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Updated over 2 years ago on . Most recent reply
During Analysis - How to Quickly Eliminate Potential "Deals?"
Hello, I am looking to acquire a long-term rental in Southern California as my first investment property. However, as a beginner I have been a little overwhelmed because I am not 100% sure what to look out for when my agent sends me listings. Sometimes I see a home that seems to be a good deal but has been sitting on the MLS for a long time and I can't always figure out why. I have been using price-to-rent ratios to quickly rule out properties that aren't worth further analysis. Aside from this, what are other red flags I should be keeping in mind? I have been told many things such as to avoid homes being sold "as is," avoid HOAs, avoid buying flips, etc. When analyzing rental properties, what are some automatic deal-breakers for you?