All Forum Posts by: Antoine Baisy

I am also curious about this area. It seems to be the up-and-coming area. Anyone heard anything about people converting warehouses into large living quarters?

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@Patrick N. I didn't know about the professional photos thing. That's pretty sweet in itself.

@Matt Jones Yeah I know there is always a debate over whether or not to rent to family and friends. I've been roommates with friends for around 4 years and there haven't been any issues with paying the bills. Do you feel like when you're actually the landlord the relationship changed at all?

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Originally posted by @Patrick N.:

One way to ease into it is to rent out your extra room(s) for a few months at a time through AirBnB. I'm doing that now with my two rooms, and have not had any issues because I only rent to people that have stayed with other hosts and have been reviewed. AirBnB collects rent for you and insures your home. The whole process is pretty seamless.

That's a cool idea. Can I ask what part of town you're located in? Also do you think that matters with a city like Houston? I've been focusing on properties inside the beltway

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Originally posted by @JD Martin:

Originally posted by @Antoine Baisy:

Originally posted by @JD Martin:

My opinion: always avoid having anyone live in the same physical space as you whenever possible. I would do a small duplex before I would rent out rooms in my place to anyone. Either way, you want to have as close to an iron-clad lease as possible.

JD, is there a reason you would avoid being in the same quarters? I live with roommates now so the terrain isn't necessarily foreign for me.

Yes. Being a landlord is kind of like being a boss, or being a bank. What happens if you have to "discipline" or "fire" the employee (the tenant)? You are creating a business relationship and should treat it as such. A roommate is more of an equal footing scenario than a lender/borrower relationship. If you don't make your car loan payment, the bank asks you nice once or twice and then comes and takes your car. If you don't show up to work on time the boss asks you nice once or twice and then fires you. If your tenant doesn't make the rent payment on time, or smokes in the room, or acts a hoarder, you ask nice once or twice and nothing happens. Now what? You are stuck living in the same quarters as someone who is now (hopefully) being evicted or sued in court.

Solid point. In the event of an eviction, I would then be living with a possibly unruly tenant. This would put personal belongings at risk as well as turning my own living quarters into an undesirable place to be.

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Originally posted by @JD Martin:

JD, is there a reason you would avoid being in the same quarters? I live with roommates now so the terrain isn't necessarily foreign for me.

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Hello BP, I am currently in the process of buying my first residence in Houston, TX (and ever). In order to make the most out of this purchase, I would like for it to provide some sort of cash flow. You know what that means, House Hacking. I have a pretty narrow price range right now, <125k, so I'm thinking either a really small multi-family or just be a live-in landlord and go the roommate route. Also, I'm not very handy at the moment, so I've been trying to avoid any houses that need some sort of major rehab.

I'd like to get some opinions on the less obvious pros and cons of each method. For example, if I were to go the live-in landlord route, how does that affect things like Lease Agreements. Are there any legal gotchas I need to know about?

Thanks in advance for any help or advice!

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I thought his lease expired. Isn't it open season now?

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All Forum Posts by: Antoine Baisy

Antoine Baisy has started 4 posts and replied 25 times.

Post: Newbie from Houston

Post: New member from Houston looking to learn

Post: New Member from Houston

Post: Investing in Houston's EADO area

Post: First HouseHacking Questions

Post: First HouseHacking Questions

Post: First HouseHacking Questions

Post: First HouseHacking Questions

Post: First HouseHacking Questions

Post: Eviction for lease volation