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Finding that “diamond in the rough” just got a lot easier…
One PBRG researcher told me about the real estate investment tool YieldSpy. It loads Multiple Listing Service (MLS) data for available residential properties.
Then, it cross-lists the data against the expected rental rates for the locations and types of properties.
The result is a quick, automatic list of the highest (potential) rental yields in a given market. You’ll also see which areas have greater rental real estate investment opportunities, and which ones have less.
Now, the data is often imperfect… so don’t take all the yields it pulls up as “concrete.” But, this tool provides a great starting point for your rental investment search.
Below are YieldSpy search results for the Raleigh, North Carolina, area. The tool pulled 25 properties matching the desired search criteria. The highest yield was 33.77%. More moderate yields are still in the midteens.
If you’re in the market for a rental property, give YieldSpy a try. Then, please be sure to share your results—and any tips and tricks you discover—with the Palm Beach community, right here.
