Show157: How do I find good deals on rental property?

good deal on rental property

7th Day of Christmas….How do I find good deals?

Guess what….I love to travel.

IT’s my passion…it’s my jam.

So I subscribe to many different email newsletters dedicated to travel.

Travelzoo, Sherman’s Travel, Hotel Tonight, you name it I’m on it.

And I don’t just let those email go to my junk email address and not read them

I know what days those emails come out every week and I look for them in my email inbox week in and week out.

WHY?

Because I want to see what the deals are this week.

Are there any that we want to jump on and schedule for the upcoming year.

I once was able to get Kirk and I RT flights to Denver for about $170 per person RT. I rarely see that go that low…if every anymore.

And guess what….the day I saw that deal…

I booked the flight.

Again Why?

Because I knew that it was a good deal because week in and week out I’m watching what trips are going for, what flights are going for.

I monitor the travel sites and emails so I’m ready to jump on the deals when they come up.

GUESS WHAT…

This is exactly what I do with real estate investing too.

Once you take the time to learn your market and complete a market audit where you’ve been watching for listing prices, closed sale prices and rental prices….

…you’ll be able to keep your eye open for emails from your agent or scroll through the Zillow app to see what’s new for sale.

And when you see something pop up that seems like a good deal…

you’ll be able to jump on it.

Without having to spend a few days researching and running numbers.

Because you’ve done the work in learning your market you can run a quick less than 5 minute analysis on the deal to see if it’s worth calling about, viewing or even making a quick offer.

The same concept I use with travel and booking trips and flights applies here.

It’s all about learning your market and keeping a pulse on what’s going on.

And I mean a weekly pulse.

Not that you did some researching two months ago and knew what it was like and now a few months later you’re trying to determine deals.

I’m saying keeping tabs weekly on what is happening.

Watching…

Monitoring….

And when you see something come up you’ll be ready to grab that great deal.

So when I get asked how or where do I find great deals.

I always say well how well do you know market?

If you don’t know your market you’re not going to be able to find great deals very quickly