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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