Finding Rent Comps

[TPA_24]

I am having trouble finding four plex comparables (now I know why I got the assignment versus everyone else....no one wanted to touch this). I have never had an issue finding comparables, but this one is proving difficult. Am I able to call rental companies/realtors to see if know of a four plex rental I could use? I assume yes, but always good to ask the experts

 

[GWISC]

Try searching apartments.com, craigslist etc... See what they are asking for rent. Most often, landlords are getting asking rent.

 

[Meandering]

 

[Elliott]

Are there rental management companies in your area? I use to get an annual print out of all the properties they managed. Doesn't hurt to give them a bottle of 12-year old Glenfiddich at Christmas each year.

 

[Terrel L. Shields]

Am I able to call rental companies/realtors to see if know of a four plex rental I could use?

yes...I cultivated a relationship years ago with an agent who sells almost nothing but specializes in property management. She is now semi-retired but her daughter is running the show. So a smooth transition. You might check the state RE board as some states treat that as a specialty and may have a way to ID such agents. And they likely advertise. So I'd try to locate one who does that. And heck just drive by some parts of town with 4 plexes (they seem to run in "herds" around here.) and see if any "For Rent" signs are out. Give 'em a call and tell them why you are calling.

 

[Fernando]

Go to craigslist. There's another large site (I think it's zillow) which offers active rentals. As long as you have some leased rentals, active rentals work.

 

[Alsie35]

I often use hotpads.com as a starting point on rentals, but that might not work for a 4-plex. As busy as I've been the past few years, I have stopped doing multi-family homes completely (ditto with manufactured homes) - we turn them down automatically as a business decision. They are too much work vs the simple SFRs. But, it took me many years to get to the point of growing a client base large enough to enable me to do that tho, and I have been in your situation in the past. Good luck. You've already gotten some great advice upthread - I know you'll 'crack this nut'. The information is out there - it just requires a bit of 'digging'.

 

[Dublin ohio]

I am having trouble finding four plex comparables (now I know why I got the assignment versus everyone else....no one wanted to touch this). I have never had an issue finding comparables, but this one is proving difficult. Am I able to call rental companies/realtors to see if know of a four plex rental I could use? I assume yes, but always good to ask the experts

What are you using for comparable sales. You can always use those rents.

 

[TPA_24]

This is gold, 'preciate it y'all.

 

[Elliott]

Oh, and there's Zillow's rent site.