Begin with the end in mind. It doesn't matter if you plan to live in the property, rent it out, or renovate and flip it... before you buy, envision yourself selling it.
Brainstorm all the potential concerns your future buyer could have - starting with anything that made you question your own decision to buy. Is the property on a noisy street? Does the basement flood once in a while? What condition is the roof in? Is the layout of the house good for the average family? Is it in an up-and-coming neighborhood? Are other properties in the area comparable in value?
If there is anything about the place that makes you hesitate - anything that can't be fixed easily and cost effectively - you can be sure your future buyers will have the same problems with it. So forget it and move on to the next deal.
You are making an investment only if there is a reasonable probability that you will be able to make money when you sell. Buy every property with that in mind.
And if you or your buyer need financing, you should consider the Home Seller Assist program created by John Alexander and submit an application at www.webuyfastnow.com and if you want to make a 1% commission from the sale, then register at www.fastsellerloans.com They will also pay you a 1% on any other loan that funds.
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