What are some core elements of rehabbing and house flipping people should know?

[Christian Walker]

I'm an agent in investment real estate. It would help to hear from investors themselves on what knowledge they value when considering buying a property. What would you expect an agent to know? What are some things you consider when a deal is presented to you? Thanks in advance!

[William Harvey]

@Scott E. What if a property in a warzone with loud dogs, 8 cars, chainlink fence..... was offered to you for $1? I know it is an extreme example, but the point is that even for the most undesirable properties, they are always a deal at the right price. 

I'd rather get a great deal on a property in a bad area than overpay or get an "okay" deal on a property in a good area. I can tell you from personal experience that (in the case of flipping) I have made more money on the deals in bad areas, busy streets, etc than the ones in good areas. Likely because I've been more intentional about buying for a discount because of all the negative factors. Sellers also are (usually) aware of these issues and would be more likely to discount the price compared to someone with a property in a good area. 

For rentals, I would agree with you that for the sake of your own sanity and not having terrible tenants and problems to deal with all the time, it likely makes more sense to focus on good areas first and then price as a close second. But for flips where you are in and out of a property quickly, I think price is the ultimate thing to focus on above all else. Just my two cents!