Seaside, CA · Member since 2016 · 5 posts · 0 votes
So a lot of the posts, and books that I've read seem to assume and make it out as if tenants (and buyers later on down the road when you are ready to sell) are easy to come by. I don't have any experience in real estate investing thus far, but am actively looking to find some. This has just been a burning question in my brain since the beginning of Rich Dad, Poor Dad. I remember when I was a kid, my dad was always complaining about not being able to find someone to rent out our second home we owned in Colorado. So what's the catch? Are tenants harder to come by than it's made out to be, or is there some critical information I'm missing?
Investor · Denver, CO · Member since 2015 · 492 posts · 267 votes
10y
Christian Morrison I have never had an issue renting out a house here in Colorado, and I own houses in north and south Colorado. I run a full service management/partnership company. We do everything for our investors from beginning to end. Our last deal makes an 18%return to our investors annually, paid out monthly as cashflow. You can do it if you know where to look.
Residential Real Estate Broker · Englewood, CO · Member since 2016 · 6 posts · 2 votes
10y
Hi Christian,
It all depends on location, location! most of Colorado's market it's pretty hot right now, but mostly in Denver Metro. I'm currently renovating a 6-plex and I get tons of calls every day of people interested in renting them out. Where are you looking to buy?
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
10y
I don't know what the books are saying, but you can rent or sell anything at the right price. And if you know who your potential tenants/buyers are and how to market to them.
But, that doesn't mean you'll make a profit or have problem-free tenants, either. You just have to learn and look at everything involved.
But, just one thought on marketing correctly to the tenant pool you want - I wanted law students. If I advertised the units I had only in the city newspaper, which none of the law students would look at to find a rental, I wouldn't be able to rent it to them. I needed to know where law students look for housing - the law school websites and Craigslist.
And of course, if I wanted to rent to law students, but there wasn't a law school for 100 miles that's not going to work either LOL.
Investor · Denver, CO · Member since 2015 · 492 posts · 267 votes
10y
Christian Morrison I have never had an issue renting out a house here in Colorado, and I own houses in north and south Colorado. I run a full service management/partnership company. We do everything for our investors from beginning to end. Our last deal makes an 18%return to our investors annually, paid out monthly as cashflow. You can do it if you know where to look.
Investor · Claremont, CA · Member since 2014 · 150 posts · 36 votes
10y
Yeah it really does depend. I think for the most part the people who are saying it is hard to find tenants are the people that bought their house too expensive so they have a mortgage that is too high to let them cashflow at the market rent price (including vacancy, maintenance and Prop mgr). If you buy with the numbers in mind at the beginning you most likely wont have too much of a problem finding tenants.