Updated about 5 years ago on . Most recent reply
Estimating potential rent
I've been lurking on the posts for a long while. I've been consuming BP podcasts and books avidly.
But... I feel like the missing piece to break my analysis paralysis is how to estimate rental income from a potential BRRRR property. Most places that Rentometer can analyze are bigger towns whereas in my area (Northeast Georgia), smaller towns seem to offer closer to the 1-2% rule properties. Rentometer has a hard time having enough comparable in those markets.
Zillow and Redfin might offer their estimate, but I have only a little faith in their educated guesses.
Just watching my target areas and seeing what is available for rent on Zillow or Craigslist seems to show rents at about $0.8 to 1.0 x the square footage per month for a nice, but not fancy SFH. Does this seem like the best way to estimate rent for use in the BP rental calculator?
Thx to all the posters who've given their time to teach us so much.