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All Forum Posts by: Katie Phillips

Katie Phillips has started 5 posts and replied 67 times.

Post: Financial Advisor Recommendation - Greater Sacramento Area

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Rich Conley Julie Hassna is both a great person and amazing financial advisor out of Sacramento.

Post: Investment opinion for Sacramento area

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Shen Huang It will be difficult to find a duplex in Sacramento, Folsom, or Roseville for 400K that will be able to produce cash flow. In my opinion, you should look in Arden, Rancho Cordova, Citrus Heights, and Carmichael. These areas tend to be more inexpensive, but are close enough to freeways/downtown Sac to make them desirable areas to rent. I would love to talk to you more about what you are looking for. Feel free to reach out anytime! Best of luck :) 

Post: Advice for first time house hacking

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46
Originally posted by @Craig Titus:
Originally posted by @Katie Phillips:


@Craig Titus  I am in California, but I am happy to set up a call to talk about it more if you would like. I have been house hacking for 2 years and most of my clients are also house hackers as well or are working their way towards it. 

 Hi Katie, I would love to set up a time to call. Please let me know the best way I can contact you and some times you are free. Greatly appreciated!!

I'll message you!

Post: Advice for first time house hacking

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46


@Craig Titus  I am in California, but I am happy to set up a call to talk about it more if you would like. I have been house hacking for 2 years and most of my clients are also house hackers as well or are working their way towards it. 

Post: Renting a room in my house

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Adrian Ballou 

It sounds like you have put  a lot of though into this, so I think you are going to be just fine! It sounds like you already own the home, and monthly expenses are $2300, plus repairs. Is that correct? Keep in mind, you have to live somewhere and a portion of your monthly payment goes towards principle, which is kind of a savings account for yourself, assuming your home will appreciate over time. My point is that you don't need to cover all of your expenses with rental income to make house hacking a good financial decision for you. Some markets don't allow for you to charge enough in rent to cover the whole mortgage. 

To find roommates and look at market prices, I suggest Roomster, Roomies, Padmapper, Craigslist, and local FB groups. I would also look at the prices of studio apartments in your area and then subtract a few hundred dollars a month in rent as a starting point for your research. I don't think people care about living with their landlord, so I wouldn't worry too much about that. 

To charge the most in rent consider allowing overnight guests, extra storage, easy parking, short leases, lower security deposits, and keep your home spotless. 

Sharing your home with tenants vs.roommates is basically the same thing. If you can do that, you can do this. They are going to do things that bug you, but just remember, a tenant who pays on time and is not rude/messy is a great tenant. 

Lastly, when you write your lease (or download it from Google), add an addendum with house rules. You can add a rule about fragrances, so you are all on the same page prior to them moving in. My biggest piece of advice is to be as upfront as possible about your expectations. This will prevent issues once they move in, or they can decide your house is not the right place for them. 

Best of luck! Please feel free to reach out with any more questions :) 

Post: New to House Hacking - Do work myself or Hire out???

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Faith Kirk What kind of work are you referring to? Property management can easily be done yourself because you are already living in the house, and it will save you a good chunk of money. Home renovation projects should be hired out if you are not a DIY person :) 

Post: Triplex deal analysis

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46


@Chad Collin Are you willing to be the PM? If you're new, that might be the best way to learn, plus you'll see much better returns.

Post: Newbie and house hacking

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Nicholas Parker Get yourself an agent who can work with the listing agent and seller to answer your questions and figure out the best plan for everyone. Current rental information is usually included in the MLS, which your agent will have access to. As James said, typically there are ways you can cancel existing leases if you are planning to move in, but it will depend on the specific situation. Let me know if you are looking for an agent, and I can send you a couple names in your area.

Post: Folsom Out of Bounds meetup 4/22/21

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Jeremy Blevins I'm sad I missed it, but I'd love to attend the next one! 

Post: Marketing exchange students

Katie PhillipsPosted
  • Real Estate Agent
  • Sacramento, CA
  • Posts 69
  • Votes 46

@Robert E Sabo I haven't heard of this, but it sounds like a great idea! I would check with the school on their exchange student rates/programs. I would also educate yourself on where most exchange students are coming from, then I would market to what they are looking for. If you can provide information/resources the school is not offering, I think you will find a lot of success!