What is the best way to research house prices and then find if that investment is profitable through renting?

I want to buy a house and then make money through rent payment. What is the best site resource to do this through? How should I research it?What is the best way to research house prices and then find if that investment is profitable through renting?
There are three parts to your question.

1. You need to educate yourself on RE investing including learning contracts, negotiations, property management, area investigations (due diligence), and many other items. Read books, get a mentor (a true successful investor currently making $ full time investing!), attend RE investing clubs (be careful not to get sold on their overpriced educational products they push), and practice researching areas and making offers.

2. You need to develop a plan/strategy that fits within your comfort level, financial capabilities/risk tolerance/goals and long term plans. That being said, identify if you want to be a "hands on" landlord (self-manage, self-repairs, etc.) or invest utilizing a more turn-key approach (build a quality team of pros such as prop. managers, agents, handyman, etc).

You also need to identify your goals as earning cash flow now, or investing more for speculation which would involve purchasing a potential appreciating property over time.

3. Learn how to financial analize different investments and learn the difference between "good deals" and "bad deals". You must know all the expenses associated with each particular investment including mortages, taxes, insurance, property management, vacancies, repairs/maintenance, entity formation costs, administration costs, and much more. All of the costs vary depending on the type of investment you choose. My rule of thum for cash flow is a minimum of $100 per month, per door. Depending on where you live, this can be very difficult if not impossible like CA or FL. Howevever, there are a few states in which this can be done on a daily basis.



Good luck and do not ever give up. Starting out in this business is an emotional roller coaster and only the determined %26amp; educated survive. Feel free to email me with more questions.What is the best way to research house prices and then find if that investment is profitable through renting?
There are lots of sites to help you along your way, but I don't know of one specific to your question..However, If you've never owned a rental before, I'd suggest speaking with people who have some, and who have been successful with it to get advice. I don't know what city/state you are trying to invest in..that can make a huge difference. Buy in an up and coming area, with new infrastructure under construction (homes, businesses, etc..) that way you will have better chance for appreciation. Look at what other similar size homes are renting for in that area to est the rent you could charge and then compare that to an approx mortgage pmt + taxes + insurance + maintenance. Duplex's or multi unit properties can be very nice, b/c if one of your renters leaves, you still have the others paying you...helping you pay the mortgage. A Realtor can be very helpful also...a good one will point you in the right direction/areas..and can help with buying foreclosures and REO's.. Good Luck $$