Page 33 - From Ghetto to Gucci: The Basic Principles of Flipping Houses

The Repair Worksheet

Now, you’re ready to look over your repair worksheet. The repair worksheet is a checklist that
you should take with you whenever you look at a potential flip. Going through the house should
give you a good idea of what you’re going to have to fix, which you can then get a price on from
the contractor. This repair worksheet is simply a checklist for you to decide whether repairs are
needed or not for each of the items. You can also use this item to track the progress of the flip.

Take a look at the worksheet. We’ll go over the items here again, and try to specify what we’re
looking for in each one.
● Paint/Stucco. This is an easy one. Almost every single house you flip will need a new
stucco or paint job, inside and out. Brick houses are usually the only houses exempt
from external refinishing.
● Siding. Is there any siding that needs replaced?
● Pests
● Smell
● Water heater: good quality? No rust? Water is hot?
● HVAC: operates well? All vents and joists are closed? No odor? Ducting OK?
● Insulation: is there evidence? Is it sufficient? Will it need to be upgraded?
● Drainage: away from house
● Septic tank or city water? Look for water around tank
● Doors: trouble opening or closing, can mean house settling
● Foundation. Will any part of the foundation need replaced?
● Dry Rot. Are there any miscellaneous items that have dry rot and need to be replaced?
● Light switches: do they work properly?
● Working exhaust vent for kitchen?
● Light fixtures. Will they stay or do you need to get new ones?
● Electrical. Will you have to upgrade the electrical paneling? In the exposed wiring, does
it look good or poor quality? Are there any open electrical splices? GFCI near sinks?
● Roofing. Does the roof need patched or replaced?
● Plumbing. Are there any leaks or mysterious water on the floor? No leaks near sinks,
dishwasher, washer?
● Damage. Are there any miscellaneous damaged items that need replaced?
● Landscaping. Are you going to need to put in turf or new shrubbery? You might also look
into mulch. 99% of flips are going to look better with new turf in the front yard.
● Driveway and sidewalks. Are you going to have to pour new concrete, or will the existing
walks do fine? You can also use gravel for the driveway.

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