Value,Value,Value

Besides location , your ARV (after repaired value is key). Today alone i have seen 3 deals go down the drain due to over optimistic valuations. Learn what makes a good comp. Use comps in same subdivision first. Its a soft market be conservative. Watch out for some Texas suburbs, value is declining and you must take that in account. Here is the good part, many times if dealing with a foreclosue the bank will renogiate. take them your appraisal, they know you have to have a profitable deal. Offer lower price or move on to a better deal. Sometimes (almost always) a busted deal due to appraisal coming in low is a blessing.