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Updated almost 7 years ago,

User Stats

29
Posts
10
Votes
Rodney Reeves
  • Wholesaler
  • Tampa, FL
10
Votes |
29
Posts

First-time homebuyer/house hacker: what should I look out for?

Rodney Reeves
  • Wholesaler
  • Tampa, FL
Posted

Hi BP,

First, I'd like to thank everyone involved in running this amazing site, that's been a huge source of knowledge as I embark on my Real Estate investing journey. It's been an interesting journey so far but I am excited to take that leap and enter into this world!

I am in the process of buying my first home (4br 3bth SFH), as the title states, and plan to house hack by renting out 2 of the rooms. My closing date is set for April 30th and I am in the process of searching for roommates. I read Brandon Turner's articles on Renting your House and Tenant Screening: Ultimate Guide (excellent resources), and feel more confident in going ahead and marketing the rooms for rent.

Since I am not quite the owner of the property, what are some things I should look out for as far as screening tenants go? For example, since I am not going to be occupying the home until after April 30th, how should I go about showing the home to prospective tenants and are there any specific laws to limit what I am able to have them agree to before becoming the official owner?

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