Geez... my realtor threw 111 MLS listings at me

[Bryan N.]

What is the best method for begginning to filter all this data. My thougts were:

1) Calculate mortgage based on purchase price and down payment

2) Apply 50% rule

3) Determine "potential" cash flow

4) Physically check location

Then work from there (real expense numbers/any rehab/ etc).

Any other thoughts?

Thanks

[Scott E.]

Bryan

If you're just getting started, spend time reviewing all 111. It'll take you a while, but it will get you a good feel for everything happening in your 3 areas in your price range. If your realtor set you up on a "drip system," then going forward you will only receive listings for new properties coming on the market or price changes. It will probably only amount to a few properties every other day to look at.

The big dump when you first get your criteria set up with your agent is overwhelming, but it gives a great opportunity to study inventories and get a better grasp on your target market.