13 steps to find a property for rent in the United States, without leaving home

13 steps to purchase properties in the United States remotely

13 steps to find a property for rent in the United States, without leaving home.

Prerequisites:
1) Find the target area where you are looking for assets, There are attractive areas in the United States for different types of deals: Florida, Georgia, Oklahoma, Cleveland, Baltimore and of course Texas, and probably other areas I did not mention. There is no such thing as a right area, just decide on the area that looks best to you, and focus on it.

2) You will find a way to obtain a current flow of assets in the area of ​​your choice - You can physically search Craigslist for properties that are advertised that day, you can find Wholesalers who sell deals below market price, or you can find a lawyer who will go to the municipality for you once a month and buy you foreclosed properties… In the game. Whether you want to fly here from Israel every few months, or you find someone who will work and find properties here for you, you will decide on a way of working, come on.

You got a property from one of the sources, what now?

3) When we are looking for long term rental homes, we will ask the following initial questions: Area size? Home size? how many rooms? How many services? Year of construction? And price?

4) We will look into a rental horizon and try to understand what the full potential of the place is. There are huge areas of demand for one-room apartments, so it is worthwhile to split properties to increase the rental return. There are areas where the demand for large homes with many rooms is much larger, and splitting the property can significantly impair the value of the home.

5) A high rental yield can indicate a high crime rate, So the next check will be a recent look at all the crime data that happened in the area of ​​the property over the past few months. We want to avoid areas with lots of small crimes, or areas with violent crime.

6) We will determine the level of schools in the area: Elementary, Intermediate and High School. On a bar of 1 to 10. We will usually look for 5 or more.

7) We will examine the extent of the risks That are placed on us by nature. And make sure they are minimal.

8) We will get demographic snapshots: What populations live in the area? What ages? And what is the average income?

9) Let's look at more advanced data - What is the value of the average house compared to the average income? What is the level of animals from 1 to 100? What is the unemployment situation? What is the percentage of properties rented in the area? Does the municipality make it relatively easy to obtain building permits? What is the cost of construction in the area where we are building? What nearby industries are there in the area? And many more questions…

10) We will include all the data we examined in a methodical and simple process, the Excel table that we prepared in advance, and we will see how the deal looks for us.

11) We'll send our field man, or we'll get to the field by ourselves.
Traveling or walking in the neighborhood and surrounding streets will help to understand the character of the area. And we must verify that rental rates, home value, and neighborhood potential match the standard of living on the ground.

12) An in-depth overview of the home, and an initial planning of how we will change the property, how we will renovate the property, what we will add to the property. And how much that should cost us.

13) Women bid on the property, and hope it catches on.

Happy holiday! And thanks for reading 🙂

See you in tomorrow's last post

Link to the original post in the United States Real Estate Forum on Facebook - Works on a desktop computer (To view the post must be members approved for the forum)

 

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