You Can Go Broke Buying Cheap Real Estate!
You have to be so CAREFUL when investing in cheap rental properties in the midwest!
You can very easily buy something that all the local investors have passed on for a reason!
Save this for later
Here are the red flags you should avoid when you are looking at rental properties online and considering making a purchase
1. been on the market more than 30 days
2. no pictures except for a google image or maps picture
3. no pictures of the interior
4. currently rented out but no info on the quality of tenants
5. recently purchased and now being resold but no remodel occurred
6. any burnt out or abandoned buildings on the same block
7. they are offering seller financing but ONLY at a crazy high sale price
8. was purchased at a tax sale
9. comes off and on the market multiple times
None of these by themselves are DEAL BREAKERS! I’ve bought real estate that had 1 or more of these red flags before and made it work out. But these are guaranteed signs that you need to do even MORE upfront research to protect yourself and KNOW what you are getting into!
#realestateinvesting #landlords #rentalproperty
source
