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

Obviously you can never go wrong when you buy your houses low.

Here are a few points to consider to ensure the house is a good investment.

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

It is important that you find out the dept and cost of all needed repairs.

If repairs are light, you probably have a good deal.

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

2)Budget
Can you fix it and stay within your estimated budget?

Every now and then, it might be crucial to perform 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 do rehab in a short time-frame?
Will these changes boost the house value and make it easier to sell?

Flipping houses requires speed to keep costs low.

The goal is to spend as little as possible put your money in your pocket and move on 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 may 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 war zones or run-down neighborhoods.

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 easier to sell.

Is the home a good match with other homes in the same neighborhood?

Is it too big or too small in comparison to similar houses?

These factors make it tough to sell and leave little profit for you.

Stay within medium range in the same neighborhood to sell faster.

6)Comparable sales
Do comparable houses sell at prices that will allow you to make a profit?

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 when housing market is low, some neighborhoods will be more profitable than others.

Is it accessible to schools, shopping, parks, hospitals and others that make it more marketable?

This will make you sell your 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.