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Updated about 13 years ago, 10/11/2011
Getting to know area by seeing 50-100 properties?
Hi,
I have a little experience in multifamily, but am interested in single family homes that might work as rentals.
I read Mike Zuber's BP article, "What Would You do if You Were Starting to Invest in Real Estate Today?" in which he says to start out in an area, one needs to see at least 50 properties to get a feel for market values/rental rates, etc and to begin collecting data on an area.
I don't have a problem with pounding the pavement and doing the research, but I'm wondering what this entails. Does it merely mean finding properties and driving past them and researching comps and rental rates on your own? I assume it does, but. . . .
. . . does the researching of all of these properties require a visit inside with a realtor etc? I would prefer seeing the properties inside and out, but what realtor is going to show me all of these properties? I'd feel like I'm wasting his or her time. . .
What's the preferred method? A combination of the two above by working on your own and with a realtor from time to time? I'm probably missing something here! Thanks!