Need help estimating expenses

[Liam Marshall]

Extremely new to real estate investing. I’ve been trying to analyze properties online and get more familiar with the process, specifically multi family. Other than using Rent-o-meter I have trouble estimating rents especially when both units are different. (Ex. Duplex with 3 beds in one unit and 1 bed in the other). Is there also any good way to estimate expenses when analyzing without visiting the property? (I’m too young to go to a showing or get a tour from a realtor) any advice is appreciated,

Best,

Liam

[David Liu]

@Liam Marshall, 

Assuming you want a free way to estimate rents (Rentometer and BP rent estimator are paid after a certain amount of use). You would then go on zillow, craigslist, fb marketplace as mentioned by Christian. The key would be to collect as many comparable rentals and get to a $/sqft number. 

i.e. Duplex A:3 bed 1 ba, of similar condition rents for $1000/mo , 1000 sqft

Duplex B: 3 bed 1 ba, of similar condition rents for $1100/mo, 1100 sqft

etc... 

You would then get $1/sqft is your average rent for a 3bed 1ba. 

Now say the property you're looking for is 1200 sqft, then your estimated rent would be $1200/mo. 

Hope that helps.