Buy and Hold

[Kevin Galus]

What the best ways, in your opinion, to find single family homes. I am looking to buy and hold, but looking for great deals? Any tips ?

[Joel Owens]

Define what in your mind is a great deal and then see what buy and hold rentals are trading for in your market compared to the rents.

If rent ready places are selling at higher price to rent ratios then you want to pay then you might have to invest outside of your area or pick up a fixer at a lower price and put money in to make it rent ready. That way you might arrive at the price you want to hit your goals.

Example you find that in the area you want to buy in houses are trading for rentals ready to go at 90,000 for 900 in rent. You want 900 in rent for 60,000 all in. So you find a property needing a decent amount of work for 50,000 and put 10,000 into it for your 60,000 all in for 900 rent.