Renting through disabled companies...

3 Replies

So I do door to door sales. Long story short I talked to someone for a while and he said hes been renting properties through this one company for decades. He said for this one house of his he had that company rent it for 18 years straight before he sold it. Told me they didn't even have a missed payment once. 

After talking to him for a while hes like "you know what ill help you". I asked him about this one city about 1.5h away from us. He said they do stuff out there. he said when I am ready give him a call and hell get me in contact with the owner of that company. Thoughts on this??

On a second note would you rent in a town with these facts; Population of 8,300, has a walmart, has a University branch up there, but is kinda poorer than most areas around 19k a year on average income.  Would you invest out there if the numbers make sense. I live in Utah and the population is expected to get bigger and bigger.

Updated over 2 years ago

Resident income is 19k, while house hold is 44k.

@Account Closed

I live in Utah, its a tough market here for sure. I purchased out of state myself. Numbers looked great, and so far I haven't had any problems with all my connections (agents, contractors, etc) outside of my property manager who told me everything I wanted to hear until I signed their contract. Its been crickets ever since, but I am still getting rent, at least that is still happening.

If it's only 1.5 hours away go check it out. If you are local, I will go with you!

I think its great the guy reached out to you like that. You can always ask him more questions about it if he is investing in the area. Especially, if his connection is managing the property. Was his house in that city specifically? Why did he sell?

There are several threads dedicated to "questions to ask a PM" and a lot of experiences shared from people working with property managers. These threads can help you figure out your line of questioning.

If the numbers work its always worth further investigation. If you think population will expand and can analyze that data to rationalize it, I say go for it.

My buddy made a joke that if a town had a starbucks it was going places, but I think there are more things to analyze.