Rental Property Investment - Finding The
Properties
by:
Steve Gillman
Rental property
investment starts with finding the best deals. To do this, you can
increase your odds by finding more deals. Who's more likely to get a
cheap apartment building, an investor that looks through the MLS
listings and calls it a day, or the one that uses ten resources? Here
are those ten:
1. Look in old papers to
find "For Rent" ads. Call if they are a few weeks old. The landlord may
be ready to sell, especially if he hasn't yet rented the units out.
2. Look up old FSBO ads.
Call on two-month-old "For sale By Owner" ads, and if they haven't
sold, they may be ready to deal. Owners often give up the effort, but
still would love to sell. Help them out!
3. Drive around looking
for "For Sale By Owner" signs. Owners often don't want to pay to keep
the ad in the paper every week, so you won't see all properties there.
4. Find abandoned
properties. That's a pretty clear sign that the owner doesn't want to
deal with the property. He might sell cheap.
5. Talk. Let people know
you are looking and sometimes the properties will come to you. There
are a lot of owners out there who want to sell, but haven't yet listed
their property.
6. Talk to bankers. You
might get a foreclosed rental property cheaper if you buy it before
they list it with a real estate agent.
7. Offer someone a
finder's fee. There are people that always seem to hear about the good
deals. Have such people coming to you.
8. Eviction notices. If
your local papers publish eviction notices, or if you can get the
information at the courthouse, it can be useful. A landlord who just
went through the procees of evicting tenants is a likely seller.
9. Use the internet. Go
to a search engine and enter the type of real estate you are looking
for, along with the city you want to invest in. You never know what you
might find.
10. Put an ad in the
paper. "Looking for rental properties to buy," might be sufficient to
generate a few calls.
There is a lot more to
learn to do it right, but finding good properties is a good place to
start for rental property investment.
About
The Author
Steve Gillman has
invested in real estate for years. To get a free real estate investing
course, and see a photo of a beautiful house he and his wife bought for
$17,500, visit
http://www.HousesUnderFiftyThousand.com.
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