Can you get renters as an investor?

Question

Hi everyone,

Can you get renters on a property as an investor, if so, under what deal structure and how much do you charge for this?

Thank you.

Josh Dane · Answer

I think the only restriction on this would be your ability to actually execute the lease. You most likely need a broker's license for this.

Skylar Simpson · Answer

Hey Hugo,

It works the same way for everyone regardless if you call yourself an investor or not. Do you have a specific example we can help you with? You can do a straight rental, lease option etc...

Hugo Garcia · Answer

Yeah, this is definitely not my main focus but I definitely see the opportunity literally in front of me everyday.  So, legally how do I have to word getting rents for the landlord without getting into any trouble and how much can I ask him, I was thinking of asking for last month deposit down as payment.  Is that good (meaning, is that an option that I can do for this deal)?

Also, do I need any type of contract while doing this?

Skylar Simpson · Answer

Aw you are wanting to be a tenant finder for OTHER people - not for your own properties? I have a buddy that does that. It's one of the many ways he makes money as an investor. If you are able to build a list you can JV/Partner/Consult with people who have vacant homes or places that need filled and make a small fee. Though I wouldn't suggest that as your only method of making money since the amount you'll get paid will not be very high. Up to you though. Talk to landlord who have "for rent" ads up and see if you can talk w/ them about how you can help them or provide value and see where that takes you.

Hugo Garcia · Answer

Hey @Skylar Simpson,

Yes, I do have a specific example.  The apartment in front of me is vacant and I want to get some tenants in there.  I found some tenants in the apartment below me out of accident and I got a 5% "finder fee" which was awesome just for the possibility of it but it was almost no money.

How much can I get to find tenants in that apartment?

Thank you

Can you get renters as an investor?

Most Popular Reply