Analyzing #'s when you have no #'s

[Thomas Burns]

Hello all,

I was playing around with the rental properties analysis while going through the MLS. What do you guys use when you come upon a property for, let's say, insurance? Obviously you aren't going to go and get a quote for every single potential listing you want to chase. Any insight? Thanks in advance.

[Elizabeth Colegrove]

@Thomas Burns 

You just get to know your area. The numbers should stay pretty similar. My area is cookie cutter. I know that x square foot, neighborhood, bed/bath, rent for x and the insurance is roughly X. Tax is 1.3% and insurance is .3%. 

 Obviously you need to be flexible but after a while you know your area. If you asked me about houses in my neighborhoods I can give you the numbers pretty close, it is what happens when you have done 6 sales in the last 15 months with another 2 active :)