Everybody, at some point in their life, has thought about owning rental properties.

But…analyzing them is not always the easiest thing to do. In this message, I want to show you two free websites that I use to find money-making rental properties.


The Book of Proverbs has more financial wisdom than most books that I’ve read. Proverbs 31:16 actually has this to say about a woman of noble character, She appraises and field and buys it; from her earnings she plants a vineyard.

I want to show you how to easily appraise a property so that you can start profiting from earnings.

First, I use Zillow to come up with my expenses. Then I use Hotpads to come up with the income side.

I’m in the process of putting an offer in on a property. So, now let me show you the process I would use on an actual property.

What are your criteria?

When it comes to an investment you always want to have your criteria that you stick with. For me, when it comes to real estate, the property must have cash flow.

I will not buy a property with the potential for cash flow down the road. I want a property that is cash flowing immediately.

Secondary to that, I look for a property with above-average appreciation. This just means that the property is projected to go up in value more than the area average.

That is what I look for.

In this particular case, I’m looking at a property in Jacksonville, Florida. It’s a four-bedroom, two-bathroom property.

Now, let’s go to the Zillow Mortgage Calculator and let’s go to Hotpads to look at some of the numbers. You’ll see the actual numbers and see why I’m willing to put an offer in on this property.

Here are some images of the property…

Again, this property is in Jacksonville, Florida.

Now, let’s use the free Zillow Mortgage Calculator to determine what the expenses are going to be.

How to calculate expenses

The offer I’m going to make will be $80,000. I will make a $20,000 down payment.

Be sure to make sure you’ve already been prequalified by a lender. You want to know what your closing cost will be. There is more cost than just the down payment.

Another initial cost will be immediate repair cost. I’ll be purchasing this property with a tenant already in it, so I won’t have immediate repairs. My closing cost will be $3,500.

Again, make sure you know what your repair and closing cost will be before finalizing an offer. You don’t want to save up a down payment and realize you have to come out of pockets for even more money.

I’m going for a 30-year fixed mortgage. And my lender has let me know that my rate will be 5.5%.

I hope I’ve stressed the importance of having a relationship with a lender. As you see here there is a lot of key information you’ll need from a lender to do the proper analysis on a property.

To get the property tax rate you can call the county recorders office. That is exactly what I did.

You want to contact a couple of home insurance providers to know what your annual home owner’s insurance cost will be. That is what I did to come up with the $800/ year. It’s important to note that I am being conservative with these numbers.

Based on these numbers my all-in cost per month will be $499. Any rent above $499 is income.

Now, let’s go to Hotpads to see what the rent would be.

How to calculate income

Hotpads is the free website that I use to determine what the actual rent will be for the property.

First, I enter the zip code. This property’s zip code is 32209.

Next, I enter the number of bedrooms and bathrooms. Again, this is a four-bedroom, two-bathroom property.

Finally, it’s important to adjust the square footage search. This property is ~1,300 SF, so I want to select a range of 1,000 to 1,400 SF.

After entering this information I found a similar property that rents for $1,050. From the photos below, you can see that the property is actually older than the property that I’m analyzing.

The $1,050 should be conservative.

Based on this analysis I should be able to make roughly $500 per month on this property. Also, the projected appreciation for this property is about 7%.

To put that into perspective, I could have my money in a bank savings account earning .03% interest. Or I can put it into this property. I would be making $500 per month plus I would get 7% appreciation on that property value.

This property is one that I’m going to put an offer in on.

We have a proprietary strategy that we use to help people come up with down payments fast. And we help you find money-making rental properties just like this one.

If you’re serious about building wealth my firm can help you buy rental properties that already have a tenant, in place, that is paying rent right now. If this sounds good to you click the link to learn more:

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