Where to find best opportunities to buy in my area!

4 Replies

I'm still new to learning everything, and this may have already been answered.  Where can I find in my area (Southern California) where the best neighborhoods to buy are?  Also, how or where can I analyze the cost of the property, how much I would need to put into the property, potential rent and or comps in the area to determine if this is a good deal?  I understand for comps I would need to understand the neighborhood and the homes that have been sold or how much properties are renting for.  

Any insight where to start with this is greatly appreciated!

Use redfin to find homes for sale/sold. It's got faster and more accurate data than the others.

use hot pads,craigslist, rentometer, truila,zillow to get an idea of what rent would be. Word of caution no way to know what things actually rent for with most of these... it's just to give you a rough idea. If you want a better case of what something rents for... look up property management companies and use their listing to get a "more" accurate idea.

Financing is typically going to be 20 (best case)- 30% (worst case) of purchase price.

Potential rent look at zumper.com. Really depends on what price range you are looking at. A property that you can value add to I my opinion would be more north County

@Matt K. thank you!  Yes, I've been looking at Redfin & Zillow.  Thank you for suggesting property management companies.  Great idea!

@Jo-Ann Lapin thank you for suggesting zumper.  This is the first time I heard of that site and I'm excited to look into it. 

Connect with other experienced investors in the area- there are plenty of options for local reia clubs to meet people and most are more than willing to share what they know with you- don't be afraid to ask.  

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