Every successful house flipper knows that they should constantly be on the lookout for new properties to flip. After all, flipping houses is how they make their money! But, even though finding properties may sound pretty straightforward, there’s more to it than just looking for a cheap deal. Christina and I are asked quite often how we look for the best properties to put our time and money into. Thankfully, it isn’t too complicated. Gone are the days of having to drive up and down streets looking for “For Sale” signs or scouring the newspaper for listings. Now, house flippers have it easy with a ton of online listings and resources at their fingertips.
Online listing websites tend to be the go-to source for many house flippers. The four largest sites include Trulia, Redfin, Zillow and Realtor.com. These sites are full of features that make searching for potential flips pretty easy. With online listings you can easily access information such as addresses, listing prices, photos and nearby amenities. These are great resources to use if you really want an in-depth look at the homes in your area.
While Trulia and Zillow contain quite a bit of useful information on homes, if you want the most up to date listings, the MLS is the best resource for you to turn to. The MLS is updated every 15 minutes, instead of every few hours or even days. So if you’re wondering if a home is even still up on the market, I’d recommend searching the MLS first.
Walk Score is packed with a ton of information on every neighborhood. This is a great website to use if you want to learn more about public transportation, housing prices, crime rates, nearby attractions, etc. This is one of the easiest ways to find out about features that potential buyers would enjoy.
Google Maps is a great way to gain some perspective on an area without even driving out there. Whether or not you have a potential flip picked out or you’re just interested in scoping out a specific area, Google Maps will give you an idea of what parks, schools, restaurants and other amenities are nearby that would appeal to potential buyers.
TALK TO A REAL ESTATE AGENT
Last but not least, you can’t go wrong with talking to a real estate agent. If you don’t want to bother with doing all of the work on your own, a real estate agent can certainly help! A real estate agent is by far the fastest way to find information on your local housing market.
When it comes to researching your local market, remember that knowledge is power. Knowing your local housing market will help you become a more successful house flipper.
Our Success Path Education workshops will help you to better learn the ropes of finding the best properties for you to flip. Register for our preview event to learn how Success Path can benefit you and your house flipping career!
For more answers to frequently asked questions, visit the Success Path FAQ.