All Forum Posts by: Account Closed

Building a duplex or triplex for house hacking could be a solid investment strategy, especially considering the potential rental income and your ability to live in one of the units. However, it's crucial to thoroughly evaluate all costs involved, including land expenses, construction costs, and potential challenges with financing. Additionally, consider the long-term prospects and market demand in your area to ensure the investment aligns with your financial goals and risk tolerance.

Hey Jeff, that sounds like a frustrating runaround with USPS and the City. It's wild how they can't agree on whether your setup is cool or not. Bureaucracy at its finest! I feel your pain. Maybe try hitting up your local postman, sometimes they know the workaround that the higher-ups miss. Good luck, man!

Finding a duplex with both units rented out right after closing is a dream. Dealing with the city on those permit issues sounds like a headache, but it sounds like you're handling it like a champ. 

It's great that you were able to find all those things you needed for the house, even during Covid.

Hey Kerry, welcome to the real estate investing world! It's awesome that you're diving in with such enthusiasm. There's a ton to learn, but the journey's half the fun, right? 

Connecting with experienced investors is a great move; they've got a wealth of knowledge to share. The flexibility and growth potential in real estate are huge perks, for sure. Stay open-minded, soak up all the info you can, and you'll find your groove in no time.

Hey Tim, welcome to BiggerPockets! It's great to have you here. Managing 9 rentals in 3 states must keep you on your toes! This community is a fantastic resource for learning and connecting with other landlords. If you ever have questions or want to share your experiences, don't hesitate to jump into the discussions.

Landlord's insurance isn't always required, but it's smart for protecting your investment. It's usually more tailored for rental properties, covering things like loss of rental income and liability. Your current homeowners policy might not cover rental activities, so check with your insurer.

Adding an umbrella policy could boost your liability coverage, but it won't replace landlord's insurance. It's good that you're having renters get their own insurance, as it can protect their belongings and limit your liability. Consider talking to an insurance agent who can give you specific advice for your situation!

For the lease agreement, you can find templates online or through a real estate agent. Just make sure it covers all the important stuff like rent, deposit, and any rules you want to set.

For screening, you'll want to check things like credit history and rental history. There are services that can help with this, or you can do it yourself by asking for references and running background checks.