All Forum Posts by: Franklin Ezenwa

thanks @Kathy Henley. yes there 2 wide windows down there.

Hello BP fam in Ottawa ON,

Please I'll like to get some insight here...

I recently closed on a property in Orleans, Ottawa, ON .  My original plan is to house hack and rent by the room.

There're a number of amenities just few minutes drive away from the place e.g.  Place d'Orleans, Community Center, etc.

The house has 3 bedrooms on the 2 level and 1 room in the basement which leads to the laundry room. The previous owners had used that room for a play area for their kids but I plan to convert that into a bedroom and rent out. However, in order to do that I feel it makes sense to move the laundry out of there into the storage room (this has a separate entrance from the other room where the laundry room is) that's in the basement level as well to create privacy in that room.

Here's where I need some input as I currently have 2 thoughts on that...

1. convert the laundry room into a 3 piece bathroom and rent out that entire room say to an individual; I can put a portable wardrobe in there. (There's no washroom on the basement level. There's just a powder room on the 1st level then a full bath on the 2; hence,the reason for this point) 

2. convert that laundry room into a closet and have that room rented out.

Obviously, the cost for #1 is more than #2 . 

I am open to other options.

So, I will like to know what will be the best option especially considering the demographics in that area. I'm new to Ottawa so I'll appreciate your thoughts on this for those who are familiar with that area. This is my first.

Thanks so much for your time.

Frank

Welcome Vincent Martineau-Cammalleri,

In terms of education, be sure to check out the podcast

https://www.biggerpockets.com/podcast

as well as the guides 

https://www.biggerpockets.com/guides

Great investing!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

 

Hello,

Will like to get some input on this.

It's going to be my first property for a househack in Ottawa Ontario.  There're recent renovations and upgrades at the house (roof, water heater, etc , as per description in the deal).  

When accounting for the period I'll be there, I know the cashflow is negative but the story will be different when I eventually move out and rent the room.

Do the numbers entered look good? 

Thoughts pls.

Appreciate.

Hi guys, 

For someone looking to do a house hack, what's considered a good deal in terms of cash flow when buying a house for that purpose? In the House Hacking Strategy book by Craig Curelop, I know the recommendation was to have  at least $10K reserve  per househack but not sure about the cashflow.

Also, what are some great ideas for a good house hack deal in Ottawa for those in that area. Will be great to hear from those who've done that in the area.

Appreciate!

Not exactly @hailoc; mostly career-related move. 

Hello,

I am currently based in Markham Ontario. I joined the Bigger Pocket community a few days ago. Prior to joining I've been doing real estate education e.g. the BP podcasts, webinar. Then I read The House Hacking strategy (by Craig Curelop) and Set For Life (by Scott Trench) and got sold on the idea of house hacking ; now I am looking for opportunities to put that into action.

Ottawa ON is where my eyes are fixed on. For the house hack, I'd prefer a house with a walk out basement where I can stay while I rent out the rooms in main house. I will like to learn from investors in that area the best places to find a good house hack and any other advice will be appreciated. 

Thanks 
Frank