“Partner” with
other investors/clients to get into great real estate deals
§
Take a class on
investment property
§
Learn how to
analyze income properties. If you are in
the Los Angeles area I recommend Marilyn Cohn’s Investment Analysis classes (www.marilyncohn.com).
§
Join an
investment club in your area; it’s a great way to network, and they often offer
classes.
§
Create a
“non-owner occupied” farm area. You can target not only the owners of the
properties to list their rental or sell them another; but also you can mail to
the tenants of these units for first-time homebuyer opportunities.
§
Host income
property seminars in your area. It’s a
great way to meet potential clients. You
can speak yourself, or you can organize the event and bring in experts such as
lenders, attorneys, and successful investors.
§
Farm
Foreclosures. Many people think this a
get-rich-quick market, but the foreclosure market can be time consuming. You need a great system to track these properties
and get in touch with the owners before they go back to the bank.
§
Farm expired
income property listings.
§
Create a monthly
or quarterly newsletter for owners of units.
§
Create a website
or a page on your website dedicated to information about income properties.
§
Be a resource
for your clients. Provide them with rental agreements for their tenants, offer
to run a credit check on potential tenant, offer to advertise their vacant
rentals, know a great electrician, handyman, painter; anything that will help
your clients.
§
Know area laws
and restrictions governing rental property. Do you have Section 8 available in your area? Is there rent control? Etc.
§
Learn the market
rents for your area(s) and type(s) of property.
§
Create a niche
and become an expert in it: apartment buildings; 2-4 units, vacation rentals,
commercial; etc.
§
Keep up to date
on changes in the laws or developing areas that will affect your clients.
§
Buy some investment real estate for yourself!
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