Research and Find Real Estate Investments
Why do you need to find real estate investments through proper research? First of all, there are lots and lots of properties out there, from the suburban area to the city. The population will always need to live somewhere.
Since you are investing for the cash flow, it is important to find the right property. You won't do any good if you find a house that cannot covers the mortgage payment by the rental income.
So the next step is to research and find houses that you are comfortable with. Start with these questions in mind...
a) What type of houses should you buy?
b) What is the price range that you are targeting?
c) Which area you want to start looking?
As property investors says "real estate is a numbers game", the more you dig and find, the better the chances of you locating great bargains.
According to the book "Real Estate Riches", which is a great book by the way
(you can read the book review here)
, Dolf says that you should follow the 100:10:3:1 rule. The rule means that you look at 100 properties, make 10 offers to the seller, which 3 out of 10 offers are accepted, and finally buy the one that has the greatest offer.
It is like an inverted pyramid, narrowing down to the good properties and then select the best.
Here are some good articles that you can read on how to
find real estate investments.
11 Great Tips on How to Find Investment Properties
Start looking at Junk Properties in Good Neighborhoods