If you want to know where the best places to buy rental property are, it is time we had a talk. I have helped people all across the country to make money investing in real estate. And I can assure you that location is not nearly as important as some gurus make it out to be.
Since most of us are just your average Jane and not some huge multi-national corporation, our goals are usually simple. We want to make enough money to get out of our soul-sucking jobs. Or we want to help our spouses to leave their workplaces to be able to have more time freedom, too. We need enough money to live comfortably and save for our legacy or retirement, or both.
Most of us just want to be in control of our lives again, and that is AWESOME. So, when it comes to location, don’t sweat it. I can assure you that you can find the “best places to buy rental property” right where you live.
What are the Best Places to Buy Rental Property for Investors?
As I said already, I have helped hundreds of ladies build successful real estate investing businesses all around the country. So, while some areas may be exploding faster than others, it is possible to make great money everywhere. But, you know how to set up your deals right.
What do I mean? You need to know how to run the numbers and work with qualified sellers who have what you are looking for.
I don’t work with just any ‘ole seller, y’all. It is important to have a series of questions for potential sellers to make sure it’s a good fit. I structure my deals using creative financing options, like lease options and seller financing. So, I prefer to work with a select group.
Now, that is not how you have to do things. But I have found it to be the easiest and most fool-proof way to get deals done FAST and build great passive income.
What do I mean by passive income? Rental properties are amazing when it comes to growing passive income. I am not going to get into that much in this post. But you can find out more about it here and here.
When you want to find the best places to buy rental property, you want to think about the kinds of places in your area where people rent more often.
Or, the kinds of properties that tend to rent out more easily. No, I do not mean you have to go buy a huge apartment complex. But you want to at least understand the various options that exist in your area. It’s important to know the general rental prices that people pay for different property options.
You need to be a savvy investor. Do not overlook the importance of doing some research to know how your area works.
Once you understand the general way that rental properties work in your area, you want to then start your search for properties. I do this a few ways, but my absolute favorite way to get started is always driving for dollars.
This is where you simply drive around your area to find what you think would be the best places to buy rental property. Do you see some run-down, vacant houses in a pretty nice neighborhood? That might be a great house to look into. Are there properties with “for sale by owner” signs out front? You may want to follow up with that property.
Ideally, you may even find an area with several potential houses all right near each other. I like to call this a “honey hole.” Those are GEMS.
In addition to driving for dollars, I teach all about my other methods in the FDDF course. There you can find out more about sending yellow letters to potential properties, using Facebook, Zillow, Craigslist, etc. to keep your pipeline always full. This is my premier course for new investors to grow their income quickly and get deals fast!
There are a ton of great ways to find the best places to buy rental property and you don’t have to move across the country to find them!
I know that some areas of the country might be considered “hot spots”, but your area has its own version of that, too. Don’t be misguided and let doubt take over. You CAN find great deals right where you live and make an amazing income. Now, get out there and find them!