All Forum Posts by: Gustavo Mendoza

Thanks a lot for this! It was very helpful.

Thank you! That was very helpful! 

Thanks guys! This is great help. So on that point, when should I consider reporting it on taxes? I'm guessing the way to do it would be by opening up an llc, and going through there. I don't have much, it's just my owner occupied 3bd 2bth SFH renting out two rooms generating a total income of 1400/mo. Doesn't even cover the full mortgage.

It's a SFH. I live in the property. So it's a conventional owner occupied loan with 20% down. But now that you mention it, "do I really need to report it for taxes"? I mean I'm just a single guy with a 3bd 2bth SFH looking to save money by sharing the house with roommates.

Hi there fellow Househackers,

I've been getting contacted by mortgage lenders left and right offering me to refinance down to a lower rate with them. When it comes to qualifying for a loan like verifying your income, credit score, debt to in come ratio etc, will it help to say that I receive additional income from my househack tenants aside from my w2? Thanks in advance. I appreciate all your support.

Yeah. It's furnished right now. Do you guys list the rooms for the same price whether it's month to month or a year lease?

Hi everybody. I have a 3bd 2bh househack in Merced, CA. I went through Zillow to list the property and do all the screening. A prospect asked me if i was doing a month to month, or lease. What are the pros and cons of going through a year lease vs month to month? What do you guys consider to be a better option? Thanks in advance for your cooperation? 

Sorry. I thought I replied a while back. I'm not very good at using the forums here. Anyway, thanks for your question. My SFH househack is in Merced, CA. A City that grew from 78k people to 90k people in about 10 years. My househack appears to be in a C neighborhood, but my street seems to be a B. The houses in the streets around me were built in the 70's, but the ones on my street were built in 2006. It's a different look. Most of my neighbors are homeowners. My house is close to the freeway, gas stations, coffee shops, fast food, and downtown. And within a fifteen minute drive to UC Merced, the Hospital, and the Community College. 

Yeah, so it's in Merced, CA. A city in the San joaquin Valley of Northern CA. The City went from about 79k people in 2010 to about 87k in 2020, passing 90k in 2023. My SFH is right off the freeway in south east Merced. The top employers are the UC Merced, the County, and the school districts. My neighborhood looks like it could be a C neighborhood, but my street looks like a B. No joke. I live on the nicest street in my neighborhood. I live within walking distance to coffee shops, gas stations, and fast food restaurants. I also have diners, bars and downtown within a 2 mile radius. University of California Merced is about 7.5 miles away which equates to about a 15 minute drive. The local community College, Mall, and commercial shopping centers are within a five mile radius. Thanks for your help! I appreciate it.

Thanks man I appreciate that. I'm glad to know you're from CA aswell. I think we're invested in one of the toughest states in our country. I currently live in my 3bd 2bh SFH where I plan on renting out the other rooms. I thought about renting out my master bedroom fully furnished (bed, bed sheets, nightstands, and curtain). And I'm also considering doing the same with the other rooms. The competition around me is 1bd apartment units and other SFH that bigger or nicer than mine. That's why I think I need/should furnish my rooms to compete with the others around me. What do you think about this? Any thoughts or suggestions would greatly be appreciated. Have a good day!