House hacking a duplex!

5 Replies

Hello all, so today I officially closed on a duplex that I am going to househack. I won’t be able to move in until the month is over, since there are existing tenants. The other side is managed by a property management company at the moment. I plan to self manage the one side so I’ll be officially landlording once I move in. I’m 26 and this is my first time investing and will be my first landlording experience. I’m not too crazy about the idea of Inheriting tenants but I’m hoping to make a smooth transition. I am open to any tips, advice, or steps I should take from this point on! Feel free to ask not about the purchase as well!
Originally posted by @DJ Espiritu :
Hello all, so today I officially closed on a duplex that I am going to househack. I won’t be able to move in until the month is over, since there are existing tenants. The other side is managed by a property management company at the moment. I plan to self manage the one side so I’ll be officially landlording once I move in. I’m 26 and this is my first time investing and will be my first landlording experience. I’m not too crazy about the idea of Inheriting tenants but I’m hoping to make a smooth transition. I am open to any tips, advice, or steps I should take from this point on! Feel free to ask not about the purchase as well!

 Welcome to the site DJ.

Be honest & fair with them but lay out the rules & stick to them. They need to understand right from the get go that what you say goes. 

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

Congrats @DJ Espiritu ! Just try to set the right expectations with how your relationship is going to work. If the tenants are older, they might not take you as seriously being 26. But if you know what you're doing and earn their respect, you'll be just fine. 

You might want to go in and find something to fix/update right away so you have the chance to demonstrate that you're taking it seriously from the start. If you set the bar high for being a good landlord, that will go a long way. 

Thanks @ryan_evans! What type of upgrades do you feel add the most value?

Thanks for the advice James Wise. It’s definitly going to be a learning experience but one I’m looking forward to tackling!

Originally posted by @DJ Espiritu :

Thanks for the advice James Wise. It’s definitly going to be a learning experience but one I’m looking forward to tackling!

 That's the spirit. Updated this thread when you take down your 1st deal. I'd imagine lots of folks would love to hear how it played out.

James Wise, Real Estate Agent in OH (#2015001161)
216-661-6633

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