All Forum Posts by: Tiana Lazard

Y'all I read somewhere that you just have to live in your home for a certain amount of days out of the year for it to be your primary. 

Quote from @Joe S.:

Quote from @Tiana Lazard:

Quote from @Joe S.:

Quote from @Tiana Lazard:

Ayeeee! Is $300 a month cash flow good? I've been house hacking for two years and for the first time I'm gonna be renting out the whole house and moving. My tenants will cover the mortgage plus $300. Is that good? I'm ecstatic! Any tips? Does this mean I can't claim a homestead exemption anymore? And what does that mean exactly??

 Where are you going to move and live for $300 a month?

So originally I was gonna do student living which is $475 a month. But I heard it's nasty and dirty and roach infested. Now I'm thinking of not having permanent housing at all. I spend every night at my bf's so I really would only need somewhere to go throughout the day. I can go on campus, my $100 storage unit, a coffee shop, etc. 

 How long have you been in college and what’s your major?

 Many years at this point haha but I graduate with my masters in social work this May! Bought my house 2 years ago and this'll be my first time renting out the whole house instead of just a room. 

Quote from @Joe S.:

Quote from @Tiana Lazard:

Ayeeee! Is $300 a month cash flow good? I've been house hacking for two years and for the first time I'm gonna be renting out the whole house and moving. My tenants will cover the mortgage plus $300. Is that good? I'm ecstatic! Any tips? Does this mean I can't claim a homestead exemption anymore? And what does that mean exactly??

 Where are you going to move and live for $300 a month?

So originally I was gonna do student living which is $475 a month. But I heard it's nasty and dirty and roach infested. Now I'm thinking of not having permanent housing at all. I spend every night at my bf's so I really would only need somewhere to go throughout the day. I can go on campus, my $100 storage unit, a coffee shop, etc. 

At the risk of sounding too dramatic (but I know us on BP can get extreme to reach our goals), I am going to NOT get another residence. I am going to sleep over at my bf's house at night and stay on campus or at a coffee shop or something during the day. No need to pay hundreds a month for an apt when I literally sleep over at his every night anyway. Next year he's planning on buying a house so we can officially live together, but I'm gonna grind this year and stack as much as possible without permanent housing. 

Thank you all for your responses! I am better for knowing what cash flow actually is, the rules on homestead exemptions in my area, etc. I'm very excited and I'm soaking in all of the knowledge you all have. 

I sure will! Thanks for your advice!

Quote from @Patrick Roberts:

Quote from @Tiana Lazard:

Update!! My home has been rented out :) I'm officially cash flowing!

 Nice! Once youve got a few months of experience and everything is stable, start looking for the next one.

Ayeeee! Is $300 a month cash flow good? I've been house hacking for two years and for the first time I'm gonna be renting out the whole house and moving. My tenants will cover the mortgage plus $300. Is that good? I'm ecstatic! Any tips? Does this mean I can't claim a homestead exemption anymore? And what does that mean exactly??

Update!! My home has been rented out :) I'm officially cash flowing!

Ahh. Gotcha. I'm asking for too much. Okay I'll keep that in mind. I told the couple that I got an offer for $1,700 but wanted to ultimately rent to them but need the income. They said they'll discuss and get back to me tonight. If they say they can't swing it, should I just go ahead and rent to them at $1,550?