All Forum Posts by: Jeff White

@Taylor Jacobs If you area looking in the 2-4 unit multi-families, they are only mostly valued on a sales comp approach by the appraiser, so cap rates don't mean anything when they determine value.  All you need to do is get some comps of recently sold multis within a 2-5 mile radius, and you can accurately predict value.    

Also, you can't split out up/down duplexes here in Denver, maybe in the other counties, but not Denver. You can split side-by-side ones though. 

@Steven Tawresey I didn't know Zillow was charging for rental listings now.  I just rented one of my rooms in Denver, not in a premium location such as Capitol Hill, but in my opinion, the best sources for rental leads by demand are 

1) Facebook marketplace - with good pictures, you will get overwhelmed with interest and you can hit up certain groups such as Denver Housing and Sub-Letting Group and the general Facebook Marketplace.  Capitol Hill might even have a housing group.  

2) Zillow - still not bad, but not as good as Facebook Marketplace

3) Craiglist - I haven't gotten a good lead off of here in years, and also there are lots of scammers out there.  

Also, I think it is timing as well, not as many people move in October in Denver, so you won't get as many leads as you did a month ago. 

@Travis Hatch Thanks, it worked out great up there!  You will do great with your first one and learn so much. 

Technically, to call it a conforming bedroom, you need an egress window in there. For the rest of the basement you don't need one.  

@Travis Hatch Great job man! Sounds like a really good deal, especially in Denver. I personally have done rent by the room house hacking, and it has the best ROI easily and really not that challenging if you choose good roommates.

Also, add a egress window in the basement if you plan to rent it or live down there. They go for about $3-4k in Denver for one, and they will give you piece of mind if a fire happens and they can exit safely. 

@Mindy Jensen @Brandon Turner

Great first episode with Brandon, I like how BP is expanding out of its comfort zone by providing more niche type podcasts that really deep-dive investor's perspectives and lessons learned. Also, Ken has the perfect podcast voice!

@Kanika Bailey  The majority of the buyers for multifamily in Denver are fellow investors, so that's your target market. To answer you question, it really depends on the location, current condition of property, when are you going to list it (probably wait till Spring to get more buyers interested), etc. If it is in a great location, then fixing it up would be worthwhile. If in an ok location, than maybe look at the other multifamiles that have sold and see their improvements or lack thereof.  

Also, If it is a side-by-side duplex, I would look into renovating each side and selling each side separately, you will probably get a higher ROI doing that than selling the total duplex. It really isn't that hard or expensive of process to separate it out. If it is a up/down duplex, I'm fairly certain you won't have that option, then I would just upgrade it and sell the whole thing.

@Daniel Haberkost Hi Daniel, I'm currently doing this with my last house hack that was a house with mother-in-law (I'm renting the mother-in-law part by the room and renting out the top part to a family).

So far, it hasn't been any more work than before. The key is to set expectations for each roommate-tenant after you leave because you are dealing with roommates and need to have any rules for any disputes since you aren't there anymore. 

One of the reasons why I furnish the common areas and kitchen is to avoid them putting anything in the living room and kitchen. Also, it is good to have someone come and clean the place once a month or so since most tenants aren't going to clean. 

@Craig CurelopGreat episode today man!  You are a rockstar!  I'm still patiently waiting for my copy in the mail;)

If house hacking works for everyone including people with families, why do you think there is still so much resistance against it?  

It seems married people and people with children have the biggest objections based on my interactions of talking to my friends that fit those descriptions. They just can't get past living next to tenants, even when the numbers make sense.   

@Chris Lopez Thanks Chris, I was just about to reach out to Joe!

@Chris Mason Great, thanks for the quick response!