Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

244
Posts
120
Votes
Tom R.
  • Investor
  • Ridgecrest, CA
120
Votes |
244
Posts

Is there something wrong with my listing?

Tom R.
  • Investor
  • Ridgecrest, CA
Posted

I closed on my first investment property on the 6th this month. a couple of days later I listed it for rent. Since then Ive had dozens of calls but only 2 people have shown up for a tour of the property and 4 people have asked for an application. So far I have not received and applicants. https://www.trulia.com/rental/4036759641-534-Atkin...

I believe I have priced my house competitively. Mine is the cheapest 3 bedroom house available  between 900 and 1200 sq feet. The two major difference is mine has 1 bath and the others have 2 baths and across the street from my house is one of the many low income trailer parks in town.

On Zillow my house is tending in the top 10% in the area. On Trulia my house was the most viewed in the last week and its a best value.

I want to assume its just my local market but I am getting nervous. The average listing of similar homes is 32 days old with the oldest being 95. My listing is only 20 days old.  

Perhaps my qualifications are too tough for my market. these are the qualifications I share with my callers.

550 credit score 

no evictions

no recent criminal history

and 3* monthly rent in gross income

Most Popular Reply

User Stats

22,059
Posts
14,128
Votes
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,128
Votes |
22,059
Posts
Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

You mentioned the trailer park across the street, but not the fact this is essentially an industrial area.  Tire store, granite dealer, car parts, car wash, and a laundromat are the neighbors.   What's with the property next door that has just to garage doors facing the street?  There's another of these on the other side, three properties down.  On rentometer the other rentals that show up are in residential areas.  I think the neighborhood is going to hurt this house.  In a case like this, I think your best bet is to put a sign in the yard.  Anyone who calls has seen the area and knows what they're getting into.  The pictures may not be the best, but I think its the neighborhood that's the real problem.

Loading replies...