The goal of a flip is to minimize the "holding time." The longer you own the property, the more your profits are eaten away by taxes, insurance, utilities, and interest payments (often called ). 2. The Golden Rule: The 70% Formula

Finding "distressed" properties—houses that are physically run-down, in foreclosure, or owned by sellers needing a quick exit.

Doing work yourself saves money, but professional finishes sell houses. Poor DIY work can actually decrease a home’s value.