All Forum Posts by: Ahmed Seck

@Tom Hacku I like that perspective. Initially my target niche involved young professionals and college students like myself but this of course narrows my prospective tenant pool. Also I have not yet listened to the BP podcast episode 352. I will certainly give it a listen. 

But definitely agree with you that which strategy I choose does not matter much as long as I get started. I agree both have there pros and cons. I think part of my mind is stuck in analysis paralysis mode which is  keeping me from definitively choosing a strategy and just learning from experience. Thanks for the advice!

@John Lyszczyk that’s a great point. I had not taken that into consideration especially since my target niche involves college students and young professionals in my area. I also agree with you that looking at duplexes, triplexes and fourplexes would be a great way to get a taste of landlording while saving money. I am great with people and would love to learn how to manage a property myself before fully delegating the role to a property manager in the future. Thank you for sharing your experience with me I will definitely consider the rent-by-room strategy down the road especially considering the current state of the world. 

@Wayne Brown thank you for your insight! I also had my share of difficulty in finding a great 2-4 unit Multifamily property in the Arlington VA market. Can I ask you why you chose to Airbnb the third room in your home as oppose to completely renting it out like your other two rooms? Is it because the area has a high vacancy rate?

@Account Closed  I couldn’t agree with you more. The rent-by-the room strategy is certainly great strategy especially if one’s aim is to scale their portfolio quickly. I will absolutely take into consideration your advice for being steadfast about having strict house rules in order to ensure that my tenants are mindful about treating the property with care. This of course can be prevented on my part by making sure that I screen my tenants properly from the get go. Thanks for the advice!

Hello BP family! My name is Ahmed Seck and I am an aspiring 20 year old entrepreneur in Maryland. After reading a plethora of  books and listening to countless BP podcasts, I am ready to take ACTION! My goal is to acquire my first House Hack before September 10, 2020. I am currently at a crossroads in deciding whether to pursue a traditional house hack (duplex, triplex, fourplex) or the Rent-by-the-room strategy (Single Family Residence). I would love to hear the opinions and insights from investors in the D.C., Maryland, and Virginia (DMV) areas as to which house hacking strategy they have had the most successes with in the DMV as well as any tips and warnings for new investors starting out. I’d appreciate any advice I can get. Thank you in advance!