Investing and renting in rural communities and small towns

New to Real Estate · Rexburg, ID · Member since 2022 · 12 posts · 2 votes

I live in a small farming town about an hour from the regional city. I have noticed that online tools are consistently inaccurate for my area, if they have any data at all. For many properties there are few comps and the few local landlords I have asked are reluctant to share their numbers (understandably). For those who invest in places off the beaten path, where do you get your numbers for things like rent estimates?

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Erin Dreher

Real Estate Agent · Little Rock, AR · Member since 2022 · 83 posts · 63 votes

I ask around the neighborhood. If I can catch someone outside I ask how much other houses that rent for so I can get a gauge for what I should put a house on the market. Talk to the locals... they will likely know the going rates.

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Angie CastroBusiness Member
Real Estate Broker · Charlotte, NC · Member since 2022 · 133 posts · 128 votes
4y
Hey Noah, I would recommend reaching out to a local property management company to get an idea of how much your property could rent for and the services they offer. Local property managers are much more accurate than any online software.
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Erin Dreher
Real Estate Agent · Little Rock, AR · Member since 2022 · 83 posts · 63 votes
4y
I ask around the neighborhood. If I can catch someone outside I ask how much other houses that rent for so I can get a gauge for what I should put a house on the market. Talk to the locals... they will likely know the going rates.
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Bob Willis
Investor · Curtis, NE · Member since 2019 · 231 posts · 140 votes
4y
Talk to members of the local chamber, talk to the economic development corp, etc... I find it a little strange the other landlords are hesitant to share, is the rental market soft? I have rentals in rural area and the other landlords I know in town talk freely about occupancy, rents, etc. Good luck.
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Michele FischerPro Member
Rental Property Investor · Seattle, WA · Member since 2013 · 2k+ posts · 1k+ votes
4y
Start watching for ads on Craigslist and other places as well. I was able to keep track of addresses in my target neighborhood and what they were advertised for to get a sense for the market. Over time it started to show how long tenancies were as well.
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