Highly Priced Room-Hacking, make any sense?

[Santo Stefano]

Hi dears,

I'm thinking to start room-hacking in 2021, and I'd love to hear your comments on my first project.

Where: a small metropolitan area (think about Memphis but in Europe)

- Population: 1 million, overall stable in the last 10 years: (decreasing 0.3% YoY)

- Population average age: old! 45 years old in the area (Memphis age: 34)

- Economy: not bad, sure one of the best 10 in the country, with a disproportionate amount of private medium employers (50-150 employees) active in many sectors.

Rooms: 5 rooms (included mine)

- each one with a private bathroom, AC

- weekly housecleaning

- the average monthly rate in the city is 380/month but they are intended mostly for students.

- I hope to rent the rooms with bathrooms at 550/month. But 550/month is also the rent of a medium-low one-bedroom apartment.

Unit: in a condo (!!!)

- 2100 sqft - 200 mq

- Independent housing seems too expensive for my smaller pockets now.

- Very close (less than a mile) to one of the dozen University branches in the city center

- Build in the 70s

My why:

I'm 44. Single and serene for 10 years, I won't settle anytime soon or ever.

I like: novelty, few well-enforced rules, freedom. I like background noises and background talks, I like focusing on people: in short bursts of my complete attention. I'm not good at listening to long conversations. I'm rarely at home, I'm mostly at work, or doing sport and a ton of social activities. Using my money in a house where I'm not spending much time would feel empty. I looked for renting a room like the one I described above that in the area, but there are not, so I decided to "create" them. I love systems. I love fixing things for the long run. I feel I am good at creating and managing serene groups. I'm very quiet and respectful, I communicate clearly.

My why: I want to interact with people purposefully. I want to use my money for something meaningful.

I look further to reading your comments

Best Regards

Santo Stefano