Here’s the challenge. How are real estate agents supposed to make money selling rental income property in this depressed real estate economy?

After all, most rental property owners are requiring a price for their property based upon previous years’ “bubble” inflation, and buyers are choosing to hold on to their cash rather than to fork out the money for income property deemed over priced.

Fair enough. Nonetheless, there are elements that transcend what might be considered likely and in turn nuances at work that are inherent to real estate investing that might surprise you.

Here’s the deal. It has always been true with real estate investment property: There are always owners willing to sell and buyers willing to invest. In other words, there are always deals (and commissions) to be made if you know where to look and are committed to finding them—even when it appears you are seeking the proverbial “needle in a haystack.”

Yes, you heard right. There are opportunities to list and sell rental property out there waiting for you, but it’s not likely they will fall into your lap; you’re going to have to dig for them.

Here are some suggestions.

1) Prepare yourself for income property – At the very least, understand what an APOD and Proforma are, and learn the formulas for cap rate and gross rent multiplier. Research your market area to determine what cap rate income properties have sold for, or are currently listed. Invest in good real estate investment software so you are prepared to make sound cash flow analysis presentations. You wouldn’t expect any business owner to succeed who lacks knowledge about the product or does not possess the right equipment and tools. The same is true if you hope to build a successful rental property business.

2) Call your customers – In this case, you already have rapport with those you’ve serviced in the past, so you have an inside track, and probably won’t get hung up on.  Ask them whether they might consider investment real estate, or perhaps own rental property that they might consider selling. Remember, you don’t know until you ask.

3) Listen to your colleagues – Attend office, local board, and other meetings where your colleagues (who are working with investors) are pitching “haves” and “wants.” Pay particular attention to the types of income property they’re looking for and don’t hesitate to go out and try to find it. My first income property listing was the result of driving around pinpointing and contacting owners of properties that suited my colleague’s buyer.

4) Contact rental property owners – To do this, of course you’ll need to know what rental properties exist in your town and who owns them. You can drive around and gather addresses then have a title company supply you with the owner’s name or you can visit the commercial division of the tax assessor’s office and gather them yourself. The more thorough you are the more names you collect and in turn, the more owners you will be able to contact.

5) Contact property management companies – This is sometimes the only way you will be able to contact an owner because rental property owners typically insulate themselves behind a management company. If you’re fortunate enough to build a relationship with a property manager you might get an inside scoop when an owner is considering a sale, but at the very least be sure the management companies know that you exist and are in a position to sell income-producing property.

6) Watch the classifieds for FSBOs – Check your local newspaper and Craigslist for rental property marketed by owners. It is never likely to see a For Sale sign in front of an apartment or office building because owners do not want tenants to know a property is up for sale, but sometimes they do post a classified.

7) Contact residential developers – Some homebuilders are also investment real estate owners, and given this sagging market, might be ready to sell or entertain an offer. Hey, they may even be sitting on empty houses that can be rented and sold as a rental property.

Okay, you get the idea.

If you want to list and sell income property successfully, not unlike any business entrepreneur, you need to understand your product, budget for the correct tools, and then do the legwork. It does work, but only you can decide whether you want it badly enough to make the investment.

by Duncan Wierman

Editors note: More and more, given the upsurge of online real estate marketing, individual investors and realestate agents must turn to the web to find investment opportunities. This article gives some helpful suggestions. We would only add that it is also important to possess good real estate investment software to, as the author suggests, “be on top of the technologies” and “set you apart from the rest of the competition”.

Marketing is the most important thing that you can do if you are an investor in the real estate business. Many of the things that you need to consider with your marketing tactics include differentiating yourself, being creative, generating leads, and much more.

As an investor you must have the ability to think outside of the box. You have a lot of competition and other people that you are up against so you need to be different and stand out as an investor. Don’t use the same methods and techniques that everyone else is. Show people that you are willing to be a little different and make this a part of your branding. You must brand yourself to be recognizable and well known in the real estate market. When you do this you can be extremely successful as an investor.

Online marketing provides many ways for you to advertise yourself and your business. There are many techniques that you might practice to get the word out that you exist and you are an investor. The important thing is that you are original and creative. In order to dominate the market you must use techniques and methods that are creative that make you stand out from the rest. You are up against a lot of competition and you must be noticeable and recognizable.

Because you need to stand out from the rest you will need to find ways to dominate the market. The market is saturated with other real estate investors so making yourself different means you need to build credibility above and beyond everyone else. Credibility doesn’t come easy and is acquired over time. The best thing you can do is be responsive, accurate, timely, trustworthy, and much more. You need to show the customers why you are better than the rest and point out what things about you make you the best. Prove to the customers that you are the best person for the investment and you will be considered over the competitors.

Generating leads is very important to your business. You want to have the ability to get the cherry picking deals and if you don’t have a lot of leads then you will not see the smoking deals that are rock bottom and the best investments. You need to generate as many leads as possible with your marketing campaign so you can find the deals you cannot pass up around the world. Not only will you find the best properties but you will make so much more money even faster.

As a real estate investor you must be practicing marketing methods online. Your marketing campaign must include ways that will set you apart from the rest of the competition, prove you to be the best point man, build credibility, and much more. You need to have the ability to dominate the market but this cannot be done without a marketing campaign that will be informative and build credibility for you. In a competitive market like this you have to be on top of the technologies and practice as much marketing as you can.

About the Author

Duncan Wierman a software company ex-CEO turned Real Estate Investor and Marketer. Discover how to use creative online marketing methods to find motivated sellers and hungry buyers online. For more details on how this type of automated internet marketing system works for real estate investors, please visit Duncan Wierman’s website and get is free 14 day e-course. http://www.DuncanWierman.com