Hi I'm new... very new

Hi I'm new... very new

New to Real Estate · Boston, MA · Member since 2016 · 30 posts · 7 votes
Hey folks,

I've purchased rarely over the last several years but this is my first time I'm seriously a real estate investor (and need real help). I bought a home in 2020 for a great deal (and great mortgage rate). Bought a new home and kept this one to rent...and strugging to rent. I used the sell-or-rent primary home spreadsheet and it's a coin flip given the projected rent vs sale price. But I've been trying to rent since August and have found no renters. I've had a few applications but both of them were bad (couldn't verify income in one, had the literal worst credit score in the second). Would love to learn from folks here and get my place rented!
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  • Lien VuongBusiness Member
    Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
    10mo

    Sorry you're going through this, admittedly the rental market has definitely been slower this year, esp given the new brokerage fee laws and some lower consumer confidence in the overall market. Happy to chat this over and discuss some strategies to move the unit to reduce your carrying costs, feel free to DM. 

  • Specialist · Member since 2025 · 483 posts · 270 votes
    10mo

    Congrats on keeping the 2020 deal—locking in that low rate was smart, even if renting's tough right now. Two quick fixes: price it 5-10% below comps to attract volume fast, and tighten screening with a simple pre-qual form (income 3x rent proof, credit 600+, no recent evictions) before showings so you skip duds.

    What's the current list price, target rent, and how many showings have you had since August?

  • New to Real Estate · Boston, MA · Member since 2016 · 30 posts · 7 votes
    10mo

    Current $6900, I've heard it should be closer to $6k given current rentometer rates, (target rate is $7250 during primetime rental season), had under 10 showings since August

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