U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 02-05-2019, 10:24 PM
 
5 posts, read 3,455 times
Reputation: 10

Advertisements

Hello all! I've recently started dabbling with single family home rental properties in central Texas. I was wondering how like-minded individuals with more experience than I in single family home rentals look for deals? How do you search? What particular websites do you typically use to source potential deals (other than realtor, zillow, craigslist, FSBO websites). Any specific tricks of the trade that have worked for you in the past? Really any particular information that you're willing to share would really help me out as a novice looking to break into the business.

I've recently noticed that once I run the numbers, the list price is pretty far above the price i'd need to get a home for in order to have a home cash flow on rental income.

Again, any thoughts on this subject, ideas, or suggestions/tips would greatly be appreciated!

Thanks in advance.

JVC
Reply With Quote Quick reply to this message

 
Old 02-06-2019, 05:35 AM
 
Location: The Triad (NC)
27,573 posts, read 59,625,807 times
Reputation: 30607
Quote:
Originally Posted by agxjvc View Post
...noticed that once I run the numbers, the list price is pretty far above the price i'd need
to get a home for in order to have a home cash flow on rental income.
Of the 100 or so homes close by... how many are already rentals?
Reply With Quote Quick reply to this message
 
Old Yesterday, 03:11 PM
 
Location: North Idaho
21,503 posts, read 26,900,331 times
Reputation: 40818
You have less chance of finding a listed house that will cash flow. You need a "we buy houses" advertising campaign to find houses with distressed buyers before they get listed.


Of course, the distressed houses need a lot of repairs and updating, so you need a team of construction workers available. That's tricky to do if you don't live in the neighborhood.


Your other option is to find an agent who specializes in fixers for investors. I don't have anyone to recommend, but they are out there.
Reply With Quote Quick reply to this message
 
Old Today, 08:14 AM
 
Location: Raleigh NC
8,325 posts, read 6,542,228 times
Reputation: 7383
personally, I don't advise that people make their first property owning experience a rental. You should buy your own home first. Others may differ.

beyond that, an agent in your locale would need to help identify opportunities. In my "hot" market, the hottest locations you can't rent out and get positive cash flow. But there are many areas that you can, and you can see appreciation over the years.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top