Where to find income property?

[inishowen]

For me, I wouldn't buy anything I couldn't drive to within a half hour. Although I do own one property that's 50 minutes away, and honestly, it's a pain in the ass everytime I have to go there.

Here's a very simple plan. Concentrate your efforts in your area where the people with good jobs and good incomes like to rent. Familiarize yourself with what multis have sold for/are listed for. Know what the average one and two bedroom units rent for. Learn what the tax rate/thousand assessed is. Get an idea where the price point is per unit to break even or make a positive cash flow. Look for discrepancies in price or rent roll. Dig for the cherry property, then dig some more. Be willing to approach owners directly. Negotiate hard.

Every property is owned by someone. Some of these owners want to sell but for some reason they just haven't made the decision to put the sign out.