How long does a fix and flip take?
A fix and flip usually take two or three months to a year, depending on how much work a property needs.
Not only is there the closing of the property which some investors can do quickly; usually faster than a retail buyer or someone who is using a real estate agent. There is also the time needed for the title agent to get everything coordinated with closing.
After getting permits and approval, we also need to get subcontractors. Then we can start the actual rehab.
Rehab can take two weeks if it is just a simple cosmetic turnover rehab. If there is much to be done then it may take 30 to 90 days to complete. It is also possible to take longer than that depending on the situation. Nevertheless, the more skilled the fix and flipper is, the shorter the rehab will take.
Once the rehab is done, then comes the marketing. This all depends on the kind of market.
Some fix and flipper use staging, this is when you put accents and decorations to help buyers see the potential of the property. Though in some markets they would want to see the property empty so as not to influence their decision in buying.
If there is a buyer and it locks up the property as soon as it is listed. It usually takes 30 to 45 days for a bank to issue a standard mortgage to an owner-occupant, even if they are pre-approved. The new owner would also want to do inspections, have it appraised and the banks needed to have all this information.