All Forum Posts by: Bill Campbell

I've been doing my due diligence on some potential house hacking properties and came across some trouble trying to find what the insurance cost per month would be for the duplex.  I was wondering if anyone had in tips or a website that could help find the insurance cost.  

Thanks in advance,

Bill

@Curt Davis

Thanks for the helpful reply.

Yes, my partner would just be the fiance partner and obtain the mortgage, while I will be taking care of everything else.  Also, would there be a way to have it as a mutual property without voiding the title insurance.

Recently, I have been talking to a partner for a buy and hold deal. It would be a 50/50 partnership and my partner would be obtaining the mortgage from the bank. I read that we are suppose to put both our names on the deed, but I was wondering if their were any other documents that both our names should be put on. Also, if we should create a LLC to put the property under.

Thank you in advance,

Bill

@Kyle Kingma Thank you for the response and I'm going to look into the zoning of the house.  If it is a single family zoning, I'm looking into legally changing the zoning to a mulit family.  Hopefully fixing most of the issues like the stove and will still make the numbers work on the house.  

@Colleen F. Thank you for the response and do you think it would be better to convert the house into a legal two family (if the numbers still make sense). 

Joanne Chang Matt Devincenzo Thanks for the responses. It has helped a lot and do you think I would still be able to rent the in-law suite out even after I move out in a year or two?

I'm looking at purchasing my first property as a house hack. Where I live in Rhode Island the amount of multi families are limited, but quite a few house have in-law suites. I found a nice 3/2 that only needs a little tlc and has an in-law suite, plus I can owner finance this deal. Before I move any further on this deal, I was just wondering if there are any laws that will prevent me from living in the in-law suite and renting out the main house? Thanks in advance

I have seen a lot of people post an area rating for there property. I was just wondering how the area rating is determined?

Hello,

I was looking at purchasing a rental house that is what I think to be a good location.  It located about 5 minutes from a shopping plaza, 10 minutes from a Zoo and 10 minutes from a large city.  The only problem with the property, is that their are numerous other rentals in the area.  Due to the large number of other rentals, should I stay away from purchasing it?

Thanks,

William

Hello BP community,

My name is William Campbell. I am a 19 year old looking to get started in investing real estate. I am a college student living in North Kingstown, RI. I have no past experience, but have been learning from the podcast and reading post for the past few months. I am looking into house hacking for my first deal, but my goal is to start obtaining properties for the BRRRR method and to fix and flip.

Thanks in advance,

William