All Forum Posts by: Rodney Reeves

@Omar Khan Thanks! The home is not currently occupied so that should not be an issue, as far as getting permission to tour the home. I have looked up rental rates and found a good price point to offer the 2 rooms, especially since they are varying in size. But for occupancy rates in my area, would you suggest me asking some local property management companies to find this out?

Hi BP,

First, I'd like to thank everyone involved in running this amazing site, that's been a huge source of knowledge as I embark on my Real Estate investing journey. It's been an interesting journey so far but I am excited to take that leap and enter into this world!

I am in the process of buying my first home (4br 3bth SFH), as the title states, and plan to house hack by renting out 2 of the rooms. My closing date is set for April 30th and I am in the process of searching for roommates. I read Brandon Turner's articles on Renting your House and Tenant Screening: Ultimate Guide (excellent resources), and feel more confident in going ahead and marketing the rooms for rent.

Since I am not quite the owner of the property, what are some things I should look out for as far as screening tenants go? For example, since I am not going to be occupying the home until after April 30th, how should I go about showing the home to prospective tenants and are there any specific laws to limit what I am able to have them agree to before becoming the official owner?

Thanks! @Nicole A. If going the townhome route, I would prefer to avoid an HOA if possible since it is an added expense to consider, but with cash flow as my focus, as long as I am not in the red each month and for the year it would be something I could deal with.

I will be sure to ensure the property is a 2-unit truly. I'm in the process of getting pre-qualified and will mention that to my lender and agent. 

Lol thanks, @Juan Jackson ! Pretty excited to venture into real estate

@Raquel D. Thanks for the insight! I am not sure if I was reading some of the listings incorrectly on Zillow and Realtor, but it appeared they were listing both sides of the townhome together (i.e. 3 beds, 2.5 baths) so I would be purchasing the entire unit. I am still ultimately looking for a duplex since it would more than likely not have any HOAs to deal with. I have also heard they are a pain!

Hi all,

I am in the process of saving funds to purchase my first property and plan to house hack. Sorry if this is a dumb question but can you house hack a townhome (assuming not part of an HOA)? My first option would be to buy a duplex and there are options around the area I am in (metro Atlanta area) but just was wondering this since I've seen some decent priced townhomes as well. Thanks for any help!

Thanks a lot, @Nathan Platter !. I am still in the process of getting pre-qualified and saving up for a down payment but am excited to embark on the journey. Still learning more every day but GA appears to have pretty helpful programs that assist first-time homebuyers to reduce the amount required for a down payment. My goal is to have something for sure by June.

Hi Benjamin! Welcome to the community. I am also in the Atlanta area and happen to also be in IT! I am looking to take my first dive as well into real estate but looking to start by house hacking, preferably a duplex or townhome. Just wondering if you have already started the process of buying student housing and could provide any insight into the process as a fellow new investor.