Newbie in Roseville, CA (Rent By The Room Strategy?)

[Chelsea Luciani]

Hey BP family! 

My name is Chelsea and I live in the Sacramento CA area. I have a BA in business, I am a licensed real estate agent and I'm currently working as a mortgage consultant assistant (while I wait for my NMLS license to be approved). 

Given my obvious love for learning & my ultimate vision of achieve financial freedom, I'm OBSESSED with all things related personal development, business, and Real Estate. I spend the majority of my time consuming as many books, podcast, and YT videos I can get my hands on. 

After carefully considering all the different investing strategies, I've come to the conclusion that it'd best to pursue the rent-by-the-room strategy (since Sacramento area is only getting hotter).

I've been analyzing single family homes with 5+ bedrooms, 3+ bathrooms in A/B class neighborhoods lately and I've found a great deal that falls within my criteria (200+ cash flow & 12%+ COC Return). Excuse newbie question, but what are some other metrics that I should consider when using this strategy?

I'm also open to any feedback on this strategy or if anyone has any experience with this strategy in the Sacramento area, please message me, I'd love to connect! 

Lastly, I just want to say how truly grateful I am too have found such a wonderful community of real estate professionals. I can speak on behalf of everyone just starting on their REI journey, the amount of value & insight you all give is greatly appreciated. Thank you so much!

[Chelsea Luciani]

Originally posted by @Mark Pedroza:

@Chelsea Luciani

I used to reside in Roseville on Ash St just opposite the train station. I've always enjoyed old town Roseville and the immediate area as well.

For further related connections @Sergey Tkachev has a monthly meet-up in which the next one is in March, and you'll get more information on house hacking as there are other local Sacramento area investors in the group as well..

Warm regards and good luck..

Yes, I enjoy living in Roseville too. I live right off of Blue Oaks Blvd & Crocker Ranch Rd. My main concern is that Roseville (from my experience) attracts more individuals that are more established in their careers and have started their families. The rent by the room strategy will be geared toward young working professionals that are just starting out in their career with no interest in starting a family just yet..  Any thoughts? 

Should I focus more on Sacramento area because of this? 

Thank you so much, Mark! I truly appreciate it!