Here are a few tips to help you find good investment property.

The obvious way to be safe is to make sure you buy low all the time.

Consider these few points to qualify a house as a good investment.

1) Extent of repairs
Houses for flipping will almost always need repair.

You must determine the extent of repairs needed and estimate how much it will cost.

If you find that just simple fixes are needed, it might be a good deal.

Unexpected or big rehabs can cost too much and leave little to no profits for you.

2) Budget
Can you rehab the house within your budget?

Now and again, it possibly will be necessary to do an inspection even for a house that needs repairs to find out if you might require to do structural repairs such as plumbing, changing walls and so on.

3) Time frame
Can you complete repairs within a short time?
Will the changes increase the value of the property to make it more marketable?

Flipping houses needs speed so costs remain low.

You must aim to spend as little as possible, make your profits and proceed to the next deal.

4) Hiring contractors Vs doing it yourself
Even though flipping houses involves wholesaling them to other rehab real estate investors, it possibly will be necessary to assess the type of repair that needs to be done and if you can do it yourself if necessary, or hire a contractor to do it for you while keeping the carrying costs low.

5) Neighborhood
Avoid low-priced areas or war zones.

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You also need to avoid high end areas when flipping houses.

Staying within the medium price range will not only give you more deals, but your properties will be more marketable.

Does the house look similar with other houses in the same neighborhood?

Is it the same size like most other houses?

These things will make your house harder to sell and eat into your profits.

Stay within the average for the neighborhood to sell faster.

6) Comparable sales
Do homes in the same neighborhood sell within a price range that you can make a profit when you sell your house?

Even thou you might think you are buying low, comparable sales might prove you wrong.

It is safer to have conservative estimate of the fair market value when buying houses than make end up making a loss because houses in the same market have not been selling within your price range.

7) Demand for the property
Even in a depressed real estate market some neighborhoods are more marketable than others.

Is it within easy access to services like shopping, schools, recreational facilities, and others that make it more appealing to house buyers?

This will make it easy for you to sell the house fast.

Whether you plan to flip the house to another investor or do the repairs yourself, these are important factors to consider that will make your house sell faster and move on to the next deal.

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