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Here are 7 important thing to check when buying houses.

The obvious qualification when buying any investment property is if you are buying it low enough.

These few points will help you qualify a house as a good investment.

1)    Extent of repairs
Most wholesale houses need repairs.

 It is important to assess the depth of repairs that need to be done and a fair estimate of how much it will cost.

If  you find only minor repairs are necessary, you might have a winner.

Unexpected or major fixes can take all your profits.

2)    Budget
Can you make the repairs within your estimated budget?

 On occasion, it may perhaps be obligatory to carry out an inspection even for a house that needs repairs to find out if you might need to do structural repairs  such as plumbing, changing walls and so on.

3)    Time frame
Can the changes be completed within an acceptable time-frame?
Will the changes increase the value of the property to make it more marketable?

 Flipping houses requires speed to keep costs low.

 The goal is to spend as little as possible put your money in your pocket and move on to the next deal.

4)    Hiring contractors Vs doing it yourself
Even though flipping houses involves wholesaling them to other rehab real estate investors, it might be necessary to assess the type of repair that needs to be done and if you can do it yourself if necessary, or hire a contractor to do it for you while keeping the carrying costs low.

5)    Neighborhood
Avoid war zones or run-down neighborhoods.

You must also avoid high end areas when flipping houses.

 Staying within the medium price range will not only give you more deals, but your properties will be more marketable.

Does the house match with most houses in the neighborhood?

Is it too big or too small in comparison to similar houses?

These factors make it tough to sell and leave little profit for you.

Stay within medium range in the same neighborhood to sell faster.

6)    Comparable sales
Do homes in the same neighborhood sell within a price range that you can make a profit when you sell your house?

Though you could think you are buying low, comparable sales in the neighborhood could prove you wrong.

It is safer to have conservative estimate of the fair market value when buying houses than make end up making a loss because houses in the same market have not been selling within your price range.

7)    Demand for the property
Even in a depressed real estate market, some neighborhoods will be in more demand than others.

Is it accessible to schools, shopping, parks, hospitals and others that make it more marketable?

This will make it easier to sell your house fast .

Whether you plan to flip the house to another investor or do the repairs yourself, these are important factors to consider that will make your house sell faster and move on to the next deal.

Simon Macharia invests in real estate in Dallas Texas and runs his business from a investorswebsites.net">real estate investing website that also automates his business. investorswebsites.net">Click here to find out how to can automate your business and make more while spending less time and money.