How do you find a rental property?

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earthbm_IHB

New member
Ok, so I gave up on the ide of private schools, so that helped me narrow my target search to Turtle Rock and Shady Canyon (maybe Quali Hill)... How do I find a place for rent? I suspect a lot of good places are not listed for rent, but rather for sale. Yet if I come to them with a 1yr lease offer they may say yes. My relocation agent is not particularly imaginative, so I am thinking that I may have to do it myself.... I am looking to pay 4-5k/month for a 4-5br..

Where should I start?
 
Hi earthbm, there's been a lot of threads discussing this topic. You may find some good information by typing "rent" in the search area at the top of the Forums.

Good luck with your search.
 
All the technology aside, frankly, I still find the most productive method of finding a stable and reasonable landlord that will have a very competitive price is to know the area you like and simple drive it on a late Saturday morning. Wind through every street on the Thomas guide and take a pad and pen with you. I'm still amazed at the number of people that merely put a sign out.

I haven't done the OC Register or Pennysaver lately, but they too would be good sources for private landlord when looking for an SFR/townhome. Just do yourself a favor and skip over the well known property management firms. If you do that, just go IAC.
 
Did just what No_Such_Reality said. Rode my Ducati around Turtle Rock/Ridge/Shady Cyn/Quali Hill. Actully met a helpful agent in an open house on Turtle Ridge.

How's this for a plan:

Fine homes for sale on MLS that have been on the market for 120 days or more, unoccupied, and are listed for $1.5m. Check when they have an open house and show up offering them a $5k/month lease for 1yr.

Do you think it might work? Are my numbers in the ballpark (5k-1.5m)?
 
earthbm - Yea, sounds good, except I wouldn't wait for an open house. The agent sitting on the open house is rarely the listing agent and I would speculate that agents sitting on open houses have little to no incentive to make contact for a prospective renter. Go straight to the listing agent.
 
earthbm

awgee is correct on both counts. Most agents don't want to do rentals or leases except for prior clients as a courtesy since leases are lots of work for no money.

It sounds like you have a good plan.

Regards
 
I would go one step further and try to determine if the property cash flows for the landlord. Negative cash flow, use extreme caution. They might be a stuck flipper.
 
Thanks guys. At this stage, in the neighborhoods that seem to work (T.Ridge and Q.Hill) any property would have negative cash flow. Given how much distress I've seen in these areas and the vibes from my job in the financial markets, I will lowball the bids (compared to expectations, not reality) on the couple of houses I selected. If the owners choose more pain of making mortgage payments without any cash flow from my rent, so be it. IAC will get another renter. (Given that my mother-in-law is part of the package, renting a separate unit for her at an IAC complex has certain appeal).
 
eff said-

"They might be a stuck flipper. "

I skimmed through that and the first thing I saw was "They might be a f***ed slipper" and thought...is that new snarkese that I haven't heard? Kinda mean + cuddly rolled into one?

Uh, no...I've just been staring at the computer too long today. Carry on.

SCHB
 
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