All Forum Posts by: Amy Still

Welcome Amy! Curious what your plan is post hack...jump into another one? If so, I'd love to help point you in the right direction but regardless would love to connect!

What kind of guest are you targeting with your 1/1 MTR? I love MTRs, but a basement unit can be tricky, especially if someone is living upstairs. Here are the challenges I've seen (and experienced) with basement units. It's very difficult to soundproof basement units. If your floor in the upstairs unit isn't well soundproofed and the ceiling of the basement unit isn't well insulated, guests will likely hear every noise above. This can be particularly problematic for an STR as guests tend to complain about everything and it can really hurt your ratings. So I recommend you spend some time in the downstairs to see what the guest experience is going to be like before you determine how you're going to use it. A noisy basement unit is also going to be a problem if you're targeting traveling healthcare workers who often work nights and sleep days. The caveat to that is if you're not in the upstairs unit during the day due to your own work schedule, in which case sound traveling to the downtairs unit might not be an issue at all. Also make sure that your electric breakers, washer/dryer and HVAC controls are accessible by BOTH the top and bottom units. I once stayed in a basement unit that required I text the tenant in the upstairs unit to have them adjust the HVAC controls. You can imagine how well that worked out. I've also seen electrical panelsin the downstairs unit, which is common placement, but can become really problematic when the upstairs unit needs to access it or vice versa. Just some things to look out for and plan for.

Welcome @Amy Still to the BP forums and the grand world of REI. Sounds like you have a pretty cool plan so definitely work toward executing that. Love to see more KY investors since we have a great state for it. If you ever have any questions don't hesitate to ask since I am one of the best KY resources on here.

Amy, 

I'm in the Cleveland market and I'm looking to house hack in the near future as well! 

Looking to buy a 2-4 unit property and do a house hack for long term wealth building rather than immediate cash flow. Almost any house hack seems better than throwing away money towards rent every single month. 

It's great to hear that you're still interested in real estate even after being in the consideration stage for several years. I can tell you're serious about what you want to accomplish and I wish you all the best in doing so. 

-Ben