How to Spot a Profitable Fix and Flip in Under 10 Minutes
The best deals don’t sit around in a fast-moving real estate market. If you want to succeed as a fix-and-flip investor, you need to quickly evaluate potential properties and make confident offers, often within hours of a listing going live.
Fortunately, spotting a profitable fix-and-flip deal doesn’t require hours of analysis. With the right framework, you can screen a deal in under 10 minutes. In this post, we’ll show you exactly how to do that and how Barnett REI Finance helps you move fast with reliable funding.
Why Speed Matters in Fix and Flipping
Hot properties get multiple offers quickly. Especially in markets where inventory is low. If you’re too slow to make a move, you risk losing out to investors with a system in place. That’s why experienced investors have a 10-minute screening checklist. It doesn’t replace full due diligence, but it helps you say “yes” or “no” fast, and get your financing in motion.
Your 10-Minute Profitability Checklist
Run a Quick ARV Estimate
Use Zillow, Redfin, or PropStream to pull recent comparable sales (comps) for fully renovated homes nearby.
Look for:
Similar square footage
Same bed/bath count
Sold within the last 6 months
Within a 0.5 - 1 mile radius
Pro tip: Adjust for quality, don’t compare your potential flip to outdated homes or brand-new builds.
2. Estimate the Rehab Budget
Based on photos, notes, or a quick walk-through, estimate your rehab needs.
Ballpark numbers:
Light cosmetic: $20 - $30/sq ft
Moderate update: $40-$60/sq ft
Full gut/structural: $75-$100+/sq ft
If it’s a 1,500 sq ft home needing a mid-level renovation, you might estimate: $1,500 x $50 = $75,000 rehab budget
3. Check Your Purchase Price vs. ARV
Use the 70% Rule as a quick screen:
(ARV x 70%) - Rehab = Max Purchase Price
Example:
ARV = $300,000
Rehab = $75,000
Max Purchase = $135,000
If the asking price is under $135,000, it’s worth investigating further.
4. Check Days on Market (DOM)
A fast resale means faster returns. Check how long similar renovated homes have stayed on the market.
Ideal: Less than 30 days
Caution: 60+ days could indicate overpricing or low demand
5. Factor in Financing
A great deal still needs great financing. Make sure you can close fast and cover both the purchase and the rehab costs.
That’s where Barnett REI Finance gives you an edge. We lend based on the ARV, not just the current property value. That means more leverage, fewer delays, and the confidence to move quickly when the opportunity strikes.
When to Walk Away
Even if the numbers look good at first glance, pause if:
The property has major foundation or environmental issues
Local comps are too inconsistent
Permits or zoning are unclear
The exit strategy isn’t obvious
Final Thoughts
Not every deal will pass the 10-minute test, but the ones that do deserve your full attention. With a quick ARV estimate, a rehab ballpark, and financing lined up, you’ll be ready to act fast and flip smart.
Looking for funding that moves as fast as you do?
Reach out to Barnett REI Finance and get pre-approved today.