All Forum Posts by: Austin Wolff

I currently have 483 clicks on my rental listing, which has led to 3 chats over FB messenger, but so far 0 applications. I'm going to reduce my rent by $100 as this ratio seems abysmal (quite literally a 0% ratio in view-to-application). 

But I'm just curious, what's the average view-to-application ratio anyone is seeing?

(I know it differs market to market. I'm in Fayetteville, AR if that matters to anyone, and renting out the master bedroom.)

I'm the Market Intelligence Analyst here at BiggerPockets. I wrote an article for beginners on where to get started (ignore the part about house-hacking, just pretend it says "Out of State Investors" instead):

Top 10 Markets for Your First House Hack

I recommend you start your research there and see where it takes you.

I'll be marketing for a RBR tenant soon, but haven't had any luck finding a RBR-friendly PM. Would love to meet and exchange ideas, especially since I'll be leaving the state in about a year.

I “lived” in Los Angeles. I moved to Fayetteville, AR for a house-hack. 

Getting started and house-hacking in the most unaffordable housing market in US history is very tough indeed. I lived in Los Angeles -- arguably harder to cashflow than Boston, so I feel your pain. From my perspective you have three options:

1. Be patient and save more for a year, 

2. Look to invest out-of-state in more affordable markets, 

3. Or move to a more affordable (but growing) market. 

It's just the reality we live in right now.

 Can't be stated enough. For most people, growing your income (and bank account) is the ultimate "hack" to generating wealth -- you can't invest what you don't have. 

I was living in Los Angeles, CA, so I feel your pain. I've written a few articles here that should help in your decision:

The 10 Best Markets for Your First House Hack

13 Real Estate Hot Spots You Won’t Want to Miss Next Year

I'm personally putting my money where my mouth is and moving to Fayetteville, AR where I will be house-hacking my first property--something that could only be a dream in Los Angeles. Hope this helps.

Building a new SFH (and then holding it as a rental) appears to be a better option than buying an existing SFH. If you build (via managing a general contractor), you should (ideally) know more about how the property was built than if you bought an existing home--you know what's behind the walls, and ideally you might avoid anything wrong with buying an existing home with issues you and your inspector didn't catch.

I understand there's risk to building--it just seems right now that the risk is lower than buying an existing house--a house where you simply cannot know every detail without tearing it down to the studs and doing a complete remodel. If you bought an existing home and it had a massive problem your inspector didn't catch, your deal could go under.

Am I wrong to think about it this way?

Hi, I'm the Market Intelligence Analyst here at BiggerPockets--so analyzing markets is all I do. Also, I live in Los Angeles, so investing out-of-state was my only option when I began my analysis. While you may not be considering moving to a market and house-hacking, I think this BiggerPockets article still offers great data for out-of-state buy-and-hold investors.

Key takeaways: Fayetteville, AR and Indianapolis, IN may be good places for you to start if you're new. Not included in the article (but in an upcoming one I'm drafting right now) is Columbus, OH like others have stated. These 3 metros have prices cheaper than the national average, healthy rent-to-price ratios, and growing economies--solid market fundamentals. 

I recommend hopping on Redfin, Zillow, or the BiggerPockets Deal Finder right away to start looking at what's available in your price point. Hope this helps.

Hi, I'm the Market Intelligence Analyst here at BiggerPockets--so analyzing markets is all I do. While you may not be considering moving to a market and house-hacking, I think this BiggerPockets article still offers great data for out-of-state buy-and-hold investors.

Key takeaways: Fayetteville, AR and Indianapolis, IN may be good places for you to start if you're new. Not included in the article (but in an upcoming one I'm drafting right now) is Columbus, OH like others have stated. These 3 metros have prices cheaper than the national average, healthy rent-to-price ratios, and growing economies--solid market fundamentals. 

I recommend hopping on Redfin, Zillow, or the BiggerPockets Deal Finder right away to start looking at what's available in your price point. Hope this helps.