All Forum Posts by: Brandon P.

Hello Michael, I am from Minnesota, but now live in Florida. What part of WI are you in? Are you a realtor, investor, tell me more about yourself. I just sent you a private message. 

I made a mistake once and had a post removed, reach out to @Michael S., maybe he can help you. 

Home run out of the gate! Nice job Jake!

https://www.allpropertymanagem...

Hey Blake, no hate towards PadSplit at all, as I have never used it. I was just sharing information with what I have personally done that has worked well for me. As I have not used PadSplit, I cannot honestly say anything good or bad about it. In my above comment, I was simply sharing my experience vs. my friend's situation using airbnb. Thank you for not misunderstanding my previous comment. 

Yes, build the costs into the rent. I hate to say it this way, but young people today just like to see one number that they have to pa, and if they have a rent payment, a water bill, and electric....they freak out...

Quote from @Adelola Sokoya:

Hello everyone, 

New investor here, I like the idea of house hacking and am in the process of getting my first property to house hack.

However my fear has always been how to get folks to fill up the extra rooms especially trying to carry out background check on them. 

Then I stumbled on padsplit. Padsplit promise to take all the load of filling up the extra rooms and background checks and so many other intresting stuffs they mention on their website.

I just love to know if anyone has used or is using padsplit for house hacking and what their experience has been so far?

Thank you

For my first house hack, which I have been doing for 1 year now, I used turbo tenant for managing the background checks and room payments. I used roomies.com for finding and interviewing potential roommates, in person, before deciding the best fit. I do a month to month lease, allowing flexibility for both my wife and I, as well as the tenant. We have had the same tenants since the beginning, and this is solely because of our due diligence in choosing the right tenants and laying out the rules before anyone moved in, as well as getting signed documents. The more work you put in on the first few deals will create your own well oiled system to replicate down the road when you expand, if you choose to do so.

On the contrary, I have had a friend who keeps renting his room out on Airbnb and keeps getting subpar tenants that he is not pleased with. These software and apps promise a lot, but do not do the due diligence that only you can provide for a good experience.

Best,

Brandon 

@Joshua Janus @Remington Lyman

Quote from @Lucy Yusuf:

Hello everyone, My name is Lucy, I have been watching bigger pockets for 4 years now and I'm ready to invest! It's a bit scary but I'm not scared to bank on my risks... I recently got pre-approved for a home, but I've been thinking whether to house hack or flip, I need help! Thanks.

Hello Lucy,

Get started, that's the most important thing, and it sounds like you have decided that you will. What is your life situation right now? That will help with answering your question. If you have kids and a family, house hacking is a tough go. My wife and I house hack now, but as we move to building a family we will be moving out of the SFR that we house hack.

Best,

Brandon

Quote from @Colby Zeller:

Bp Community, I plan on buying my first property after I graduate school in Dec 2023. Recently Ive been debating the best way to fund my deal, and I've recently discovered a little method called sub-to. Its seller Financing on what ever your own terms are to little or no down depending on how you negotiate the deal. If anyone with any advice on the topic or experience would clarify for me that would be great ! Also any input to what method works the best for people starting out would also be very helpful thank you !!!

Check out Cody and Christian on YouTube, they talk about this strategy and utilize it all of the time.