The real estate market can be tough to find great deals — for flips especially. There are a lot of people interested in flipping properties these days, whether they know what they are doing or not. There is also a hot market with homes not staying on the market long and buyers willing to pay a premium price for a premium product. Below are some key things to keep in mind when you are looking to invest in your next flip property.
Sometimes we look at a property and make an assumption that we can’t buy it because its original listing price is higher than what we would pay. By taking note of properties you would really like for what you could pay, you’ll develop a list of properties you can continue watching. You may have certain areas and neighborhoods you love to buy in for flips, but you have begun doing homework in a variety of other areas that are ripe for flips and have more options available to purchase. Don’t get yourself worked up on deals without really doing homework on the area, understanding what is available, what is selling, how many days a property stays on the market, and the sales price in comparison to list price. Once you have an idea of where you might want to buy, make sure you go drive the area. Get a feel for what the neighborhood is like and a good sense of the properties surrounding the potential flip deal. Make sure it is a place that has properties not just for sale, but that are selling.
Real estate investing is about making money, but it’s also about not losing, too. Are you interested in investing in Real Estate, but aren’t sure if you’re ready to do it alone? From our trusted network of business associates to our abundance of experience in the investment industry, we can help you turn a run-of-the-mill deal into an investment steal!