All Forum Posts by: Quan Tran

Good afternoon everyone, all inputs are much appreciated.  We have a 3 family house with each unit having 3 bedrooms.  The going market rate now in Worcester MA is between $1400 to $1600 if I'm not mistaken and I only rent out my unit for $1,000 because they are long term tenants ( 4 years and 5 years).  We want to increase our rent to $1100 but we are hesitant because of the pandemic.  Any thoughts?  Thank you.

I live in Worcester MA which is about 1 hour from Boston.  I plan on renting up my single family home which is about 2300sqft 4 bed 2.5 baths for 2700 to 3000.  Thank you for all the reponses.

Thank you so much for all the responds.

So what does a normal process look like if I was to buy it directly from the seller.  Do I hire an attorney?

Thank you so much for the quick respond Tyler.  My current house has a very large kitchen and a big living room in addition to the dining room and family room.  I wanted to add a temporary wall and entrance door for just the dining room and the family room and still have the large kitchen and large living room intact.  So the common area is still pretty large.  The increase in rental is there, but is it better to manage with family rental vs student rental.  Where I live is 1 mile away from a major university and there are a total of 7 universities around town.  Any other thoughts would greatly be appreciated.  My other question is, is it even possible to add a temporary wall and door way in which it will be easily removed later on? 

So, I am about to purchase a 3 family home in which my family will live on the first floor and rent out the 2nd and 3rd floor.  I am currently living in a 2,400 sqft single family with 4 rooms 2.5 baths.  My plan to house hack is to rent out my single family home to students vs a family.  To rent out to students, I am planning to convert a spacious family room and a dining room into two additional rooms.  So, in total I am renting out 6 rooms at $700 each so total is 4200 to rent out for students vs 2500 to rent out to a family.  Please, let me know the pros and cons for this.  Thank you.