by Jesse Davis
There are times in your life when you have to make decisions that others may question you on in order to change your future. That is the case with many investors who want to build a rental portfolio or invest in real estate but their market is so crazy that a 2/1 shack is 200k or the taxes are so high that getting a positive cash flow is just not happening. So what do you do? Search for properties in another area or even another state, which are affordable and give you positive cash flow.There are plenty of areas that the news never talks about because they don’t have 50 percent appreciation in a year. They simply steadily grow at a measly 3 to 5 percent, and guess what When the Bubble burst they also didn’t have 50% depreciation in a year. In fact, they just hang out and many people just don’t even notice.So what are the keys to finding a stable area that won’t blow up or down? Here are 7 steps to finding out your area properties to invest in.1. Search for areas that have a strong rental market, an area where a good majority of houses are owned by investors who are renting property. This will tell you that the taxes are low and the rent rates are high enough to attract investors who want cash flow.2. Look for the areas that other out of state investors are buying in. Google is one way that comes to mind. Craigslist.com is also a very good source. In fact, I think it is one of the best sources to find good deals.3. Once you find the area, talk to people there about the markets overall appreciation. Find a market that is just boring, one where no one really ever understood all of the hype about the real estate bubble because it wasn’t happening there.4. When you find the area that other out of state buyers are buying in, the work begins. You are not there, so someone will have to do your legwork. What is the best way to find the local deals? Find the local wholesaler!5. Just like a spy gathering intelligence, find somebody who is connected, who is the big dog dealer around, and try to get him on your side. That is what you should do to find the best deals in the area.6. Find out who are the hard moneylenders in the area. They will be friendly with the local wholesalers. Find the moneylenders, and you will find the best deal finders. They will be the ones finding deals and bringing buyers who need to borrow the money. Easy – just like a spy!7. Talk to the wholesaler in your area. It’s less work and much easier than working with realtors. Be sure you check and ask around, make sure he or she is the big dog, so to speak, running the volume-based business. They mark the deals up just a few thousand and move them so they can keep buying more properties. Besides, the local wholesaler is the one who gets all the best deals anyway. The one who is going to have all the relationships with the realtors anyway and get the 1st call on the deals.Overall the local wholesalers for the work they do – looking at hundreds of houses and making hundreds of offers to get their deals – are more than worth the measly mark up they make. Let them tell you who the best property mangers and contractors are, and they will help you get properties – quality properties – faster, so you can achieve your investing goals.Then it is time to get to work and do some deals, build your cash flow, and take charge of your future. Be Bold and Courageous, you won’t regret it!
About Jesse Davis:
The author, Jesse Davis is an expert wholesaler in the Jackson, Mississippi, Real Estate market. He has wholesaled over 80 properties this year alone, and he teaches a seminar on how to really be successful in today’s market. Go here to learn how to find all the buyers you will ever need to build a massive monthly income in Real Estate today
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