finding a first deal

[Doug P.]

I am interested in rehabbing and I want to start looking for deals even if I don't pull the trigger.

I live in south FL (west palm beach). How can I start looking for deals? I have 50k of my own money to put into this but would like to finance as much of the deal as possible.

Where do I look?

[Eddie Ziv]

Doug, ask yourself the following questions firs before you dive into property hunting expedition:

What is your end goal? Do you plan to flip or buy and hold (Rent out)? What is the price range of the property you plan to buy? what is the ARV (After rehab value) you expect for the property, or better yet, what is the percentage gain you expect? If you plan to flip, are you familiar enough with the local market so you know how much you can get for the property? If you plan to rent, what is the on going rental in the target neighbourhood and will it support positive cash flow at the end of the process? The answers to those questions will determine the target property and will prevent some mistakes down the road.
Ask as many questions you can think of. If you plan to flip and you targeted your area, talk to as many realtors as you can to get the feeling. If you plan to rent, talk to some property managers in the area for the same reason.

Good luck.