All Forum Posts by: Kyle Davidson

@Tyler Sample

I definitely recommend getting a contract signed by your tenants, this way you have an official agreement written up and signed by both parties. A rental agreement also holds your tenants liable to pay rent every month and for any damages while they are living there. I highly recommend writing or finding a great contract and reviewing it over with a lawyer to make sure everything is in line.

For screening tenants I recommend using Cozy.co. The site runs a credit history and background check on your potential tenants. You just have to create an account and send the link to your tenants for them to enter the information and pay the fee for the credit history and background check to be performed. You can also utilize Cozy.co to collect rent.

@Bryan Berrios

Personally, I think house hacking is a great way to get started. I am currently house hacking a single family home and living for free. Looking to buy my next house hack in the upcoming months. I have nothing but good things to say about house hacking, it has helped me get my foot in the door of real estate investing while learning invaluable lessons along the way. If you haven’t check out Craig Curelop’s book The House Hacking Strategy, I definitely recommend it. Good luck on starting your path to financial freedom!

Hey Nate,

I am also a relatively new into the real estate game. Personally I think house hacking is a perfect way to get your feet wet. With house hacking you don’t need the conventional 20% down and can typically put 3.5%-5% down. There are multiple different strategies you can go with in house hacking as well, you can go the single family route and rent by the room or the multi family route and have your own place. Personally I highly recommend The House Hacking Strategy by Craig Curelop.

I am currently house hacking my first property. I have 3 other roommates and am living rent free as my roommates are covering my mortgage with there rent. Come March/April I plan to buy another house hack, hopefully a duplex or triplex, and house hack again while turning my current property into a full time rental. Honestly I dove headfirst into house hacking and have learned a lot with the first property. I have made some costly mistakes because I didn’t have the right team around me. But I hope to learn from these mistakes when buying my next property.

@Lu Kang I recently just bought a house in Montgomery county that I am planning to use as a house hack. I am looking to do some minor renovations to this property including turning a half bath into a full bath. Do you happen to know any good contractors in the area?

I live around the Philadelphia area, yes property taxes may be high in the city but if you are investing in the right areas and finding good deals your properties will definitely cash flow. Philly has some hot rental/short term rental areas, that you can take advantage of.