Watching property prices rise all around you can be discouraging for a real estate investor with a budget in mind. And even though there may be a cool down in the US housing market in 2019, real estate prices are not predicted to drop. They’ll only accelerate at a slower pace.
At this point, you’ve probably exhausted all the typical routes for finding cheap houses like auctions or chasing foreclosures. And you know the importance of NEVER sacrificing a good return on investment (ROI) just to get your hands on discounted property. That’s why every real estate investor needs a new way to find cheap investment property for sale. A way that will lead you to affordable real estate that can attract tenants, bring in rental income, and allow you to enjoy a good ROI.
So, if you’re ready to shed the traditional ways of finding cheap investment property for sale, let me show you 2 new ways that will save and make you money with real estate in 2019.
And brace yourself. These 2 new ways are powerful tools, but still, they’re tools. Unfortunately, scouring listings online to find affordable investment property just doesn’t cut it anymore. Even if you get lucky, by the time you analyze the property’s investment potential and are ready to make an offer, 10 other investors will be gunning for it. Maybe more. In today’s market, you need the aid of real estate investment tools, such as an Airbnb calculator, that simply remove luck from the equation and the first tool is the Heatmap.
Heatmap: The Ultimate Tool for Finding Cheap Investment Property for Sale
Never heard of it? Or maybe you have but you didn’t realize its hidden potential for finding cheap investment property for sale. First, let’s take a good look at what a Heatmap for real estate investing looks like:
Besides the map with the different colors, what will catch any real estate investor’s eye are the filters that can be applied to this Heatmap. Once you decide on the best place to invest in real estate for you (and it can be almost any place as this tool will still have the potential to find affordable property), these filters will help you narrow down the neighborhoods that have cheap real estate with a high potential to be profitable rental property.
The first filter to use would be the Listing Price. This will allow you to easily see which neighborhoods have very expensive properties compared to the median price of the city. These locations will be marked in green. The neighborhoods marked in red are ones with relatively affordable properties in the city of your choice.
Ready to try it out for yourself? Just click here.
Now, you’ve found a neighborhood with cheap investment property for sale. The keyword here is “investment property.” So, will this neighborhood also provide high rental income? What about cash on cash return? If you’re an Airbnb investor, will this neighborhood suit your rental strategy? That’s what the rest of the filters are for. You can keep adjusting the filters until you find a neighborhood that has all of the characteristics of a top real estate market.
Related: Heatmap Analysis: The Secret to Successful Real Estate Investing
The Next Step
It’s possible that the neighborhood still has a higher median property price than you’d hoped for. You have two options at this point:
- Search for neighborhoods in another real estate market. (Try choosing one from this list or maybe this one if you’re after an Airbnb rental property.) Because a neighborhood analysis takes almost no time with this tool, you can look up a few cities in one sit down.
- Bring your budget into play.
If you haven’t given up on this particular real estate market, it’s time to click on the neighborhood you analyzed with the Heatmap. Once you do that, you need another key filter- the Budget filter.
Simply set your budget, the min to the max, anywhere from $50K to $5M. Once you do that, the Heatmap will only show you the cheap investment property for sale that falls within your budget. These will be listed on the side of the Heatmap along with a quick preview of the investment property analysis of each property.
This way, you can see the house prices as well as the cash on cash return and cap rate for both rental strategies. See a cheap investment property for sale to your liking? Then click on it and you’ll be taken to the property analysis page.
This is another powerful tool to help you find the best real estate investments in 2019. However, I will leave it to this guide- Investment Property Calculator: Real Estate Investing– to show you why every real estate investor needs one of these.
The bottom line is- with a Heatmap tool, you’ll:
- Find cheap investment property for sale in any market quickly
- Be able to hone in on cheap houses that make for the best real estate investments
If your go-to methods for finding affordable properties have been failing you, then click here to start using this tool now. The faster you get started with the Heatmap, the less real estate deals you’ll miss out on in 2019, and we know they’ll be far and few in between.
Property Finder: A Quick Way to Find the Best Cheap Houses for Sale
We’re not done yet. We have another real estate investment tool up our sleeves to help you find cheap investment property for sale anywhere in the US. This tool makes the property search even quicker. That’s because it:
- Allows you to search for houses for sale in up to 5 different cities
- Will only show you the best investment properties with the highest return on investment within your budget
So if you know the one city you want to invest in, you could use the Heatmap and go through the neighborhood analysis and compare different locations and land on the ideal place for investing in rental properties. But if you don’t want to do that for a bunch of different cities, then use the Property Finder.
You’ll have all the filters a real estate investor could ever ask for with this tool as you can see from the picture above. Once you find a cheap investment property for sale with high cash on cash return, click on it. You’ll be taken to the same property analysis page courtesy of the calculator.
With a free Mashvisor account, you can actually start using the Property Finder right now. Click here to start your search.
Or Learn More: Rental Property Finder: A Revolutionary Tool for Investing in Real Estate
Finding Affordable Real Estate in 2019 Will Be Possible
A lot of people are saying that the search for below market value property has been futile in 2018 and will be next year. Those people are, unfortunately, using outdated ways to find cheap investment property. Real estate investors can still find rental properties within their budget in good locations with high ROI. All you need is the right tool.
To get access to our real estate investment tools, sign up for a 7-day free trial of Mashvisor today, followed by 15% off for life.