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Flipping Houses Books
Douglas Gray
Peter Mitham
Ralph R. Roberts
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Published:
September 15, 2025

Flipping Houses For Canadians For Dummies

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Overview

Everything the novice needs to flip houses in Canada

Flipping Houses For Canadians For Dummies can help you turn a quick and tidy profit by buying, fixing up, and reselling real estate. You'll learn to locate potential properties, get good deals on your purchases, complete high-value renovations, and sail through the selling process. Flipping houses can be profitable in any economic climate—as long as you know how to add real value to the properties you buy. This beginner-friendly guide covers all the important variables, so you can buy, renovate, and sell with confidence. Flipping Houses For Canadians For Dummies is perfect for responsible investors who want to flip houses the right way.

  • Learn what it takes to flip houses, and get a step-by-step introduction to the process
  • Get tips on negotiating, property inspections, mortgages, taxes, and working with contractors
  • Avoid legal gray areas and optimize your tax situation
  • Profit in any real estate market, thanks to tried-and-true, Canada-specific advice

Anyone exploring house flipping as an investment strategy needs this book. It's also a great choice for those who already have some experience but want to become more successful in the Canadian market.

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About The Author

Douglas Gray is a retired lawyer, consultant, financial columnist, and bestselling author with more than 35 years’ experience in the real estate industry.

Peter Mitham is a seasoned business writer and editor of Western Investor.

Ralph R. Roberts is a real estate expert, investor, and author.

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flipping houses for canadians for dumies

CHEAT SHEET

"Flipping houses" sounds as easy as 1-2-3: 1) Buy a house significantly below market value, 2) fix it up, and 3) sell it. However, when you actually try to flip a house, you soon realize that it's tougher than it sounds. The beginner faces several hurdles, not the least of which is tracking down properties with potential and buying them for cheap.
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Articles from
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Many eager, ill-informed investors become overenthusiastic about the big picture and lose sight of the critical details that can make or break a deal. They pay too much for a property, underestimate the cost of repairs and renovations, fail to inspect a property or research the title, or sign contracts that they don’t fully understand.
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A key first step to profiting from a flip is not to pay too much for a house. When deciding how much to pay, estimate the amount you can reasonably sell the house for after fixing it up, and then subtract your expected costs, which include the following: Purchase price Cost of repairs and renovations Any back taxes due on the property Holding costs (property taxes, utilities, insurance, interest payments, homeowner association fees, and so on for the time you expect it will take to buy, fix, and sell the house) Any agent commissions and closing costs when selling the house Aim to earn at least a 20 percent profit after subtracting all costs.
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When you're just getting started, be sure to pick an easy property to flip — a great house that's merely cosmetically challenged. Then make the following improvements: Clean everything thoroughly. Repaint the interior walls, all white. Install new wall-to-wall carpeting where it makes sense to carpet. Replace all light-switch and outlet covers.
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Flipping houses is an expensive endeavor. You need money to purchase the property, renovate it, pay the bills for the duration of the project, and sell the property. Where will you find the money to finance your house flips? Here are a few sources to consider:: Your own savings Home equity loan or line of credit (on your current home) Bank loan (you'll need cash for a down payment) Personal loans (from friends or family members) Government loan (if you're buying from a government program) Hard money loans (from investors) After you purchase a property, you may be able to finance the repairs and renovations by refinancing to pull equity out of the property.
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The first step in the house flipping process is the most crucial to your success — finding a property or properties with profit potential. Following are some ideas of where to look: Look for dontwanners in your neighborhood — vacant, unkempt homes the owners "don't want." Search on Auction.com. Read local foreclosure notices, available through your county's sheriff's office or register of deeds.
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When renovating a property that you intend to flip, don't get carried away. Some home flippers hire top-of-the-scale contractors and insist on the highest-quality building materials from the nearest suppliers. To help you avoid that trap, here are 11 secrets that can slash your cash outlays and boost your bottom line.
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"Flipping houses" sounds as easy as 1-2-3: 1) Buy a house significantly below market value, 2) fix it up, and 3) sell it. However, when you actually try to flip a house, you soon realize that it's tougher than it sounds. The beginner faces several hurdles, not the least of which is tracking down properties with potential and buying them for cheap.
Read More
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When most people think of flipping houses, they immediately envision a process of buying a ramshackle house on the cheap, fixing it up, and then reselling it for more than they've invested in it. That's certainly the underlying theme, but the actual process of flipping houses spawns a tool shed full of choices and questions, including the following: Are you going to live in the house while fixing it up?
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Each listing contains a deluge of details about the property, all of which can be very helpful in your search for a flippable property (see the a sample listing). Some of these details, however, are more useful than others. Focus your search on the following golden nuggets: List price: Now that you’re looking at listings of only those homes in your price range, examine the list price (found in the upper right corner) and compare it to that of other comparable houses in the same area.
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