All Forum Posts by: Mitchell Standing

Excellent!  Thank you for the responses.  I guess your right about having to look at it more as roommates type of a situation.  I have also considered air B&B.  My current house has a basement that is being unused and I've wanted to make it into and air B&B. 

I have a potential house that I'm very interested in investing in.  I want to house hack it, and live in the basement while the renters would live upstairs.  I've done something similar before with friends (they lived in my basement and we shared a kitchen) but never with just run of the mill renters.  The basement in this new house has a 80% finished kitchen that could easily be completed so that really the only thing I would share with the renters would be the laundry room and access to the garage.  Otherwise we would live separately.  Is it a bad idea to have renters in your home when you're not actually completely separated from them?

Also, the cost of average rent for 3 bedrooms in that neighborhood is such that it would cover 90% of the mortgage. I would cover the extra cost of mortgage as well as maintenance and HOA fees ($160).

Also, there would be no separate metering, so that's something that would have to be managed as well.  

Does this sound like a good idea, or with house hacking is it really a better idea to have complete separation of owner and renter?

Excellent insight,

thank you.

On the string of thoughts how closely do you monitor your student tenets.Do check on the weekly monthly once a semester?  

I can't attend today's but I'm very interested in keeping in touch with this community and planning ahead to be able to attend.  Is there a sign up or a website or something I can keep in touch with and know where the meetings will be?