Be critical about each property, and ask yourself questions about why tenants would want to live there and why they wouldn’t. Set up a journal, and keep notes on the different properties you see, your thoughts on why they may or may not be a good investment, and of course the prices being asked. This will develop into an invaluable resource.
When you have viewed properties, don’t just forget about them but keep an eye on them, if and when they come onto the rental market. Do they let quickly or stay vacant for months? What sort of rent is being asked? Too much or too little in your opinion? Add this information to your journal. Also check which real estate agent the property is being let by—some agents are better than others, and when you are looking to market your properties you will want to use the best around. If the property has been renovated, make an appointment to see what’s been done.
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