Being able to quickly locate valuable medical equipment is critical inside hospitals. In order to utilize limited budget and resources efficiently, accurate locating or tracking is required in many fields. In this research, we focus on how to find the location of missing assets by using RFID in real time indoors to track equipment. When equipment needs to be searched, the purpose of a RFID device is to minimize the time, investment cost and effort spent searching for the equipment. Thus, this research presents a mathematical model of using RFID (both handheld reader and stationary reader) for efficient asset location. We derive the expected time of locating RFID-tagged objects in a multi-area environment where hand-held RF readers are used. We then discuss where to deploy stationary RF readers in order to maximize the efficiency of the search process.