All Forum Posts by: Olivia Radziszewski

Hi @Deanna Luna- Yes! You can definitely rent out the other room with a short or mid term rental! I would check with your CPA on tax laws on those types of rentals in your area. 

Since you are thinking of building a new structure it sounds like you perhaps have the ability to purchase a new property? If that is the case and the mortgage is too high for you to rent out your property conventionally and cash flow, you can rent by room using any strategy but I have more mid or short term in mind. Then buy a property where you can perhaps 

A) have more room to more comfortably rent out a room 

B) have a separate dwelling to rent out to more conventionally house hack

@Meghan Budiman- Try to the Network tab for some Meetups and maybe a real estate agent can help you with some insight. Congrats and good luck!

Congrats @Marina Hauser! Thank you for sharing!

@Tyrel Holman I have colleagues with short and mid terms rentals in Nashville and surrounding towns! In order to start looking into that market I would identify who you would be trying to target as tenants. Nashville itself at this point can be more difficult to invest in due to how expensive it is. If you are not yet connected with an agent out there I would speak with one who is an expert in STR's that can help guide you! Good luck!

Hi @Renaldo Johnson- Have you been reading the Bigger Pockets authors' books? When I was first getting started I would read their books and listen to the podcast. Still do! Have you started going to meet-ups? If you haven't I would also go to a local meet-up to start meeting people and talking about real estate with real people in real life! Good luck!

@Mollie Hess- I think everyone has their own specific business plan. So, if that will work for you, then do it! I wouldn't, I have a thing against renting, so I would rather figure out how to make it work with a purchase, perhaps renting out rooms via AirBnb in my own unit, than continuing to rent. 

@Jewel B.- These are great questions. As this happens to many people as we are getting started. As you continue on  you get better at blocking out irrelevant information. Or hearing it but not giving it too much weight. 

Ultimately, you will need to decide what information you want to believe. However, numbers do not lie and the market will dip at some point. Real estate dipping will always be inevitable. So, run your numbers in a way to protect yourself from them as best you can.

The worst thing you can do, in my opinion, is stay in analysis paralysis. Experience is the only way you can learn! Don’t be careless but take the next step. Whatever you decide that it is:)

@Antonio Rivera Fontanez- welcome! Happy to have you as a part of the community. 

Hi @Mollie Hess- for a house hack I would consider it a win if you can live for free or even for a couple hundred dollars a month. The goal here is to significantly reduce one of the largest expenses for many people- housing. You should then also look and run the numbers on the property as if you would not be living there. Good luck!

Hi @Vivan Bhalla- I am all for an ambitious goal! Have you considered mid or short term rentals to help you to achieve it? Good luck!