When do you start advertising available properties?

[Gayle Melnick]

Hi everyone,

I'm new to REI. I'm closing on my first rental property October 2.

When do you all start to market your rental? I'm not sure if I can even market something that I don't own yet... I drafted my listing, do I wait and post it on the day I close? I'm planning to market it as available to move in November 1.

Thanks for any advice you all may have. 

[Joe Splitrock]

@Gayle Melnick I start marketing properties once I get it under contract and have a closing date. I put the availability date after closing and write in the list "Available for showings as of October 2nd". I have had tenants move in the day of closing. I once drove from closing to meet the tenants at the property. Cutting a move in that close can be risky, so I wouldn't advise that for your first property. Still, there is no reason you can't advertise it and just let prospects know you are doing showings after October 2nd. If something falls through, just cancel or reschedule the showing. In this this business days and weeks costs money. If I am renting a place out at $1400 a month, that is $45 a day lost revenue, so yes I am going to hustle.