We bought are first property !!!

House Hacking
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We bought are first property !!!

Cameron Woodward
New to Real Estate · Huntsville AL · Member since 2023 · 16 posts · 24 votes

Finally took that first step. Now I just need to find some tenants to house hack with.

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Caleb Bryant
Rental Property Investor · Huntsville, AL · Member since 2015 · 401 posts · 309 votes
2y

Heck yeah! I've house hacked 2 houses so far and it's definitely a cool way to get started! Also, Huntsville is a great spot to own real estate, congrats! 

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  • Daniel McDonald
    Real Estate Agent · Beverly, MA · Member since 2019 · 358 posts · 308 votes
    2y

    Congrats man! 

    1Reply
  • Andrew PostellPro Member
    Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
    2y

    @Cameron Woodward congrats!  I started my career house hacking as well.  Got me to where I am today.  Love that strategy!

    0Reply
  • Suzanne Reinbold
    Realtor · Grand Rapids Area · Member since 2020 · 13 posts · 10 votes
    2y

    Congratulations on your first purchase. Huntsville looks like a good area for investing. 

    1Reply
  • Anthony Swain
    Real Estate Agent · Charlotte, NC · Member since 2021 · 147 posts · 150 votes
    2y

    @Cameron Woodward LETS GO!!

    Looks like the property is in pretty solid shape! I'm sure if it is in a decent area and the inside looks okay, then it should be easy for you to rent out. 

    Is your plan to rent by the room?

    Maybe ask the guy in the photo if he needs a room. Haha

    Happy House Hacking!

    -Ant

    1Reply
  • Matthew Gentile
    Real Estate Agent · Worcester, MA · Member since 2023 · 88 posts · 52 votes
    2y

    Well done Cam!

    First step is always the hardest, but now the momentum starts to build!

    1Reply
  • Caleb Bryant
    Rental Property Investor · Huntsville, AL · Member since 2015 · 401 posts · 309 votes
    2y

    Heck yeah! I've house hacked 2 houses so far and it's definitely a cool way to get started! Also, Huntsville is a great spot to own real estate, congrats! 

    2Reply
  • Derrick G McIntire
    Real Estate Agent · Member since 2021 · 37 posts · 15 votes
    2y

    Congrats! If you need any property management advice, I'm here to help! 

    0Reply
  • Jerell Edmonds
    Investor · Warwick, RI · Member since 2019 · 129 posts · 68 votes
    2y

    Hell Yeah congrats brother !

    0Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    Do you have applications, screening criteria, leases, etc?

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  • Dave SpoonerPro Member
    Rental Property Investor · Cincinnati, OH · Member since 2020 · 870 posts · 823 votes
    2y

    Congrats! I like the strategy. Are you looking to do LTR or MTR?

    [email protected]
    0Reply
  • Alecia LovelessPro Member
    Member since 2019 · 3k+ posts · 2k+ votes
    2y

    @Cameron Woodward I’ve been house hacking for almost 30 years. I have now progressed to where I hack a duplex and just rent out the other side.

    Keep growing and momentum will start to build. You’ll get more and more deals!

    0Reply
  • Kevin PaulkPro Member
    Rental Property Investor · Brooklyn, NY · Member since 2016 · 219 posts · 174 votes
    2y

    @Cameron Woodward Congrats! ....You completed the hardest part which is taking action. 

    0Reply
  • Cameron Woodward
    OP
    New to Real Estate · Huntsville AL · Member since 2023 · 16 posts · 24 votes
    2y
    Quote from @Dave Spooner:

    Congrats! I like the strategy. Are you looking to do LTR or MTR?


     To be honest What ever I can find probably MTR because we plan to process as fast as we can and if we can get another house we would just rent the whole thing out 

    0Reply
  • Cameron Woodward
    OP
    New to Real Estate · Huntsville AL · Member since 2023 · 16 posts · 24 votes
    2y
    Quote from @Michael Smythe:

    Do you have applications, screening criteria, leases, etc?


     Not yet we have one room filled because we known him and he stayed with us in an apt but were working on posting on Facebook and rentready but we do have an idea type of tenant we want. 

    0Reply
  • Cameron Woodward
    OP
    New to Real Estate · Huntsville AL · Member since 2023 · 16 posts · 24 votes
    2y
    Quote from @Anthony Swain:

    @Cameron Woodward LETS GO!!

    Looks like the property is in pretty solid shape! I'm sure if it is in a decent area and the inside looks okay, then it should be easy for you to rent out. 

    Is your plan to rent by the room?

    Maybe ask the guy in the photo if he needs a room. Haha

    Happy House Hacking!

    -Ant


     Yes we are gonna rent the rooms out. One thing they did was turn the garage into a room so were gonna take advantage of that and rent it out as a bedroom 2

    0Reply
  • Mary Smith
    Rental Property Investor · Member since 2021 · 385 posts · 197 votes
    2y

    @Cameron Woodward Congratulations on taking that first step!!

    0Reply
  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    2y

    @Cameron Woodward hopefully, you don't find out the hard way, but why would you let a friend move in without a lease?

    What happens if they don't pay rent or refuse to lease?

    Business/money has ruined many relationships:(

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    0Reply
  • Jay D.
    Investor · Member since 2023 · 1 post · 0 votes
    2y

    @Cameron Woodward Congratulations man! Renting by room seems a good way to get started with rentals, leases, and all the other caveats. My partner and I are prepping to list out our primary as well. Good luck with your real estate journey.

    0Reply
  • Joshua Arnold
    New to Real Estate · VA · Member since 2024 · 2 posts · 1 vote
    2y

    CONGRATS!

    I'm new to house hacking and real estate in general. Do you have any advice on how to get started? 

    Also, did you do any work on the property before looking for tenants, if so- what if you don't find me asking?

    0Reply
  • Nicholas Schwarte
    New to Real Estate · Tempe AZ & Carlsbad CA · Member since 2021 · 27 posts · 21 votes
    2y

    Congrats!!

    0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2y

    @Cameron Woodward

    Congratulations on purchasing your first property!

    House hacking helps you grow wealth and cut down on your home loan costs by letting others live in your place. To get renters, get the home ready, set rent that's fair, put ads online, check people who want to rent by using a form, look into their past, and call their old landlords and jobs. Make a rent contract that's clear and follows the law, be clear about what you expect, and go through the house with them when they move in. Keep a good relationship with your renters by talking clearly and often, and make sure the house stays in good shape. Think about getting pro photos, using services to check renters, or hiring someone to manage your property to make things easier.

    Good luck!

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