Rental property analysis

[Tarcizio Goncalves]

Hi everyone, 

I am curious to know how investors determine the market rents on their properties. I am using a site called rentometer and I like it. I do think that they are a little on the higher side so I wanted to know if there are other sites used by investors to determine the market rent. 

Do you just use a sites? What other strategies or tips you can give to find the market rent?

A 4-plex (strictly for investment) really caught my attention and according to rentometer, I can increase the rents by $275,  per per unit. If this is the case, My cash flow will be really nice. I just want to make sure that I know what the actual rents are before making an offer on the property. 

Thank you everyone

[Billy Daniel]

Hi Tarcizio!

I am also looking into multi-family rentals. My advice and experience would be to find a way into the MLS. I've found that most of these properties have the rent amounts listed as well as what the current owner is paying for with regards to utilities. That could give you a better idea as to whether utilities are included in the rent or not.

As far as doing a market for rent price, I've just been using Zillow, Craigslist, and Realtor.com to search for similar properties.  I'm not really good with this part yet, but I'm sure someone else will be able to provide a better answer.  

Good Luck!