All Forum Posts by: Nicholas Coulter

 Depends on the area but I have seen multiple people split houses easier than apartments. Not sure if thats driving it.

when looking to go local I would consider a house hack. Its a great way to blend investing and saving on cost of living in a pricey market. 

Hey not looking to be a partner but willing to answer any questions you may have. 

I would pay for new photos. I have a person who has done my listings and airbnb. That should pull in a better interest. Are you posting right at market rent? with my last tenants I tried posting rent "discounts" for length of lease. MTM was 1k, 6 months was 900 and 12 months was 800 as an exaggerated example. 

Interesting thought here. It doesnt sound like the worst thing to own for the future sales. Would the return on investment be a better way to look at it since you will have a seller carry and little money down?

The equity return could be a powerful tool in the future. 

@Michael Shea My wife and I are doing this strategy right now! Would love to offer any advice we can.

Have you done research into the area? I ask because that would dictate my strategy. A HH/STR can be powerful in the right market. Not sure if that would be idea in Florida, but i certainty enjoy visits there.

I would make sure youre building some relationships with local investors in that area and see what they are doing. People typically invest in what makes money! 

I would just use rentredi to screen tenants and collect rent payments. 

For the banks dont overcomplicate your first deal. Just open a separate account through a CU or a bank you currently bank with for the business. Also check your states Security deposit laws. Some states like mine require it to be held separate from rent collection accounts. 

Good luck!

Congrats. Having this mindset this early will pay off very well in the end!

First off I would say be preparred to see people who you love and respect judge the financial journey you will start down. Many people dont think like this and dont understand why people would live like no one else so they can live like no one else can later. 

Id line up these steps.

1. consume education through books and podcasts. A few favorites of mine are set for life by scott trench, Househacking strategy by craig curelop and millionare next door.

2. Develop incredible savings habits. Dont deprive yourself but figure out what brings you joy when spending. "you can afford anything but not everything" 

3. I suggest all new investors do a HH rent by the room. if you read the books above youll see why.

Have fun! Let me know if you ever need any questions answered. Welcome to a wonderful community.