All Forum Posts by: Jessica Beganski

I love craigslist for rentals in my area. I don't know if it works everywhere but for me, it has saved me time and money.

I used to do a lot of marketing for my rentals - signage at the property, flyers, MLS, local papers, etc. But Craigslist always brought me the exact type of tenant I wanted and the others would only produce a lead or two, usually unqualified.

I'm a real estate agent and others may disagree with me on this point (especially other agents).

I think hiring an agent makes sense only if the property is a higher end rental (appealing to people who are likely to use an agent) or if you, as the owner, don't have time to show the unit or are too far away. Other than that, I think it's a waste.

I also own rental property and my best tenants always come from craigslist. I use the MLS with my rentals just because it doesn't cost me anything. I never advertise in the paper. Ever. This may be due to my market but I've had success for years with only using craigslist.

The thing with craigslist - post as much as you can. I use Postlets and then create a virtual tour with additional photos. You do have to resubmit frequently, which is time consuming.

Also, www.Floodsmart.gov - if the address comes up high risk, then I take the time to search the maps.

Katie,

I only use avg cost/sf as a back-up method if I don't have good comps.

I use comparables as my primary method - 3 comps that sold in last 6 months in same neighborhood is the most reliable. If I can't find good comps, I'll look at other comparable neighborhoods. If that doesn't give me enough, I'll go further back in time but make an adjustment for the difference in the market.

The problem in my area is finding renovated properties to comp- I can find the size, style & location - but rarely the condition. I generally have to make a lot of adjustments to my comps.

The price/sf method is less accurate in my opinion.

I will factor in short sales and REOs but won't use them as a direct comparable, unless it's been totally renovated.

I use pendings and actives to either push listing price higher or drive it lower. If there is low inventory, I'll list on the higher side. If there is a lot of competition, I want to make sure my listing would be priced as a better value (not lower but a better value).

This works for my investor clients as well as my buyer and seller clients. I am usually within a few thousand of my initial ARV.

Hello!

I'm a real estate buyer's agent in central Connecticut, landlord, aspiring investor and new blogger on all things real estate.

I'm here to learn about managing my property, buying additional multis in CT and exploring opportunties I hadn't even considered. I've also joined the forum to contribute everything I know about being a landlord in CT, buying and selling and the real estate market.

Jessica Beganski

I'd pick another city. Waterbury has been on the slide with litle backtracking. Bridgeport, Danbury, Torrington, Bristol, New Haven are in that general area and I'd recommend them above Waterbury. All have ample investment properties available of all shapes & sizes.