Analyzing a rental properly

[Nathan Barshinger]

I'm having trouble analyzing properties. I'm trying to analyze one every single day, just something on the MLS, it doesn't have to be a deal. However, when I look at the property description there's a lot of missing information. If I'm lucky, I'll be able to see the current rents and taxes but what about everything else?

Now I can use the current rents for the 1% rule, the 2% rule or the 50% rule as a rule of thumb and that's all fine and dandy but there's so much more information that I need to analyze.

If the rents aren't in the description is rent o meter a good place to find market rent? Also, what about the insurance?

Besides the condition of the property and possible repairs, what else do I need to know to analyze a property properly?

[Nathan Gesner]

Any computer algorithm is going to have flaws. They base rent rates on know facts like square feet, number of beds and baths, etc. They can't tell you if the flooplan is attractive, quality of flooring and landscaping, and other variables. Your best solution is to analyze the home as a rental yourself by comparing it to other comparable homes on the market. Tough to do at first, but you'll start building an understanding of the market and it will get easier.