Dallas-Fort Worth Real Estate Investor Club

Getting tenants to lease property that is over $200K?

  • 26 Jun 2009 11:44 AM
    Message # 189016
    Deleted user
    I think you would run into problems finding potential tenants in the DFW area for properties that are in this price range (or higher).  Even if there are several people that will be signers to a lease. If they are sharing the rent for example, one might have trouble coming up with their part of the rent.  I would like to hear from anyone that has managed to keep a property under lease that is in this price range or higher.


    Last modified: 26 Jun 2009 11:44 AM | Deleted user
  • 26 Jun 2009 6:46 PM
    Reply # 189151 on 189016
    Deleted user
    Randal Best wrote:I think you would run into problems finding potential tenants in the DFW area for properties that are in this price range (or higher).  Even if there are several people that will be signers to a lease. If they are sharing the rent for example, one might have trouble coming up with their part of the rent.  I would like to hear from anyone that has managed to keep a property under lease that is in this price range or higher.



    Randal,

    Those properties are the most profitable but can bring you down if you do not by low enough.  My most profitable rental is in Grapevine which leases for $2650/mth (Property is valued at $330K).  The checks are paid by a third party for the tenant and I receive it like clock work on the 27th or 28th of the month.  My cash flow on this particular home is over $600/mth. 

    I did, however, go through my worst tenant on this home.  She filed Pauper's Rights thru the court system and almost got away with living in the property rent free for 5 months.  The lost rent and making the property rent ready again was a big hit but as a landlord you just have to make sure to always have cash reserves.

  • 29 Jun 2009 12:01 PM
    Reply # 189724 on 189016
    Deleted user
    Wow, thanks for the info Rocky!  Who the heck can afford to pay $2650/month in rent?!!  I see you mentioned this was through a 3rd party?  I'm assuming it was sub-leased or something?  Id like to ask you more about this when you have time. Are you going to be at next weeks Nuby's meeting (July 4/5) ?  If not, email me sometime at portalsitellc@gmail.com


Powered by Wild Apricot Membership Software