All Forum Posts by: Brandon P.

@Sway Tseng

I use travelers for my house hacks.  You need to clarify with your insurance broker or carrier that you are looking for "home share" coverage or whatever the carrier would like to call it as it seems they all call it something different.  This is specifically for house hacking.  From my understanding of my own policy, this coverage kicks in if anything happened to your property or your tenant involving your tenant.  Without it, I am not sure your liability or dwelling coverage would kick in if a claim involving your tenant transpired.

This is not the same as a landlord policy as a landlord is only valid once you move out and NOT living there.  This policy has additional coverage such as loss of use which can cover loss of rent, putting your tenant up if the property is uninhabitable, etc.

Let me know if you have any other questions!

Best,

Kenny

Hey everyone!

This is mainly for those who have recently built or got contractor/builder quotes for building an ADU. I am curious as to what your are finding the current building costs are?

I am working on putting together a building system to be around $150/sf hard costs for a build. The idea is to systemize the process and be able to offer a good quality product for a lower price than is generally available, and still make a decent profit. And we would start with building ADU's, since that seems readily systemizable and a popular trend with good demand.

So, does $150/sf sound attractive to you if you were in the market to build an ADU? between 800sf-1,200sf

I am mostly looking for California opinions, but all are welcome. TIA

I am also posting this under other categories, so I apologize for the redundancy.

Just started looking in the Cleveland area for properties in the $75k range.  Cash offers.  Looking to cashflow and wanting to pick anyone's brain about experiences in the area.  Or Akron and Canton.  Trying to get a feel for rentability, location, etc.  Would love to look to get a team together in the local area.  I'm an out of state guy down in FL and the market is just ridiculous here so trying to maximize $$$ for cashflow.  Appreciate any help! 

@Aiden Luce

First off, congratulations on getting started while in College!  My only regret is that I didn't start investing in real estate earlier in life!  Good on you.

I think the best way to get started is to figure out a good investor friendly realtor in your area that is DOING what you want to do.  Finding these on BP is a great spot to start.

Local meetups are also a great way to meet other people who are house hacking in the area, and you can learn so much by going to these.  I couldn't recommend them enough.

Also, if you haven't read any books on house hacking or investing through Bigger Pockets, I'd recommend those as well.  There are plenty of options with house hacking, and I'm sure you'll find your niche on what best fits you.

Best of luck on your RE journey!

-Kenny

I am a current college student and I need direction on what type of real estate would be best for house hacking along with finding local realtors/lenders that will know the renting market.