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Location! Location! Location!

Tips on Purchasing a House to Flip!

When thinking about flipping a house, the biggest tip I can give you is Location, Location, Location! This is so important because you could have the most gorgeous 3000 sqft home with custom features, but if this is right on the interstate in a bad section of town and the main road as your front yard I can promise you your value is going to not be near what it could be as in a highly desirable neighborhood with great schools and no interstate as your back or front yard.

When it comes to buying a flip though, you have to think about your traveling as well, you don't want to buy a flip that is an hour or more away from you most likely because that means you are going to be for the coming weeks or months be traveling constantly that distance and it's not necessarily just once or twice a day.

Research the Ins and Outs of the area you are wanting to invest in, look up nearby restaurants, schools, activities, whoever your market is going to be for research these different things to see if the necessities for this crowd are in the areas you are looking.

Last but not least, you want to look up comps in the area, meaning comparisons. The houses you are looking at, you want to make a profit off of, so what are the surrounding houses selling for? The houses you are looking at flipping, are they foreclosures, look at what you need to offer in order to purchase, include closing costs, labor, renovations etc. and still come out in the positive.

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