How to find highest value rentals

[Joshua Steven Ferrell]

Hey everybody, 

I was hoping to get some advice from some of you seasoned veterans here.  My portfolio is made up of 3 rental properties and i'm ready to get my 4th.  I am strictly residential real estate right now.  So I don't have a bonified strategy or niche yet, but my gut tells me to keep doing just common residential real estate for now because it's what I know and what has been successful for me thus far..  My question is this... how can I find the best value?  How do I find the best deals?  How do I know if it's a great deal?  What am I measuring to benchmark how good of a deal a certain opportunity is?  

I mean, I am open to buying a peace of property anywhere in the south eastern United States if it's something that's going to be a great investment.  My other 3 houses have worked out wonderful and all are generating great profits, but there was no science to it other then it felt right.  I am trying to be more calculated from here on out!  Does anyone have tips for me?  Any and all advice is appreciated.  Thank you!!

[Dustin Allen]

@Joshua Steven Ferrell

I agree with @Jaron Walling here. You should be doing some sort of evaluation before buying a deal.  The good part is, you can go do autopsies on the three you already bought and I’m sure you’ll notice a pattern. Figure out what you did with those 3 properties and you’ll have a more technical explanation of what “feels right” looks like.  Then you can go look for new properties that fit your system.

Run all 3 of your current properties through the Biggerpockets buy and hold calculators and you’ll get some good data back I bet.