All Forum Posts by: Mike Cichy

Hello,

I am looking to buy a house in my subdivision and wonder if I can make it an airBnB?

The HOA rule states, that lots are for residential use only? Does someone have any experience with that?

Thank you for your feedback in advance.

@Michael Baum

Thanks Michael, that is a need chart. I only read the regulations before. This is way more compact and organized. I will have a walk out basement unit with approximately 600sqf. I will operating inside the regulations.

@Chris Baber

Thank you Chris. That sound good! I will follow the rabbit hole. ;-)

@Larry Turowski 

I totally agree with Larry. Since you are an investor you want the best return for your downpayment with the lesser risk.

So ROI is the way to look at it without making it complicated.

On top of that if one of the units in a multi is not renting out for a turnover you still have cash flow from the other units. In a single you have 0 cash flow during turnovers. That is what I like about multi-unit properties. 

@Ken Latchers

House hacking revers to using your own house to create income and transfer it into the asset category to reduce your own cost of living. It's a similar concept like buying a duplex and renting one side out and living in the other half. Do you have any productive feedback for this topic???

Air BnB in Asheville: You have to live on the property to have been able to run a STR.

I am outside of the city limits and don't have to apply to that rule. 

@John Underwood @Michael Baum @Luke Carl @Jeff Purl Thank you for your feedback.

Hello, I am new on BiggerPockets and excited to get your feedback.

I finishing my basement to one bath, one bed, and a living room with kitchenette, that leads into a deck and shares my mountain view.

I am sure I can get around $100/night at my location close to Asheville.

Enough rambling around here is my question:

Is there a way I can lease the space into an LLC and rent it out of my LLC?

I want to create legal protection for my home and not have to claim the income as primary income.

What are your thoughts? 

Hello,

I am new here and looking for some advice. I am working on our house hack project. The idea is to use the unfinished half basement to create a space that is usable for an Air BnB. We have a nice mountain view that would be the feature that would stand while still only 15min away from downtown.

The plan is to use a loan out of my 401k to finance the remodeling. Good time since the stock market is trending in the wrong direction. 

I have sketches for the layout. I did contact some people I had recommendations but no one was really that promising or even replied.

Please let me know if you have someone to recommend for:

-Framing, -Plumbing, -Electric, -Tiling, -Drywall

Thank you in advance.

Mike Cichy