Without looking at deals and analyzing them, you will never be able to buy ANYTHING!
1) Define where you want to invest.
2) Define your parameters. Each city is going to be slightly different in terms of the price you're looking at. And depending on your investment preference and the information you've gathered, you want to try to invest in a house that's desirable and easily rentable; unless your goal is to do a quick flip.
So here's what I would zero in on:
- Condo - 2BR, 2BA
- Townhouse - 2BA, 2.5BA
- Single Family - 3BR, 2BA
- No rehabs.
- Requires light touchup or "lipstick" work. (Read my other blogs to find out what this means).
4) Contact a realtor in the city you're interested in investing in and get onto their distribution list.
5) Once you've found something that fits your parameters, you then want to ask for all the expenses associated with purchasing this place, and the rent you can anticipate to collect for that property. With this info, you can then calculate and see if this property positively cashflows. If it does, then make an offer!
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