Finding the target property

[Scott Armantrout]

Let me start with a little background.  I currently own two rental properties, but neither property was bought with the notion that it would be rented out.  I bought and lived in my first property in 2006, and when it came time to move (I was active duty Army) in 2008 the housing bubble had already burst and there was no way for me to get out of the property without losing money.  My realtor suggesting renting it out and shortly there after it became my first rental property.  I had my second house built near Fort Leonard Wood, MO, in 2010.  I lived in that home until 2017.  I figured if I could rent one out, why not two.  And it's been a rental ever since.

Why does this matter? Well I never bought a property with the mind of an investor. I bought properties that I intended to live in. Now I'm retired from the military and want to be intentional with my real estate investing. The process of buying and finding a good property manager aren't a mystery to me. I'm very interested in how seasoned investors locate target homes for buy and hold, more specifically BRRRR strategy homes. Zillow, Trulia, Realtor.com and the like are great when looking for a home to live in, but I feel like by the time many homes make it to those sights, the investment property deals are already gone. How are you sourcing your deals? Do you have an agent sorting through listings, are you driving the neighborhoods yourself. Let me know what your methods for locating properties is.

[Nakia Addison]

Hi Scott! I would also recommend an real estate agent so that you can have access to the MLS. Therefore, your agent can send you specifics of your search criteria for properties consistently. You may even be sent hot listings of properties that would soon be listed.