All Forum Posts by: Rachel Kokosenski

 You are most welcome. Hope it works out for you! Sounds like an interesting property.

Check with your city planning department about the zoning question. They should be able to point you to the regulations governing that specific part of the city/town.

You might consider renting by the room. I've heard of people renting rooms in a large house like this to students, particularly serious ones like lawyers or med students who are looking for simple accommodations and quiet for studying. You did not mention the exact number of bedrooms, but let's say there are 6 total x (room rent) = likely 2-3 times what you would get by making it a duplex.

Remember if you are going to consider it a house hack, you'll need to be living in one of the rooms too! Hope that gives you some ideas to get started.

What type of lender are you talking with? Big bank or discount one like Rocket?

I'd recommend you talk with a mortgage broker as they can shop multiple lenders and are typically more familiar with creative financing and 1099 employees. If you need any recommendations, send me a message and I'll give you some names to try!

Contact a local mortgage company or title company to get this answer. California does have some protections for inheriting property and title transfers. Best of luck to you!

@Noah Masa - I'd recommend you contact your local association of realtors to get these questions answered. Here in Michigan, our association answers questions for the public all the time. Just Google, "Illinois Association of Realtors in [insert major city near you]" and you should be able to get the contact information.

Kim - both realtors and appraisers use MLS data plus knowledge of our local markets to pull comps. The Zestimate can be a helpful starting point, but is simply aggregating data and doesn't factor in things like renovations, new furnace, new roof, etc. that an agent or appraiser will look at. I'd recommend getting connected with an experienced realtor in your area to get you the insider information.

If you need help finding an agent, let me know because I'm connected with agents all over the country!

@Mike S.- what part of Michigan are you in? I'm in western Michigan, Muskegon/Lakeshore area, and there are definitely great deals to be had out here. Feel free to connect with me if you'd like to discuss further!

@Gabriel Sánchez - many realtors would love to have a college student intern with them in the summer. You could learn A LOT that way about how the market works, what makes a good deal, etc.

@Courtney Sutton - you are welcome!

@Pierre Ligon - also some great input from you too!

Welcome to investing!

I'm on the Lakeshore of western Michigan (Muskegon/Grand Haven). Lots of deals to be had out here. 

Let me know if you have questions about this area.