World Wide Web – The web can offer a great resource of listings around your area that never even make it into the published real estate ads. If you search around you will be able to find real estate internet sites that cater to your local area. Often times these sites will offer a broad selection of properties. With a broader selection there is a greater probability you will be able to locate an investment property that is attractive and has the potential for strong returns on the new cash flows.
Networking – Sometimes finding an investment property is like finding a new job. You must rely on your network of friends and family to assist you in finding what you are looking for. Often times your friends and family can prove the best resource in being kept up to date on hot investment properties. They know their local areas the best and can give you the lead on a hot property before it hits the market.
Scour the Hot Areas – If you are going to invest in the hot areas of your market you need to find the hot areas in your area. A lot of times the best way to find these areas is to jump in your car on Saturday or Sunday afternoon and drive around your area. Be on the lookout for areas which feature a lot of development and new housing projects. You should also be on the lookout for areas with for sale signs. Check out these investment properties as they may be the next great cash flow opportunity for your investment portfolio.
Finding a good investment property that will offer a strong cash flow is all about exploring as many avenues as possible. As you invest in the real estate market you will find that coming across hot investment properties is as much about doing your due diligence as it is about rubbing shoulders with lady luck.