Now’s the perfect time to get into real estate investing since prices are still low. As you start searching for a property from Re/Max Miami, here are seven tips to help you get the perfect one:

Investigate the neighborhood. In addition to making sure you’re buying real estatethat’s in a good location, take a look around the neighborhood to make sure that you’ll be attracting high-quality renters–or buyers–once you’re ready for them.

Get it for a great deal. Remember this rule of thumb: if you can buy the property for 12 times the amount that you’ll get in rent, you’re getting a good deal.

Invest in a one-bedroom condo. This is one of the hottest properties among Miami real estate. If you’re going to put your money into a home, choose a one-bedroom unit. With all of the single professionals, young couples and retired people, a smaller home is easier to rent out than a large one.

Specialize in what you know. If you’ve already bought a few foreclosures, keep at it and become a pro. Focusing on an area of real estate that you know will help you scout out good deals faster each time that you go looking for them.

Know how much you can afford. Talk to your banker before you start looking for homes so that you can target your search for homes in a certain price range.

Buy locally. No matter how good of a deal you can get on that property three hours away, fewer things are worse than being a long distance landlord or seller.

Consider the taxes. Tax laws may change, and your renovations to the property may increase the value of the home, which will also raise taxes.

Take a look at the available real estate by calling your Miami Realtor today to schedule a viewing.