Many people say that they are trying to buy rental properties that cash flow but they can't find the deals in there state or market.
For example, many investors that I meet from California who want to build cash flow and get the tax benefits of owning rental properties just can't make the deals work there because a small peice of crap house is 200k or more and the rents they can get for the houses just don't cover there payments.
Many areas where the real estate bubble burst and destroyed alot of the value do not provide the opportunities to build a rental portfolio but there are some areas in the US that were not effected as bad.
A great deal of the US has been affected by the bubbl bursting but many states never saw the extreme appreciation so when the bottom fell out they did not get devestated.
Here is a plan if you still want to build a rental portfolio.
Hunt for states that were not affected by the real estate bubble on the upside. They will not have been hit as hard when everything went down. They are the states and areas that just saw moderate appreciation when everything was going strong.
As you find the areas that you want to invest in talk to enough people and you will be able to find the guy that is selling a bunch of houses and there business will be based on volume. In other words for the wholesaler in the area who can expedite the process of finding you deals and save you time and money that you would spend trying to find your own deals.
as you find the wholesaler ask him who he knows that will lend money in the area, and who he knows to rehab the house and also the property managers in the area and take advantage of there experience in the market to expedite the time and effort that you have to make in order to find the right deals.
Check everyone out very hard so you know you are working with people of integrity and are not going to get screwed. Once you have found them then proceed on buying some houses. Most of the work will be done for you once you find the right people to work with.
I have known many investors who told me they could not find the deals that would work in there area so they went to another state or another market. They did not listen to all the naysayers who told them they were stupid and they did not let anyone stand int there way. After a few years of doing this they were sitting pretty and they where the ones laughing all the way to the bank.
The key is finding someone you trust. Buying good properties with good cashflow and staying aggressive. Once you decide to get out of your comfort zone and stop accepting excuses for not investing you will have the potential to change your future.
To qoute a famous company, Just do it. You will not be the first and definitly not be the last investor to figure out that if you want to be succesful and are willing to take some calculated risk you may find yourself looking up in a few years and realizing that they have changed their financial destiny.
The deals are out there just be willing to go find them, even if you have to go to another state. If you are willing and get off your rear and take some risk you will be in position to change your future. Good Luck!
For example, many investors that I meet from California who want to build cash flow and get the tax benefits of owning rental properties just can't make the deals work there because a small peice of crap house is 200k or more and the rents they can get for the houses just don't cover there payments.
Many areas where the real estate bubble burst and destroyed alot of the value do not provide the opportunities to build a rental portfolio but there are some areas in the US that were not effected as bad.
A great deal of the US has been affected by the bubbl bursting but many states never saw the extreme appreciation so when the bottom fell out they did not get devestated.
Here is a plan if you still want to build a rental portfolio.
Hunt for states that were not affected by the real estate bubble on the upside. They will not have been hit as hard when everything went down. They are the states and areas that just saw moderate appreciation when everything was going strong.
As you find the areas that you want to invest in talk to enough people and you will be able to find the guy that is selling a bunch of houses and there business will be based on volume. In other words for the wholesaler in the area who can expedite the process of finding you deals and save you time and money that you would spend trying to find your own deals.
as you find the wholesaler ask him who he knows that will lend money in the area, and who he knows to rehab the house and also the property managers in the area and take advantage of there experience in the market to expedite the time and effort that you have to make in order to find the right deals.
Check everyone out very hard so you know you are working with people of integrity and are not going to get screwed. Once you have found them then proceed on buying some houses. Most of the work will be done for you once you find the right people to work with.
I have known many investors who told me they could not find the deals that would work in there area so they went to another state or another market. They did not listen to all the naysayers who told them they were stupid and they did not let anyone stand int there way. After a few years of doing this they were sitting pretty and they where the ones laughing all the way to the bank.
The key is finding someone you trust. Buying good properties with good cashflow and staying aggressive. Once you decide to get out of your comfort zone and stop accepting excuses for not investing you will have the potential to change your future.
To qoute a famous company, Just do it. You will not be the first and definitly not be the last investor to figure out that if you want to be succesful and are willing to take some calculated risk you may find yourself looking up in a few years and realizing that they have changed their financial destiny.
The deals are out there just be willing to go find them, even if you have to go to another state. If you are willing and get off your rear and take some risk you will be in position to change your future. Good Luck!
About the Author:
Author: Jesse Davis is an wholesaler in Jackson Mississippi and has wholesaled over 50 houses in the past six months. For great cash flow properties and to get a free audio on Wholesale real estate in Jackson Mississippi
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