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Updated about 6 years ago, 12/06/2018
Rents weren’t what I expected
Purchasing a home at $66k. Memphis, TN 38115. Initially I thought the rents would be from $850 to $950, thIs was supported by my rentometer analysis, Zillow estimates and my
Agent’s comp list of rents around the area. I was almost sure about thIs purchase until I spoke to one of the property managers around the area who knew the area and had a lot of houses managed close to the home I was about to purchase. She said that it would only bring in $650 of rent, and at most $695. My agent found It hard to believe it would only rent for that much and assured me comps suport 800 to 900 rents. This is a 3:2 SFH. The nUMBERS DoNT WORK WITH $700 RENTS. What do I do??