All Forum Posts by: Michele Granata

Give me your best advice in choosing home insurance for a new househacking property?  The must haves, what to avoid, and which companies you've had best experiences with when needing to utilize the insurance. Thanks!

I'm considering renting out a 2 bedroom/ 1 bath unit as rent by the room. However I don't have any experience with RBTR and would appreciate some insight from a local investor who does. 

Hoping to discuss things like the major differences in the terms of lease for this style renting, how to manage common spaces, how best to avoid tenant conflict, etc. 

Then I can make a more educated decision. 

Please reach out if you could spare some time to shed light. Thank you!

Tell me about a time when you decided to invest in a property that required foundation repair!

Encourage me or discourage me but please share. 

Did the repair work out and help you score a great property? How did you negotiate the expense for repairs? Anything creative?

Did the property end up being a big disaster and burn your wallet?

If you're from the Northeast, even better.

I will be closing on my first investment property in the next coming weeks. It is a 2-family and we will be househacking. We are inheriting the tenants of the 2nd unit. 

We also will be leaving our SFH to do this househack, and will be renting that out as well.

I've done moderate reading and educating myself , but im really looking to speak to an experienced investor to help guide me. I feel like I could really use a half hour or so of their time to ask questions and learn what I should be doing or prepping for in this stage. Questions about things like where is best to hold a tenants security deposit, how best to setup accounts to manage these 2 seperate rentals away from my personal accounts, advice on insurance policy for new property. etc. 

I do not have a mentor at this time. 

How would you suggest is the best way for me to find these answers and learn?

TY

First investment property --Our offer has been accepted today for a 2-family home for a househack. We will be inheriting a tenant from one of the units. 

Now that Attorney review will be starting, is this the typical point in the process to request all of the tenant info, such as lease, proof of timely payments, etc?

Also, any advice on the specifics of everything/anything I should be requesting?

Thank you!

My agent was actually talking to me about this, switching over to FHA after getting offer accepted and getting things moving. I wasn't sure how legitimate this was, but clearly Ira super popular where you are!

 I appreciate the honest experience! Hearing from the seller's perspective is of most importance to me right now.  

 No problem! I will simply take your advice twice as seriously lol :)