All Forum Posts by: Jared Sliwinski

Thanks guys, those were my thoughts as well. A lot of the podcasts I’ve listened to said just to verify how many non related tenants can occupy the property since different municipalities are different, some 3,4,5 etc. so that’s why I initially reached out, but was surprised to have zoning tell me it’s not allowed in a few cases. Has me stumped and wondering what to do next, especially because I can’t find it in writing showing me it’s not allowed. 

I’m looking to buy my first rental property and would love to buy a single family home and rent it out by the room. Just looking for advice on how to find the legality of it in my nearby cities. I’ve tried to look up municipal codes online in regards to rent by the room and limits on unrelated people living in the same home and have had no luck. I reached out to local zoning departments and one told me it would have to be re classified as a boarding home and or a multi family dwelling. Another told me their city does not allow rent by the room. Any advice is appreciated!

I'm looking to purchase a single family home to rent as an off campus housing. The neighborhood is not the greatest and I'd like to use the BRRRR method adding a bedroom or 2. My question is, if I am renting by the room and I have at least 5 bedrooms, can I finance and value the property as if it was a commercial property that was 5 units or more? TIA

I am looking to purchase my first rental property. I’d really like to start with a small apartment complex, less than 40 units. The issue I’m facing is that the properties I am interested in are vacant. Can you please advise me as to how the lending process will work as well as how the property will be valued since there would be no current cash flow. TIA