One of the first things you need to do when you plan on flipping houses is learn how to distinguish between good and bad properties. There are certain elements that make for a good house, and in today’s post, we will discuss a few of those elements to give you a better idea of what you want to look for.
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Location, Location, Location
The most important place to start when searching for a property to flip is the location. You will want to consider both the city and the neighborhood, as both will help to determine the value of the property.
Think about what factors you would consider if you were looking to move. Most likely, you would want a nice neighborhood where you feel safe. You would probably also look for a location that is close to the grocery store or public transportation without being too close to the highway or an airport. You will also want to look into what school districts are in the area, as well as local parks. If you were to sell your property to a couple with kids, these things are important.
Another important factor to consider is the vibe of the neighborhood. Are the neighbors in their later years of life or are there mostly young couples? By learning about who already resides in the area, it will give you hint at the type of people who may be interested in buying the property.
Physical Characteristics
The overall appeal of your property is a fine balance between conforming to the rest of the neighborhood, while also standing out. For example, the square footage and layout of your property should be similar to that of the houses around yours. If your house is too small, it won’t be as appealing as the other houses, but if it’s too big, then it might be too expensive and you will have trouble selling it.
While your house should have similar dimensions, what you do with that space should make your house stand out. The color you paint the house, the finishings, and the curb appeal are the places where your property will really shine and make your house the more appealing option to potential buyers.
Rehabs 2 Riches
House flipping is a serious commitment and in order to make your business successful, you need all the tools and expertise to know the difference between a good investment and a bad investment. Luckily, Alton Jones and Rehabs 2 Riches can help! With years of experience in the house flipping industry, Alton Jones can help you make your home flipping business successful. Learn more about his seminars, and contact Rehabs 2 Riches to get started today!
