3 Ways to Determine the Worth of a Fix and Flip Property
If you are looking for a real estate investment, consider the potential of buying a fix and flip property. There are many benefits to these investments, including lower price points and versatility- but which ones are worth the effort?
Three ways to determine the worth of a fix and flip property are:
Visit the Property
The best way to determine if the property is worth your time and money is to visit it. While video tours and photos can reveal a lot, an in-person visit can be very telling. You will be able to see the property’s condition up-close, while also taking a better look at the surrounding neighborhood.
Compare the Comps
Speaking of the neighborhood, how does your potential fix and flip property compare to other comps in the area? Compare pricing, previous sales figures, and the history of the property before making the investment. What will you need to do before it is in-line and comparable to other properties nearby? These are the questions that prospective investors and buyers need to know.
Know the Market
So, what have comps in the neighborhood sold for recently? Is this a primarily residential area or is this a commercial zone? What is the demand for properties like in this specific region? These questions can be tricky and will likely require some research. Talk to a reputable real estate agent in the area to find out more or visit the MLS website online to do your own legwork before making the decision whether to invest in the fix and flip property.
Are you ready to invest in a fix and flip property? Talk to the money professionals at Evolt Capital; they have market knowledge to share, while also helping find the financing that works best for you. Call or visit today.