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Updated about 4 years ago,

User Stats

2
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0
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Matt Schaefer
  • New to Real Estate
  • Los Angeles, CA
0
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2
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First Rental Unit...Still waiting for a tenant to sign a lease

Matt Schaefer
  • New to Real Estate
  • Los Angeles, CA
Posted

My fiance and I just bought a duplex in Highland Park, Los Angeles that came with a 600 sq. ft. bungalow.  The unit is completely separate from our front house and doesn't have any shared walls (2 house on a lot).  We renovated the entire kitchen, cleaned it up with paint and new fixtures and have it listed to rent on Zillow, Craigslist, Apartments.com, and several other sites.  It is listed as a 1 bedroom but has an additional bonus room that can be used as a bedroom as well.  We have had about 10 potential tenants come to view the unit, but no one has shown any interest in signing.

I am now on month 2 of paying the FULL mortgage and really want to get the unit filled so we can utilize that rent towards our mortgage.  

Some potential factors I see that may be effecting the situation are...

-Rent May be too high ($2395...on the higher end for a 1 bedroom (+Bonus room) in Highland Park)

-Street Parking (the street is a dead end with a school at the end of the block)

-The bathroom is in the kitchen (House built in 1920s...kinda weird)

-Sharing a lot with the owners (we have provided their own private walkway and secluded patio, so interaction with us would be minimal).

I would love any advice on things I may be over looking or potential strategies I can implement to get this thing filled.  This is our first investment and want to get it off the ground so we can continue to invest.

Thanks,

Matt

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