Rent by the Room - Dallas / Fort Worth, TX

General Landlording & Rental Properties
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Rent by the Room - Dallas / Fort Worth, TX

John Steffen
Real Estate Agent · Dallas/Fort Worth, TX · Member since 2019 · 78 posts · 35 votes

Hi all, does anyone in the DFW Metroplex buy turnkey (or near) SFs to Rent By The Room? Would love to connect. Thanks!

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Kyle MccawBusiness Member
Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
5y

I have house in Far North Fort Worth that I rent by the room current. Will convert to traditional rental June 1st. The cashflow just didn't justify the level of involvement I had to deal with.

McCaw Property Management4.4902 Reviews
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  • Kyle MccawBusiness Member
    Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
    5y

    I have house in Far North Fort Worth that I rent by the room current. Will convert to traditional rental June 1st. The cashflow just didn't justify the level of involvement I had to deal with.

    McCaw Property Management4.4902 Reviews
    WebsiteView Page
    1Reply
  • Kenneth McKeown
    Real Estate Agent · Dallas, TX · Member since 2016 · 432 posts · 341 votes
    5y

    @John Steffen are you looking to occupy a home and rent out the rooms yourself or are you looking to buy a SFH and immediately rent it out by room? It can go both ways - if you can find someone in charge who's willing to take the work off your plate and find roommates it can be highly profitable.

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  • John Steffen
    OP
    Real Estate Agent · Dallas/Fort Worth, TX · Member since 2019 · 78 posts · 35 votes
    5y

    What's the bed/bath of that house, @Kyle Mccaw ? Also, did you manage it yourself? The level of involvement is a common objection I'm hearing, but I know there are at least two PM companies in the area that specialize in the Rent by the Room model - Homeroom and Bungalow. Any experience with either?   

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  • John Steffen
    OP
    Real Estate Agent · Dallas/Fort Worth, TX · Member since 2019 · 78 posts · 35 votes
    5y

    @Kenneth McKeown I'm actually planning to do both in the near future (househack one and immediately rent out another by the room). I also have a few clients interested in buying to RBTR. Do you use this strategy? 

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    • JayCinta Henry
      Investor · Mesquite, TX · Member since 2019 · 111 posts · 15 votes
      5y
      Originally posted by @John Steffen:

      @Kenneth McKeown I'm actually planning to do both in the near future (househack one and immediately rent out another by the room). I also have a few clients interested in buying to RBTR. Do you use this strategy? 

      Hey, did you get around to doing this? Any update on your progress so far?

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  • Kenneth McKeown
    Real Estate Agent · Dallas, TX · Member since 2016 · 432 posts · 341 votes
    5y

    @John Steffen I've done just about everything haha. House hacked a duplex, house hacked a 4-plex, SFH flip while renting out by room, AirBnB, single roommate in primary and BRRRR.

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  • Kyle MccawBusiness Member
    Property Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
    5y

    @John Steffen I used Padsplit. 

    McCaw Property Management4.4902 Reviews
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  • Genny Li
    Baltimore, MD · Member since 2018 · 431 posts · 281 votes
    5y

    I do it with students. Somewhat chary of liability if I did it with Joe Schmoe who turns out to go crazy and eat the other tenant.

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