Doug Kleinsmith On the Art of Flipping Houses

Douglas Gerard Kleinsmith

January 27, 2021

Doug Kleinsmith is a marketing and business management professional who works and lives in the Minneapolis, Minnesota area. Over the years, Mr. Kleinsmith has developed a reputation for his expertise in these fields and others, including Rental Property Management and Flipping Houses. We were curious about how house flipping works in the Minneapolis marketplace. So we asked for his impressions on this particular enterprise. Here’s what we learned.

Doug Kleinsmith On the Art of Flipping Houses

Flipping houses, Doug Kleinsmith explains, is sometimes considered controversial. In the art world, “flipping” is a dirty word that implies making a profit without adding value. While this impression still haunts the “house flipping” community to some extent, the truth is that the value generated in the “flip” is only as real or illusory as the people doing the flipping. 

Generating Value in Flipping Houses

Doug Kleinsmith says there are certainly teams out there who buy run-down properties and do the most superficial job they can get away with, cutting every corner they can find and making out like bandits. Of course, being smart, using cost-effective materials and methods is expected in any capitalistic endeavor. 

However, according to Doug Kleinsmith, teams that do a shoddy job when flipping houses usually don’t last very long. These fly by night organizations will earn a poor reputation among real estate agents very quickly. All it takes is one shoddily flipped house before agents will start warning buyers against investing in a given property. Moreover, flipping teams who do lousy work often run afoul of the law.

Adding Value in the Flip

Doug Kleinsmith explains that a quality house flipping team leaves the property better than they found it. They repair the damage, restore function, add durability, and improve the curb appeal as well as the overall aesthetic appeal of the home. 

What the house flipper is really selling is the work that goes into the renovations, repairs, and improvements- not the house itself. The goal is to create more value than expense; that’s just business simplified. To do this requires expertise, care, and dedication to a job well done. For house flippers who enjoy this kind of work, and hope to do more of it, delivering quality is non-negotiable. 

Doug Kleinsmith told us, the way to do this is through solid craftsmanship. The benefits of using decent materials to do any work performed, ensuring all permits and inspections are done according to city, county, and state requirements are essential. Some good sense is required in picking the right jobs as well. 

He says a flipper’s first task is to find a happily situated home in a desirable location- one that needs work but can be flipped responsibly, effectively, and profitably. The second step, as Bob Vila famously said, is to “paint everything.” After that, installing new carpet and deep cleaning are the meat and potatoes of flipping a home properly.

At the end of the day, Doug Kleinsmith explains, “it’s all about the elbow grease you put into it.”