Identify and Research Candidate Properties
Call Sue Goldthorp on (321) 698 5198 and explain your investment goals. She will help identify potential properties that will meet them. You can also search Loopnet for commercial properties and Realtor.com or Zillow for residential listings. Once you've identified a potential property we'll help you query your local county court and tax records to find additional information.
- Research the rental market in your target area. What kind of properties are easy to rent? What's difficult to rent? How long do properties typically remain vacant? Are there any "price points" that are particularly attractive to tenants (e.g. single family homes for less than $900 per month or office accommodation at $15 sq ft)
- Research property values by examining listings and recent sales.
- Identify and review potential properties to create a short list.
- Arrange property viewing. Take a digital camera and a notepad to record impressions of each property.
- Estimate the income potential and any repair costs for each property.
- See if you can talk to the current tenant if the property is rented. Would you be happy doing business with them? Are they happy in the building? Does anything need fixing?
- Identify one or more candidate properties.
- Find the tax record and legal descriptions for each candidate property. How long has the current owner owned the property? What did they pay for it?
- Is the property zoned correctly for it's current use? Does the zoning allow other uses? Are there any planned developments or zoning changes nearby? Could these affect the value of the property?
- Check county court records for the current owner. Are there any lis pendens (pending law suits) recorded against them? These could be an indication that the property is going into foreclosure. Identify the value of any loans that the current owner has secured against the property. How many tenants has the current owner evicted from the property?