I am looking into two properties for flipping, the homes are in a college town. One house is is for sell at 19,900 and is in decent shape. It would need some curb appeal and some updating inside. The problem I am having with buy this one, is the front yard is a 90 degree angle to the street. The back entrance does have a gravel drive though, to allow your own parking. The second house, is within walking distance of a large community park with access to a lake. However, it is down a embankment next to the main highway and is gutted to the studs, also has a much smaller lot .4 acres. It needs some major work, but it comes at a much lower price than the first house. My question is which house should I invest in and how do I convince myself that it will sell? Thank you, to all that reply.
Welcome to BP how close to the college are they? Can someone walk to the college?
The gutted one would be a possible bike ride during warmer weather. Both would need a car.
Hey @Jeremy Abney
Welcome to BP! Have you taken a look at the comparable properties which have sold in the last 6 months for each of the properties within question? If you aren't currently working with a realtor you can use zillow.com, trulia.com, or realtor.com to get an idea on what has sold and how it compares to the properties you are considering.
Best of Luck,
See if it serviced by the college shuttle route.
What color is the house?
Seriously, Scott Dixon is correct. Look at the comps.
Sorry for the late reply, I asked my Realtor to get me comps on both properties and I am waiting to hear back from her. Any advice on how to find comps without an agents help? Thanks for the reply's.
Not reliable, but helpful, look at the value on zillow and trulia and look at the houses around it see how uniform it is.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.