All Forum Posts by: Nicholas R Murray

Hey @Matthew Iczkowski! Long time no see man. How’s life been after Holyoke Catholic? I’m also an aspiring real estate investor. Small world, maybe we can help each other out a long the way.

Best,

Nick Murray

@Morgan Klein that’s an interesting strategy trying to move the market up. Have you found that to be successful more often than not?

@John Nowosad thank you!

@Jonathan R McLaughlin thanks for the insights I will definitely take a look at that! :)

@Kyle J. Thanks for sharing the blog post going to give it a read now!

@James Hamling that’s great advice about property management companies! Thank you!

@Taylor L. makes sense. It definitely seems like it’s a balancing act. Thanks for the advice about asking experts in the area to verify rent hadn’t thought about that yet!

Taylor thanks that makes sense! How many properties do you typically want to compare to get a baseline?

@Morgan Klein thanks for the insights about Facebook Buy/Sell/Trade I hadn’t thought to use it in this way!

Has your process in general just been gather data from various sources (Facebook, Zillow, trulia, Craigslist, etc) and once you have enough comps (say 10) to the property take an average of all the asking prices?

I am an aspiring multi-family investor in the process of learning how to analyze deals in preparation to buy a 2-4 family property in the next year. As part of my learning process, I have been trying to implement a system for evaluating the expected market rent of a specific property based on the size, # of bedrooms, # of baths, location, and amenities offered. 

My current approach has been to look at Zillow, Trulia, Craiglist's, etc for comparable properties currently posted for rent in the location; however, since I'm still learning I'm not sure if this is the best approach to determining market rents.

For anyone who currently owns/operates rental properties what is your current process for determining market rent? Do you have any tips, tricks or websites that are invaluable in your process?

Thank you in advance for your help!

Best,

Nick Murray