There are two main categories for residential income property:

• Rental property
• Fix and Flip

Deciding on which of these categories you fall into is the first step.

The second step is to identify the town(s).  If you are looking for rental property, I can set up a search for you strictly for rental listings, sold and active.  It is important to get your finger on the pulse of the rental market.  Going to visit neighborhoods (the drive by) and going to open houses will help you get a feel.  This way you can narrow your radar screen and avoid wasting your time.

If you are thinking of purchasing a house to fix and flip, I advise finding a contractor who you will be using before you find an interesting property.  With the contractor identified, you will be able to bring him/her to the property before making your offer so that you can get a general quote on the necessary improvements/repairs.  This will inform you as to how much you would want to pay for the property.

Regardless of which category you choose, we should set up an automatic search so you will begin to get alerts when appropriate properties come on the market, when they go pending and when they sell.

Here are some useful links to get you thinking: