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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