Am I Ready for My First Flip?

🏠 Am I Ready for My First Flip?

Answer 10 honest questions and find out if you are truly ready to do your first fix-and-flip — or what you need to work on first.

1. Do you know what ARV means and how to calculate it?

2. Do you know the 70% rule?

3. Do you have access to financing for your first deal?

4. Do you have a reliable contractor you trust?

5. Do you have a cash reserve beyond your deal budget?

6. Have you researched your target Philadelphia neighborhood?

7. Can you emotionally handle losing money on your first deal?

8. Do you understand Philadelphia’s permit and inspection process?

9. Have you run the numbers on at least 5 practice deals?

10. Do you have a real estate attorney or title company you trust?

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