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| Rental Property Investment - Finding The Properties |
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.
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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 |
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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
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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.HousesU
nderFiftyThousand.com
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