Rental Comps
Looking through lots of properties on the market that seem like they could be a good rental, but the question always arises can you pull any positive cash flow from it.
So my question is what is the best tool or tools used to determine what the market rent rate would be for that property.
I check craiglist often but its hard to come up with comps since it veries.
Iam looking for mostly condo/townhomes and occasional single family homes.
Any suggestions would be appreciated
I have found that online souces of rent - rentmeter, etc., are not accurate in my area. In fact can be so far off to be comical.
As noted before, try to get input from local hands-on experience.
Jim
A new site I found for analyzing rental comps is zilpy. Go ahead and google it. Its a data aggregator from various rent posting sites combined with google maps. Worth a look.
use the comps tool.
http://www.propbot.com/Comparable-index.html