The best market research I did

Nothing would make me fill my shorts like posting my property for rent after buying it and getting crickets. Before I bought my most recent property, I had anxiety… and not really for any good reasons, truthfully. I had done my due diligence, but I was still worried about not being able to rent it for what I was planning on. But here’s what I did to settle and curb that anxiety and I HIGHLY RECOMMEND IT.

I did this after I had my offer on the house during the due diligence period. Take a sunny Sunday afternoon, when everyone is home and hanging outside, and walk around the neighborhood for a couple hours.

Almost all my conversations went like this:

Me: “What up man, how are you guys doing?” Neighbor: hesitance “Good.” Me: “Cool, well I’m thinking about buying the house around the corner and was just walking around checking out the neighborhood” Neighbor: hesitance GONE “Awe, no way. Cool man.” Me: “You like living here?” Response Me: “Yea I was talking to your neighbor and she said she really liked it too. Hows the neighborhood?” Response Me: “Do you rent?” Response Me: “Is it expensive? How much do you pay per month if you don't mind me asking?” “Is that a 3 bedroom, 1 bathroom?” “Did you have a hard time finding a place?” BLAH BLAH BLAH

I talked to 15-20 people. Found out there were already tons of renters, neighborhood was good, people liked living there, they were friendly, rents were increasing, and I now had 15-20 data points for SFH type and rent

Also, good idea to keep notes in your phone. If you don't, you’re not going to remember who said what.

More real estate tips at Program Realty Wix site


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