If you are wondering how many flips you should have going at the same time, the correct answer lies within your experience, and your ability to anticipate and solve the many problems that can arise. Flipping houses is not a risk-free operation, by any means. While strict observation of tried-and-proven guidelines can help your success rate, that rate will vary from person to person based on the skills that you have developed, and the way that you apply them.

Let's get specific. What are three examples of how your personal style can affect how many properties you can flip at the same time.

Are you established in business with a long list of professional associates who are familiar with your expertise? Even if you are a laborer, if you have the respect of your fellow workers, then it is likely that you know who to call, and who not to call when it comes to solving problems like leaky pipes and roofs. You also have an idea of associated costs and procedures for fixing common construction problems. And you know which problems are common, and which problems are not common.

Have you made a few real estate deals other than your own? If you have some contacts with a hard money lender or a bank, then hopefully you know who is going to give you a decent interest rate. You also have an idea of who will take special circumstances into account without compromising ethical questions. You know when extra cash is necessary, and when it can make a difference in a purchase price or a payment amount. Or you know who to ask.

How good are you at evaluating and developing your own skills? How good are you at choosing who to trust in quick decisions that can make a difference in whether or not a contract is signed? Do they trust you as well?

Flipping a house is a question of finding a house that can sell for more than you pay for it. If you have never built a house, or never helped build one, then you might want to take one house at a time. In order to get a reputation for offering well-evaluated properties, you will have to learn which repairs are cosmetic versus which repairs are deep and dangerous.

The more that you already know about financing and taxes and credit ratings, the easier it will be to separate the serious buyers from the wishful thinkers. If you see a good market approaching, then you will want to hit the highs for your sell, and you will want to be able to make a few confident purchases during the slower periods. Don't over-estimate your ability to do this, or you may end up with a big inventory over a long period of time, which can eat up your cash flow. If you don't know, then interact with people who do. You want to have a large amount of flips active during a hot housing price swell, but you have to be able to maintain a good reputation during the dry periods as well. Offering the right products to the right customers is a delicate balance that is acquired carefully. Don't get careless at the wrong time.

Are you in a position to allocate tasks? Even if you are the most skilled roofer in town, you can't do it all if you have multiple leaky houses. Do you have contacts that can work with you, and do you have their confidence and trust to be able to deliver time after time to produce a good result for a housing customer?

If you can spot the properties, accurately estimate the associated costs, produce the necessary changes while maintaining competent relationships, and then assemble the correct buyers and sellers, then get as many flips going as you can.

On the website, House Flipping HQ, Ginger Macias answered the following question in a short and sweet format:

What is the one thing you wish you had known about house flipping or wholesaling when you first started?

I wish I would have partnered with other people sooner.

Contact us for advice on establishing great relationships.