All Forum Posts by: Tam Tamm

Robert Ruiz, that's interesting. I do believe it. It makes more sense to do it that way. Considering how buying a home is such a big decision, I sometimes wondered how the buyers always pick one of just three homes presented to them. I thought maybe the show paid the downpayment or offered some kind of incentive if they choose one of them.

It makes me wonder if a show like Property Bros is the same. They probably already bought the house and they act like they;re weighing their decision.

OH and that show with the Canadians....Love or List It. Without fail something ALWAYS goes wrong and is going to cost $50K, causing the owners to give up on the deck or extra bathroom they were promised. Drama.

Thanks for your reply. My thought about leaving a room unrented (for me) is based in the assumption that renters would feel more comfortable having just one roommate chosen for them instead of two. And the more stranger roomies, the more potential for domestic unrest. Newb concern, maybe?

LOL. Just TWO homes for starters. My logic for keeping a room for myself at each spot would be to maintain access to the property and make sure the tenants aren't damaging it, moving in significant others or turning into a coke house.

I wouldn't really be living in each of the places (except in the beginning months).....eventually I'd get my own private place for myself and would probably stop in once every 1-2 weeks at most.

Still sound dumb? Ha..I'm here to learn. Thanks for your quick reply.

Boarding houses...i don't know much about them, but will see what theyre about.

Hi everyone. New here.

In case it's relevant here's a little backstory. I own a house in my home state. I landed a new job in Georgia, and I rent a room here while still carrying my mortgage back home. Of course it makes sense to rent it out, which i plan to do after i make some repairs.

I never thought I'd want to live with roommates, but since I've been out here living with two of them, I see it as a smart business deal. Having roommates live in my home isn't something I ever desired to do, but I bet the owner here doesn't have to worry about her mortgage or working her tail off to buy extra things she wants/needs.

So here's my idea.

After I rent out my original home, I'm thinking about buying a 3 BR townhouse/condo or SF here in GA and renting out two of the rooms. I'd keep one BR for myself to occupy.

Having all mortgages paid by others (if things go well), I'd save up to finance another residence and do the same thing. Get two roomies and keep a room for myself.

Then maybe I could buy (or even just rent) a place of my own. I'd still have access to both of the previous properties (with my own bedroom in each), which would allow me to stop in when I want, keep an eye on things and have repairs/modifications done to the home without having to work around their schedules.

Pros:

1. Roommates would feel like they are only living with one other roomie--not two, because I wouldn't be around that much.

2. Roomies would know that I could show up at anytime---maybe this would make a difference with how they treat the place, maybe not.

3. More rental income than if the home were rented to one person or one family.

4. No paying a property manager.

Cons:

1. Buying furniture for common areas (couch, lamps, television, dining table) for more than one household.

2. Possibility of roommates not getting along since I'd be choosing.

3. Collecting rent from 4+ different people.

So that's how I see things working from my limited vantage point. Do you think that this type model could work? I don't know much about REI yet but that's an idea I have. Thoughts and advice please from the BP vets. Thanks.

*P.S--keep in mind that im not too hip with the abbreviations and terms, yet.

Hello all.

I've been registered here for a while (may have even done one of these intros, but don't remember) and I have future plans to use property for income as everyone else here.

I do own a home in a neighboring state and I'm planning to rent it out as soon as I can, so I'll get some first-hand experience with property management (property managers) and hopefully a little cashflow.

But I have no other investment experience. Hopefully I can dig in and learn a bunch from everyone. So. Hello. Thanks in advance for your wisdom and advice.