Hamidou Keita
Seeking Advice on House Hacking Strategy: Buying Single-Family Home to Build Duplex i
5 January 2025 | 24 replies
@Hamidou Keita House hacking by converting a single-family to a duplex is a smart strategy, but requires careful planning.Pros: Offset living expenses, higher rental income, increased equity.Cons: Significant conversion costs (permits, construction), zoning restrictions, living in a construction zone, managing two tenants.Key Considerations:Feasibility: Check local zoning and permitting.Costs: Get detailed construction estimates.Market Analysis: Ensure post-conversion rent covers expenses and there's rental demand.Resources: BiggerPockets forums, local contractors, real estate agents.Have you researched your target property's conversion potential?
Chris Olandese
Tenant threatened to move out
18 December 2024 | 13 replies
couple of bullet points to bring up:* she's on M2M* I told her on 12/7 of the new rent which would apply to a new Jan. 1 effective lease, this is when I got the "I'm moving out" message* Sent her the move-out letter on 12/11, with options for her to either be moved out by 12/31 (she's fully paid up for month of December) or by 1/11 (30 days from date of notice) and pay a pro-rated rent based on her CURRENT rent amount. her choice, either is fine with me.With all that said, I'd love to do as you mentioned and post a notice on her door.
Marc Brown
Mid term rentals by the room
17 December 2024 | 3 replies
Welcome and great idea, I think the MTR space is still very smart area to be getting involved in
Ryan McKay
The Next Deal...
29 December 2024 | 24 replies
We've since paid off the HELOC, but realistically it wouldn't be smart to rinse-repeat these days as the borrowing market is obviously MUCH different than it was in early 2022 when we started down this road to begin with.
Samuel Gebretnsae
Seller said "He is not required to disclose water damage repair done"
8 January 2025 | 27 replies
@Samuel Gebretnsae You have two choices. 1) Walk away and leave your money on the table. 2) Go ahead with the deal and take a leap of faith that the repair was done correctly.
Matt Lopez
Buyers didn't show to closing, breach of contract
18 December 2024 | 2 replies
The time for them to negotiate the price was when they got the appraisal done-they didn't, so too bad.Two choices-take the $5K and relist with a new realtor or negotiate with them for the $24K they are short.
Renee R.
Property Management vs Self Managing in San Diego
24 December 2024 | 8 replies
If it is to manage property then hire more people, otherwise focus on what you're good at and hire a company.2) Hardin Realty & Property Management is a good choice because of our experience and specialty working with investors and maximizing ROI.
Bryson Owensby
When to take profits out of Rental?
21 December 2024 | 18 replies
Of course, it's always smart to keep funds aside for unforeseen or emergency related costs.Others who have already responded have provided some great opinions.
Treza Edwards
Mandatory Inspections for rental properties
18 December 2024 | 5 replies
It would be smart to do a full lease audit, estoppels issued, and tenant interviews.And if you are buying cash, there is nothing mandatory, since it is your money at risk. but again, physical condition inspections, understanding of tenants (they are a great source of information about issues with the property that the landlord may not know or may not disclose), surveys to understand accurate property lines, etc.
Federico Dallo
Seeking Advice on Property Investment for Renting - Budget of 300K
26 December 2024 | 10 replies
But I agree with you that staying in the US for investment is probably the best choice.