Flipping houses can be one of the most exciting ways to turn your real estate skills into great profits.
But writing a business plan often feels like a big, intimidating task, especially when you’re new to this game. And it wasn’t any different for Char Lehew, now a successful house flipper in North Carolina.
Recently, I spoke with Char Lehew about her journey, i.e., how she stayed organized and navigated the challenges of the real estate market.
We’ve compiled our conversation into this house flipping business plan guide.
Refer to this guide for some help and inspiration.
Why do you need a house flipping business plan?
A house flipping business plan is more than a professional document—it serves as a strategic roadmap to turn your unique business concept into a profitable reality. Here’s why you need a house flipping plan:
- Helps you clarify your goals, whether it’s flipping one house or scaling up to multiple properties.
- Attracts potential investors or lenders and demonstrates that you have a clear vision and strategy.
- Lets you identify potential risks and challenges beforehand and develop effective strategies to mitigate them.
- Serves as a reference point that helps track your progress and measure success while refining the approach over time.
All in all, it’s an important tool to guide your house flipping venture and make it a success.
How to write a house flipping business plan?
Writing a strong house flipping business plan involves several key sections and elements to articulate your vision, goals, and strategies in a clear, visually appealing manner.
Here’s a step-by-step guide:
1. Executive summary
An executive summary is basically the elevator pitch for your entire house flipping business plan. It provides a brief overview of what your house flipping business is all about and what makes it unique.
Even though it’s the first section of your plan, it’s best to write it last. Once you’ve nailed down all the other sections, summarizing everything here will feel like a breeze.
Here’s what to include in your plan summary:
- Name of your house-flipping company and location
- Key founders or partners
- Business purpose and goals
- Market opportunity
- Unique selling propositions
- Financial projections highlight
Remember, the primary goal of your executive summary is to capture the readers’ or potential investors' interest and make a strong first impression.
And you know what they say—first impressions always matter. Hence, keep this section short, simple, and engaging to highlight the essence of your house flipping business.
“When I sat down to write my first executive summary, I honestly didn’t know where to start.
I kept trying to include everything—my strategy, market insights, financial plans. But I quickly realized the executive summary isn’t the place to dive into every detail—I needed to keep it concise.
So, I focused on the big stuff: my experience in the real estate industry, the successful house flips I’ve already done, and how my process reduces risks and maximizes profits.
Once I stopped overthinking and saved the nitty-gritty details for the rest of the plan, everything came together much easier."—Char Lehew
2. Company description
Well, this section is all about who you are and what your business does. So, give readers a detailed explanation of your house flipping business.
While planning this section, consider discussing these points:
- Your business concept and vision
- Type of house flipping company you own (single-family or multi-unit)
- Legal structure (limited liability company or partnership)
- Mission statement
- Background story
- Achievements till today (if any)
In addition to that, clearly jot down the regulatory requirements and legal compliances related to the house flipping businesses as well as showcase how you’ll meet them.
In short, this section is a complete snapshot of your company, which helps you build trust in what you offer. So, keep it interesting and to the point.
“I thought the business overview would just explain what I do—buy, renovate, and sell houses. But I realized it also needed to answer the 'why' and show what makes my approach unique.
The real struggle was deciding how much of my story to include. I wanted to keep it personal—like sharing why I got into flipping houses—but not make it feel too casual.
I ended up including how I started in real estate and developed my skills in project management, which helps me stay on top of budgets and timelines.”—Char Lehew
3. Industry analysis and market research
If you want to flip houses carefully and set a strong foundation for your business, conduct comprehensive market research. This will let you know the house flipping and even the real estate market inside-out.
Additionally, it shows potential funders that you’ve done your homework and developed a robust strategy to position your business effectively within the local real estate market.
To make this section more impactful, you should cover these key elements:
- House flipping industry size
- Target market
- Potential clients and their needs
- Emerging market trends
- Key competitors (i.e., other house flipping businesses)
Overall, understanding your target market isn’t just helpful. But it’s the key to making informed decisions while identifying profitable properties, attracting the right buyers, and staying ahead of the competition.
“At first, I didn’t dive deep enough into market research, and it showed—I was missing some key details that could’ve made a big difference.
But finding reliable data wasn’t as easy as I thought. Online tools were a good start, but they didn’t always give me the full picture.
I finally tried reaching out to local real estate agents and checking city development plans to understand which areas were growing and where property values were likely to rise.”—Char Lehew
4. Services offered
Now, focus on highlighting your house flipping services. Be clear about what your business actually does and how you deliver value to your clients, buyers, as well as investors.
Begin by the specific services your house flipping business intends to offer. You may enclose a range of activities aimed at buying, renovating, or selling properties for a profit. Here's an illustration of how you can craft this section:
| Service | Description | Value Provided |
|---|---|---|
| Property Acquisition |
Evaluate properties for flipping potential |
Ensures the best return on investment (ROI) Minimizes acquisition costs |
| Renovation and Remodeling | Handle structural repairs (roof, plumbing, foundation) Design modern, market-trending interiors |
Increases property value Attracts potential buyers Ensures compliance with safety and building regulations |
| Marketing and Staging | Create high-quality photography and virtual tours Execute marketing campaigns on MLS, social media, and real estate platforms |
Improves visibility to buyers Creates an emotional connection with potential buyers Speeds up the sales process |
| Sales and Closing | Collaborate with real estate agents to find buyers Negotiate and manage closing processes |
Maximizes sales profits Streamlines the selling process Reduces time on the market |
If applicable, detail additional services like design consultation services, financing assistance to buyers, and property management for unsold/rental properties.
Lastly, don’t forget to communicate your pricing strategy that clearly showcases what you charge for your services.
“The hardest part was defining my approach in a way that set me apart from other house flippers. I didn’t want it to sound generic, so I focused on the details that make my work unique.
I highlighted how I specialize in finding undervalued homes in up-and-coming neighborhoods and designing renovations that speak to modern buyers.
I also made it clear that I prioritize quality over cutting corners, which helps the homes I flip sell faster and for higher prices.”—Char Lehew
5. Marketing and sales strategies
Buying and renovating a house is just the start—you also need a solid plan to find buyers for your flipped properties and sell them.
Here’s what you may enclose in this section:
- Marketing channels: Use online listings, social media ads, local real estate agents, and word-of-mouth to showcase your properties.
- Sales strategies: Highlight unique features of the home, competitive pricing plan, open houses, as well as partnerships with real estate agents.
- Staging and photography: Invest in great staging and professional photos to attract buyers.
Remember, this section clearly describes the methods and approaches you’ll use to attract new customers and retain existing clients. So, be ready to adapt or make strategic changes in these strategies based on feedback and results.
“The biggest challenge for me was figuring out how to market in a way that highlighted the value of my homes.
I didn’t want my properties to come across as quick flips; I wanted buyers to see them as high-quality, thoughtfully renovated homes worth every penny. To do that, I focused on professional photography and staging.
Eye-catching photos helped my listings stand out online, and staging made buyers feel like they could see themselves living in the space.”—Char Lehew
6. Operations plan
Next, give a detailed description of your house flipping company's day-to-day activities and processes centered on achieving key goals and objectives.
A well-crafted operations plan will show readers how you’ll manage the operational intricacies of your fix and flip houses. So, try to detail all your operational aspects, such as:
- Property acquisition process
- Renovation workflow
- Tools and technology used
- Client service policies
- Staffing needs (if any)
By detailing these aspects, you show potential investors or partners how you will actually manage or run your bakery on a daily or weekly basis.
“Flipping one house is manageable, but if you’re juggling multiple properties, things can fall apart quickly without a solid process.
I had to think through everything—how I’d schedule inspections, secure permits, hire contractors, and manage timelines.
To stay organized, I created a workflow for each property, from acquisition to final sale, with clear milestones and deadlines. That gave me a roadmap to follow and helped me keep things on track.”—Char Lehew
7. Management team
As the name indicates, this section sheds light on the management team members responsible for the ultimate success of your house flipping business.
Even if it’s just you handling the business, this section is important as it shows potential backers that you have relevant experience and skills to operate in the house flipping industry.
If you have a small team of house flippers, contractors, project managers, or marketing experts, introduce them as well. Mention their responsibilities, educational qualifications, skills, as well as work experience.
If required, add an organizational chart to show roles and responsibilities clearly. Something like this:
Moreover, you can highlight the external board members such as real estate attorneys, advisors, or collaborators in this section. And discuss how they’ll support your flipping business.
“It was tricky to balance showcasing my own skills while also giving credit to the people who help me succeed.
For example, I emphasized my background in real estate—how I’ve spent years analyzing markets, managing budgets, and coordinating renovations.
But I also included details about the trusted contractors, designers, and inspectors I work with regularly.
Even though they aren’t full-time employees, they’re key players in every project, and mentioning their roles added credibility to my plan.”—Char Lehew
7. Financial plan
Your financial plan is a comprehensive breakdown of how your house flipping business will make money, turn a profit, and manage potential risks.
This section not only helps you attract investors and secure loans. But it also lets you evaluate the financial viability and sustainability of your business, making it one of the most critical sections of your plan.
So, try to cover all your business’s financial projections for the next few (3-5) years, including:
- Income statement (profit and loss statement)
- Balance sheet
- Cash flow statement
- Break-even analysis
In addition to that, calculate your initial business startup costs, revenue projections, and operating expenses as well as estimate total funding needs and resources.
Plus, address potential financial risks and develop a risk management plan to demonstrate you’re prepared for challenges.
“Flipping houses isn’t just about the purchase price and renovation budget—there are so many hidden costs. Things like property taxes, utilities, insurance, closing fees, agent commissions, and even marketing can really add up.
The first time I ran the numbers, I realized I’d underestimated a lot of these, which would have wiped out my profits.
To stay on top of it, I started using a detailed spreadsheet to track every expense and figure out exactly how much I needed to make each flip worthwhile.”—Char Lehew
Download free house flipping business plan template
So, are you all set to build a house flipping business plan from scratch? But need more assistance with that? Well, look no further. Here, you can download our free house flipping business plan template in PDF to head start.
This well-crafted business plan template has already helped thousands of house flippers or real estate agents get started, and I hope it does to you as well. With its real-life example and insights, you can easily create your own business plan that covers all the details.
Conclusion
After exploring this guide, you’ve now got a clear idea of how to write a successful house flipping business plan and navigate challenges effectively.
However, if you’re feeling stuck or need some expert-level guidance, don’t hesitate to reach out to our best business plan consultants at PlanGrowLab. Our team of professionals will offer a range of services, like writing, reviewing, and consulting, to meet your specific requirements.
So, wait no longer; connect with us today!
Frequently Asked Questions
What financing options are available for my flipping business?
There are several financing options available for your house flipping business, including:
- Personal savings
- Traditional bank loans
- Private investors or real estate investors
- Home Equity Loans or HELOCs
- Hard money lenders
Crowdfunding platforms like GoFundMe or Kickstarter
Can I use my house flipping business plan to attract investors?
Of course! A well-prepared house flipping business plan is a helpful tool to attract investors. It shows them you’re serious about your business and have a solid plan to make it thrive.
Plus, it highlights your market research, flipping strategy, risk management plan, financial projections, as well as potential profitability over time. This will make them more likely to trust you with their funds.
What are the key elements of a house flipping business plan?
The following are the key elements of a house flipping business plan:
- Executive summary
- House flipping company overview
- Market analysis
- House flipping services
- Sales and marketing plan
- Management team
- Operational details
- Financial projections
How often should I review my house flipping business plan?
It’s recommended to review your house flipping plan at least once a year or more often. If you scale your flipping services or there are significant changes in the house flipping industry, be sure to update your plan.
This will help you stay updated and adapt to new opportunities while tracking your goals. Think of it as a living document that grows with your business.
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