Quote · BiggerPockets Real Estate Podcast
If House Flipping is “Dead,” How Is She Flipping 10+ Houses THIS Year?
Where this was said
The 2026 Flipping Landscape: What Changed
At 5:07 · chapter starts 2:55
Henry and Dominique dig into what has fundamentally shifted in the flipping market over the last two to three years. Dominique identifies the core problem: the margin for error has shrunk to near zero, meaning even small miscalculations now turn potential profits into break-evens or losses. This environment, she notes, has been steadily exposing flippers who relied on market tailwinds rather than disciplined underwriting. The pair discuss how ARV analysis has become far more nuanced — where in 2021 and 2022, any renovated property could command top-of-market pricing, today buyers are laser-focused on design quality and finish level. If your product doesn't match the comp that set the price record in a neighborhood, you can't use that comp [1] — Dominique Gunderson "In 2021, all renovated properties could be lumped together and priced similarly. Not anymore. Today's buyers are hyper-picky, rewarding onl…" 04:01 . Henry's response to this reality is philosophically extreme: he underwrites so conservatively that he tries to convince himself not to buy every deal. If the numbers still pencil after that scrutiny, it's almost certainly a strong opportunity.
In 2021, all renovated properties could be lumped together and priced similarly. Not anymore. Today's buyers are hyper-picky, rewarding only the highest-quality finishes and design. Using the top comp as your ARV when your product doesn't match it is the fastest way to lose money.
The margin for error in house flipping is now so small that even minor miscalculations can erase profit, exposing weaker investors over the past two years.
Henry Washington uses a simple but powerful ARV framework: get a zone (high, mid, low) from an agent, then underwrite at the mid-to-low end. Factor in two price drops, $10k in closing cost assistance, and two extra months of hold time before making your offer. If the numbers still work, it's a deal.
