Is Homeroom property management any good?

[Nathan Stone]

Hi there, 

Myself and a few partners are considering an investment with Homeroom (livehomeroom.com). For those of you that don't know, they specialize in renting out rooms in a large house individually. This (hopefully) generates more revenue than the home would otherwise attract as a single family home. In return for full service management, Homeroom take 15% off the revenue. 

I'd love to hear if anyone has worked with the company before and how their experience has been. Because of the uniqueness of the model, it's hard to double check their estimated rent prices, so we're curious if it's worked out for others. Any info you can share would be much appreciated.

Thanks!

[Faron Cordrey]

I own a rental property with Homeroom in the Dallas area. I couldn't be more pleased. I own a seven room home, first six rooms leased out immediately, the 7th a month later. Cash flow was immediate, and I'm clearing over $2k per month net profit. Couldn't come close to those results going a traditional SFR. I'm completely hands off, headache free. I looked at various other models with numerous other companies, none of them had a more secure, risk free business model. Their neighborhood selection process is key in affording investors a home in an area that instantly produces positive cash flow and high probability to earn above average market appreciation over the long term. This sole property pays my primary home mortgage, allowing me to own two homes using other peoples' money. Looking to buy my second property with Homeroom in the near future, and many more going forward.