Updated over 8 years ago on . Most recent reply
Walking my first potential flip property
So I'm walking my first potential flip property with a friend and potential partner who's family member is willing to lend on a flip. Found a potential good deal on the MLS. 3/1.5 SFR listed at 175k, flipped comps in the area going for the 240-250k range. Property looks lived in but a little outdated so just from pictures looks like it would be just a cosmetic rehab. Kitchen, bath, paint, carpets etc. Obviously we'd need to rule out big ticket items before moving forward on the deal but I was wondering if anyone could provide tips on a worksheet in the file place or specific methods/tips to walking a property? We are trying to get a trusted contractor to come see the house with us to put together repair estimates and scope of work but still want to know anything else to check and look for myself. Any advice on red flags or what to look for would be helpful.