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Updated 11 months ago on . Most recent reply

User Stats

5
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3
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Joab Cardona
3
Votes |
5
Posts

First House Hack Now What?

Joab Cardona
Posted

Recently bought a house 3 weeks ago it is a 4 bedroom 2 bath house I live in one room and have rented out the other 3 rooms. I am just wondering what should I be doing next as far as taxes, savings, investing, and reading. Taxes wise I have opened up a high yield savings account and putting money into it in case I do end up owing taxes next year, but what do I need to be saving as far as forms, I don't have the tenants on a lease yet since this is my primary on the mortgage, but I am giving them receipts when they pay rent every month and keeping those saved. This is my break down on the expenses, if there's anywhere I could improve or something I'm doing wrong not just in the breakdown put also forums wise please give me all the constructive criticism to get better in REI!

Bought @214,900

Down: $4,400

Down assistance: 10k Georgia Dream 

Mortgage: $5,550

Rent per room: $600 water/electric included

Wifi/Garbage separate: $35 each already split between tenants

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