All Forum Posts by: Dennis Nguyen

Congrats on the househack! I would look into these guys https://www.submetersolutions.com/

If that doesn't work, just split the usage based off square footage and charge the tenants in proportion to that - not 100%  accurate but good enough. I do that for my properties and my investors do the same for their properties (We're in Seattle as well). 

Congrats on your job! Since you're 21 my advice is to live wherever you want to and not worry too much about the numbers. Househacking is a strategy that can work in any state if you buy the right property. I live in Seattle where prices are expensive but we've managed to make it work and I know people that househack successfully in San Francisco. It's very rare for someone to have a choice to decide which city they want to work in so take advantage of that. If you decide to pick Seattle let me know any questions you may have, happy to help!

We love househacking! Like others have mentioned, you're thinking about it the right way and you're on the right path. We live in Washington as well and started our investing journey by househacking. It's a great way to get your foot in the door with a low barrier of entry (3.5% - 5% down). Let me know if you have any questions, I've helped a few people find their first househack in Tacoma last year using the rent by the room strategy and right now they are getting paid to live in their own house which is awesome. 

Hey Julie! I'm a house hacker myself in Seattle and think anywhere close to the lightrail would be good if you don't want to drive. If you want lower price points, you can look in Seatac, Burien, or Tukwila! I have properties in those areas and some of my tenants just take the public transportation to get to work. Happy to help if you have additional questions, feel free to DM. 

 I have done both long-term and mid-term for rent by the room. 

Hey Keng, sorry to hear about the bad tenants. My advice would be to seek out an eviction attorney FIRST instead of hiring a PM. Looks like you're in Seattle so I can provide references for attorneys if you need, feel free to DM me. 

Welcome @Dorian Broadus! You're in the right place, BP was how I got started in my real estate journey as well. I bought my first property at 24 by househacking and it's a strategy I still use today and something I advise my clients to do as well if it makes sense for them. Our team hosts a local meetup called househack seattle every month, come swing by if you're ever in the area. Feel free to DM me if you have any more questions, I'm a local realtor and happy to help :)

That's my strategy right now and what I advise clients to do as well especially when starting out. Using low down-payment options to buy your next property and keeping your current one as a rental is how many people get started in real estate investing and what the househacking strategy is all about!

I would look at AirDNA for revenue projections to see if it makes sense and you're at least making money after taking into account the other factors people mentioned above. Include utilities into your expenses since you're on the hook for that. 

Double check the HOA for no restrictions!

HELOC rates today are pretty high. Recommend using only if its for short-term. I've used first tech in the past.