Flipping or buying your next property? Here are 10 hidden factors that can destroy your property value. These are factors that appraisers rarely consider when determining value, but the price a buyer is willing to pay for your property will be significantly less because of these factors, even if other comparable properties in the area are selling for more. Do not buy your next property without watching this video!

Factor #1: No Parking

First on our list is a property with no parking. This can be a huge factor for a lot of buyers for several reasons:

• First is buyers want a spot where they can park their cars without worrying about other cars potentially hitting or nicking their car as they're going up and down the street.
• Second is parents want a safe spot where they can park so their kids can get in and out of the car safely.
• Third, most people want a convenient spot where they can pull in and park to get groceries in and out of the house.

Factor #2: Cemetery

Second on our list is cemeteries. Now, some buyers don't mind living next to cemeteries, but there's a large demographic of buyers who just do not want to live next to cemeteries. I don't care if it's on the right side of the house, the left side of the house, behind the house or in front of the house; cemeteries will impact your home's value because there's just that demographic of buyers who do not want to live next to a cemetery.

Factor #3: Power Lines/Power Stations

The third factor impacting property value is power lines or power stations. This can be intimidating for a lot of buyers for a few reasons:

1. They may be concerned about the amount of radiation that the power station or power lines are throwing off, especially if you have kids.
2. Aesthetically, they just don't like the look and feel of having a power station or power lines going through their backyard or across their house.

Factor #4: Cemetery

Fourth on our list are different treatment plants that could be in and around the area of the property you want to buy.

Water Plants: You want to be careful to make sure the water plant is not dispersing water across your land and potentially damaging it. Or that the drainage from that water plant is draining correctly so different parts of your property are not flooding.

Sewage Plants: Depending on the day or which way the wind is blowing, sewage plants can send nasty smells your way. If there’s a sewage plant close by and you have a buyer come to the property or you're about to sell the property, they will be turned off from that smell.

Factor #5: Trains

Trains could also significantly impact your property value because no one wants to be next to the shaking or noise of a train as it passes by. Now here's a pro tip that you may want to write down.

Pro Tip: Make sure you use the Google Maps App on your phone and zoom above the property you're about to purchase because that will show you things around that area like train tracks that may not be visible when you're standing on the property. This can save you thousands of dollars when going to purchase a property people do not want.

Factor #6: Easement

Next on our list is easements. You must understand all of the easements that exist on the property you're about to flip or purchase. An easement is basically giving somebody the right to access or cross over onto somebody else's property without possessing it. For example, let's say you had to go through somebody's driveway to get to your house. If that easement was no longer there, that could greatly impact the value of the house. Or perhaps there is an easement where somebody could drive past your house and go through your backyard. Well, maybe people don't want other cars driving past or through their backyard to get to their house. Another scenario would be when there is an easement for you to be able to walk to the beach and now you no longer have that easement, which makes your property less desirable.

So, understanding the easements and the limitations and restrictions of those easements is very important so that you don't get caught off guard and now your property is worth significantly less.

Factor #7: Unique Parcels of Land

Number seven on our list of hidden factors to look for that impact value are unique parcels of land. What do we mean by that?

• Farmland
• Landfills
• Dumps

These types of parcels of land that surround your property can greatly impact the value of your home. The smells from these properties, people may not like. The trucks and the garbage from these types of properties, people may not like. So, think about these type of parcels of land that are surrounding the property you're about to purchase.

Factor #8: Busy Road

The eighth hidden factor impacting value are busy roads. A lot of buyers do not want to be on a busy road for lot of different reasons. Some might be worried about their animals running out of the front door and potentially being hit. Or they don't want their kids playing in the front yard worrying about cars as they fly by on that busy road. Now, here are two pro tips that you can use when looking at property:

Pro Tip #1: Make sure to drive by that property at different times of the day, in the morning, afternoon, and in the evening, because traffic patterns change. The amount of traffic flowing on that road may dramatically change at different times of the day.

Pro Tip #2: If you see speed bumps on that road, you know that is a busy road! Towns do not take the time to implement them or pay for them if they're not trying to slow down traffic. So keep that in mind.

If you're about to flip or buy your next property, your ARV value (After Repair Value) or your resale value may be greatly impacted, even though other homes close to you in the neighborhood are selling for much more because that busy road will impact the value.

Factor #9: Development Project

Development projects can also impact property value. It could be an apartment, condo, or office development. But whatever it is, people don't want to live in construction zones. They don't want to have to listen to all the noise of hammers and saws next to their property. People just don't want to be in a construction zone for one year, two years, three years, depending on the size of the project, and they will certainly pass on your property if they know they're about to enter a construction zone for a certain period of time.

Factor #10: Bus Stop

Last on our list of hidden factors impacting property value are bus stops. Now, when you think about it, bus stops attract people at all different times of the day; early in the morning, middle afternoon, late at night, and you may hear that all throughout the day and evening. As people gather at that bus stop, it may attract large crowds that you don't want in and around your house, or there may be activities taking place at the bus stop that you don't want to be around. So, you may not have thought of it, but bus stops could impact the value of the property because people don't want to be next to them.

Every Successful Real Estate Investor Has a Mentor

Here at Freedom Mentor, we have done thousands of real estate deals and the hidden factors that we outlined above are what we have learned through many years of experiences. We understand what impacts the value of a property, regardless of the appraised value: It's what a buyer is willing to pay for it. And these hidden factors will impact what your next buyer is willing to pay. If you're looking for coaching and you're looking for help to take your real estate investing to the next level, you can fill out an application for our Apprentice Program here: Freedom Mentor Apprentice Program.

If you have questions for us, text FREEDOM to 305-315-8030 or post a comment below.