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Investigate AreaThe most important work to be done on a house flip is before the purchase of the property. Think of this time as beginning with a clean canvas. There is no mandate to buy. Life is good. If you are sure you want to think about flipping a house, then get to it.Drive through areas where you may want to work. This is an important consideration. If you are not pleased with the area, for any reason, others may not be interested in buying there. But when you find an area which is near where you live, drive street by street getting a feel for the location. Use maps. Mark on the map areas you like and areas you do not like. This is usually a two person activity. One on the map, one driving.In my case, I drove through an area where I had been considering buying a residential property. Not two blocks away I found a house with an abandoned car out front and a dog living inside. The entire neighborhood was quite nice. But I just did not want to live in a neighborhood that would allow that sort of activity to exist. I figured once the neighborhood started to go down in maintenance, then the other units were not long to follow. So I looked else where.
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Prepared 2006-2010 David Ullian Larson |