I don't plan on posting an update every day on this, but I thought I'd list what I did today:
- I bought a map of the area to mark where I've been and what houses I've looked at. I'll use this to get a feel for property values and rental prices.
- I read chapter four on real estate in Multiple Streams of Income to get some ideas on how to finance the property once I find it. The chapter also had some cool charts with questions to ask sellers and a way to rate properties on investment potential.
- I browsed the email I got yesterday with sample properties from the realtor. None of them fit my criteria.
- I found the online real estate listings for my local newspapers to begin scanning them looking for "motivated sellers." Conviently enough, they offer MLS listings there too--though I'm not sure how complete the listings are.
My next goals are to meet with a broker I know to get more advice on where to start, finish my real estate agent license (I also studied that for about an hour today) and meet with some lenders who cater to investors. I have a few in mind and I plan to search the phone book for others.