All Forum Posts by: Ashwin N.

 LOL touche

OK I will chill out. Thanks all, appreciate your thoughts. 

 Thanks Leslie. Our property manager does do ads I believe, however, they manage over 50 properties so I am sure the ads are for their landing page only and not to our specific cabin. I am evaluating if me spending a bit extra to drive traffic directly to my cabin on their website is worthwhile. Any general pointers you can offer on what type of google ad, time of week, time of day etc. works best, I would really appreciate it. 

Hello,

Wife and I bought an STR in Broken Bow, OK recently and hired a property manager. Rentals are starting to pickup and we are excited to see where it goes.

Above and beyond what the property manager does, is there any targeted online advertising that we can do as owners to increase rentals? We would take banner ads or similar with links to property manager website. 

Are folks here familiar with ad agencies that do this on our behalf? Success rates? 

Thank you all for your thoughts so far. Really appreciate everyone's input. I will be wary of rents posted in listings. What's the general point of view on tenancy at will versus leases, in an area like Worcester? I have leases in my current property in Medford as I was advised that it gives the landlord a bit more protection in case of problem tenants. Is that true or did I get incorrect advice?

Hello,

Hope 2018 is off to a good start for everyone. I am considering my next rental income property and as I am evaluating supply for CAP rate and rent to price ratios, I have a few questions I wanted to run by MA investors. Thanks in advance for your thoughts.

Background: I am looking to purchase a 2/3/4 unit property that's relative turn key. My primary goal is rental income. Though I wouldn't turn down a long term equity play, that's secondary for this go around. The biggest risk I would like to safeguard against (as much as possible anyway) is tenant eviction etc. as I have a full time job and real estate is just a hobby/supplemental pursuit. I live in Boston so I will most likely get a property manager for this property.

Here are my questions. 

• 2 or 3 family properties in a town like Fitchburg seem to be around $150k, and the rents advertised in the listings seem to put them at close to "2% properties" i.e., monthly gross rental flows are close to 2% of the purchase price. CAP rate and cash on cash rate are both correspondingly very high.
  
  My questions - What are the downsides? Should I expect a lot of tenant turnover in these towns compared to more prosperous/wealthy towns? Should I expect tenants to miss rent payments or be regularly late? Would hiring a property manager lower any of these risks or not really? 
• 2 or 3 family properties in Worcester seem to be about twice that - at around $275-$300k. Rental incomes seem to be the same (~$3k a month gross) which puts the rent to price much lower. 
  
  My questions - Would the lower rent to price ratio be offset by any obvious upsides such as better tenant pool, less likelihood of tenants defaulting, lower turnover, etc.? Or is that not realistic?

Thanks a lot guys, appreciate the input.