Top 10 Methods To Find Your First or Next Rental Property

[Wale Lawal]

Finding a Cash-Flow Property in some market can be very challenging, below I gave a quick highlight of my top 10 methods to find your first or next rental property.

1. Network with Few Local Investor-Realtors - Make sure they are also investing in the niche you want to invest in so they can better advise you on the tips and tricks of the market.

2. Identify few local property managers - Let them know that they will be the one managing the property if you acquire it through them. This way, they will give you their best advise because they don't want to manage a property with a bunch of issues either.

3. Get on few local Wholesalers Cash Buyers List - Make sure to vet the wholesalers carefully as wholesaler are known for inflating After Repair Value (ARV) which can be a major deal breaker. Shout out to all the honest and Rockstar wholesalers.

4. Drive for Dollar - This is a very simple driving around the neighborhoods you will like to own a rental property (you can use an App) and look for any property with tall grass, bushes, abandoned house etc. then skip trace the seller(s). Look out for “For Sale By Owner” signs. This is a very slow way but it works. You can also offer someone a finder’s fee. There are people that always seem to hear about the good deals. Have such people coming to you.

5. Buy Vacant Property Lists and market to sellers directly yourself - This will cost you some investment upfront and consistency is the rule of the game.

6. Attend Local Real Estate Investment (REI) Meeting and Network - Other investors may have deals or opportunity they will like to pass-on to another investor. This may be because they have another ongoing project(s) and can not take down the deals because of limited funds and time.

7. Through Family, Friends and Neighbors - Tell everyone you are an Investor. You never know who they know that need to sell their house. 

8. Find old “For Rent” ads. Call if they are a few weeks old. Landlords are often ready to sell, especially if they haven’t yet rented the units out.

9. Talk to bankers (REO experts) and also attend court-house foreclosure/auction. You might get a foreclosed-on investment property cheaper if you buy it before they list it with a real estate agent.

10. Put Ads on your local Public and Private Facebook Group. “Looking for investment properties to buy,” might be sufficient to generate a few leads directly coming to your email. 

I'm sure there are other creative ways. Please drop your comment and let me know which one is currently working for you.

Thank you and let's help one another to grow.