7. The Home’s Features Are Similar to What Other Homes in the Neighborhood Offer
Once you’ve determined that other homes in the area have been selling, make sure the potential investment home offers the same features — or can offer the same features after making a reasonable investment in the renovation.
Jeannie England, a house flipper and owner of Real Ventures, LLC, said to look out for the following features of recently sold homes: “Do they have garages or carports? Larger or smaller yards? Brick or siding? Basements or crawl spaces? Are they just renovated or were additions necessary? All those factors are critical in determining the potential value, and whether the house being considered is a good buy or not.”
“If the house fits into the criteria that match the houses that are selling and you can buy it at the right price, it’s a good buy,” she continued. “Don’t over-complicate it.”
