Do and Don't for House Hack

[My Nguyen]

Hello everyone,

I'm new to this. Can you please share your experiences of what to do and what not to don't with house hack? Things that you learned from being a landlord.

Thank you so much!

[Marcus Auerbach]

Most importantly: don't overthink it, this is not rocket science and you will figure it out, no problem! 

We work with a lot of duplex buyers in Milwaukee and we have a mini-crash course for our clients to provide the few bits of information you need to get optimal results. I have been managing our rentals for 15 years. 

I'll try to keep this generic:

1.) Your tenant will be as nice as your unit (so put some effort into it!) 

2.) Spend $120 on professional real estate photography - totally worth it

3.) Advertise on Zillow

4.) Run background checks on a platform like Smartmove (by Transunion)

5.) Don't use a homegrown lease (includes homegrown by an attorney) - we have a local service here in Wisconsin, provides all the forms

6.) Train your tenants well - like employees, you make the rules and then educate/train them. Know what you won't tolerate.

7.) Read a couple books on landlording, like Brandon Turner or Mike Butler.

8.) Trust your instinct, rent to someone who is on the same "wavelength" and has a similar rhythm of life