Which type of neighborhood is best for flipping homes?
When looking for an investment home that you eventually intend to flip it is important to remember that the location is just as vital as the actual home. It is feasible to earn a profit in nearly every area but certain areas make it easier on the investor.
Top Qualities
When people pick out an automobile they focus on the features that are important to them and their current lifestyle. In a similar manner, you can consider the following neighborhood features when considering an investment property:
- Homes that sold recently sold quickly and had strong interest
- Declining numbers of rental properties
- Homes at least 20 years old that will likely need significant rehab
- Steady values or, even better, increasing values
- Average age of homeowner is elderly; these people are potentially moving to better climates or downsizing
- Increased number of people moving from differing areas; signifies popularity
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Read the rest of Picking the Right Neighborhood for Flipping a Home (464 words)
© Michael Collins - Rock Realty for Janesville Wisconsin Real Estate, 2013. | Permalink | No comment | Add to del.icio.us
Post tags: demographics, downsizing, finding good neighborhoods, investing, quality neighborhood, rebounding areas
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