Who is House hacking a SFH in MN?

3 Replies

Wondering who is actively house hacking in Minnesota - Twin Cities, in a single family home. 

How difficult was it to find roommates? If willing, can you share what you are currently charging for a room and which city you're located in?

One of my big concerns before diving into house hacking is finding a sufficient number of quality roommates for rent by the room. Would love to hear real stories.

Many thanks! :)

@Danielle Lindblom I’m sort of house hacking in the Twin Cities. We own a home in non-prestigious Central Bloomington that has a studio space attached. I added a fridge/microwave so it has a wet bar kitchen. Basically, I’m renting out a room but this is not true house hacking.

Our tenant pays $800 a month. We pay all utilities. Finding a tenant was very easy in my case. I believe it was a little easier for us to find a tenant because we live on an acre in Bloomington that is all fenced. We allow a dog. Finding an acre in Bloomington for anyone that owns a decent size dog to rent is difficult.

My 2 cents if you are house hacking... find the right tenant, not just the highest paying tenant. That advice can also apply to any landlord, but especially a house hacker.

@Danielle Lindblom it ultimately depends on your comfort level in living with strangers.  I have rented rooms to friends many times at $400-$500 per month (I paid utilities) but we didn't have any issues as the houses were large enough where nobody was on-top of anyone and we had multiple bathrooms.  I can't imagine it going as smoothly if it were a 3br 1ba house.

My advice would be to first talk to your friends and people you know to see if anyone would like to rent a room.  As Corey mentioned I would focus more on the tenant than the money in this scenario as you will be sharing most spaces.  Also consider the size and what spaces would need to be shared.  It will go a bit better if you are renting out the lower level of a split level house so they can have some space on their own vs you fighting for your couch when you get home.

@Danielle Lindblom I've helped a few people this year and even what I charged a few years ago was $600 a room with utilities included. It was very easy to find roommates. Facebook marketplace and craigslist are good, free places to advertise. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here