Tips for Posting a Rental Property Online

[Matthew Johnson]

Hello All,

I am new to Bigger Pockets and this is my first post to the forum. I currently have a rental property, by default, and am looking for some advice on the best way to list the property online to generate interest from potential tenants. I say by default because my wife and I purchased the property in 2006, at the height of the market, and found ourselves $75,000 under water two years later. We outgrew the house when we had two kids, but couldn't sell. The house is located within two miles of three private colleges so we have been able to rent out the property to college students for the past five years. I am trying to sell the property now because of an awful mortgage (80/20 ARM with a 15 yr balloon payment) that we cannot rid ourselves of. In addition, the house has a pool, which is a nightmare to maintain and I believe I can purchase a different rental property, similar in size and location, for much cheaper, with a much better mortgage. Right now, I am handcuffed by this house with regards to purchasing any additional rental properties because banks will not recognize any rental income I bring in until the house is paid down to 80% of it's value.

That being said, I read an article this afternoon about strategies for listing a rental property online that I thought was posted on the Bigger Pockets twitter account but I can't seem to locate the link.  I have included a link, below, to an online posting for my property.  Any help is greatly appreciated.  Thanks