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All Forum Posts by: Mitchell Powers

Mitchell Powers has started 3 posts and replied 9 times.

Post: Best Methods for House Hacking Condos

Mitchell PowersPosted
  • Posts 10
  • Votes 3

@Kyle Spearin That's a great idea I actually haven't thought of yet - thanks for the suggestion. I appreciate the connection as well - I'll give him a shout! 

Post: Best Methods for House Hacking Condos

Mitchell PowersPosted
  • Posts 10
  • Votes 3

@James Carlson All good points - I'll definitely be doing all I can to create an air tight lease to insure I'm not stuck with any crazy costs or lawsuits. Thanks! 

Post: Best Methods for House Hacking Condos

Mitchell PowersPosted
  • Posts 10
  • Votes 3

@Ryan Riches I've definitely been considering the AirBnb route - I've heard good things! I'll probably start out with 6 month leases for tenants and if I don't love that situation then I'll try out AirBnb - thanks for the advice!

Post: Best Methods for House Hacking Condos

Mitchell PowersPosted
  • Posts 10
  • Votes 3

@Joel Heck All good points. Would love to take a look at the lease you used for reference! 

Post: Best Methods for House Hacking Condos

Mitchell PowersPosted
  • Posts 10
  • Votes 3

@Matt M. - I was actually thinking of doing 6 month leases just in case a bad tenant got thru my screening process. Great idea. 

When you say "asked to drive to their place then and there" do you mean drive to the landlord's current place to see how they live? Meaning house hacking would be similar to how they live anyway? 

Post: Best Methods for House Hacking Condos

Mitchell PowersPosted
  • Posts 10
  • Votes 3

Hey everyone, I'm thinking about buying a 3 br 2 bath condo in Downtown Denver to house hack, so I would be living with 2 other tenants. I was curious to hear other investors' experiences and suggestions with this situation. How did you deal with messy tenants? Did you implement a guest policy? Did you divide the fridge into sections for each tenant? 

Would love to hear what worked and what didn't.

Thanks in advance! 

Hey Grace, I would love to house hack and currently looking for deals around Denver. I'm looking to build a portfolio of rentals (8-15 doors) and eventually 1031 exchange them into a larger apartment building (20-40 doors). Would love to connect and learn more about your story! 

Hey guys, I would love to hear from anyone who has found their niche in ANY city/area in the US. I am a single, young (26), and determined individual looking for the most ideal place to begin my REI journey. I live in Denver, CO now and I understand this is a great market to invest in but I'm curious to hear anyone and everyone that has found success in their own niche market. I have a strong attraction to rental properties because I am focused on longterm passive income, but starting out I am all ears to any strategy that works well in any area and can be convinced to begin elsewhere. Would love to hear from anyone who is willing to share their success story. Thanks in advance!

Being a new 1099 employee myself (Investment Real Estate Agent), I find it difficult to truly map out a plan for investing given the uncertainty of my income. Of course, if done correctly I can make a significant amount of money through being an agent, but is the comfort of knowing your income and being able to accurately plan your "REI timeline" more important? I would love to hear the opinions of both 1099 and salary-based employees about how income impacts your personal investment plans and strategies.