Posted by Steve-WA on May 18, 2006 at 18:22:37:
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Setting the Rent Rate - Posted by Tim (NC)
Posted by Tim (NC) on May 17, 2006 at 20:11:33:
I just finished reading and listening to the collected works of Tony and Scott (thanks guys) and am ready to get my first DW on land. I’ll be meeting with a realtor tomorrow to walk through the inside of the 3/2 home. I’ve already peeked in the windows and walked around so I expect to be making an offer on this home. The problem is that the value of the home to me is dependent on the cash flow, which is in turn dependent on what I can rent it for and the cost to purchase and get it ready for tenants. I’ve got a couple ideas on ways to get in the ballpark but since mistakes cost money, I would like to have the advice from others on how to set the rent rate for a house in a new area. Thanks in advance for all your help.
Tim