All Forum Posts by: Josiah Jenison

@Sujith Bhaskaran - I have not invested yet with HomeRoom so I can't specifically speak to their renovation process but with my general experience in real estate, adding a bedroom almost always increases your property value, not decreases it.

@David Park - thanks for sharing. It's good to hear a positive first hand experience. 

Some good points on here. While it's true that you could do what HomeRoom does yourself, it would take a lot of time, effort and a moderate level of market by market expertise, especially if you're an out of state investor like me. I live in California so buying investment property here is pretty much out of the question right now. I have researched HomeRoom and talked with the founder Johnny a lot. The reason I am planning to invest with HomeRoom is the upside / value for the OOS investor like me. From what I can tell, they have the same/similar returns as turnkey, with a higher tenant class in better neighborhoods and almost no stresses of management. They can pay you market rents because of the co-living (renting room by room) approach. This yields upwards of 70% more than market. Of course, it may not make sense for all investors, but for an OOS investor like me who's looking for truly passive investments (or close to it) it seems like a win-win. Just my 2 cents. I'll be happy to share more from my actual experience once I get my first property with them.

Sorry. I thought I attached a link previously. The company is called HomeRoom. They have a pretty good informational video that explains the process here: https://livehomeroom.com/coliving-investing

Hey Corey,

I went through the same dilemma. I live in California so I need to invest OOS for obvious reasons. I too work a full time job and did tons of research about BRRRRing in other states. I researched markets and talked to wholesalers. I analyzed tons of properties and got close on a couple. Eventually I decided that I wasn't comfortable with the risk of BRRRRing on my first OOS property so I am planning to go turnkey (sort of). There's a great company I really like in the Kansas City and Dallas markets that will help you find and buy great properties then master lease them back from you. They are using a rent by the room model so they pay you market rent then they rent the rooms out individually. There are no property management fees and no headaches for you as the owner because they handle all the dealings with the tenants. Also they sign 3 year leases. It's a pretty great system. Something to consider if you decide to go the turnkey route. Good luck!

I am in the same boat Ibrahim. Are you looking for local properties or have you considered OOS? If you're interested in OOS, there's a great company I really like in the Kansas City and Dallas markets called HomeRoom that will help you find and buy great properties then master lease them back from you. They are using a rent by the room model so they pay you market rent then they rent the rooms out individually. There are no property management fees and no headaches for you as the owner because they handle all the dealings with the tenants. Also they sign 3 year leases. It's a pretty great system. Sure, you won't get as high of returns as flipping or BRRRR but way less stress for you as the owner. Plus they are in good appreciating markets. Might be worth checking out.

https://livehomeroom.com/coliving-investing

No problem Nick. Best of luck to you.

Hey Nick,

There's a great company I really like in the Kansas City and Dallas markets that will help you find and buy great properties then master lease them back from you. They are using a rent by the room model so they pay you market rent then they rent the rooms out individually. There are no property management fees and no headaches for you as the owner because they handle all the dealings with the tenants. Also they sign 3 year leases. It's a pretty great system. Might work well for you. Good luck!

https://livehomeroom.com/coliving-investing

Thanks Richard! I was bummed to miss the last one. Looking forward to Sept 10!

I'm bummed but I won't be able to make it tonight. Have fun. I'll catch you guys on the next one. Thanks.

Awesome! Looking forward to it!