The SEOTA process helps you to determine whether or not a particular area is one in which you should consider finding an investment property. Once you’ve taken that preliminary step, it is time to look at specific rental properties that are for sale. A mortgage broker can help you determine what you can afford to purchase based on the amount of money you have available for a down payment.
If you have done your SEOTA work well, you will have a checklist you can quickly consult to determine if a property in a particular area is worth pursuing and evaluating in detail. It is also recommended that you complete a Property Snapshot Form to summarize the basic property information you need to know.