All Forum Posts by: Caleb Haynes

@Justin Polston

I completely agree, this why I am willing to overpay for properties. HOWEVER, I’m trying to be conscientious of the fact that salaries in the area are NOT increasing. So therefore, people can’t afford the hikes.

The economy is not booming. However, maybe pay raises will follow? I doubt it as our “cost of living” annual salary increase was a record low.

@Dave E.

Thanks for all the help Dave! That makes sense

@Matt M.

So these people that are doing no inspections.... they are just gambling that there is nothing wrong with the property? Or have the cash to fix whatever it is that could possibly be wrong?

@Dave E.

I know you don’t have specifics; but regardless of area or specifics, let’s say it was the Indianapolis area.

If you see a property listed for $1500/month, and it’s been that way for a month or longer, then one of two possibilities must be true.

1. The demand is not there in that area for that property to go at $1500/month (possibly due to oversupply of new investors and increased single family homes now being rented out rather than being used as buyers dwelling place)

2. The property is overpriced for the area

Therefore, when looking at property rental prices in an area, you will likely need to budget based on a rent below those in the areas long lasting posted rental prices.

Do you agree with that logic?

@Dave E.

My point is, if it’s on Zillow for 1500 a month, and it looks good in the same location... then 1500 is obviously too much. So I should budget something more like 1400 because I don’t see any for rent at 1400

Right?

@Dave E.

I am new to this, but in my mind, the rent prices that are still up on zillowand realtor.com are places that have not yet rented. Therefore, rent should be lower than those posted prices, right?

@Brandon Goldsmith

Deals off the market as in craigslist? Facebook marketplace? The newspaper? Where do I find deals off the market?

I have heard of wholesaling, but how do I get in touch with someone that does wholesaling?

@Dave E.

But those numbers depend on a rent value. As you increase the rent you think you can get the investment becomes more and more risky. How can you be sure how much rent you will get when looking in an area where there aren’t many rental comps.?

@Joanne Tsai

20% (55K)

@Greg H.

Good point, there is a difference. I’m trying to get some value, as this is not my primary residence, but I’m not trying to cash flow. Just break even.