How to Handle an Investor Purchaser Search:
Locate properties near his home. ( after he buys it, he doesn’t want to drive clear across town.)
For a particular subdivision, your goal is a low sales price, yet high rental price.
Using MRIS: Search low sales prices in your investors wishes. Maybe $100,000-$200,000 in Fox Croft Subdivision. ( ficticious)
Search Tax Record for Fox Croft and hit count. That will tell you the number of homes in the community. Maybe 100
Search again but search Solds for past year. Maybe 5
5 divided by 100 = 5%
Do this on two other subdivisions.
This is called turn over ratio. The highest percentage = the best place to market.
This goes for finding a farming area as well.
Now compare the subdivsions: Look at the Price range and the Rented prices.
If it Sells for $200,000 and rents for $800. per month. You have one study.
Now go to another subdivision and do the same.
If it sells for $200,000 but rents for $1500. per month. You have another study. And in fact you found the best investment subdivision.