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Real Estate Deal Analysis & Advice

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Elijah Miller
  • Central Kentucky
8
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18
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#SuccessStorySunday (In-progress, but still excited)

Elijah Miller
  • Central Kentucky
Posted Feb 2 2020, 13:18

Good afternoon, everyone!
  Last week on Friday, I was seriously considering posting for advice about how I had messed up potentially and whether I should simply let this one play out until after I finish school or if there were other options to consider. 

However, I have had applications pouring in over the weekend from people that would be interested in renting a room for me.  Here's the story:

I bought a single family home in the Louisville area so that I could move/return to school in August of last year.  A friend moved in and I've been renting to him for about $500/mo, which has been great, but it wasn't as much as I was hoping and recently I have grown quite sick of the job I was working.  Despite having multiple listings for my other two rooms to rent out, I hadn't been catching many leads for them. 

Up until about a week ago, when I decided to go ahead and sink some money into advertising.  I included listings on FurnishedFinder and Roomster.  Roomster so far has been much more effective for this type of endeavor in my area.  I've generated 10+ leads so far and have interviews with 4 lined up at a price point of $400-$475/mo (Dependent on furnished vs. unfurnished), which will allow me to live here for free essentially with utilities included. 

My businesses on the side are also well under way.  One is generating $1000/mo but time intensive, and the other is set to generate $600/mo here soon with little involvement on my part.  


Just wanted to share.  Thank you all for being such a great resource! 


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