I am the one that stated I made $4,000 a month. It is not every month but it is a close estimate. Again I also said if it works for you then go for it. I live in the city so I can make a good amount renting in my area. I am new to sales and it's been hard for me but I am working on it. However, rentals have helped sustain my income until my sales come in. I wasn't making a general statement about the money you can accumulate everyone's farm area is different. I was just sharing my experience.

In my market I have found that for the most part, working with renters is a huge waste of time. Prospective renters get very flaky, and usually in addition to working with an agent, they'll also be looking on craigslist and other free or paid services that have homes not listed on the MLS. So you do just as much upfront work as in sales, but with less odds of closing anything, and for a tiny commission that barely covers your gas.

However - having said that, I will work with higher end leases on a case by case basis (either tenants or listings), if I see something to gain from it outside of the lease itself. For example it's a great way to meet new people who can potentially refer you, and people who lease do end up buying or selling (I have a deal in escrow right now that came from someone who I originally found a lease for last year). But I am very picky about these and I will fire the client very quickly if they seem wishy-washy or flaky, or I don't see any gain from getting to know them as people or spending time with them. It's just not worth the aggravation....

Then ask for more. If that is the only thing stopping you, call the agent tell him someone was interested in viewing the property but you work for X commission, will you increase to make up the difference. If the answer is no, you wasted 2 mins. If yes then you've made it worth your wild.

Is NY a good place to get into rentals?

New York City? You can't find a place with more rentals.

[quote=Anyelina]I have heard for few people that know Realtors that are making good money on rentals.[/quote]

Working with renters can lead to bigger commissions also. I got a call one day, it was a couple looking to rent a home and move from a home which they owned. Long story short, I sold there house for 900K made and got a big commission. So yes, go for it. Maybe you won't get the big one, but the smaller ones will add up too!
Best of luck,
George