House Flipping – What to Look for When Walking a Property
1 Price – Before you even go to look at the property you need to make sure that the price is way below the market value of the real estate in that area otherwise you are wasting your time looking at properties that you cannot make any money on. So you need to make sure it is so far below the price of other house that you can fix it up, hold it, and pay fees and commission and still make a huge profit.
2. Foundation – I buy and sell real estate in Texas and foundation is a huge problem here, and it is the first thing I look at. If there is foundation damage you need to see how much this is going to cost to have fixed. Many times when I am looking at a property I can call my foundation guy and he will come out and give me a free quote on the spot. Foundation damage can drain a budget so until you are comfortable with you skills at judging the amount of foundation damage call a pro for a quote and then factor that in your budget. When looking on the outside and inside of the house you are looking for cracks above windows, along brick mortar, over doors, and in corners, and many times you can...
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