Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Brett Denner

Brett Denner has started 1 posts and replied 6 times.

Got both rooms filled! 

Renting a bit lower than I would like but still coming out at about breakeven when looking at my costs. Considering 3 months ago I was paying $1k in rent for less space, I'd say this is a big win. 

Thanks, everyone who has posted on this thread. The advice definitely helped. 

Originally posted by @Mindy Jensen:

What neighborhood are you in? some neighborhoods command great rents, others can be hit or miss. 

Steve is right, now is probably the worst time to be trying to rent out, give it a few weeks though and things should pick up. 

 Hey Mindy! Pleasantly surprised to see you post on here. The podcast with you and Scott is a huge reason as to why I started looking into house hacking in the 1st place. 

As for the neighborhood, I'm in Longmont - near the southern rec center. Got a bus stop right next to me; 5-minute drive to downtown and easy access to highways for Denver/Boulder.

Not an amazing spot, but not too bad either.

Update: 

As per some of suggestions here I've lowered the rental price to something that may be more in line with a shared home and updated the listing to allow for month 2 month rentals. 

Most of the photos are professional quality but I've since updated the furniture (much nicer now) and repainted several rooms, so getting rooms re-shot and edited by the end of the week.

Had a couple of people reach out today so that's a good sign.

Originally posted by @Steve K.:
Originally posted by @Brett Denner:

Hey All,

Thanks for stopping by. As per the title, I'm attempting my first house hack but been struggling to find tenants since late November. After much work on my end to create a good listing (as per this guide on BP), manage it on 4 sites and finagle with the pricing I'm not really sure where to go from here and I'm really surprised that so few people are even reaching out in the first place.

Here's some details:

  • Been trying to rent out since late November (so about a month and a half so far).
  • During that time I've had just a handful of people reach out and 4 showings. Nobody went through an application.
  • 2 Rooms for rent in a single-family home in Longmont, 3bd 2ba 
  • Listed rent is competitive for the area, Longmont CO, when comparing to other listings ($725)

If you want to see the actual listing and share any feedback let me know and I'll pm you. Any advice or guidance for a newbie is much appreciated!

$725/room in a shared space/housemate situation seems a little high for most of Longmont IMO. All of my units are rented for $550-650/rm. This is also a really tough time of year to find tenants. BIG difference between now and in a few months. I'd almost wait until April if I were you, or get someone in there at a lower rate on a M2M and raise rent in a few months. I've struggled to fill units this time of year and then had 20+ applicants for the same unit (listed at a higher price even) in April/May/June.   

 Hi Steve,

Thanks for the response, if anything it's good to know that what I'm facing isn't too out of the ordinary. If is another week or so I'm still not seeing anything I'll lower the rent price towards that range and see if it helps.

Hi Abiel,

You mentioned commission, but I'm not trying to sell the property, just rent it out. I've never heard of a realtor helping to simply rent a unit out but I could be wrong since I'm fairly green.

If the latter is what you are talking about then I'll certainly give it a try.

Hey All,

Thanks for stopping by. As per the title, I'm attempting my first house hack but been struggling to find tenants since late November. After much work on my end to create a good listing (as per this guide on BP), manage it on 4 sites and finagle with the pricing I'm not really sure where to go from here and I'm really surprised that so few people are even reaching out in the first place.

Here's some details:

  • Been trying to rent out since late November (so about a month and a half so far).
  • During that time I've had just a handful of people reach out and 4 showings. Nobody went through an application. 
  • Listed rent is competitive for the area, Longmont CO, when comparing to other listings

Any advice or guidance for a newbie is much appreciated!