All Forum Posts by: Zachary Deal

I don't think there is any easy way to pull a foreign background check (although my guess is it is country specific). It seems like you have done as much due diligence as you can so I think if you're comfortable with it I would go with you gut

I think @Kimberly Gopp has some great advice with the craigslist suggestion. I know Craigslist is very popular for renters and landlords in SF so I assume the same would be true with Berkley. It seems like it is somewhat regional but in the areas it is popular it works well. 

Happy to look at the listing if you want to PM me directly as well!

Hi @Suraj Thapa, I would recommend doing as much online research as you can to see what is currently on the market. Checking out Furnished Finder and Airbnb/VRBO (30 + day stays) is a good place to start. Also, local Facebook groups and Zillow can be other good places to find MTR listings as well. Attending local real estate meetups can be a great place to find other investors as well and get more market specific advice!

I think living on a main road could certainly be a potential deterrent for any potential buyer or renter. While it's not necessarily a deal breaker it's important to ensure that you are paying a reduced rate for the house. For example, the same house that is one or two blocks over on a quiet street should be more expensive. Also, make sure you're factoring in a discounted rental rate as well. If you're able to find similar properties on Furnished Finder or Airbnb/VRBO (30+ day stays) that could help gauge demand/pricing. The other thing to consider is how much of a "main road" is it. If it's just a busy 2 lane road that could have less of an impact than a 4 or 6 lane main road.

@Kiernan LaFaver makes a lot of great points. I think the first thing to consider is location and if the property is more likely to draw traveling professionals such as nurses, tech professionals or contract employees or families. I would recommend checking out Furnished Finder and Airbnb/VRBO for 30+ days stays to see what else is in the market and get an idea of what they are renting for. Also, it may be smart to consider the differences in the rental rate if you were to decide to shift strategies to an STR or LTR one day. For STR data, you can check out AirDNA to get a good idea of approximate revenue.

Sounds like you have a great property for an MTR! I agree with @Wyatt Wolff that if you systemize it you could run it yourself but getting that in place with a 70 hour per week job could be tough and not worth the added stress if you're able to pay a PM to do it and still make a good profit.

It seems like you have but definitely would check out Furnished Finder and Airbnb/VRBO for 30+ days stays to see the competition/average pricing,

Hi John, would recommend checking out comparable properties on Furnished Finder as @Joel Bongco said. Also, checking out Airbnb/VRBO for 30+ day stays can be a good way to try and gauge demand/MTR pricing in your market. Good luck!

Both @Account Closed have great advice. I know a lot of people use Avail but consulting with a local real estate attorney is never a bad idea. It depends on the level of protection/customization you are looking for

Hi @Will Ostransky! I think Allen nailed it. Looking at Airbnb/Vrbo (30+ day stays), Furnished Finder, and even scanning Zillow and Facebook group for comps is likely going to be your best bet.

Hey @Stacy Stilwater, you may want to post this in the classified section of BiggerPockets as well. Good luck with your MTR journey!