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Locate PossibilitiesDrive back and forth through the area you have identified as where you want to work and buy your flip. Cover every street for a dozen block radius. Write down addresses and telephone numbers for any house you see for sale. Also write down the address of any property which seems vacant and in need of repairs. It may be the perfect property to buy. Even through there may be no for sale sign on the property doesn't mean you can not find the owner through the municipal records, make contact, and add the property to your list of possible.As you find possible houses to buy, take photographs. If the house is vacant, walk around and take several pictures. These photographs are for your use. Do not skip areas of a house which need work. These areas are where you need the most photographs. Then you will have a record of what needs to be done through the photographs for future reference. Photographs will also help you remember a property. After time, all houses look the same. Addresses do not attach to images in our brain very easily. So in this case a picture is worth a thousand words.Create a folder for each possible flip. Include notes, telephone numbers, photographs, just everything to do with the property.
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Prepared 2006-2010 David Ullian Larson |