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How I Analyze Market Rent (So You Don’t Leave Money on the Table or Sit Vacant)
Manage episode 497198102 series 3612499
In this episode, Garret Wong breaks down the most overlooked but mission-critical number in real estate investing—market rent. Learn why pricing too high or too low can kill your cash flow, and how to use real-world data (not guesswork) to nail the number every time. Whether you're a first-time investor or seasoned landlord, this episode could save you thousands.
Timestamps:
[00:00] Introduction
Garret explains why accurate market rent is essential to any real estate strategy.
[00:36] Topic 1: Why Getting Rent Wrong Costs You Real Money
How bad estimates can sit your property vacant for months—or ruin your returns.
[03:01] Topic 2: How to Analyze Comps Like a Pro
Pulling active and rented comps, factoring in square footage, condition, and amenities.
[05:28] Topic 3: Why You Shouldn’t Ask Your Realtor About Rent
A bold but honest take on data reliability—and avoiding conflict of interest.
[07:54] Topic 4: Demand, Vacancy Rates, and Pricing Power
Understanding economic indicators that help you adjust rent intelligently.
[10:11] Topic 5: Seasonality, New Developments, and Dynamic Pricing
How external factors like time of year and nearby construction affect rental value.
[12:33] Topic 6: Showings, Leads, and Real-Time Adjustments
Using feedback and lead volume to refine your price even after listing.
[14:59] Key Takeaways: Conservative Underwriting and Regulation Awareness
Garret shares golden rules for stress-testing deals and planning for rent control.
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About Garret Wong
Garret Wong is the founder of the My First Keys podcast, the Rent It Yourself Community and a seasoned property manager with nearly 30 years of experience. Originally a research scientist specializing in molecular biology, Garret transitioned into property investment, where he has grown a personal portfolio of 43 buildings and 75 doors into a property management company that has managed over 1 billion in assets, with a 98.5% success rate in legal proceedings and a 98.6% rent collection ratio.
Known for his practical approach and strategic insights, Garret has developed an extensive SOP library to manage everything from tenant selection to maintenance, helping landlords and property managers build a reliable, resilient system.
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Contact:
For feedback or questions, reach us at https://garretwong.com/contact/
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