• Use a local broker to find the best investment property deals
  • You can spend your time going to local auctions or scouring foreclosure Web sites, but the best deals are usually found by a shrewd local broker. Today’s most successful investors rely on one or two smart brokers to ferret out the best deals in town.

• Find what can you afford
  • Get pre-Approved with a reputable lender this will help you understand what you can afford

• Down payment for Rental Property
  • The down payment on most investment properties for a Conventional Loan is 25% of the value.
  • Arrange for the necessary down payment before you start scouting

• Property Management (If you are managing it yourself)
  • It is always a good idea to find properties with in 30 miles of your home only if you are looking to managing it your self
  • If you are going to have a professional company manage it then the radius from home is not a factor to consider

• Location, Location and Location
  • Look for areas with good location, Good School Districts, lower property taxes and low HOA
  • Neighborhoods – Neighborhood with low crime rates, Steady Job Market, Life style amenities like – Restaurants, malls, Theaters are desirable

• Zoning Regulation
  • Look for Zoning regulation that may alter the desired use of the property in future

• Average Rent
  • Know the Average Rent in the area and your Mortgage numbers

• Property Insurance
  • Pay attention to any additional insurance such as Flood or any additional insurance that may dilute your gains.