All Forum Posts by: Delwyn A.

Every area has their own regulations, so I would definitely check. However, I don't see an issue with you living in the basement apartment yourself and renting out the top portion. If you have a livable basement and you're renting out the part of the home that you're "allowed" to rent out, I'm not sure there would be any issue. 

Hi! Congrats on getting started investing, especially at an early age. You should be proud of yourself. To get started, having funds is also the most important aspect. To learn how to negotiate a deal and to get your feet wet, I would recommend you being a bird dog. Essentially what you would do is find deals that you would then assign over to other wholesalers. This will not only help you get some cash, but teach you how to spot a good deal and how to negotiate with sellers. 

I don't necessarily look at cities as much as I do regions, and I feel like the south east as a whole is a great market regardless of city. Do you own research before going into any area, but the south east is typically less expensive and is seeing the most growth. 

Personally, I only pay in installments based no the work completed. Typically, when contractors are paid in-full or paid the majority of the money upfront, their attitudes become a little less reliable. Not really sure what can be done at this point besides reporting them to the BBB, but (unfortunately) this may have to just be a learning experience moving forward. 

There's no clear-cut answer to this. It depends on where you're located and what is allowed. But, remember, whatever you're charging one tenant, make sure to be consistent with the rest. 

Hi,

I'm originally from Macon, GA (about 20 minutes north of WR). Despite Macon being the relatively "bigger" town and the focus of the Middle Georgia area, WR seems to offer a better quality of life according to a lot of the residents. With the Air Force base there, low crime rate, abundance of land, WR seems like the better option if you're considering the Middle Georgia area. 

I'd recommend joining your local REIA to meet some general contractors. Usually, when people know of good contractors, they more than likely won't recommend them out because they want to keep them to themselves. So, it would be best to find and vet GC's on your own--and REIAs are typically the best route to find some.

I haven't personally done this, but it sounds promising. My only question is if you're able to get the work permitted and to figure out what's required to convert your property into a multifamily home. If everything checks out, this seems like a solid plan to house hack your home.

The difficulties with house hacking can range from finding a roommate if you're renting out a room in your single family home to finding a multi-family property in an area where that property type is scarce. Overall, the benefits greatly outweigh the negatives when house hacking though. 

There's really no clear-cut answer to this, as there are pros and cons to this scenario. Some would see new builds as a sign of growth (appreciation) in the area. Some would see the new builds as competition. It really just depends on what the properties are ultimately going to be used for once completed.