Clients Will Thank You

The out of state investor typically assumes that our rental rates are similar to theirs. This assumption proves to be costly when it is time to locate a suitable tenant. As a general rule of thumb, it will take 25 percent down to allow a rental unit to break even. This 25 percent figure does not include the rehabilitation costs discussed earlier. As a buyer's agent assist your client by being realistic about foreclosed properties to be used as rentals. Your clients will thank you and perhaps purchase more properties.

Peter Meer is President/Broker of Meer & Company, Inc., 303-322-1550, which manages 150 single family homes and properties in Denver, Colorado. He holds the Master Property Manager (MPM) designation and the firm holds the Certified Residential Management Company (CRMC) designation from the National Association of Residential Property Managers (NARPM). To learn more about Peter's Landlord solutions visit www.coloradolandlordsolutions.com website. Or visit Meer and Company website at www.meerandco.com.