All Forum Posts by: John S.

Thanks @Russell Brazil!! Again, amazing answer. Thank you so much for your continued contributions! I see you're in Rockville, MD. Do you sell in the Arlington/Fairfax area also? Would love to potentially have you as my buying agent!

Hi guys, I'm looking to expand my rental portfolio (currently have 1 rental) and am wondering, is it better to diversify across regions in the US, or concentrate on 1 area?

I have a rental in Arlington, VA (next to Washington, DC). I can see the benefits of concentrating because it'll make it easier to manage if I stay in DC. Alternatively, if DC's economy tanked, I may be in a bad position - that's why I was thinking of diversifying rental properties across the country (e.g. Austin or LA). What do you think makes the most sense?

Thanks @Michael McDevitt! Very helpful!

@Russell Brazil - interesting, what have you found to be the best place to list rentals? I've been using craigslist, but wondering if I should be looking somewhere else.

Also, how come wouldn't you ever consider renting out rooms separately?

@Michael McDevitt - thanks for the confirmation. This is great to see that people agree on 2-bedrooms. What are the main reasons for demand of 2-bedrooms that you've seen?

@Russell Brazil - this makes a lot of sense. I just bought a studio in Rosslyn and success renting it out quickly. Now looking to diversify my portfolio. When you rent out 2 bedrooms, have you found more success renting it out entirely, or one room at a time? Also, do you use craigslist or post on another place? 

@Russell Brazil - thanks! Do you rent the 2br to a couple, family, or one bedroom at a time for roommates? 

Also, how come you'd shy away from studios most of the time, except in those areas you listed? 

@David Shapiro, thanks for the message. Can you explain why you think 2 bedrooms are the best based on your experience?

I've run numbers in my neighborhood, but posted this because I wanted to understand other's experiences. Thanks in advance!

Hi guys! I'm looking to buy a unit in a condo complex, in a big city (Washington, DC). based on your experience, what size unit (studio, 1-bedroom, 2 bedroom) have you found to be the best for overall cash flow (low unoccupancy rate, high demand, high rent-to-mortgage margin %)?

Any additional reasons to your findings would also be really helpful!

Thanks!

Gotcha, thanks! Is it okay if existing tenants show the property they're currently residing in?

I'm an out of town landlord, and I'm tired of paying high fees to real estate agents to show prospective tenants my unit. Currently, agents charge 8%, or 1 month's rent - which amounts to $1.5k per year for my unit. Margins are already low, so this extra charge hurts.

What do you think of a website that helped you show prospective tenants your unit for a reasonably low fixed cost? All you'd have to do is mail the key in and the company would take care of the advertising and showing. It'd charge a flat fee and subsequent renewals after the original lease was over would be discounted.

Any interest in this or not so much? How much would you pay for this service?

Your honest opinion matters!

Thanks!