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Updated about 1 year ago on . Most recent reply

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Benjamin O Dew
  • Columbus Ohio
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Looking for best house hacking strategies

Benjamin O Dew
  • Columbus Ohio
Posted

First-time poster here on the BiggerPockets forum. Seeking advice from fellow investors regarding house hacking in Columbus. Just closed on a 3 bedroom, 3- bathroom SFH in Grove City for investment purposes. I'm employed with the Columbus Clippers and intend to utilize part of our housing stipend towards building equity in a property. Once the baseball season concludes in October, my wife and I plan to transition the house into a full-time rental property.

Initially, I aimed to leverage platforms like Airbnb during away series, but encountered restrictions due to the HOAs regulations, prohibiting rentals for less than 30 days. Despite our reluctance towards communities with HOAs, we found the property we genuinely liked and decided to take a chance. 

Now, our focus shifts towards house hacking, with the intention of renting out at least one of the rooms. However, I am uncertain about the best approach. How can I effectively rent out rooms for mid-term durations or even secure a 6 month lease? Additionally, I am unsure about the market rent for a room-by-room basis in Grove city. 


Appreciate any insights or guidance from the community on navigating this situation. 

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

I don't like rent by the room to strangers if you are going to be traveling a lot for away games. If you could find others inside of the Clippers to rent rooms, that would be ideal so you have some connectivity there. Since you are in an HOA, you would still want to check the rules on that as well although that would be harder to tell while you are still there.

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