All Forum Posts by: Cody Murray

I currently have two Single family detached. The Current Market rate is $2,200/month for both homes.

Property A: Tenant has been there for two years. We rented home at top of market for $1700/month. (We didn't increase rent during 2020)

Property B: Tenant has been there for one year. We rented at top of market for $1,950/month 

Both properties are now on a month-to-month contract. 

with the real estate market going crazy in the Phx area we haven't been keeping up with rent increases. 

- Thoughts on how to increase the rent to a place that is closer to market value?

Go check out Roshan Kalra on Facebook. He is a dentist here in OK and he is growing fast. He calls himself a 'princess' in that he never touches a hammer and doesn't interact with his tenants. I have a feeling you will have to work harder upfront to build out your team so that in the future you can back away and create truly passive income. Passive income typically requires more work than most people think. Its not like buying a dividend paying stock or interest paying bond and literally doing nothing for income. 

Go for it @Zachary Kingsberg. You probably spend more time and money on dental CE than you would studying and taking the exam. Getting access to the MLS is a big plus. Many agents will have several buyers on their "list" and you may never know if you are getting a first look or the leftovers.

Additionally you will save some on commission but remember there is a difference between price and cost. DIYing a deal could cost you more than the price (commission) if you overlook something. 

You will never know until you try it.