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Updated about 4 years ago on . Most recent reply

User Stats

7
Posts
3
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Jason Cote
  • Rental Property Investor
3
Votes |
7
Posts

Are there deals on Zillow?

Jason Cote
  • Rental Property Investor
Posted

Are there deals on Zillow?

Or is this a tool better used to simply explore markets to better understand market conditions?

For example I know my area very well as I have lived here for the past 20 years and I'm very familiar with what rent prices are around here.

So as I scroll through Zillow I see single family or even multi-family properties for sale and when you do the math to figure out an approximate monthly payment I often notice that the rent for that kind of place is much higher than the estimated monthly payment would be.

For example I often see single family homes that boil down to roughly $1,000 a month when I know a unit like it rents for anywhere between 1500 to 2000 some requiring rehab some not.

Of course you have to factor in savings for repairs and what not but it seems to me that right off the bat this kind of situation offers a lot of wiggle room for potential cash flow.

Would love to hear anyone's advice on this!

Also if you live in the Northwest Arkansas Area please contact me whether you are an investor, an agent, a contractor or whatever it may be.

I would love to connect with you, network and start growing my community to be involved in the local areas real estate market as I think it could be beneficial for everyone involved.

Thank you.

Most Popular Reply

User Stats

368
Posts
238
Votes
Ryan Blackstone
  • Real Estate Broker
  • Fayetteville, AR
238
Votes |
368
Posts
Ryan Blackstone
  • Real Estate Broker
  • Fayetteville, AR
Replied

@Jason Cote. If you are analyzing deal by just the rent potential and the mortgage amount, then yes there are deals out there. However, often times when you add in Cap. Ex, maintenance ex, vacancy, and Property Management (assuming you don't want to manage for your whole life), then the numbers start to not make sense. I like the comment about Gold under your feet, and about how hard is it to get it out.... Just like gold there are places to find more gold than others. The factor is are you willing to go get that gold if it costs you "x" amount of time and "x" amount of money. Don't get me wrong. If you are looking to just make 4-5% on your money, then grab one off the shelf. That is what a lot of California investors are doing in NWA. However, most people in BP are looking to grow their wealth more than 4-5%. They also count in expected expenses like mortgage, and unexpected expenses like vacancy. Hope this helps. I am a local investor and agent in NWA. 

  • Ryan Blackstone
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