House Hacking - Renting By Room

[Leonard Sanford Jr]

Great Morning All!

Very happy to share that yesterday I secured my first property under contract. The property is a 3 bedroom 1 bath single family ranch. I am planning on renting out the other 2 private rooms, and based on the numbers I've run using the BP calculators it will cash flow nicely while I am living there and when I move out. With that being said, I am interested in hearing tips for success using this method from others who have done it successfully. For example, would it be better to market to friends or venture into marketing to "strangers"? I truly cannot understate how integral this site has been to my early success! Thank you all very much in advance for the feedback.

A side note, I can honestly say that Craig Curelop's book The House Hacking Strategy is a gem! Would wholeheartedly recommend that to anyone using to utilize this strategy. 

[Parker Massengill]

I rented my other 2 rooms to friends after getting my first house. It was great, felt kind of like being in college and living with friends again, except everyone was much more mature and respectful of each other's space and privacy. I personally would not like having strangers in my other rooms, if it was a duplex then sure, but not in my space.