A critical phase of property flipping is estimating the cost of repairs, remodels and upgrades. With your first few flips, you’ll find that it takes a bit longer than you originally thought before coming to a flipping propertiesfirm estimate.

Working with your contractor you will soon work out how many repairs are needed and how long it will take to get the property ready to sell. To get better at your estimates and reduce the time it takes for your calculations, it pays to be consistent.

That means doing the same thing over and over again. For example, if you routinely decide to upgrade the kitchen on each property you buy, identify a suitable suite of appliances that you can use each time. There’s no need to shop around for new materials or upgrades when you have a solid idea of how much a new kitchen will cost. If you price out a stainless steel refrigerator, range and dishwasher of the same make and model each time, you’ll have your kitchen estimate in minutes.

The same approach works with any repair or remodel. Do you like to upgrade your properties with wood flooring? Then you know how much per square foot flooring will cost if you use the same type of wood. In fact, when you buy more of the same flooring or any other building material such as tile or carpeting, you can get a discount when you buy in bulk.

If you only plan on flipping one or even two properties over the next few years, then you won’t breed the familiarity that comes with multiple flips. But if you are an investor or part of a real estate investment team who is constantly buying and flipping homes, then commoditizing as much as you can will increase your bottom line.