Enrichr - Real Estate

Investment Property Quest - Day Four

Sat, 28 Jan 2006 14:05:48 -0800

Yesterday I was able to find some better resources online. Turns out that for this area there are three good online resources I've found so far. The first one I found a couple days ago--an MLS system called REIN that lets you view listings online and subscribe to get updates when new listings come out. I don't know yet what the deal with it is--if it's the full MLS, how often it's updated etc. etc. Yesterday I also found the "normal" classifieds for the two major newspapers online where FSBO's (for sale by owner) are listed and where realtors advertise. It was kind of a maze to find them online since I kept getting redirected to the REIN system.

Investment Property Quest - Day Two

Thu, 26 Jan 2006 19:24:30 -0800

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.

Investment Property Quest - Day One

Wed, 25 Jan 2006 19:24:35 -0800

Today I made the decision to stop over-analyzing and fulfill my goal to buy an investment rental property to generate cashflow and take some action. I plan on documenting the steps I'll take to buy the first property here on Enrichr.com so others who are interested, but haven't taken action can learn from my mistakes, and hopefully success. I'm guessing the process will take about 3 months since I'm pretty deliberate in my decisions.