New Boston, MI · Member since 2016 · 54 posts · 31 votes
Where do you gets your numbers when it comes to multifamily units? I'm having a tough go when it comes to find information on rents and the other numbers as it apply to multifamily. When I look at the mls most don't give good numbers if any. If you call the agent most just want to get my info or want me to come in and talk before giving them out. Most agents don't even fill out the MLS LISTING completely. Why wouldn't they include the rents, occupancy rate and other important information?
I’m just trying to do what other have suggested and run the numbers on 100 properties. But finding it very difficult to do this.
Where do you gets your numbers when it comes to multifamily units? I'm having a tough go when it comes to find information on rents and the other numbers as it apply to multifamily. When I look at the mls most don't give good numbers if any. If you call the agent most just want to get my info or want me to come in and talk before giving them out. Most agents don't even fill out the MLS LISTING completely. Why wouldn't they include the rents, occupancy rate and other important information?
I’m just trying to do what other have suggested and run the numbers on 100 properties. But finding it very difficult to do this.
Where do you gets your numbers when it comes to multifamily units? I'm having a tough go when it comes to find information on rents and the other numbers as it apply to multifamily. When I look at the mls most don't give good numbers if any. If you call the agent most just want to get my info or want me to come in and talk before giving them out. Most agents don't even fill out the MLS LISTING completely. Why wouldn't they include the rents, occupancy rate and other important information?
I’m just trying to do what other have suggested and run the numbers on 100 properties. But finding it very difficult to do this.
Thoughts
Sorry, not sure what happened in the first post. As with rents, we use hotpads and/or rentometer to get an idea of market rents. It's been very useful for us to determine if it qualifies our high level analysis.
You have to understand that agents have a better close rate when they contact with a prospect in person. I'm assuming they're looking to qualify you as a viable prospect.
New Boston, MI · Member since 2016 · 54 posts · 31 votes
8y
thanks, Patrick and Chris for the reply. when I was listening to the bigger podcasts over the last few months I have picked up on the importance of running numbers on as many deals as you can. I was just wondering how that is possible when so very few numbers are given in listings.
Start finding your own numbers. It matters more what the market rent is than what the current owner is currently charging.
If you've identified the market you want to invest in, start watching Craigslist. Keep a spreadsheet of property type, beds, baths, square feet, condition, and price. Do that for a month or two, and you should have a good range for market rents.
If the current owner has rent above or below market, it will impact vacancy, so you can't trust whatever they state anyways.