All Forum Posts by: Adam Hoak

@Marian Smith that’s true. She wouldn’t be moving often and appears to be a quiet tenant. Might be less hassle to keep her at the rate then.

@Nathan G. I think that’s what I really needed to hear is just to rip it off now and not drag it out. Thanks for your feedback.

@Pat L. That’s a really good idea to compare it and add a living feature to help offset the rent increase.

@Sue K. That makes sense. I think that would help smooth things over if I raised the rent and give her an upgraded appliance. Thanks!

@Mary Mitchell I would improve her current unit if rents were increased. Thanks!

I have a duplex that I would like to buy. It currently has a vacant side and a rented side. The rented side is for $575 and below market average which is $750. She is elderly (mid 70s) and has lived there for 13 years with no rent raises. If her rent was $675 I could make the numbers work much better for a house hack. It would cover the mortgage and insurance 100% but nothing more. How should I raise her rent? Also, it feels immoral to raise rents with the COVID-19 situation at hand. Any thoughts, please?

BP community,

I am starting my first job in the coming month upon graduation from college. I would like to get started in real estate investing so I would like to do a house hack starting out. However, I will only be in the Dallas office location for a year or so and then move to a new location.

Should I consider house hacking knowing I’ll move in a year? Or what recommendations do you make for getting started?

P.s. if there’s any Dallas people reading this. I will join the Dallas Real Estate Association to get more involved when I move to Dallas.

Thanks!