Getting to Know Values in Your Farm Area

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Once you've picked out this farm area, one of the things you want to do is drive through it regularly so that you can get to know it. Take different routes so that you go through all of the various streets and get to know the neighborhood.

In addition, we want you to go out and take a walk or ride your bike in this area. You can see things when you're moving at a slower pace that you're not able to see as you're driving through it.

What is it you're looking for? You are looking for any clues that reveal potentially profitable deals. The best clue is a vacant house. When you see one, write down the property address and do some research to find out who owns it and how you can contact them.

Next, be aware of "for rent" signs. Any time you see a "for rent" sign in your farm area, write down the phone number and address of the property. Follow-up with a phone call using the "For Rent" Quick Check script.

You are also on the lookout for any property with "for sale by owner" signs. Jot down the number and call the owner using the "For Sale" Quick Check script.

one way in which you can get to know your farm area and spread your name throughout it is by handing out flyers. Print up a flyer like the sample you saw on page 93 of this book. (Remember, the number is going to lead to your 24-hour recorded message.)

If you meet someone as you are walking through the neighborhood, have a quick conversation with them about the area. Let them know that you buy real estate, and that you even pay a finder's fee for leads that turn into deals. Also make sure that you ask them about market rents and property values in the area. These people are a hidden source of valuable information many investors overlook. You are beginning your education about values in your farm area. Over time, you will become an expert on this location.

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