Take pictures and videos of the property, do not trust your memory, you’ll have a lot of things on your mind. Just snap a picture or better yet take a quick video and store it in the cloud. Aerial pictures of the property are smart. You can get aerial pictures on Google earth or you can use a drone, which is what we do. One creative way to measure tenant demand is to run an ad for one of the units on craigslist. The response will help you see how easy it will be to run out these units. A high volume of response will indicate that the rental rate is too low. Most of what I have shown you above about due diligence was learned by me from real estate investment expert Rod Khleif. I highly recommend you explore his training and books at www.RodKhleif.com
HOUSE FLIPPING HINTS
You’ve likely heard of HGTV’s show, “Flip or Flop.” Obviously, the goal is to successfully flip properties (make a good profit). But the reality is that sometimes flips do turn out to be flops (no money made, or maybe even money lost).
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