New to Real Estate · Manitowoc, WI · Member since 2021 · 22 posts · 6 votes
After reading all these books and forum posts... one thing that still doesn't click with me is where on earth do these renters come from?!? So I find a good property deal... takes time but ok. Fix it up probably... yeah, I'm good at that. And then what? I post an ad on a few popular sites and magically a renter will apply?
I guess I have a fear that all of the renters in my area will suddenly vanish.
Rental Property Investor · DFW, TX · Member since 2013 · 953 posts · 910 votes
5y
@Chad Tessmann Not everyone can afford or want to buy their own house. There will almost always be renters in any market. Of all the fears and pitfalls on REI, the supply of renters is very low on the list of risk factors.
Rental Property Investor · Los Angeles, CA · Member since 2013 · 1k+ posts · 1k+ votes
5y
@Chad Tessmann call a couple local property managers and they will tell you everything you need to know about demand in the area, etc in one conversation. A couple phone calls is all it takes as they always know the pulse of the market.
Rental Property Investor · Largo, FL · Member since 2021 · 48 posts · 38 votes
5y
@Chad Tessmann I had the same fear. Then I posted the duplex I got on Facebook market place. I can’t keep up with all of the responses and had to take it down just to buy myself some time.
Best way to overcome this fear is to see it for yourself.
Rental Property Investor · Largo, FL · Member since 2021 · 48 posts · 38 votes
5y
@Christen G. A big one I’ve noticed recently is many do not have the credit history to qualify even if their income qualifies. Small mistakes there can lead to years of repair if someone isn’t guided.
@Christen G. A big one I’ve noticed recently is many do not have the credit history to qualify even if their income qualifies. Small mistakes there can lead to years of repair if someone isn’t guided.
Sure. No credit is better than bad credit, however. Verifying income is super important. Best of luck to you.
Flipper/Rehabber · Memphis, TN · Member since 2020 · 758 posts · 285 votes
5y
Not everyone can afford to buy a house so they rent. While others think that renting would be a better option for them than having a house. Some people transfer from one state to another state due to some issue such as employment, kids, family, etc. There are several reasons why there are renters.