Hi Everyone,Im a new investor but am very interested by finding emerging market 'hidden gems' -- think lots around up-and-coming Colombian beaches kind of thing., or land with phenomenal views, or country land that will soon be connected to the closest city by a new tunnel/ highway, etc.My dream would be to be sourcing these types of deals and helping connect investors in the USA to these opportunities abroad.  

I, for instance, look for properties that are 1970 vintage and newer, because older properties tend to have higher CapEx.

Not everything in there is a good deal, in fact, a lot of it is real junk, but apparently, there are some gems in there according to a friend.

It was an eye sore but i knew it was a gem.  

How much those units will affect the AirBnb and VRBO markets is yet to be seen but my guess would be that during peak seasons (UofA home games, gem show, ect.) you can expect to see lower occupancy than the past or potentially need to lower rates to compete.

Are you having any luck finding any gems in Spokane?

Welcome,always nice to see another member from Tampa on board.This is a great time to begin in Tampa,there are still plenty of under priced gems in certain neighborhoods here.Besides all the great information here on BP I recommend looking at a ten year price chart for each house your interested in and see what they were selling for(or the estimated value) in 2006-2007.Some free realty sites like Zillow include charts,estimated sale and rent value.They are very rough estimates though that are within a 20% margin of error,there are plenty of errors but it is helpful to gauge the sentiment in the neighborhood. 

If the cost to build new is $200K a unit, it's easier to get comfortable buying a 1980's vintage multifamily property at $130K a unit, even if its features are not the quality of new construction.Before making a loan, a bank will consider DSCR, your balance sheet, and all three approaches, and anything else they can find to be worried about- because that is their job.

Between that gem and the guy recommending a net listing I just have to laugh at some of the "advice" on this site.

similar to numerous people John represents, it’s extremely difficult to compete against local people that have all the tools and knowledge unless you have someone right on top of everything.My approach is similar to what Amber said, I look for hidden gems and opportunities to turn something into a cash flow cow that hasn’t been realized.