Fix-and-Flip Execution: From Demo Day to Listing Day

Most flip courses teach you how to find deals. Almost none teach you what happens after you close. This course fills that gap. We start with the scope of work because it controls everything: your budget, your timeline, and your contractor relationships.

A scope of work (SOW) is a line-by-line document that describes every single task your contractor will perform. Not "renovate kitchen." That is useless. Instead:

- Demo existing cabinets and countertops. Haul debris to dumpster. - Install 30 linear feet of shaker-style cabinets, white, soft-close hinges. - Install quartz countertops, 40 sqft, including cutout for undermount sink. - Install undermount stainless steel sink with brushed nickel faucet. - Install tile backsplash, 20 sqft, subway pattern, white.

That level of detail does three things. First, you get accurate bids. When three contractors bid the same detailed SOW, you can compare apples to apples. "Renovate kitchen" gets you three wildly different numbers because each contractor imagines different materials and finishes.

Second, it prevents change orders. Change orders are profit killers. The contractor says "you did not specify subway tile, I assumed mosaic, that is an extra $1,200." A detailed SOW eliminates those arguments.

Third, it protects you legally. If a contractor does not complete a line item, you have documentation. No ambiguity.

Here is how to write one. Walk the property room by room. For each room, list:

1. Demo work (what gets removed) 2. Structural work (framing, subfloor, load-bearing changes) 3. Rough work (plumbing, electrical, HVAC) 4. Finish work (drywall, paint, trim, flooring, fixtures)

For a typical 3/2 flip, your SOW should be 40 to 80 line items. That sounds like a lot. It takes 2 to 3 hours to write. But it saves you 20 to 30 hours of arguing with contractors later, plus thousands in change orders.

Common categories and typical costs for a mid-range flip:

Kitchen: $10,000 to $18,000 Bathrooms (each): $4,000 to $8,000 Flooring (whole house): $4,000 to $8,000 Paint (interior + exterior): $3,000 to $6,000 HVAC: $3,000 to $7,000 Roof: $5,000 to $12,000 Landscaping: $1,500 to $4,000

Total for a cosmetic flip: $25,000 to $45,000 Total for a full gut rehab: $60,000 to $120,000

The SOW is your budget. If you cannot write it, you are not ready to flip.

You have two options for getting rehab work done. Hire a general contractor (GC) who manages everything, or manage individual subcontractors (subs) yourself. Both work. Both have tradeoffs.

Option 1: General Contractor

A GC handles scheduling, material ordering, sub management, inspections, and quality control. You hand them the scope of work. They hand you a bid. You write checks as milestones get completed.

Pros: - You save 10 to 20 hours per week during rehab - One point of contact for all problems - GC carries liability insurance and handles permits - Better for complex projects (structural, additions, gut rehabs)

Cons: - GC markup is 15% to 25% on top of sub costs - On a $50,000 rehab, you pay $57,500 to $62,500 - You have less control over individual sub quality - Your timeline depends on one person

Option 2: Self-Managing Subs

You hire each trade directly. Plumber. Electrician. Drywall crew. Painter. Flooring installer. You schedule them, order materials, and handle inspections.

Pros: - Save the 15-25% GC markup. On a $50,000 rehab, that is $7,500 to $12,500 in savings. - Direct relationships with each trade - More control over quality and timelines - You learn the business faster

Cons: - Scheduling is a full-time job. If the plumber is 3 days late, the drywall crew cannot start, which pushes the painter back a week. - You need to know building codes and inspection requirements - You carry more liability risk - Mistakes are your problem

Here is the decision framework:

Use a GC when: - It is your first or second flip - The project involves structural work, additions, or permitting - You have a full-time job and cannot be on-site daily - The rehab budget is over $75,000

Manage subs when: - You have completed 3 or more flips - The project is cosmetic (paint, flooring, kitchen, bath) - You can be on-site 3 to 5 times per week - You have a reliable crew of subs you have used before

Either way, never pay a contractor more than 30% upfront. The standard draw schedule is:

- 10% at signing (mobilization deposit) - 25% at rough-in completion - 25% at drywall completion - 25% at finish completion - 15% at final walkthrough and punch list completion

That last 15% is your insurance. It guarantees the contractor finishes the punch list. If you pay 100% before the job is done, you lose all your negotiating power. This is the number one mistake new flippers make with contractors.

FlipMantis handles the three things that kill flips: budget overruns, timeline slippage, and disorganized contractor communication. Here is how to use each tool.

Contractor Portal: Setting up your team

Add each contractor or sub to your project. Enter their trade, contact info, insurance expiration, and license number. The portal gives each contractor a login where they can view their scope, submit draw requests, and upload progress photos. No more texting photos back and forth or losing receipts in email threads.

For each contractor, set their draw schedule milestones. When your plumber finishes rough-in, they submit a draw request through the portal. You review the photos, verify the work, and approve the payment. Everything is documented.

Rehab Estimator: Budget vs. actual

Your scope of work lives in the Rehab Estimator. Each line item has a budgeted amount and an actual amount. As you approve draws and pay invoices, the actual column fills in.

Example: - Kitchen cabinets: Budget $6,500 / Actual $6,800 (over by $300) - Bathroom tile: Budget $3,200 / Actual $2,900 (under by $300) - HVAC: Budget $5,500 / Actual $5,500 (on budget)

The dashboard shows your total budget, total spent, remaining budget, and percentage complete. If you are 60% through the project but have spent 75% of the budget, that is a red flag you can catch early.

Pipeline: Tracking flip stages

Your deal moves through the pipeline as the project progresses. The stages map to actual flip milestones:

1. Under Contract: closing paperwork in progress 2. Demo: tear-out phase 3. Rough-In: plumbing, electrical, HVAC 4. Inspections: city inspections for rough work 5. Finish Work: drywall, paint, flooring, fixtures 6. Staging: furniture and photography 7. Listed: on the MLS 8. Under Contract (sale): buyer has offered 9. Closed: funds disbursed

Each stage transition gets logged with a date stamp. At the end of the project, you can see exactly how long each phase took. That data helps you estimate timelines on your next flip.

The goal is simple. No spreadsheets, no guessing, no surprises. Every dollar tracked. Every milestone documented. Every contractor accountable.

Time is the silent killer of flip profits. Every month you hold a property costs $1,500 to $3,000 in mortgage, insurance, utilities, and taxes. A flip that takes 6 months instead of 3 costs you $4,500 to $9,000 in extra holding costs. That comes straight out of your profit.

Here is a realistic 90-day timeline for a cosmetic-to-moderate flip:

Week 1-2: Closing and mobilization - Close on the property (Day 1) - Contractor walkthrough and final SOW review (Day 2-3) - Permits pulled if needed (Day 3-7) - Dumpster delivered, demo begins (Day 5-7) - Draw 1: 10% mobilization deposit at signing

Week 2-4: Rough-in phase - Demo complete (Day 10-12) - Plumbing rough-in (Day 12-16) - Electrical rough-in (Day 14-18) - HVAC rough-in (Day 16-20) - Framing changes if any (Day 12-18) - City rough-in inspection (Day 22-25) - Draw 2: 25% at rough-in completion and inspection pass

Week 4-6: Drywall and prep - Insulation (Day 25-27) - Drywall hang, tape, mud, sand (Day 27-35) - Primer coat (Day 36-38) - Draw 3: 25% at drywall completion

Week 6-10: Finish work - Cabinets and countertops (Day 38-45) - Tile work (Day 40-48) - Flooring installation (Day 45-52) - Paint (2 coats, Day 48-55) - Fixture installation (Day 52-58) - Trim and doors (Day 55-62) - Final plumbing and electrical connections (Day 58-64) - Draw 4: 25% at finish completion

Week 10-11: Punch list and prep - Final walkthrough with contractor (Day 65) - Punch list items completed (Day 65-70) - Deep clean (Day 70-72) - Landscaping and exterior touch-up (Day 68-73) - Professional photos (Day 73) - Draw 5: Final 15% at punch list completion

Week 11-13: Marketing and sale - List on MLS (Day 74) - Open house weekend 1 (Day 76-77) - Offer review and acceptance (Day 80-85) - Buyer inspection and negotiation (Day 85-90)

Total rehab: 73 days. Total to accepted offer: 85 days.

This timeline requires two things: a detailed SOW prepared before closing, and contractors scheduled before you own the property. Most new flippers close and then start looking for contractors. That wastes 2 to 4 weeks. Schedule your crew during the closing period so demo starts within 48 hours of getting keys.

Track every milestone against this timeline. If drywall is supposed to finish on Day 35 but does not wrap until Day 42, you are already a week behind. Catch it early. Push your contractor or adjust the schedule. Do not hope it works out.

You have spent 10 weeks and $40,000 turning a beat-up house into a move-in-ready home. The last step is selling it for full ARV. Most flippers treat this as an afterthought. That is a $10,000 to $20,000 mistake.

Staging: spend $2,000 to make $15,000

Staged homes sell 73% faster and for 5-10% more than empty homes, according to the National Association of Realtors. On a $250,000 flip, that 5% is $12,500. Staging costs $1,500 to $3,000 for a typical 3/2.

You have three options: 1. Full staging with a staging company ($2,000 to $4,000, they bring furniture for 60-90 days) 2. Partial staging, just the living room, master bedroom, and kitchen ($1,000 to $2,000) 3. Virtual staging on photos ($200 to $500, but buyers see an empty house at showing)

For flips under $300,000, partial staging hits the sweet spot. Stage the three rooms buyers care about most. Leave the rest empty but clean.

Staging rules for flips: - Neutral colors only. Gray, white, beige. - Remove personal items (you should not have any since this is a flip). - Add plants in the entry, kitchen, and master bath. - Set the dining table. It makes the space feel lived-in. - Bright white bulbs in every fixture. Dark rooms feel small.

Photography: this is not optional

Hire a professional real estate photographer. Cost: $150 to $350. They bring wide-angle lenses, HDR processing, and know how to make rooms look their best. Phone photos cost you showings.

Get 25 to 35 photos. Exterior front and back. Every room from the best angle. Kitchen and bathrooms from two angles. Any standout features (fireplace, deck, view).

If the home is in a good neighborhood, get a drone shot ($100 extra). Aerial photos show proximity to parks, schools, and amenities.

Pricing strategy:

Price at or slightly below your ARV to generate multiple offers. On a $250,000 ARV, list at $249,900. The psychological difference between $249K and $252K is real. Buyers search in $25K increments. $249,900 shows up in the $225K to $250K search. $252,000 does not.

If you get 3 or more showings in the first weekend but no offers, your price is close but not quite right. Wait one more weekend. If you get showings but no offers after 2 weekends, cut $5,000.

If you get zero showings in the first week, your price is too high. Cut 3-5% immediately. Every week on market costs you holding costs.

The flip is not done when the contractor leaves. It is done when the wire hits your account.