Too big!
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Too big! (by WMH [NC]) Oct 18, 2024 12:12 PM
       Too big! (by plenty [MO]) Oct 18, 2024 12:18 PM
       Too big! (by Still Learning [NH]) Oct 18, 2024 12:35 PM
       Too big! (by WMH [NC]) Oct 18, 2024 12:45 PM
       Too big! (by WMH [NC]) Oct 18, 2024 12:51 PM
       Too big! (by plenty [MO]) Oct 18, 2024 12:54 PM
       Too big! (by WMH [NC]) Oct 18, 2024 1:00 PM
       Too big! (by plenty [MO]) Oct 18, 2024 1:06 PM
       Too big! (by Still Learning [NH]) Oct 18, 2024 1:07 PM
       Too big! (by WMH [NC]) Oct 18, 2024 1:43 PM
       Too big! (by BRAD 20,000 [IN]) Oct 18, 2024 2:04 PM
       Too big! (by Hoosier [IN]) Oct 18, 2024 2:57 PM
       Too big! (by WMH [NC]) Oct 18, 2024 3:03 PM
       Too big! (by WMH [NC]) Oct 18, 2024 3:15 PM
       Too big! (by Sisco [MO]) Oct 18, 2024 4:09 PM
       Too big! (by plenty [MO]) Oct 18, 2024 4:26 PM
       Too big! (by Just Tim [AR]) Oct 18, 2024 4:27 PM
       Too big! (by GKARL [PA]) Oct 18, 2024 4:59 PM
       Too big! (by WMH [NC]) Oct 18, 2024 5:11 PM
       Too big! (by Sisco [MO]) Oct 18, 2024 5:41 PM
       Too big! (by BRAD 20,000 [IN]) Oct 18, 2024 6:49 PM
       Too big! (by Lucy [IN]) Oct 18, 2024 7:40 PM
       Too big! (by WMH [NC]) Oct 18, 2024 8:21 PM
       Too big! (by WMH [NC]) Oct 18, 2024 8:22 PM
       Too big! (by 6x6 [TN]) Oct 18, 2024 9:05 PM
       Too big! (by small potatoes [NY]) Oct 18, 2024 10:44 PM
       Too big! (by Ken [NY]) Oct 19, 2024 8:30 AM
       Too big! (by WMH [NC]) Oct 19, 2024 9:15 AM
       Too big! (by PG [SC]) Oct 19, 2024 10:33 AM
       Too big! (by WMH [NC]) Oct 19, 2024 11:27 AM
       Too big! (by WMH [NC]) Oct 19, 2024 11:33 AM
       Too big! (by 6x6 [TN]) Oct 19, 2024 1:33 PM
       Too big! (by Ken [NY]) Oct 19, 2024 2:05 PM
       Too big! (by Pat [VA]) Oct 19, 2024 4:44 PM
       Too big! (by WMH [NC]) Oct 19, 2024 5:02 PM
       Too big! (by BRAD 20,000 [IN]) Oct 20, 2024 12:54 AM
       Too big! (by zero [IN]) Oct 20, 2024 9:05 AM
       Too big! (by Phil [OR]) Oct 24, 2024 6:12 PM
       Too big! (by Phil [OR]) Oct 24, 2024 6:15 PM
       Too big! (by David Krulac [PA]) Oct 31, 2024 4:42 PM
       Too big! (by WMH [NC]) Oct 31, 2024 6:35 PM

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Too big! (by WMH [NC]) Posted on: Oct 18, 2024 12:12 PM
Message:

This is one of our only normal homes. In fact maybe the ONLY real house we have that is a 3-2 (the few others that size are mobiles or modulars.) The rest of our places are tiny studios, small cottages, townhouses.

We bought the place because it was a great deal in a good neighborhood, had an existing ADU (which stays rented) and a current tenant at the time wanted it so it rented immediately after purchase. It was too expensive for them although they stayed 3 or 4 years, struggling the whole time.

Now we *cannot* get this rented.

We painted. We did new floors. New appliances. Fixed up decks. Pressure washed. We listed as a 3-bedroom and got too much interest from 7-8 people wanting to share. It's a SMALL 3-bed, not a beach house. We listed as a 2-bedroom and it's too expensive or too big for those people.

Ideas? Anyone? --173.28.xx.xxx




Too big! (by plenty [MO]) Posted on: Oct 18, 2024 12:18 PM
Message:

It must be a tough market as I had similar problems for three months renting a two bedroom, listed as one bedroom, changed that to 2 bedrooms, changed that to 1 bedroom plus office. Tried everything. Move in specials. Lower rent, higher rent, lower deposit, higher deposit, pets, no pets, signed, new pictures, list goes on and on. Sorry, to read but I feel your pain. I don't have the answer other than keep mixing it up. After three months I did get a extremely qualified person and we are headed towards Nov which is third month and it's paradise right now. It's just not easy anymore and quiet frankly it wasn't any fun... It use to be here are three good applications, I get to pick one! Things have totally flipped. Hint, drinking doesn't help, chocolate was a much better choice! --172.59.xxx.xx




Too big! (by Still Learning [NH]) Posted on: Oct 18, 2024 12:35 PM
Message:

Is the price causing 7-8 people to want to rent it? Could you lower it and maybe get that down to 3-4 people wanting to rent it? I think the economy is causing some of that. I had what I assume was a foreign student at the local university asking about 3 of them sharing a small 1 bedroom. --73.149.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 12:45 PM
Message:

Good thing I gave up drinking a couple of years ago although this house might drive me back since I can't have chocolate either grrr.

The people looking right now are singles and couples. Our normal market.

I'm ready to sell, I don't know how y'all who deal with 'normal' houses and families do this! It's not enough MORE money to warrant the hassle. --173.28.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 12:51 PM
Message:

I just rented a 2-bed 1.5-bath townhouse for $1995 two months ago. This house is $2050 for a 3-bedroom 2-full-bath house with screened deck, yard for animals which we allow.

Guess I will go below $2k. --173.28.xx.xxx




Too big! (by plenty [MO]) Posted on: Oct 18, 2024 12:54 PM
Message:

Yes I'd try $1999 and a little higher deposit. --172.59.xxx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 1:00 PM
Message:

Can't go higher on deposit, I already require 2x the rent but that is not stopping anyone - it's the rent. I looked at all inquiries and even if I cut the rent $100 $200n or so people who didn't self-qualify still will not qualify - I would almost have to go $500 less to change things. --173.28.xx.xxx




Too big! (by plenty [MO]) Posted on: Oct 18, 2024 1:06 PM
Message:

$1999 will pop up if they are searching for under $2000. --172.59.xxx.xxx




Too big! (by Still Learning [NH]) Posted on: Oct 18, 2024 1:07 PM
Message:

Also, I’m not sure where you list. But I finally tried marketplace on facebook and that is where my 3 applications came from. Things are definitely changing. Depending on where you list, maybe try a new place. I did pay the $25 to boost on Zumper and I didn’t really feel they were boosting my listing compared to others. --73.149.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 1:43 PM
Message:

I've been on and off Marketplace, just relisted there. I mainly post on CL and then C&P to a private FB housing group (10k members.) The majority of people looking right now do seem to be singles and couples. The families all want to be nearer a certain school.

Location. We had a person with a horse boarded near the house who was interested, but when Helene hit he went out west to assist and is still there. --173.28.xx.xxx




Too big! (by BRAD 20,000 [IN]) Posted on: Oct 18, 2024 2:04 PM
Message:

W,

We are seeing changes in the "market" here too.

Mid Term Rental?

Rooming house? Put a lock on each bedroom door.

PadSplit.com (they have a great set of rules on their website for renting to non-related persons)

Furnishedfinder.com?

Convert it into 2 apts?

Rent it to an employer who needs housing for his workers?

I understand the fear of beach party house, but maybe 4 legit workers as roommates? Your Coast Gard connections?

Curious to hear how you work this out.

BRAD --68.50.xxx.xxx




Too big! (by Hoosier [IN]) Posted on: Oct 18, 2024 2:57 PM
Message:

Any way to add a wall inside and make it two dwellings? A 1 bedroom and a 2 bedroom? --64.38.xxx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 3:03 PM
Message:

Coast Guard guy was scheduled to see it. Cancelled - said he's going to Saudi. Have no idea if that is true. We googled and yes, we have Coast Guard over there. So oh well.

We do roommates all the time. No one like that has applied except the big groups. Six adults in this house (2 to a bedroom) would be too much.

If it were summer, I'd consider making it a LifeGuard house for higher rent per room, but it's not the season for that of course.

Short term rentals are falling apart: oversaturation.

Mid-term: TONS of winter rentals on the market - lots beach houses renting for the winter at low prices, all utilities included, low bar to entry. Happens every year, different houses though because they end up trashed. But a never ending supply so can't complete with them (don't want to either.) --173.28.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 3:15 PM
Message:

Hoosier we've talked that. But the property already has an ADU so no way to make it legal. Plus not sure it would help: I've already got it advertised as 2-2 rather than 3-2.

I think I'm left with price. :( Hate to do that because it's been advertised for so long, and as mentioned, there's no one who has inquired that could afford it even with a price cut unless it was a big one. I mean the ones who could have already inquired.

Small beach.

One other option: open it to smokers. I've had multiple inquiries that otherwise qualified that smoke.

We just redid the place :( --173.28.xx.xxx




Too big! (by Sisco [MO]) Posted on: Oct 18, 2024 4:09 PM
Message:

W, how long has it been 100% rent ready and advertised? --149.76.xxx.x




Too big! (by plenty [MO]) Posted on: Oct 18, 2024 4:26 PM
Message:

Idea. List with ALE Solutions. It's a company that places families displaced for insurance reasons. They will pay a premium. And I have experience with this company. Free to list. No pictures needed just short description. Give it a tryn --172.59.xxx.xxx




Too big! (by Just Tim [AR]) Posted on: Oct 18, 2024 4:27 PM
Message:

It seems like most people who are in this business for long wind up with a strong preference for one or two property types. This one is obviously not your type - sell it and buy the kind you like. --98.174.xxx.xxx




Too big! (by GKARL [PA]) Posted on: Oct 18, 2024 4:59 PM
Message:

I had a similar situation last year with a beautiful 3/2 that I had renovated. I posted about it here. I sold it. I couldn't rent it and I sold it. I feel the window is going to close on selling once folks realize the situation with rents. Mileage on that varies depending on local conditions and property type. --23.28.xx.xx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 5:11 PM
Message:

GKarl I remember that...at least the ADU is paying the bills for now. No mortgage so there's that.

Sisco, COMPLETELY ready? Just a week or so? But we showed it starting September. Our mistake - it was not ready and we know better... --173.28.xx.xxx




Too big! (by Sisco [MO]) Posted on: Oct 18, 2024 5:41 PM
Message:

Since it has only been a week, stick to your price and screening criteria.

You know your market and how to correctly price. --149.76.xxx.x




Too big! (by BRAD 20,000 [IN]) Posted on: Oct 18, 2024 6:49 PM
Message:

Interesting.

I have homes that are rented too low or even left vacant. I value my FREEDOM!!! Debt free offers a lot of FREEDOM!!! and reduces A LOT of anxiety. At one point I had 34 homes sitting vacant. Each needed work and I didn't want or need the stress, nor needed the income.

If you don't like it, sell while prices are still high. Life's too short to stress over a house and it's not like you'll starve.

Consider DONATING IT or the use to a church, charity, etc. and enjoy the write off of the expenses.

And every new D president has tried to eliminate a discounted capital gains tax and one even tried to eleminate 1031 exchanges. So know that might be happening soon.

Another concept Vena has talked about - just swap it (1031) with another investor who LIKES a 3/2. Your ADU is an awesome bonus to get their juices flowing for a fast sale.

BRAD --68.50.xxx.xxx




Too big! (by Lucy [IN]) Posted on: Oct 18, 2024 7:40 PM
Message:

I just created an ad to give last month free. Don't know if it will help. My duplex has been empty way to long and I really prefer not to pay heat this winter. I wish I could take a dog. But thin walls wouldn't allow. I've put it on FB, Zillow and Craigslist. Months and months..nothing. If you find the secret, please share! --64.184.xx.xx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 8:21 PM
Message:

I'm starting to this should maybe just become a smoker's house. It's got a covered, screened deck that would be an "outside smoker's" paradise. I've had at least 4 or 5 solid inquiries that smoke.

And the ADU brings in as much as many people get on a SFH so we could let the house sit empty without too much pain. --173.28.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 18, 2024 8:22 PM
Message:

I'm starting to this should maybe just become a smoker's house. It's got a covered, screened deck that would be an "outside smoker's" paradise. I've had at least 4 or 5 solid inquiries that smoke.

And the ADU brings in as much as many people get on a SFH so we could let the house sit empty without too much pain. --173.28.xx.xxx




Too big! (by 6x6 [TN]) Posted on: Oct 18, 2024 9:05 PM
Message:

Basically, same as Plenty.

I have also considered same as you about allowing smokers, but I don't think I will. It was a smoker's house with cats to start with and required a lot of cleaning.

I am in a college town and usually get lots of students inquiring, but nothing now. Have gotten lots of out of state and Hispanic.

Going to try a few more improvements on the house and see what happens.

You may try lowering your price to below 2K and list as you said, small 3 bedroom. Maybe even list the sqft of the bedrooms. --73.108.xxx.xxx




Too big! (by small potatoes [NY]) Posted on: Oct 18, 2024 10:44 PM
Message:

I've been trying to rent my nice B unit duplex with heat n HW, private parking and W&D, since August. Thought I was hot stuff and stated at 2K dropped to 1850 then 1750. Crickets until 1,675 and even now it's only 1-2 inquiries. The market is collapsing. My competition is all the newbi investors offering all inclusive 'new' rentals for 1500. That would be going backwards a bit from the previous resident which was at 1685.

WMH you might try 1775. --67.240.xx.xx




Too big! (by Ken [NY]) Posted on: Oct 19, 2024 8:30 AM
Message:

WMH- have you considered a smoker who says they will smoke outside? you get a double deposit anyway and you can charge them to fix the damage --104.131.xxx.xxx




Too big! (by WMH [NC]) Posted on: Oct 19, 2024 9:15 AM
Message:

Ken, I think I'm going to do that. And advertise it that way - and tell the next folks someday if you don't smoke don't complain: this is a smoker house. --173.28.xx.xxx




Too big! (by PG [SC]) Posted on: Oct 19, 2024 10:33 AM
Message:

I read all the post - is PRICE the issue? Uncertainty about the economy? Uncertainty about the election. Stagnate wages?

I am trying to determine what to expect when I advertise a nice SFH 2x1 that is rent ready.

--75.182.xxx.xxx




Too big! (by WMH [NC]) Posted on: Oct 19, 2024 11:27 AM
Message:

Smaller places still seem to rent quickly. Not only are they cheaper most of the time, but time of year doesn't affect singles and couples as much as a larger home where you would expect kids and families to need to worry about schools. --173.28.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 19, 2024 11:33 AM
Message:

Well after much discussion, I've listed it as SMOKERS OK. In the text I said Outside Smokers Allowed and described the huge covered, screened deck as a "Smoker's Paradise!" which it is.

I also lowered the rent $100, so that took it under $2k. We'll see!

Fingers crossed. --173.28.xx.xxx




Too big! (by 6x6 [TN]) Posted on: Oct 19, 2024 1:33 PM
Message:

PG, I think it is a number of a lot of things. --73.108.xxx.xxx




Too big! (by Ken [NY]) Posted on: Oct 19, 2024 2:05 PM
Message:

Good luck, let us know how it goes --104.131.xxx.xxx




Too big! (by Pat [VA]) Posted on: Oct 19, 2024 4:44 PM
Message:

How much would you want if you decide to sell? I've been thinking of selling the condo if we could find a stand alone that we can afford. --216.126.xx.xxx




Too big! (by WMH [NC]) Posted on: Oct 19, 2024 5:02 PM
Message:

Not ready to sell yet - the ADU alone makes the entire property cashflow. The main house is now extra cash. :) --173.28.xx.xxx




Too big! (by BRAD 20,000 [IN]) Posted on: Oct 20, 2024 12:54 AM
Message:

Maybe name the house '4:20' with a "don't ask, don't tell" subtitle.

BRAD --68.50.xxx.xxx




Too big! (by zero [IN]) Posted on: Oct 20, 2024 9:05 AM
Message:

Hope that the ADU isn't too close to the smoker's paradise.

Having just recently changed my open places to smoke free I am hoping that I do not have to change it back. --107.147.xx.xx




Too big! (by Phil [OR]) Posted on: Oct 24, 2024 6:12 PM
Message:

It may be the time of year. Many that want a 3 bedroom 2 bath have children in school---and want to be in place by the time school starts. We have 2 larger houses that we only rent on a one-year lease June-June for that specific reason.

Speaking of that--how are nearby schools rated? THAT can also make a difference. Look it up--if the school(s) are rated well make sure to mention that in your ad.

How "walkable" is it? Bike trails?

Location matters to renters also.

We allow pets- with extra deposit and pet rent--that helps also. --76.138.xxx.xxx




Too big! (by Phil [OR]) Posted on: Oct 24, 2024 6:15 PM
Message:

How far are you from the places that got hit hard with the floods? Advertise in That market---someone will want to move into a livable home. --76.138.xxx.xxx




Too big! (by David Krulac [PA]) Posted on: Oct 31, 2024 4:42 PM
Message:

According to HUD, the Median Rent for 3 br in Dare County is $1,874. Median means 50% of rents are higher and 50% of rents are lower. Personally most of my rents are in the top 50% not the lower 50%.

But if you wanted to go Section 8, they would pay the Median Rent minus utilities paid by the tenant.

We've rented also to Group Homes and they typically pay very good rent often above market and they stay a long time. We don't do drug houses, half way houses, or recovery houses. Mentally challengded and Veterans a re two groups that we would rent to. Others also rent to seniors, either independent living or assisteded living arrangements.

We've had tenants stay for longer than 30 years, and average 12 years stays.

If you don't want to sell, I understand, even though I sold 7 properties this year, there are others that I hesitate to sell. But one tactic would be to advertize rent to own, with a sale sometime down the road. --173.67.xxx.xxx




Too big! (by WMH [NC]) Posted on: Oct 31, 2024 6:35 PM
Message:

We have few schools in the area! No choice at all. Very rural county, but only 15 minutes from the beach.

It's the most 'walkable' house we have, and it is near the Equestrian Center, quite close to a small boat ramp, and walking distance to a golf course. It's a country location 15 minutes from the beach. Best of both worlds!

The ADU is actually further away than the neighbors!

We are hours and hours and hours from the flood zone. NC is a wide state. About 11-12 hours to Ashville from here.

I dunno... --173.28.xx.xxx



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