Need help in finding a house to rent this week. - Posted by Thurman

Real Estate Investing
1

Posted by def on March 15, 2006 at 15:22:18:

where are you located?
how much can you afford monthly?

2

Need help in finding a house to rent this week. - Posted by Thurman

Posted by Thurman on March 15, 2006 at 14:58:13:

I need to find a house for my wife and myself to rent or rent-to-own within the next week.

Any suggestions on locating probable housing? I have talked to all the local Realtors; inserted “wanted to rent or rent-to-own” ads in all local newspapers and placing the ads in the real estate for sale column of each newpaper (to attract sellers whose house has on the market for a while); asking nearly everybody that I meet; call on certain for rent and for sale ads without any success.

I suppose I will have to lower my sights and rent a less desirable smaller house for a while until I find the right house for my wife and me. I hate to thought of having to move twice!

Any suggestions will be appreciated.

Thurman

3

Re: Need help in finding a house to rent … - Posted by Frank Chin

Posted by Frank Chin on March 16, 2006 at 07:38:17:

Thurman:

The problem has to do with:

  • Type of housing, ie. a larger SFH
  • Location, ie, towns where everyone owns a house.
  • Where we are in the RE cycle, ie, everyone is selling at the top of the market.

I own a small SFH in a town near NYC, and I got more people than ever looking to rent the place last year because:

  • The guy across the street from my rental who rents asked me about my rental several months after I rented out mine mentioning that its the only one left in town, and he wanted his children to stay in the same school.
  • Many people came by because they sold their own SFH beleiving the market peaked, or, because their landlord sold the house.
  • A friend who lives in a small NJ town mentioned that when his mom put her house up for rent, there was a land rush as it was the only house in town up for rent, within the past year.
  • At this part of the RE cycle, owners cannot “cash flow”, so many do not invest in desirable areas. In less desirable areas, where rentals are more desirable, you may not wish to rent.

Bottomline, its tough.

Solution. Look in areas with more rentals, go for one side of a duplex. You might try putting an ad in Craig’s List.

Frank Chin