All Forum Posts by: Jayden Espinosa

Hey Everyone. I have a 4 bed/2 bath in a small college town. I rent it out to 4 young men. Over the past few months, I have been struggling with one of them. He has been late on rent 2 times now, (will be 3 if he doesn't pay within the next 8 hours) and his roommates have complained about him numerous times.

They have said that he has been smoking in the house, had guests over that are smoking in/around the property, have felt unsafe around him, and have found things go missing whenever he friends are at the house. He is on a month to month lease. I looked into the law and it looks like I only have to give him a 15 days notice before kicking him out.

I went and did a property inspection last night and found no evidence of the smoking. However, I just want to make sure I handle this correctly. An eviction notice can only be by text, correct? Also, do I have to give him a reason at all to get him out of my property? Or can I just say, "I am not renewing your lease." and go forward with that.

Would love to hear everybody's feedback. Please let me know if any additional information is needed. Thank you.

Hello Everyone,

I have a few international students interested in renting out one of my properties. It's in a college town and they are coming to the area for school. My biggest concern is following through without a credit/background check. One of my mentors told me to meet them in person to get a feel for them and their personalities. Basically interview them and then make a decision.

This would be my first time renting to someone without doing a credit/background check, as you can imagine, it worries me a bit. Any other precautions I should take before renting to them? What would you guys do in this scenario?

As always, thanks a ton. I appreciate the help.

Jayden

"Work to learn, not to earn" - Robert Kiyosaki.

Hey Mitchell!

There is a monthly meetup on the first Wednesday of every month. NUREIA hosts this event. I have copied and pasted the below from the website. I would love to see you there!

The Ogden meeting is held on the 1st Wednesday of every month at the Refined Brokerage at 620 24th St Ogden, UT 84401, from 6:30-8:00 pm Mountain Time.

Hope this helps. If you have any questions, please let me know. Thanks!

Good evening folks!

I am currently attempting to move into my second househack. However, I have run into an issue. I am locked into a first time homebuyers loan and I either have to refinance or pay it off to get rid of it. One of the requirements of this loan is that I have to be living in the property. I have talked to several different lenders and they have all told me the same thing, that I cannot keep the loan and simply move out and get another owner occupied loan. It is state specific to Utah and is a Utah Housing loan. I got it at a 2.75% interest rate and lenders are currently telling me rates are around 6% now. The current payment is $1925 and the new payment would be approximately $2440. I will be bringing in about $2200 a month once I move out.

I would have been cashflowing $275 but now I will be losing $240 per month if I decide to refinance. However, I know getting more properties will pay off in the long run. I am not worried about paying $240 a month to keep this property. I am just curious to hear what experienced househackers have done in situations like this if they have ever encountered them. Should I refinance and buy another property? I have about $30k saved up for a down payment. Or should I sell the property so that I can avoid negative cash flow?

ANYTHING HELPS.

Thank you so much!

Jayden

Hello everyone! I recently attended a luncheon where the guest speaker talked about squeezing the most out of every deal. After his seminar, I began thinking about how I can do this with my current house hack.

I am currently in a rent by the room strategy in a 3 bed, 2.5 bath townhome right next to a local university. None of us use the garage which has space to fit about 1.5 vehicle(s). I want to rent this space out and am curious if anybody has experience renting out a garage? Is this legal (UT)? What precautions should I take? What’s the best way to market the garage space?

Any advice would help. Thank you!

I am a full time college student and I am planning on graduating next April with a degree in accounting. I am extremely interesting in learning about real estate investing, specifically multi unit properties, house hacking, and eventually would like to transition into commercial real estate.

I am looking for a good part time job that I could learn all about what I mentioned above. I have heard that an Assistant Property Manager might be good, but I want to confirm on what would be best for my goals.

Thanks in advance!