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Message
re: House Hacking is a cheat code
Posted on 9/13/24 at 8:06 am to Louie T
Posted on 9/13/24 at 8:06 am to Louie T
quote:
Which part of Houston? If you don't mind sharing
I looked into similar arrangements years back, but I couldn't justify moving to the properties that made sense for the money generated. I didn't want to give up the 10 min ride to work and a safe and vibrant neighborhood for $1000/month.
I do deeply regret not buying in Garden Oaks / Oaks Forest.
It's funny you say that- this property is right on the edge of Garden Oaks. It's not quite as nice as parts of GO, but you can see it coming our way. In a few years I think it will be just like it.
Also i feel you on the commute part! We were 10 minutes from the office and now it's more like 25-30... but still pretty manageable for Houston standards.
1
Posted on 9/13/24 at 8:08 am to KWL85
quote:
What are "airbnb" people? Dumb.
People renting for a day or two that DGAF
Posted on 9/13/24 at 8:30 am to Upperdecker
quote:
What are "airbnb" people? Dumb.
People renting for a day or two that DGAF
____________
The premise is reasonable. My personal experience is different. We own both long term and short term rentals. Our worst renters have been long term. Maybe, we have just been lucky. One aspect is some people are just bad people; inconsiderate, not responsible or accountable. That type person is in your place a lot longer in a long term rental.
What are "airbnb" people? Dumb.
People renting for a day or two that DGAF
____________
The premise is reasonable. My personal experience is different. We own both long term and short term rentals. Our worst renters have been long term. Maybe, we have just been lucky. One aspect is some people are just bad people; inconsiderate, not responsible or accountable. That type person is in your place a lot longer in a long term rental.
Posted on 9/13/24 at 10:05 am to LikeMike02
Doing that saved me financially after a rough divorce. Bought a dilapidated double, kept one side rented paying 60% the note. Fixed my side up and then switched sides and bumped the rent to cover the whole mortgage. Lived there 13 years (eventually converting it to a 4/2 single) and had enough equity when I sold it to buy a nice condo and another duplex with cash.
Doing real estate well can put you into the next level of financial security.
Doing real estate well can put you into the next level of financial security.
Posted on 9/13/24 at 12:45 pm to dat yat
quote:
Doing that saved me financially after a rough divorce. Bought a dilapidated double, kept one side rented paying 60% the note. Fixed my side up and then switched sides and bumped the rent to cover the whole mortgage. Lived there 13 years (eventually converting it to a 4/2 single) and had enough equity when I sold it to buy a nice condo and another duplex with cash.
Doing real estate well can put you into the next level of financial security.
That's a great move! Sounds like it worked out well for you.
I'm hoping real estate is good to us as well
Posted on 9/13/24 at 1:16 pm to KWL85
quote:
The premise is reasonable. My personal experience is different. We own both long term and short term rentals. Our worst renters have been long term. Maybe, we have just been lucky. One aspect is some people are just bad people; inconsiderate, not responsible or accountable. That type person is in your place a lot longer in a long term rental.
Isn’t there a little more ability to hold people accountable for damages with a short term rental?
Posted on 9/14/24 at 2:32 pm to LikeMike02
If you are going to let them sublet it, I would increase the rent or add in monthly maintenance fees. I think in general the type of person that rents a place just to sublet it is extremely scammy but if you feel you have vetted them enough go for it.
Posted on 9/14/24 at 3:34 pm to LikeMike02
quote:pics?
My wife
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