Calling All Investors?
Is it a reallly bad or really good idea to call numbers from advertisements for rentals in the local newspapers to see if the people renting houses will talk to me about their investments?
What I need to know is how they come up with rent and what areas of the community get better rents.
I saw a great little house today, I would need to get at least $600/mo rent to make it work but dont know if that is possible. When I called HUD about our first property (which is not rented yet, still rehabbing it) they said for a 3br 1br in the area they would pay $650 with us paying utilities, so actual net would be about $450/mo. This other house is in move in condition has 3br/2br and in a decent area, a little better than our other house. It is about 6 blocks east.
Another thing is there is a home on the market about 2 blocks away from this one I saw today for 80K, this on would be 50K.
Sorry for rambling, any ideas?[ Edited by Stockpro99 on Date 07/19/2004 ]
Not enough information here and this reads more like an advertisement of which this is forbidden in this forumn.,
What are you trying to ask and what "specifically" do you want to know?
[addsig]
If you just want to know the likely rent you only need to read the ads or call them to verify that the property is similar (type, location).
If you want to discuss investments and how to price them with others you could call the rental ads. Better would be to find a local investor group.
John
[addsig]
Hey,
"Is it a reallly bad or really good idea..." who cares? Pick up the phone and call the number. What is the worst that can happen? Do you think they are going to track you down and break your legs???
If you're not comfortable calling them to ask directly about the property as an investor, just call and ask the questions that a prospective tenant would ask. You may get all the info you need.
But it really doesn't hurt to ask those questions as an investor. Most people wouldn't mind taking a minute or two with you on the phone. Another thing you can do is call some property management companies and pick their brains.
Good luck!