I’m trying to find good deals to buy and hold, I’m driving for dollars in a complete different area prob different market as well... Does anybody know of a website or app to determine rental percentages in certain areas? Or what’s the easiest way to do this? I’d really appreciate some help.
@Ricardo Herrera the easiest way by far is to connect with a very knowledgeable RE agent and/or PM who can tell you exactly what the rent to price ratios are, etc. You can also source rent comps yourself by using a site like rentometer.com or looking up listings of available units for rent (ie on craigslist, hot pads, etc.).
@Ricardo Herrera Checkout
To get a better feel of the rental market have your local investor friendly double check via MLS.
- Sounds Corny but craigslist is a lifesaver....
-Trust The RENTOMETER website as well!
Driving for dollars is not the more effective way to get new properties. You should consider searching for 'high equity' and long term owners lists and then go approach those properties. They are the people that are likely to move and have motivations to work with investors as they typically do not want the hassle and might benefit from not paying a real estate broker's fee.
Thank you all for your tips and help. I would definitely consider all of them and put them to practice