Investing in your first home and attaining RealSuccess can be somewhat stressful. Nevertheless, there are a few non-negotiable things you should consider before purchasing your first flip:

Consider these 12 tips: 

1. Price – Before going to look at the property, make sure the price is below the market value. Otherwise, you’re wasting time looking at properties with very low profits. Be sure the price is well below the pricing of other homes in the area. You’re looking for homes you can fix-up, hold, pay fees, commissions, and still make a profit.
2. Foundation – If foundation damage is found in the home; an inspection should be performed to evaluate the cost of repairs. Many times when looking at properties it’s recommended to bring out a foundation expert to provide a quote on the location. Clues to look for when inspecting the outside and inside of the house are cracks above windows, along brick mortar, over doors, and in corners. In many instances, you can feel the foundation sinking in on certain areas of the home.
3. Roof  – Next, when checking the roof start by counting the layers of shingles. Normally, if there are more than two layers of shingles, you will need to replace the roof. As you walk through the inside of the house, pay attention to the ceiling and look for severe water spots. This is a huge indicator, you will need to replace the roof.  Your foundation and roof are both expenses that are more costly during renovations.
4. Walls – Be on the lookout for holes or damaged sheetrock that will need replacing. Drywall is cheap and not hard to repair, but it does encourage many buyers to run away from the property. I love homes with holes kicked in every wall. I’ve learned Holes = Money.
5. Electrical – Look at the conditions of the breaker box. If you’re going to add something like an A/C unit, you might have to upgrade the electrical, it’s good to keep that in mind.  Next, if the power is on in the house, you can check the lights to ensure there are no issues in the house. 
6. A/C and Heat – The age and condition of the air conditioning unit play a big role in potential flips. Knowing the conditions will determine if replacing the unit is necessary. 
7. Cabinets – Check if old cabinets need replacing or minor adjustments. If possible,  reuse them for a higher profit margin. 
8. Countertops – They are not crucial in the purchase but good countertops will save money. Most of the time they should be replaced to fit your vision of the remodel. 
9. Plumbing – Make sure the toilets flush and there is running water. The water heater is normally off, but you can check the age of the unit to get an idea if it needs replacing. Confirm how many faucets, toilets, showerheads, and other plumbing fixtures are needed and take these factors into consideration for budget costs. 
10. Flooring – Check how much of the flooring is going to be fixed or replaced. If possible, refinish the hardwood floors, or put down ceramic tile.  If there is no hardwood, estimate the cost for carpet.
11. Paint – Don’t forget to price paint inside and out.
12. Appliances – Take into consideration that all appliances normally get replaced at the beginning of every project. 

Knowing what signs to look for can determine a good buy from a bad buy. Everything must be considered on the inside and outside in a flip. Following these simple steps will guarantee a successful investment.