All Forum Posts by: Cody Barna

Hi Merlin If you can find something that makes sense to own I would go for it, besides breaking even or coming out of pocket a few hundred dollars per month is still better than paying full market rent an apartment. Not to mention the benefits that come with owning an investment property such as tax savings, appreciation, loan pay down, etc.

Hi Roland I recommend reaching out to a local real estate agent, they should be able to pull that data off the MLS for you.

@Kurt Toth if the property is located in a good market that will generate rental income that makes sense then I would hold onto it. I'm assuming you payed cash which leaves you more room to cash flow, if that's the case then it should make a good rental. If you were set on selling in it then I would stick with very light cosmetic work and list the property asap, at that price point it'll be tough to make a profit if you go overboard with renovations. If you're unsure about the market, reach out to a few property managers and RE agents locally to get their opinion regarding rental rates.

@Srdjan Ilic besides Rentometer I've found BiggerPocket's Property Insights to be extremely valuable. It's one of the many benefits of becoming a pro member, if you watch any of the webinars they typically offer a discount code at the end. Another effective way is reaching out to local property managers and RE agents, they should be able to tell you what to expect for that specific location. I've personally found value in calling near by landlords as a perspective tenant, you can find out vacancy rates, amenities being offered and rental rates. Hope this helps, good luck!

@Lucas Croteau no worries! I sent you a PM.

@Naftali Tolibas I appreciate you going so in depth, you made a lot of really good points. I definitely have a few things to consider, food and flying being two of them.

@Ameera Aladimi thank you! I appreciate the info, is there any particular areas around Tucson that you would recommend avoiding?

@Mike Harris I would always plan on it being the higher of the two just in case. I’m sure there’s certain circumstances that could increase the number based on location and transaction details.

@Mike Harris for a quick ballpark figure, assume about 2-5% of the purchase price.

@David Brackett Jr no worries!