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...
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