Timing of first purchase

[Derrick Powell]

I'm in the analysis stage of my first acquisition. It's an 3/1 1500sqft sfr. It wouldn't be rent ready for 60 days, which would put it available the first of October.  I'm concerned about the decreased demand this time of year leading to extended vacancy.  Any thoughts and encouragement would be appreciated! 

[Andy Webb]

@Derrick Powell - we closed on a house this time last year and had no issues renting it around October. Of course, the DFW market is on fire, and the city with that house in particular rents fast; how is your market and the general rental supply? If you want to see historical lease-up times for October, a realtor or someone with MLS access should be able to research the time it took to rent for the same month in 2014, just to help you get a feel for timelines.

Also, if it is a great deal, it may be worth the buy even if you have to absorb some extra vacancy time.

Andy