Flipping a wholesale property can be an exciting and profitable venture, but it doesn’t happen overnight. The timeline for flipping depends on several factors, including the property’s condition, the extent of renovations, and market conditions. If you’re an investor looking to maximize efficiency and profits, understanding the time commitment is essential.
In this article, we’ll break down the key stages of flipping a wholesale property and what you can expect at each step.
1. Finding the Right Wholesale Deal (1-4 Weeks)
The first step in any flip is finding a great deal. Working with a wholesaler like SLG Property Deals can streamline this process, as we provide discounted off-market properties directly to investors. Typically, it takes anywhere from a few days to a few weeks to locate and secure the right property.
2. Closing the Deal (2-4 Weeks)
Once you’ve identified a property, the closing process begins. Since wholesale properties are often purchased with cash or hard money loans, closings tend to be faster than traditional home sales. Still, title searches, legal paperwork, and financing can take anywhere from two to four weeks.
3. Renovation & Repairs (4-12 Weeks)
This is where the real work begins. The length of the renovation phase depends on the scope of work:
- Light cosmetic updates (4-6 weeks): Minor repairs like painting, flooring, and kitchen/bathroom updates.
- Moderate renovations (6-10 weeks): Structural repairs, electrical/plumbing updates, or layout changes.
- Full gut renovations (10-12+ weeks): Major remodels or complete overhauls, often necessary for distressed properties.
Working with an experienced contractor can help keep your project on track. Delays due to permits, inspections, or supply chain issues can extend this phase.
4. Listing & Selling the Property (4-8 Weeks)
Once renovations are complete, it’s time to list the property. The speed of the sale depends on market conditions:
- Hot market: Homes sell in weeks or even days.
- Balanced market: Expect 30-60 days for a sale.
- Slow market: Homes may sit for months, requiring price adjustments or additional marketing.
Proper pricing, staging, and a strong marketing strategy can help sell your flip faster.
5. Closing on the Sale (3-6 Weeks)
After accepting an offer, closing can take an additional three to six weeks. Buyers using financing may need more time to finalize mortgage approval, while cash buyers can close much faster.
Total Time to Flip a Wholesale Property: 3-6+ Months
On average, a wholesale property flip takes anywhere from three to six months, though timelines can vary based on the project. The key to a successful flip is efficiency—acting fast when finding deals, managing renovations effectively, and pricing the property competitively.
Get Access to Wholesale Deals Today
At SLG Property Deals, we specialize in sourcing off-market properties that offer high profit potential for flippers. If you’re looking for your next investment opportunity, contact us today and get exclusive access to discounted properties before they hit the market!