Comps are pretty easy to find when looking for ARV. But, how do you go about finding out what market rents are besides calling other houses for rent in the area?
Shaun,
You can look in the classified ads in your local newspaper, many “For Rent” ads will list the rents. Also, you can talk to other investors at your REIA.
Good Luck,
Mike
Have a realtor print you off the rentals that have sold in the areas surrounding your home. In my neck of the woods all multiunits are listed with what they get for rent. It isnt always perfect but it can help give you an idea.
Eric Medemar
I agree with Eric. When you are buying a property I would ask your realtor for comps on the property you are buying as well as area rents. I also usually pay attention to rents in the area to see if rents are going up or down. I then usually ask for a little less than the average rent so my properties do not stay vacant for long.
ericmedem is right. The key pharse he used is rentals sold, not asking rents.