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 Do it all yourself. Casual flippers often do it all (or mostly) by themselves — buying the property with their own money (or a conventional loan), completing most of the repairs (and hiring professionals to do anything beyond their level of expertise), and listing the home. Maybe these flippers have a real estate agent help them navigate the buying-and-selling process. This approach may be the most profitable, especially if you live in the home you’re flipping. Making all the repairs yourself isn’t necessarily the most profitable approach. If you take a long time to complete the repairs, holding costs (interest, insurance, utilities, maintenance, and so on) can eat away your profits.

 Delegate the heavy lifting. Experienced flippers often delegate most or all of the work, buying and selling properties through an agent and hiring a contractor to coordinate the repairs and renovations. Sometimes, experienced flippers play the role of contractor, hiring subcontractors (electricians, plumbers, painters, and others) to do the work. Hiring out the work increases repair and renovation expenses, but it can speed the process and reduce holding costs.

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