Updated over 4 years ago on . Most recent reply
Newbie in Roseville, CA (Rent By The Room Strategy?)
Hey BP family!
My name is Chelsea and I live in the Sacramento CA area. I have a BA in business, I am a licensed real estate agent and I'm currently working as a mortgage consultant assistant (while I wait for my NMLS license to be approved).
Given my obvious love for learning & my ultimate vision of achieve financial freedom, I'm OBSESSED with all things related personal development, business, and Real Estate. I spend the majority of my time consuming as many books, podcast, and YT videos I can get my hands on.
After carefully considering all the different investing strategies, I've come to the conclusion that it'd best to pursue the rent-by-the-room strategy (since Sacramento area is only getting hotter).
I've been analyzing single family homes with 5+ bedrooms, 3+ bathrooms in A/B class neighborhoods lately and I've found a great deal that falls within my criteria (200+ cash flow & 12%+ COC Return). Excuse newbie question, but what are some other metrics that I should consider when using this strategy?
I'm also open to any feedback on this strategy or if anyone has any experience with this strategy in the Sacramento area, please message me, I'd love to connect!
Lastly, I just want to say how truly grateful I am too have found such a wonderful community of real estate professionals. I can speak on behalf of everyone just starting on their REI journey, the amount of value & insight you all give is greatly appreciated. Thank you so much!