Getting a good deal on a rehab property is not enough to ensure a profit. If you buy in the wrong market it truly won’t matter how low your offer is. Prior to making an offer, or even exploring a property, there are a handful of key items you need to do your homework on. If these key items aren’t to your liking, you need to consider walking away regardless of how good the deal looks on face value. If not, what you will end up with is a property with minimal demand that will sit in your portfolio struggling to find a buyer. This will hinder your ability to purchase additional properties and your business will come to a screeching halt. Prior to moving all in on a purchase here are five key market items you need to consider.
Buying the right property to rehab means more than just looking at the price. Use these five items to help get the right property in the right market for you.