Researching multi-family property investment opportunities in your area will be an intense and time-consuming project.  But it can also be profoundly educational for both new and experienced investors.  How can you find good multi-family investment prospects in your local area?

• Don’t just look at ads for apartment properties for sale; also educate yourself about the economy and demographics of the area.  The local business and employment growth or retraction; the ratio of renters to homeowners; and the ratio of available rentals against the demand – all these statistics and more need to be understood.  This information will help you narrow the list of properties worth your consideration.

• As always, some of your best sources of information on available properties are word of mouth and real estate organizations and publications.  Organizations for real estate professionals, contacts close to city planning, friends and business associates, all can help steer you to potential opportunities – and warn you away from pitfalls.

• Evaluate properties every day.  Stay in touch with new opportunities by continuously gathering data and visiting properties.  Sellers provide basic information, but remember to check with the property management company and perhaps a professional building inspector.

Keep looking!  Many potential project properties will fall short based on profitability ratios, location or other factors.  Keep in touch with your property information sources – advertisements, real estate professionals, experts in related fields and community contacts.  Your next project is out there waiting for you to find it!

For more information on how you can escape the rat race for good and create lasting, generational wealth with real estate, download my FREE ebook, “How to Find Underpriced Properties: Secrets for Creating Wealth with Real Estate in ANY Economy.”