This will help you
determine which properties fit into your investment goals. As an investor you are a real estate
professional and to be successful will need much of the same type of research
successful real estate agents do for their clients, such as:
§
Research to
learn the best areas in which to invest, and learn the inventory.
§
Research the
market rents for your area.
§
Research local
laws governing rental property such as rent control
§
Learn more about
Section 8 in your area, or other assistance programs.
§
Attend classes
on rental property analysis; if you’re in the Los Angeles area, I highly
recommend Marylyn Cohn’s Investment Analysis class, www.marilyncohn.com
§
Find a good
investors’ club in your area. This can
be difficult, because there are numerous low quality clubs out there; keep
looking until you find a professional, quality group with whom you’d like to
network. These clubs often offer classes
and seminars on investing.
When searching for properties, you may need to be
more aggressive than simply waiting for something you like to come on the
market. I occasionally mail directly to
owners of properties I’m interested in. You can also have your agent send out cards on your behalf.
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