Quentin Trisler shares hard-won fix and flip lessons from years of flipping properties in Pittsburgh — what works, what doesn’t, and what most people get wrong.
I’m not going to sugarcoat it — flipping houses is not as easy as it looks on TV. I’ve been doing this for nearly two decades in the Pittsburgh market and I’ve had deals that knocked it out of the park and deals that humbled me fast. Here’s what I’ve actually learned along the way.
The money is made at the purchase, not the sale.
I can’t stress this enough. If you overpay for a property hoping the market will bail you out, you’re gambling — not investing. The profit on a flip is locked in the moment you negotiate the purchase price. Everything after that is execution.
Your rehab budget will be wrong. Plan for it.
No matter how thorough your due diligence is, surprises happen. I always build a contingency of at least 10-15% into every rehab budget. Older Pittsburgh housing stock especially — you open up a wall and you never know what you’re going to find.
Speed is money.
Every month a flip sits unsold is another month of carrying costs eating your margin. That means mortgage payments, taxes, insurance, and utilities all working against you. A fast, efficient rehab followed by smart pricing beats a slow, perfect renovation every single time.
Don’t over-improve for the neighborhood.
This is one of the most common mistakes I see new investors make. Installing high-end finishes in a neighborhood where buyers aren’t paying for them is a great way to leave money on the table. Know your market, know your buyer, and renovate accordingly.
Have your buyer in mind before you buy.
Who is going to purchase this property when you’re done? A first-time buyer? An investor? A growing family? That answer should shape every decision you make from the purchase through the renovation.
Flipping is one of the most rewarding things I do in real estate when the fundamentals are right. If you’re thinking about your first flip or you’re an experienced investor looking for a second set of eyes on a deal, I’d love to connect.