Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 5 years ago,

User Stats

23
Posts
7
Votes
Uju Anyanwu
7
Votes |
23
Posts

Need help finding a renter!!

Uju Anyanwu
Posted

Hello BP family. I am a newbie in REI from Dallas Texas. My goal is specifically rental property investment. I closed on my first rental property (SFH) 12/19/19. I made this deal with little or no knowledge in REI (bad idea). With the little knowledge I have acquired from BP, I have realized it wasn't a good deal. I am learning from my mistakes and trying to move forward and make the best out of it. The property was renovated by an investor (my guess) before I bought it. I have put in new appliances, washer, dryer, refrigerator. My property has been listed on various sites including Zillow, apartments, for 2 weeks for rent with little prospects. So far only one person has come out to see the property. I need some advise on how to get a renter soon. I tried to use my realtor to get a renter but she is charging 1 month rent. So I am trying to do it myself. I also need help getting a lease agreement. I would appreciate if anyone can share one with me.

The house has carpet with tiles in the kitchen. It is listed for $1550 which is slightly above the median price. I am trying to figure out the best action to take to get a good renter soon. I have been thinking of doing a few things and would appreciate inputs please. My options are 

1. Change flooring in the living room to laminate or luxury vinyl plank (which are cheaper than hardwood flooring). 

2. Leave the house as is and offer first month rent free or half off. 

3. Decrease rent to $1450-$1500

I want to figure out the most affordable thing to do to salvage my situation. I don't have a lot of cash left (invested almost all my free cash in purchase). 

I hope to recover from this deal, learn from my mistakes and hopefully continue to pursue my dreams in REI.

Loading replies...