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

[Akku Kumar]

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

[Mark Updegraff]

Akku, solid move getting into real estate early. You’re definitely on the right track thinking through tenant demand upfront, especially with a lot of similar inventory sitting.

For marketing, Zillow is really it. The other platforms can sometimes help, but they’re not as reliable. If similar homes are sitting for 30-70 days, it’s probably a pricing issue. The right rate rents it—no need to overthink gimmicks or incentives.

Virtual staging is the way to go. It’s way cheaper than full staging and makes a big difference in listing photos. Empty rooms don’t sell well, and you want your listing to stand out. At minimum, stage the living room and primary bedroom to give it some warmth.

That said, have you thought about cutting bait and putting your money into a market where the numbers actually work? If places like yours are sitting at $2200 with no traction, you’re taking on unnecessary risk, especially as a first deal. New construction in a saturated market isn’t always the best play if you’re looking for steady returns.

A place like Rochester has way better fundamentals—lower buy-in, strong rent-to-price ratios, and stable demand from universities, hospitals, and major employers. You could get into a solid multi-unit or a single-family rental with real cash flow instead of hoping your Katy rental eventually fills.

Not saying you should walk just yet, but if leasing drags out longer than expected, would you consider selling and reinvesting somewhere with better returns? Have you run the numbers on what your exit could look like?