All Forum Posts by: Kyle Tipton

@JJ P.

Great info! Sorry about your floors. Ouch!

And that makes a lot of sense. Majority of the tenants will still be teenagers and very reliant on someone else to fix their problems. I will definitely keep that in mind moving forward.

@Charlie Shew

I agree. That’s actually what put me on to the idea.

@Ola Dantis

I was definitely wanting to go with the parent Co-sign route. Have you had any issues with parents not wanting to pay when their child does something or missing rent?

@Mo Petersen

This is great. I could totally see HI being a great location for this strategy.

I’d never think tenants would stay for 5 years!! That’s awesome.

Thank you for sharing!

@Spencer Cornelia man, that's solid advice. I appreciate that. I like the idea of only have a kitchen common area and not really a livingroom. Changes the dynamics of the house completely but by doing so, you can create larger rooms and potentially personal bathrooms, which in return could create more cash flow. 

wow, eight ppl at once! that is a min hotel. lol do you have a policy against having guest or if one of your tenants consistently had their gf/bf over? This is another fear of mine, especially like @Nicole Marshall mentioned above, if oyur local laws have a limited number of non-related occupants able to be living under the same roof. I could see this being taken advantage of.

@Spencer Cornelia I'm glad to hear you agree with the door locks. I also thought it was a no brainer.

So what do you do with the livingroom area? did you convert it to a bedroom or what use do you get out of the space?

That's crazy about the streaming? i figured everyone would enjoy a service like that. I just assumed i would need to set up a "hang out" area. So do they just have TVs in their room and hang out there mainly?

I think the ease of Maintenance and working with younger people get on their own is key to this approach. You'll definitely run into more unique situations.  i can see why you're doing so well. 

@Kenny Dahill

That's exactly what i thinking. If i go this route, a key component is going to be the lease and making sure its solid. Thanks, for the input. 

@Nicole Marshall

yeah that makes total sense about buying basic household items, especially the consumable ones. I could see that being an issue, especially in shared bathrooms. the same person always buying the soap and stuff. lol its the small things in life, right. So with that, I assume you provide beds in the bedrooms, do you always offer linen and items like that?

that's what i'm seeing too in the market. Houses are over priced on average. I've been looking at nothing but major fixers, i figure that's the only place to make it work and since I want it to be walking distance to school, it narrows my search down. 

glad to hear the co-ed piece isnt an issue. that was a concern of mine originally. 

good call on the non-related occupants. I read that too and was only planning to go with four bedrooms. I want a five bedroom because i was thinking a larger living room would desired, but after talking on here, it seems it wont be. 

@Michael Noto that's an excellent point. Thank you for bringing that up. It's on my to-do list once I decide to move forward in this area.  

@Scott Rogers. thanks for the info. I do see that the immediate surrounding area seem to be like this. I'm definitely looking and researching in depth to be sure its a safe/solid play. The houses where I'm looking are very similar to what you're looking at (5/2 2000) but cost closer to 200k. The rent however would be closer to 600 per room. At least what I have gathered through research. Best of luck to you too.