Even in this uncertain economy, there are still some basic guidelines that can help you in your property investment activities. Though different communities place a higher premium on certain types of investment property over others, following these guidelines can help you to identify the best options for your investment strategy. After all, energized buyers are simply not enough – you still need the best property to rent to your tenants.

Some of the best properties to buy for rental purposes are apartment complexes and duplexes. They are not only popular, but they provide multiple revenue streams from the greater number of tenants. While there are many who will not buy run-down properties because they do not want to invest the money necessary to prepare them for occupancy. If you, however, are prepared to make that investment, some of these dilapidated properties can be great investments, as they can be had for bargain basement prices. Older properties are also ignored by many investors, and can consequently be had for extremely low prices. Either renovating or selling them outright can often generate tidy profits.

You also need to consider the neighborhood that you are buying into. The best neighborhoods for rental investments are ones with a great degree of activity. Close proximity to malls, schools, and job opportunities is always a benefit for potential renters, and anyone who owns properties with those characteristics is certain to have an investment property with great potential. To find the best bargains, pick your opportunities wisely. Motivated sellers include those who are in or near foreclosure, properties owned by banks or that have been on the market for several months and properties that are sold “as is” or as a “fixer upper”.

You should be aware that a property that seems like a good investment for you may not look so attractive to another buyer. Many buyers are only interested in newer land and developments, while others only target single family dwellings for investment purposes. If you are a broker, find out exactly what your buyers want before you attempt to match them with the right investment property. If you are a buyer and investor yourself, make sure that you know what you want before you commit to any purchase.