All Forum Posts by: Josh Abrams

Hi, first wanted to say thank you to everyone in the BP community who has helped me on my real estate inventing journey thus far. I just closed on my first home this past weekend, and I will be house hacking my two extra rooms.

I wanted to reach out and see if anyone in Tennessee has a lease that they use specifically for house hacking. I have the BP lease forms from purchasing the property management book, and I think I could use the lease plus the addendum form to add in a roommate agreement. But I wanted to see if anyone has a lease/roommate agreement drafted out that they've had success with in the past.

Thanks in advance!

Josh

Thank you all for your input and advice! I'll definitely put out an ad that tells a lot about the property and the area around it as well as including a lot about me and my roommate and what we're like/what we're looking for in a roommate. I also like the idea of using a Google doc as a way of pre screening.

I agree that having two roommates that I get along with that don't get along with each other is a recipe for disaster, so I will sit down with my current roommate and discuss what we feel is the right fit for a new roommate before posting an ad.

I am currently a member of a few Facebook groups in Nashville, so those will be the first places I post to. There is a lot of activity daily, so I suspect I'll get a few hits if I post there. I had not heard of Furnished Finder, but I'm not against renting to that demographic, so I will look into that as well.

Again, thank you all, and if I have any more questions I will reach back out.

Hi! I wanted to reach out for some advice on finding a roommate for a house hack. First a little background - I recently purchased my first property in Nashville (3 bed 2.5 bath) and will be moving in in December as it is a new build. I will be house hacking the property as well. I currently rent an apartment with my friend who I played college football with, and he will be renting a room from me in the new place. I am 24 years old, he's 22, and we both have full time jobs (actuary and teacher).

My biggest questions are where should I post my ad, and what should I include (and not include) in it? Should it mainly concentrate on the specifics of the property - rent price, utilities included, W/D in unit, new build, proximity to downtown, restaurants etc? Or since I will be living in it and not just looking for a traditional tenant, should I also be marketing myself and my roommate? I will be giving my roommate some say in who I take in as the extra roommate as he will also be living there. I was thinking maybe a short paragraph or two about what we do, our hobbies, what we are looking for in a roommate, etc. Or should the ad be kept more professional/formal and ask those interested to reach out for a short phone call where they can explain what they are looking for, why they are interested in the property, etc., and we can get to know each other and see if it would be a good fit?

I would love to learn some dos and don'ts from personal experience if possible. Being that this house hack is my first of many rental properties, I want to start off on the right foot.

Thanks in advance!

Josh

Hi, I'm currently looking to purchase my first property and house hack in the middle Tennessee area (Smyrna/Murfreesboro) but am running into some problems. I'm open to SFH and multifamily, but in the middle Tennessee market for multifamily, it is tough to find anything even remotely close to a deal. Most of the deals I am analyzing are single family homes - 3bed 2+baths.

Like I said I'm looking to live in one and have roommates who pay rent to cover some or all of the mortgage. The problem I'm running into is that although when living in the property, I'd be able to pay less for my mortgage than I am currently paying for my rent in Mt. Juliet (assuming all other rooms are rented out), I am having trouble finding properties that will cash flow when I move out in a year or two. My goal is to house hack a property every few years, but if a property won't cash flow after I move out, it wouldn't make sense to do so, right?

I'm wondering if anyone is seeing the same thing in the middle Tennessee market, and if so, does anyone have any advice? I don't want to rush into purchasing a property if it won't make sense down the road, but I am also tired of renting and would rather put my money into my own property and build up equity.

Any help would be greatly appreciated. Thanks!

@Dalton Uphoff thanks Dalton! I’ll definitely check that out.

Hi everyone!

I’m pretty much brand new to real estate investing. I’ve read a few bigger pockets books and regularly listen to the podcasts, but now I’m looking to take some action.

I’ve been renting just outside of Nashville for the past year and a half and am looking to buy my first place and house hack when my current lease is up.

I’d love to talk to any investors or agents who know the market and area well and can help me formulate my game plan, talk specifics, and hit the ground running.

I appreciate any and all help. Thanks!

@Devan Mcclish

Hey Devan,

When and where is this event?