Backflip’s First 1000 Homes

Wow! Another month, another milestone. In May, 2024, Backflip closed the loan on it’s 1000th fix and flip home—in the service of entrepreneurs like you on their real estate journey.

While 1000 homes represents only a small fraction of U.S. houses being flipped, it’s a milestone we’re incredibly proud of: 1000 revitalized homes means thousands of lives touched—from investors building financial freedom, to freshly-homed families building their lives, to communities bolstered when the rundown property on the street is new again.

“Ever since [cofounder] Jake and I started, we would think about how many homes, how many lives we could touch. We actually considered buying and renovating homes ourselves. We were confident a vertically-integrated property company could grow to 100, 500, homes. But in the end, we knew we’d have a greater impact by building for others the technology we would have built for ourselves—thus empowering every home flip entrepreneur.” — Backflip founder, Josh Ernst

Explore this interactive map of the 1000+ home-flips funded by Backflip nationwide, with loans either active or repaid.

Some stats of note:

1000 days

It took around 1000 days from closing our first home loan, on July 12, 2021, to closing our 1000th, on May 25, 2024.

5x

While it took 13 months to close the first 100 homes, it took just 23 months for the next 900—and that velocity is getting faster every day.

$82K

Our members have achieved an average gross profit of $82,000 per flip.

$270K

The average loan size of all loans is now $270K, rising from $250K just a year ago.

40

While Texas leads, newer loans are spreading across the country fast, with homes now in 40 states.

To us, this is just the beginning. With a white glove borrower experience, entrepreneur-friendly loan products, and your continued trust, the pins on this map will keep growing. So come back regularly to see how we’re doing, and to keep track of trending flip locations, and Backflips near you. We hope to add your next project to the map!