Calling all house hackers in the DFW market!

8 Replies

Hey BP! 

I would love to know if there are any house hackers in the DFW market right now! If there are, I would love to get to know what strategy your using and if you have found success in doing so. Feel free to comment if you are an investor in the DFW market as well!

Thanks! - A.H

Hey Aidan what's up. I'm doing one down near UTA that I've had some success with renting by the room. I made a 3/2 into a 4/2 by converting the dining room into another bedroom. I think renting by the room with at least a 4 bedroom house is the way to do it around here. Duplexes in this metro are typically overpriced and won't cash flow nearly as much renting by the room, generally speaking.

@Ryan Wiedner

Thanks for the comment Ryan! That is really neat to hear what you have done, especially as I live right over there. A 3/2 into a 4/2 with the dining room is brilliant. Are you using long term tenants or short term like Air BnB for your rent by the room?

@Aiden Hatchett  

Definitely agree with Ryan - 4/2 is the way to do it here. Anything under roughly 270k will allow you to live for free if you don't occupy the master - 5/10k more or less depending on the tax rates of your target county/area. Not sure how easy it is to get tenants right now but still see a lot of people looking for places in facebook groups.

If you are looking for FHA and are a first time home buyer - look into TSAHC or SETH programs for 3% Down Payment Assistance Grant. You don't have to pay this money back. Otherwise if you have good credit I suggest conventional.

@David Y M.

Hey David thanks for your response man. This is great info that will be implemented today into my deal analysis. I heard turnover is pretty quick from a recent conversation with one of friends on my soccer team. And I am a first time home buyer so will definitely be checking out those programs. Thanks again.

Aiden, echo what Ryan and David said. 4/2 is the way to go and Arlington is a great area for that especially if you alrady live over there. If you want me to start sending you houses from the MLS so you can analyze deals send me a direct message!

@Aiden Hatchett

I house hacked a 5 bedroom near bishop arts for 2 years. Did about 15k in basic cosmetic renovations after acquisition. I was renting 4 rooms on Airbnb mostly by the month to students / travel nurses / flight attendants. And was generating 2k a month profit plus living for free. I snagged a cheap preforeclosure so it worked well for me. I was getting 900 for beds with shared baths and 1100 for the room with a private bath. Dunno how the market is doing on room rentals right now with covid.