A successful fix and flip requires more than just buying cheap and renovating.

You need deal flow, financing, accurate underwriting, contractor management, and marketing that actually sells houses.

Miss a step, and you're stuck with a property that sits on the market bleeding holding costs.

After 8 years in real estate investment and 4 years of flipping houses personally, I've developed a system that works. This checklist walks through the complete fix-and-flip process from finding deals to resale.

Step 1—Find a Reliable Source for Deals

Your flip business lives or dies on deal flow.

You can't flip houses if you can't find properties with profit margins.

Where to find deals:

Off-market agent relationships. At The von Group, 70-80% of our deals come from agents. We reach out to 2,500 agents per day across Atlanta to generate that flow.

Working with an agent to find off-market deals explains how to build these relationships.

Wholesalers. About 10% of our deals come from wholesalers. But we sort through hundreds of their properties to find the one good deal that actually has solid numbers.

Wholesale real estate deals covers how to evaluate wholesale properties.

MLS. Another 10% come from MLS listings—specifically properties sitting 60+ days with motivated sellers.

How to find fixer upper homes details MLS strategies.

Off-market direct sourcing. Direct mail, driving for dollars, probate, estate sales. These take time and volume but can produce high-margin deals.

How to find investment properties covers 9 proven deal sources.

Partner with The von Group. We do the sourcing work for you. We communicate with 2,500 agents daily, underwrite 30-40 properties daily, and only send deals with real profit margins.

When you work with us, you skip the grind and get vetted deals delivered.

Step 2—Secure Your Financing

Don't look for deals until you know how you're paying for them.

Fix and flips require fast closings. Sellers don't wait 45 days for conventional financing.

Financing options:

Cash. Fastest and cleanest. Closings happen in 14-21 days. No appraisal, no lender delays, no contingencies.

Hard money loans. Based on the property's after-repair value (ARV), not your credit or income. Fund in 14-21 days. Interest rates run 10-14%+, with 2-5 points upfront.

At The von Group, we don't have enough cash yet to do the volume we'd like with straight cash, so we use hard money. We also work with private lenders on certain deals.

When investors work with us, we connect them with the right lender based on their goals—higher LTV, deferred interest, or lower rates for better profit margins.

Hard money loans for fixer uppers explains rates, terms, and how to qualify.

Get pre-approved or have proof of funds ready. Agents and sellers won't take you seriously without financial verification.

Step 3—Find the Deal

Once you have financing lined up, start analyzing properties.

When deals come in from agents, wholesalers, or your sourcing efforts:

Respond immediately. Speed matters.

I lost a deal a few years ago because I wasn't around one weekend. An agent sent me a property in Decatur, but by Monday my coworker—who got the same lead—had already locked it under contract.

That was a paycheck I missed solely because I wasn't able to move quick enough.

This is a numbers game, but it's also a speed game. You can lose a deal because you waited 30 minutes and someone else didn't.

That's why we built a team at The von Group—so speed doesn't cost us deals.

Step 4—Underwrite the Deal

Don't trust seller numbers, wholesaler projections, or agent estimates.

Run your own analysis on every property.

Pull Comps for ARV

Search sold properties in the last 3-6 months within 0.5 miles. Match square footage, bed/bath count, and condition.

Your ARV (after-repair value) is the average of the best 3-5 comps.

Be conservative. Overestimating ARV is the #1 reason investors lose money.

Here's something most investors, almost all wholesalers, and even most agents don't know: a comp 0.2 miles away could be selling for $200k more than your house solely because of the street it's on.

We know this because we actually flip houses. We know the neighborhoods and streets intimately. We know exactly what a house can sell for and the exact finishes that are in high demand in each area.

Estimate Repair Costs

Walk the property. Check foundation, roof, HVAC, plumbing, electrical, and structural elements.

Bring a contractor if possible.

Major systems:

• Foundation: $5,000-$50,000+

• Roof: $8,000-$20,000+

• HVAC: $5,000-$12,000+

• Plumbing (repipe): $4,000-$15,000+

• Electrical (rewire): $5,000-$15,000+

Cosmetic work:

• Kitchens: $8,000-$25,000+

• Bathrooms: $4,000-$10,000+ each

• Flooring: $3-$8/sq ft installed

• Paint: $2,000-$5,000 whole house

• Landscaping: $1,000-$5,000+

Always add 10-15% contingency for surprises.

After 8 years and over 10,000 underwriting experiences, I can analyze a deal in 15-20 minutes. When you start out, expect a full underwrite to take 60+ minutes.

What to look for when buying a fixer upper covers inspection red flags in detail.

Run Complete Profit Analysis

Work backward from ARV:

Start with ARV, then subtract:

• Selling costs (6-7% commissions, or $1,000 + 0.12% with The von Group's guarantee)

• Staging ($2,000-$5,000)

• Closing costs on sale (1-2%)

• Rehab costs (detailed contractor estimates)

• Holding costs (interest, insurance, utilities, taxes for 4-6 months)

• Acquisition closing costs (title, insurance, lender fees)

• Purchase price

What's left is net profit.

Then calculate cash-on-cash return: Net profit ÷ total cash invested = ROI%

Does it meet your criteria? If yes, proceed. If no, pass.

When you work with The von Group, we provide complete estimated breakdowns showing projected ARV, all costs, and estimated net profit.

Step 5—Visit the Property in Person

Never buy sight unseen.

Schedule a showing within 24-48 hours if the numbers work on paper.

What to do during your visit:

Bring a contractor, inspector, or experienced investor.

Check every major system: foundation, roof, HVAC, plumbing, electrical.

Test everything. Turn on faucets, flush toilets, flip breakers, test HVAC.

Take photos and notes. Document everything for your budget.

Look for red flags: foundation cracks, water intrusion, inadequate electrical service, structural damage.

Walk the exterior. Check grading, drainage, siding, and landscaping needs.

If you find major issues you didn't expect, adjust your numbers or walk away.

Step 6—Finalize Your Numbers

After visiting the property, update your underwriting with accurate information.

Plug in actual contractor bids if you got them during the visit.

Verify your ARV with fresh comps.

Recalculate your profit analysis.

Ask yourself:

• Does this still meet my profit criteria?

• Am I comfortable with the scope of work?

• Can I manage this renovation?

• Do I have financing lined up?

If the answer to all of those is yes, move forward.

If not, pass and wait for a better deal.

Step 7—Sign the Purchase and Sale Agreement

When you buy from The von Group or other off-market sources, you complete all due diligence before signing.

There's no inspection period. You commit fully upfront.

Review the contract carefully:

Purchase price, closing date, as-is condition, financing requirements.

Make sure you understand the terms. There's no renegotiating after you sign.

At The von Group, properties are sold as-is for cash or hard money only. Firm closing dates unless title issues arise.

How to buy a fixer upper walks through the complete acquisition process.

Step 8—Submit Your Earnest Money

Once your offer is accepted and the contract is signed, submit your earnest money deposit.

Typically $5,000+ via cashier's check or wire transfer.

This locks in the deal and shows you're committed.

Important: Earnest money is non-refundable in most off-market transactions. Make sure you've done your due diligence before submitting.

At The von Group, you have title contingency protection. Our closing attorney handles title search and clears any issues. If title problems can't be resolved, your deposit is protected.

Step 9—Close on the Property

Closing typically happens 14-21 days after contract signing for cash or hard money deals.

What happens at closing:

Title company or closing attorney reviews title and clears any issues.

You receive closing disclosure 3 days before closing. Review it for errors or unexpected fees.

You wire funds or bring a cashier's check for the full purchase amount (cash buyers) or down payment and closing costs (financed buyers).

You sign documents: purchase agreement, deed, lender documents if financed, title insurance.

Keys transfer. You officially own the property.

Immediately after closing:

Change locks. Secure the property on day one.

Post no trespassing signs to protect against squatters and liability.

Set up utilities in your name.

Step 10—Execute Your Renovation

This is where your profit gets made or lost.

Hire a licensed contractor. Get multiple bids, check references, verify licenses and insurance.

The von Group can help you find a contractor, or we can even do the project for you with our contractor.

Create a detailed scope of work. List every repair and upgrade. Include materials, labor, and timeline.

Set a budget. The average house we sell to our investors needs $75-100k in rehab, though we've done projects as low as $58k and know when to spend more.

Monitor progress regularly. Stay involved. Problems get expensive when ignored.

Pay contractors on milestones, not upfront. Never pay 100% before work is complete.

Our house in Lithonia that sold for $354k? We spent $58k on renovation when everyone told us it would cost $100k.

We knew what finishes were needed and which ones we could skip (like painting windows instead of replacing them).

That neighborhood knowledge saved $40k+ on the renovation.

Step 11—Professional Photos and Staging

Once renovation is complete, don't cheap out on presentation.

We always recommend professional photos and staging. It sells houses much faster and for top dollar.

Real example of what happens when you skip this:

An investor bought a house from us in Lakewood Heights, Atlanta. He did an absolutely beautiful renovation.

He listed with a family member who didn't get professional photos. The first picture made the house look like a fixer upper because of the angle and lighting.

If the first picture doesn't look good, buyers on Zillow scroll right past it.

He should have sold that house in a heartbeat. But due to poor marketing, he spent a ton in interest and had to refi to avoid losing money.

Don't make that mistake.

Professional photos: Hire a real estate photographer. Budget $200-$400. Good photos sell homes faster and for more money.

Staging: Budget $2,000-$5,000 depending on market and property size. Staged homes sell faster and for 5-10% more.

Focus on high-impact rooms: living room, kitchen, master bedroom, and master bath.

The von Group has insane marketing that we do when we sell these houses that literally no other agents do.

That marketing is what sold 5759 Albans Way in Lithonia for $354k in 2 weeks with multiple offers when none of our investors thought it would sell for over $300k.

Step 12—List and Market the Property

Choose your listing agent carefully.

Picking the wrong agent who doesn't have a strong marketing plan costs you in holding costs.

If you purchased through The von Group and your profit is under $20,000, we'll list for $1,000 + 0.12% commission instead of standard 2.5-3%.

We still recommend offering a buyer's agent commission (2.5-3%) for best results.

Set the list price strategically. Price based on current comps, not your costs. Overpricing kills momentum.

Go live on MLS. Your agent uploads photos, description, and details. Property hits Zillow, Realtor.com, and other portals within 24 hours.

Host open houses. First weekend after listing is critical for generating buzz.

Monitor showing activity. If you're getting fewer than 5-10 showings weekly, something's wrong (price, photos, or condition).

Collect feedback. What are buyers and agents saying? If multiple people mention the same issue, address it.

Step 13—Navigate Offers and Negotiate

When offers come in, evaluate carefully.

Review each offer:

• Purchase price

• Contingencies (inspection, appraisal, financing)

• Closing timeline

• Earnest money amount

• Buyer's financing strength

The highest offer isn't always the best. Consider contingencies and closing timeline.

Cash or hard money buyers with no contingencies close faster with less fall-through risk.

Real negotiation tactic we used:

On 5759 Albans Way, we accepted an offer at $354k. We knew that price was high and the appraisal might come in lower.

We leveraged some inspection items the buyer wanted us to fix to get them to waive their appraisal contingency.

When the appraisal came back at $345k, the buyer covered the $9k difference and we closed at $354k.

Our marketing and excellent finishes led to us literally selling a house for more than it was worth—in a market where most listings were sitting and price dropping.

Step 14—Close the Sale

Final walkthrough happens 24-48 hours before closing. Buyer confirms property condition.

Review closing statement. Verify all fees, commissions, and credits are accurate.

Sign closing documents. Deed transfer, settlement statement, lien releases.

Receive proceeds. Funds wire to your account within 24-48 hours of closing.

Calculate actual profit. Compare to your initial estimate. Did you hit your numbers?

Analyze what worked and what didn't. Every flip teaches you something. Apply lessons to the next deal.

The Biggest Mistakes That Kill Flips

Mistake 1: Underestimating repairs. Always add 10-15% contingency. Surprises happen.

Mistake 2: Overestimating ARV. Use recent comps in similar condition. Be conservative.

Mistake 3: Taking too long. Every extra month costs you in interest and holding costs. Budget realistic timelines.

Mistake 4: Bad marketing. Poor photos and no staging make houses sit. Professional presentation sells faster and for more.

Mistake 5: Wrong contractor. Low bids often mean cut corners or delays. Hire based on reputation and reliability.

Mistake 6: No systems for speed. Deals go to whoever moves fastest. Build processes or work with someone who has them.

Why Work with The von Group

We handle multiple steps in this checklist for you:

Deal sourcing. We reach 2,500 agents daily and underwrite 30-40 properties daily. You get vetted deals with solid margins.

Financing connections. We connect you with lenders who offer higher LTV, deferred interest, or lower rates based on your goals.

Contractor help. We can help you find contractors or do the project with our contractor.

Marketing that sells. We have insane marketing that literally no other agents do. Our track record proves it works.

$20,000 profit guarantee. If your flip profit falls below $20,000, we list for $1,000 + 0.12% commission.

Real investor experience. We're not just wholesalers or agents. We flip houses ourselves. We know what works.

When you work with us, you're tapping into 8 years of real estate investment experience, 4 years of personal flipping, and over 10,000 underwriting experiences.

We know that a comp 0.2 miles away can be $200k different based on the street. We know the exact finishes that sell in each Atlanta neighborhood.

Most investors, almost all wholesalers, and even most agents don't have this knowledge.

Ready to Start Your Next Flip?

The von Group provides vetted off-market properties with transparent profit breakdowns. We've closed 150+ deals since 2024.

First-come, first-served pricing. No bidding wars. Fast closings.

Get access to flip-ready properties here.

Need financing? Check our financing resources to connect with hard money lenders.