Hello DG Members,
In the Midwest, I have began to notice more and more "For Rent" signs on various streets. I began to think about the buy and hold strategy and rental units. I believe the name of the game is to quickly get your unit rented and re-rentd. Nothing may hit the bottom line harder than an empty unit. Thus, know your local area rental rates based on size of the unit, area and condition of the unit. Do not just look in the local paper or on-line.
I had the idea of driving the area and when you see other "For Rent" signs call about the units. Write a summary log of the rental rates in your area, the street the rental is on and the date you called. This will assist you for a current rental or a future rental you may acquire down the road. I hope this helps. Good luck on your rentals and future deals! Believe and Achieve! - Joe
YOU TUBE CHANNEL - Follow me on my You Tube Channel at Joe Jurek Real Estate Investing Adventures
TWITTER - Follow me on Twitter at Joe Jurek CPA
Joe Jurek CPA