Another free tool to offer your investors

By
Real Estate Agent with Keller Williams Realty

Yesterday I got a call from one of my investors and he gave me a free tool to offer my other investors who own rental properties. I love it when people from the Empowered Investors group share what they have found, without worrying about losing business or a competitive edge in the market place.

This group is so willing to share with each other, they'll work together to do 1031 exchanges. They just share new marketing ideas or cost saving loans with each other. It really is a community of investors wanting to help each other.

So, this freebie that he shared, that you are free to share with your investors and maybe even use your self, is www.RentOMeter.com. This website lets you put in an address and it gives you all the rentals in the area, and what they are renting for, to help you, the investor, decide if you are charging too much or too little for your rental property.

With the aid of this site, my investor was able to raise the rents on 10 of his 12 properties. With the printout from the website, the tenants didn't even blink an eye at the rent increases. Now he is making almost $1000 more per month all because of this free site that showed he wasn't charging enough for his rentals compared to what the others were renting theirs for in the same neighborhood.

Good luck and happy investing.



Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739

Pictures are from www.RentOMeter.com.
Posted by


Todd Clark (broker w/ Ken's Home Team)
Keller Williams Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)746-9573

 

 

 

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 I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard. All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.

 

What if there was a way you could search the  MLS for FREE just like Realtors

Now you can access the MLS using similar tools as Realtors. You are in control of what you want to search for, and you can search the MLS at your leisure. The information you submit in the form below can also be used to put you on an automated system where you'll be emailed all homes that meet your search criteria. You'll get internet access to a website that includes pictures, prices, and addresses to real estate that's listed in the MLS!

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Groups:
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Tags:
rentometer
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Show All Comments
Rainer
44,064
Linsey Ehle
M Realty - Rancho Santa Margarita, CA

LOVE this and perfect time.  I have a vacancy in my own property and we are setting pricing for a new lease.  Very cool.  Thanks to you and Empowered Investors!

Aug 05, 2008 11:45 PM #3
Rainer
122,256
Pam Winterbauer
Pam Winterbauer Real Estate - San Ramon, CA
"Providing Blue Ribbon Service"

Todd.....sounds like terrific tool for our investors.  let's see how this plays out.

Aug 05, 2008 11:45 PM #4
Rainer
52,693
Ralph Nudi
Weichert, Realtors® - Precision - Kenosha, WI
Improving the lives of our Clients and our Agents

WOW TODD,

I work with many investors and will be checking this tool out.

Thanks!

Aug 05, 2008 11:48 PM #5
Rainmaker
225,435
Dora & Vincent Kwok
HomeSmart Real Estate - Chandler, AZ
CNE - Chandler, Arizona Real Estate

Interesting site...any idea on the accuracy, completeness and timeliness of the data?

 

Aug 05, 2008 11:51 PM #6
Rainmaker
1,198,635
Tony & Darcy Cannon
Keller Williams Legacy - Woods Cross, UT
The C Team

Todd, thanks, I will have to get good at using it so that I can have my investors use it.  Thanks again for sharing!

Aug 06, 2008 12:20 AM #7
Rainer
73,244
Pam Pugmire
Silvercreek Realty Group - Meridian, ID
Meridian Idaho Real Estate

Great tool!  I will pass this along!  This is always a big concern for investors.

Aug 06, 2008 12:30 AM #8
Rainmaker
292,135
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Todd- Thanks for sharing this...I will go look at it and see if it matches my area :)  Don't ya love it when people aren't afraid to "share"......I just think it makes it good for all of us.

Aug 06, 2008 12:42 AM #9
Rainmaker
1,422,651
Tom Braatz
Re/Max Realty 100 262-377-1459 - Oconomowoc, WI
Waukesha County Realtor Real Estate agent,Waukesha

Todd

What a resourceful tool

Thanks

Tom Braatz

Aug 06, 2008 01:20 AM #10
Rainer
36,058
Libby Cousins
Extraordinary Processing - Spokane, WA
Contract Mortgage Processor

Wow Todd, thanks for sharing!  I checked out the site and love it. I checked our current rents and it does say that we are pretty low on one of the units (which we thought but haven't wanted to raise). I am going to bookmark the site for future reference.

Aug 06, 2008 02:18 AM #11
Rainmaker
202,734
Venancio Gonzalez
Windermere Kelso/Longview - Longview, WA
Cowlitz County Real Estate Broker

Todd - this is a great tool. I'm sure couple investors that I work with will appreciate it. Thanks for sharing.

Aug 06, 2008 03:14 AM #12
Rainer
274,098
Adam Waldman
Westcott Group Real Estate Company - Hauppauge, NY
Realtor - Long Island

TODD - Thanks for sharing this tool.  It will come in very handy for investors.  It can even be used by potential renters to see if the rent is in line with similar rentals.

Aug 06, 2008 03:17 AM #13
Ambassador
879,722
Larry Bettag
Larry Bettag - Cherry Creek Mortgage - Saint Charles, IL
Regional Vice-President

Todd...this is bookmarked....I love it...thanks.

Aug 06, 2008 08:38 AM #14
Rainmaker
645,539
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

TC,

I liked this so much, I included it as a link on my blog!!! Thanks,   Fran

Aug 06, 2008 10:47 AM #15
Ambassador
2,034,852
Todd Clark
Keller Williams Realty - Beaverton, OR
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494

Lynn - I hope it helps you and your clients.

Jon - I think this is a great tool to share with your clients and it makes you look like the best choice to be their agent when you have something to offer that no one else does.

Linsey - I will tell them at the next meeting!

Pam
- It has already made my client a little bit more money each month.

Aug 07, 2008 12:25 AM #16
Ambassador
2,034,852
Todd Clark
Keller Williams Realty - Beaverton, OR
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494

Ralph - Hope it works for you and gets you even more business.

Dora or Vincent - From what I understand from talking to the owners of a couple of these renters, it is pretty darn accurate, as for updates, it seems every time someone raises the rent they check back here and it is updated by them at that time.

Tony or Darcy - It is easier than you think, it took me 15 seconds to figure it out.

Aug 07, 2008 09:54 AM #17
Ambassador
2,034,852
Todd Clark
Keller Williams Realty - Beaverton, OR
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494

Pam - Wait until I show the next find we found at the meeting we had last night!

Kathy - Hmmm, isn't that what Activerain is all about?

Tom - I hope it helps!

Aug 07, 2008 04:16 PM #18
Rainer
27,682
Tracy Soussi
Charlotte, NC
NC & SC Broker - Large Bank Foreclosures

Great idea!  Thanks for sharing.  www.tracysoussi.com

Aug 07, 2008 08:13 PM #19
Rainmaker
377,919
Mark Hall
Elite Realty NW - Keller Williams, Vancouver Washington - Vancouver, WA
Homes for Sale Vancouver Washington

Todd,

Once again an AWESOME post and a great tools to add to my bag of tricks! Keep 'em coming!

YOU ROCK!

mark hall vancouver wa real estate

Aug 08, 2008 05:34 PM #20
Ambassador
2,034,852
Todd Clark
Keller Williams Realty - Beaverton, OR
Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494

Libby - If you print out the results and show it to your renters at the time of the rent increase, there isn't much they can say if they want to stay.

Venancio - The best part is if you show them your value, they won't even consider using someone else.

Adam - I am starting to use it with some of my lease options to show that if you want to rent, you can pay this, but if you want an option to buy, you have to pay more.

Larry - I hope your clients love it just as much!

Fran - That is awesome, is that part of your one stop website idea?

Aug 08, 2008 08:14 PM #21
Rainmaker
65,615
Lisa Long
Heather Roda Broker - Paso Robles, CA

good info. I have a rental in Beaverton myself, I noticed that is where you are at, small world.

Aug 11, 2008 01:02 AM #22
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Todd Clark

Broker - Beaverton, Oregon Real Estate Expert - (503) 524-9494
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