All Forum Posts by: Justin Welling

I agree with Justin.
Rentometer.com is pretty great, at least as far as it's able to find sample rents.

I think they offer a free trial, but if you need me to I'd be happy to look up a property for you and send you the results, if that would be helpful.

I use the data as a factor in my calculations for investments, and it's super-helpful info.

Edit: Oh, and us Realtors tend to use Rentometer.com as well. We can pull data from the MLS, of course, but many rentals never go on the MLS so it's incomplete data. Rentometer pools from MLS, Zillow, other public data, etc...

Michael, thank you very much for that info. Great to know, and I will certainly keep your offer in-mind if I come across a property!

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Helpful info. Thank you!

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Investment Info:

Single-family residence buy & hold investment.

Purchase price: $312,000
Cash invested: $31,200

This is our first home purchase, as a mixture of our personal home and our first investment in which I plan to gain a lot of experience for future investments. Single-family unit. 3 bed 2.5 bath 2-car garage 0.5 acre lot. Plan to do a long-term live-in flip with plans to either refi and sell/rent, or utilize heloc to fund a future deal.

What made you interested in investing in this type of deal?

Unique position of being newly married, newly relocated, and needing/wanting a place to live while also wanting to make an investment out of our first home purchase. We plan to live here for the next 7-10 years, if not longer, and take advantage of both natural and forced appreciation over that time. At that time, we plan to evaluate our best option: refi and sell; refi and rent; or refi and utilize a HELOC to fund another deal.

How did you find this deal and how did you negotiate it?

Connected with a local real estate agent through open houses. Negotiations occurred between buyer's and seller's agents.

How did you finance this deal?

30-year conventional, 10% down. 30K private money.

How did you add value to the deal?

To be completed...We will be face-lifting the exterior/landscaping, renovating the kitchen, renovating the basement (including adding a half bath).

What was the outcome?

TBD

Lessons learned? Challenges?

TBD

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Absolutely. Benjamin Kramer with Compass Pittsburgh.

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Howdy BP community. Currently trying to check average rent prices in different areas of my market (Pittsburgh, PA area), particularly for privately owned single family and town-home units, and was curious if anyone knew of a great resource for doing so? I'm aware of the obvious sites such as rent.com for data on available units, but what about a resource for units that are NOT currently available (i.e. currently rented out by a tenant/units rented within the last year)?

Thanks for any feedback.

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All Forum Posts by: Justin Welling

Justin Welling has started 2 posts and replied 4 times.

Post: Best resource for checking rent comps?

Post: Best resource for checking rent comps?

Post: First home purchase!

Post: Best resource for checking rent comps?