All Forum Posts by: Aanu Jibodu

Is there a way to comprise with your wife?One strategy I've heard of is purchasing a SF with an ADU or in-law suite, or perhaps a basement with a private entry, and renting that out. That might allow more privacy and maybe she would be more on board with that?

Also, congrats on the successful HH! I’m currently getting ready to do my first.

@Collin Hays@Nathan Fisher@Sergey A. Petrov@John Underwood

@John UnderwoodThank you all for the insight! Some of the things I'm taking away are to...

* be upfront and kind to neighbors. Ask for their input in advance and feedback as I go. Open lines of communication is key.
* scrutinize HOA disclosures and CC&As, as well as local codes to make sure I'm not in violation of anything.
* make sure I have systems to get consistently good guests.

Thanks for the tip about many HOAs not allowing room rentals - I did not know that. Question: Do you *have* to be under contract to get access to the HOA disclosures? I've been trying to get access to the financials and special assessment records for a couple of condos I'm interested in, but haven't had luck finding them. Ideally, I'd like to know the size of the HOA reserves, history of special assessments, and to get a sense of their financials when deciding if I even place an offer but it seems that's proprietary information and that this info may only come when under contract?

I'm looking at DaIIas and surrounding suburbs. It's been a little tricky bc it seems STR codes vary a bit city to city.

Thank you - I'll try to cover my bases by running numbers with other exist strategies such as MTR, and then go for it!

I'm planning on house hacking and considering short term renting out rooms. However, I'm nervous doing this bc I know some people dislike the idea of living near a STR. I don't anticipate noise / disturbance issues, but I know some are just against the idea of a "constant stream of strangers" in their community.

Because of this, in choosing a property to house hack, I've been looking at places like corner lots, semi secluded lots, and condos/townhomes with backyard entry (as opposed to having guests come in through the front door) bc I figure these sort of set ups will mitigate neighbors having to SEE STR guests as much. But bc I've been putting so much thought into this, I'm wondering if this is even helpful for me to be considering. For context, my plan is to convert the place into a MTR for traveling professionals when I move out so it would only be a STR for about a year.

Some questions:

* Are my fears of unhappy neighbors warranted? Has this even been people’s experience? I’m more sensitive to this being an issue since I’d be house hacking, and will likely be interacting with neighbors on a daily basis.
   

* Any tips for choosing a STR property layout that is "neighbor friendly?" Or anything you've done to make sure you maintain happy neighbors at your STR, apart from screening for good guests?

* Do you find that condo/townhome or SF neighbors are more receptive to STRs (assuming you’re not violating any CC&Rs)?

TIA! I feel like I’m overthinking this, but I would love insight from those who have experience.

Congrats on the hard work and wishing you future success! Could you share about the house hack details? Are you renting by the room? Airbnb-ing them? I’m planning on house hacking with a similar set up.

Could you expand on this part?

Can't the income from individual room leases count when considering DTI? What would make this more difficult than having having all roommates sign one lease? Is it a 'more paperwork' thing? I'm in a similar situation to the OP and in the same market, but I'm almost exclusively looking at SF and planning on renting by the room. I want to make sure I'm covering my bases if there are implications down the road.

Hey BP community!

Question: I’m moving from the Northeast to the DFW area by the end of the year, and I’m excited to start my investing portfolio with house hacking (purchasing a SF and renting out to roommates). My goal was to purchase a house while I’m still living in the NE with the help of an agent and maybe a few visits down to the area. My parents, who I still currently live with, recommend that instead I rent an apartment for a few months to a year in DFW to get to know the area better and search for a “dream” house before buying. (Their concern is my purchasing my first home out of state.) I do want to rush into house hacking because I’ve gotten so excited about it and bc I’d like to save some money, but I’m wondering if it really could make sense to rent  in the area for some months to better get local context before purchasing. Is there value in doing so? My ultimate goal is to live in the SF for a couple years before converting it into a full rental. I’d appreciate any general advice as to how I should think about this.