House Flipping Red Flags
Hi Everyone,
Newbie investor working on getting my first deal put together. I had a question I'd like to ask to some of the more experienced investors - when looking at a potential property, what are some of the red flags you have/might encounter that make you walk away from the deal? I know generally people like to stay away from "structural" issues (while some investors are perfectly fine with fixing these), but I am looking for more specific answers. If you need to replace the roof do you walk away? Termite damage? I know it ultimately comes down to the cost of the project, if the seller is willing to fix/adjust price and if the deal still fits the 70% rule. I am just curious if there are certain things that are hard stops in the process and make you walk away without any further investigation. If you have any tips for things to look out for as a newbie investor, those are always welcome too!
Thanks!
Jason