All Forum Posts by: Daniel McDonald

@Christopher MacDonald I am in the MA area myself, north shore. Been house hacking here since 2020. It was the best decision I've made. Happy to connect. 

Hey @Trevor Newton, I've been house hacking since 2020 north of Boston, in Beverly. Def my favorite strategy to get started in this market. 

I love this plan and am always on board with house hacking. I think it's the "safest" type of real estate investing you can do, especially if your sister is living there and you can trust her to be a good tenant/co-owner. 

The 20% will depend on your strategy. I personally like to find something that needs "a little" love so I can force appreciation. That could mean 20% is no longer realistic. If you can get something turnkey and put the 20% down that will save a lot of headaches but just realize the house likely is going to appreciate at a lower pace. 

Hi @Luckson Dambo you're in the right place and making a great decision. House hacking is an awesome way to get your foot in the door without to much capital or a ton of risk. I've been house hacking since 2020 in Beverly, Ma, and currently in my second duplex. I don't regret it for a second. Happy to connect and share whatever resources I can to help you get the ball rolling this year! 

I’m just north of Boston. House hacked my way into two duplexes. I wouldn’t post your rent for higher and expect someone to try to haggle. That hasn’t happened to me. They are probably not the right tenants for you anyway. Those are the ones who are going to bug you about every little thing. Don’t do it to yourself. I do however keep my a little below market value so I get a bigger tenant pool. Although if you’re renting out right now in Boston winter will seem a little slower. 

Depending on what softwares you use they can usually pay for the background check themselves. I like 3x gross rent scenario, no past evictions, and a credit score of 600+ 

 Feel free to shoot me a DM

Hey @Daniel Marshall I'm a 2x house hacker and Agent in Beverly, MA. Is a traditional loan out of the question for you? Trust me I totallllyyy feel your pain. I bought my first duplex in 2020 and second in 2022. Thought I was way overpaying then and would never make it back, but if you're planning on living in it for awhile I'm always for the house-hacking option. Happy to connect. 

I manage in FL and TN and am charging 25% for STRs and 18% for MTRs. I'm also in a pretty extensive Mastermind for STR PM companies and those rates are pretty standard. My cautionary tale for shopping lower and you need 100% clarity on what's covered and extra fees. With the 25% I charge I'm not expecting you to lift a finger, just collect a check.

I like Salem. By no means cheap but solid rent + demand, fun place to live, decent inventory (relatively speaking), and is still commutable to the city. 

Getting your agent to pull a list from the MLS would be the most accurate way. However, if all else fails I have found rentcast.io to be fairly accurate. It's free too which is nice.