All Forum Posts by: Account Closed

Can you go someplace like HotPad (they are owned by Zillow) to see what rooms are going for? I think you can do that same type search on Zillow looking for a room to rent.

I will check HotPad out, thank you. I have looked around on craigslist, Facebook marketplace, roomies etc but I haven't tried this one yet. I believe my best bet might be to call a local realtor or property manager as they would know the market better than I can make assumptions online.

0 Votes

Jacksonville, Florida

Quote from @J J Moody:

If you're struggling to find a starting point for calculating rent by the room in a single family home, try starting with the finding the average cost of rent per square foot. Then use that number to get the per room price, factor in additional costs for utilities, etc. to find the total rent you would charge per bedroom.

Finding a small multi-family is great advice! Though depending on the area they can be harder to come by.

Good luck!

Interesting idea, thank you. I had not thought of this. I would purchase a multi family property if I found one that made sense, but I haven't found a solid deal on any so far in the area.

0 Votes

Jacksonville, Florida

Quote from @Joseph Beilke:

@Account Closed

Good Morning Dilan, I'm in Palm Coast and have sold some homes in the and around Jax. I'm also a Firefighter in the area, and what I hear other firefighter charge to the younger guys in the departments are anywhere from $500 to $800 a month and that include all services and utilities.

But have you thought about a duplex? Why rent a room and have someone in your space, when you could own the whole property and rent one-side out?. The benefits of this is privacy, and higher income. Typically you could charge close to enough in rent to cover 75% or more of your entire mortgage, they pay for all there own utilities and services. You could basically live for free and save money to do it again.

Thank you for your insights, Joseph. Ideally I would purchase a duplex, but I cannot seem to find any reasonable deals that would cash flow for multi family properties in the area. I do not know if that is because it is a tough area to find cash flow, or if it is because I am new to the game haha.

0 Votes

Jacksonville, Florida

Hi everyone,

I am moving to Jacksonville next month as I got my first job out of college there working at Deutsche Bank. I am hoping to purchase my first property in Jacksonville as a house hack but am struggling to find solid estimates on what I could charge roommates for rent by the room of a single family home. Are there any Jax investors out there that have a solid grasp on what rooms would go for in the Baymeadows/Mandarin/Deercreek areas? I am very excited to start my real estate investing journey and look forward to meeting some like-minded investors in Jacksonville.

1 Vote

Jacksonville, Florida

All Forum Posts by: Account Closed

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