All Forum Posts by: Nicholas Coulter

@Paul Roderick I would check out this episode https://www.biggerpockets.com/... of the bigger pockets business pordcast! # 15 if the link doesnt work. Hope you the best!

@Charles Brucato Great first move! My wife and I built up to scale by separating the tenant rent into a completely different account while we live in our Househack. So we are paying our mortgage and saving the income to allow us to buy another property every year! After 2 I think youll be surprised at the time to scale.

Congrats on the first deal! Is this next one going to be another househack?

@Ethan Dezzani Would you consider a rent by the room? Typically they have a much higher ROI. 5% down payment and renting out rooms near the college could be a great way to get started.

Hey @Austin Farsai I use rentredi! Its property management software that allows you to do background checks, credit checks and collect rents all electronically. I have placed 6 different tenants in my rent by the room house hack and it was been amazing. If you give Craig Curelop's podcast Invest2Fi there is always a discount code! Its the same software he uses also.

Let me know if you have any questions on how to run these! If you do it right its hard to get bad tenants.

@Jonathan Garcia Did your lender ask to see the lease as proof of income on the property?

@Syed Hasan I currently do rent by the room house hack and it works great in So Cal! I would imagine that it would work in the DFW area since that area is in such a housing demand. Good rule of thumb I us to find out how much each bedroom will rent for is take 1/2 of what the studios are going for in that area. 

@Juan Francisco couple questions for you.

1. Is your goal to build a rental portfolio?

2. Do you see yourself being a landlord to some extent?

3. Is your move long term? Or is it a pit stop on the way to more promotions. 
4. Has the home been your primary residence for over 24 months?

I did something similar when I was promoted to Virginia from Fontana with Target! 

@Jake Rodriguez coming back for BP con?

@Jake Rodriguez awesome man! Looking to buy down in SD also! We want a multi family in North Park ideally.