Does Having A "market Rent" Property Sound Good
I am analyzing a market place here in Texas. Out of 80 listings for sale, I only found 2 that had market rents. Most were $200 a month below market rents.
As a good investor would market rent property be a good choice for a property or NOT?
The two who had market rent have stayed on the market for way over a year even though they were price correctly.
Based on what you wrote, market rent has dropped $200...a place sitting for 1 year is not charging market rent any more. Market rents have dropped in my area too.
Exactly what the above two posters stated. a property is only worth what someone is willing to pay for it.
One can state all day long that a 1500SF 3BR house should rent for $1,000. But if every other 1500SF 3BR house in that particular market is renting for $600, then market rent is now $600 for that size house.
A unit on the market for over a year is not priced correctly for the current market conditions.
JS.
My client investor is looking as market rents as a superb quality to finding the right investment property. I do not have that same idea.
This is why I am asking what other investors feel about property.
My client investor use to be a commercial underwriter for the lenders and he is using their concepts when buying deals.
What exactly are you trying to accomplish?
Tons of info out there
city clerk
usually track debt due to the town for trash, building violations, not renewing licenses
building inspector
Code enforcement
Is it o.k. to do this (e.g. do I need conduit for this outside security lamp)
my neighbor is hammering at 3AM and on Sundays
city planner
what can I do w/ this land
can I make this a duplex
what setback is required
recorder
recorded liens
judgments
foreclosure records
[ Edited by cjmazur on Date 07/30/2009 ]
Quote:
On 2009-07-30 23:05, cjmazur wrote:
Tons of info out there
city clerk
usually track debt due to the town for trash, building violations, not renewing licenses
building inspector
Code enforcement ???
Is it o.k. to do this (e.g. do I need conduit for this outside security lamp) ???
my neighbor is hammering at 3AM and on Sundays
city planner
what can I do w/ this land
can I make this a duplex
what setback is required ???
recorder
recorded liens
judgments
foreclosure records
<font size=-1>[ Edited by cjmazur on Date 07/30/2009 ]</font>
wow thanks for the info...
would you mind elaborating on the places where I put ???
township and county assessors - info on valuation of the property for tax purposes, parcel maps (tax maps), addresses & names of taxpayer(s), addresses and names of properties, legal description (or portion thereof), recent sale amounts, recent recorder document numbers, parcel numbers, history of property valuation
recorder - grantor, grantees, date of document, date document recorded, legal description (subdivision, block, lot), parcel number, address, type of document (e.g. mortgage, release, warr. deed, etc.), consideration amount
treasurer - amount of taxes, date when tax due, tapayer of record, parcel number, address of property, date when installment was paid
circuit clerk - indexes by name, type of case, date case started, history of case (e.g. motions, orders,), images of documents
county clerk - handles various county paperwork - elections, past due taxes, extensions, etc
or a subset thereof.
What do you mean elaborate?
Welcome dg0427-
What part of real estate are you most interested in? What do you see yourself doing?
What kind of full time real estate?
Buy and hold, rehab and flip, something else?
And do you have any construction experience for the fix-up part of the fix-and-flip?
Sometimes the simple approach is effective - many successful investors advise that you can do worse than simply drive around respectable neighborhoods and look for slightly run down houses that are for sale.
Many people who are trying to locate wholesale properties make the understandable mistake of concentrating on the cheapest properties in their area. In fact, a profit can be made from wholesaling more expensive homes as there are usually homeowners who are desperate to sell their more expensive home, too.
Wholesaling has been around for a while, but in recent years it has become more widespread and acceptable – and contrary to what some people believe, it is perfectly legal. And with the right knowledge, foresight and connections it can be a profitable venture.
Congratulations on starting. Sounds like you started birddogging.