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Updated about 2 hours ago,

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5
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3
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Akku Kumar
Pro Member
3
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5
Posts

Preparing a Marketing/Pricing Plan to Rent a House Soon After Closing

Akku Kumar
Pro Member
Posted

Hello!

I'm a very new real estate investor and pretty new to BP as well (only my second post) so excuse me for any mistakes in my post. 

Last month, I pulled the trigger on getting my first real estate property ever and decided to go with a 4 bed, 2 bath new construction to limit all the variables involved since I am still in college. It is located in some of the newest developments on the north side of Katy, TX 77493 (I am not sure if I can post a link to the Zillow page or provide the address because I don't own it yet). I am set to close on it in about two weeks and am slightly nervous about finding a tenant in a good amount of time, given that there are a lot of similar new constructions in the same community that are up for rent but have been sitting on the market for 30-70+ days. 

So, I am asking for some advice on how to prepare a pricing and marketing plan to try and rent it as soon after closing as I can. Most 4/2 houses in the area are renting for approximately $2200 and offer washer, dryer, and internet (which I think the builder provided for all new houses in that community). I expect that my most likely tenants would be families that are new to the area and/or have moved for work. Some questions that I would greatly appreciate answered: 1. Besides Zillow and similar websites, where should I look for leads? 2. How should I stage it and should I get professional pics? 3. How can I separate my property from all the rest?

Even at $2200 I don't expect to get a positive cash flow for the first year, but that's okay as long as I rent it out and learn from my mistakes for my next investments. My main goal is to build good fundamental knowledge so any and all help is appreciated!

Thanks,

Akku

  • Akku Kumar
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