BRRRR beginner. How do I know if I will find tenants quickly?

[Mike Philips]

Hey all, I’m a beginner investor, but I’ve spent weeks here learning everything I can about the BRRRR method and I know this is the right strategy for me. I’ve found a few potential investments that I want to jump on but I have some questions. I’m looking into an area which is about 1.5 hours from where I live. I’m currently in a suburb of a major city and the area I’m looking at is relatively remote and rural. The reason I’m looking that far away is because houses are dirt cheap compared to the expensive area where I live near the city. My major issue is knowing how much to charge for rent in that area and how quickly I would be able to rent it. The last thing I want is to overestimate my rental income then come out just barely break even. And I also don’t want the place to sit vacant for months. TL;DR My questions: 1) What tools do you use to make sure there is a rental demand in the area? 2) What tools do you use to find the appropriate rent to charge for the unit? Thanks!

[Brian Mcmenamin]

@Mike Philips I use rentometer which has been pretty useful at giving me a rental rate for my units. Its ~$300 a year, but worth it. I use it for everything. 

To test a neighborhood, I would consider throwing an add up on craigslist and seeing your response rate. If you have a ton of phone calls you know that there are people looking for a place to live. 

Winter time is tough to get places rented. I've always had most success in February or early spring. Good luck