The buy and hold is a very old concept. In the start, it was used as a technique by some of the richest people in history. Thereby one buys it sells it at a much later date. Till then one needs to be patient and give it for rent meanwhile.
1) Wait and watch. In this one needs to hold it till Market improves. The profit is the difference between the initial cost of the property and how much you end up selling for. There are two ways to do either do a fix and wait for the market price to get better.
2) Find And Buy A Property. Get an accurate ARV, or “after repair value”, from a trusted real estate broker. Elements of the neighborhood, school district reputation, and general location are must check. With a buy and hold, you could go this route and repair the home, or you could simply find one in already good condition.
3) Look for leasing it out. It’s always a good idea to have a short-term plan too. A great way to generate a monthly cash flow is by leasing the house out to tenants.
4) Find Tenants that will cause the fewest problems as possible, and is the most reliable. Check for tenant’s rental schedule. Also check if tenant is a party animal or would cause destruction also check for tenants who do not indulge in anything illegal on your property, or even do anything without a permit.
5) When the house has finally appreciated in value, it is time to sell the property and collect your long-awaited profit. A cheap way to get the word out that you have a property is by using bandit signs. The last step is to sign the papers and cash your check!