Determining Rent Prices

[Jorge Riera]

Hello everyone,

I am new to rental property investing. I haven't figured out how to determine what a property could rent for in a given area. For example, how do I set the rent price of a property if it is the nicest property in an up and coming area? What if I am getting a run down property that hasn't been remodled in 30 years and I made it look really nice/ modern inside? The areas I am looking at have homes in similar shape. How do I determine what someone would be willing to pay for that?

Thanks,

Jorge