Room Rentals, House Hacking

Room Rentals, House Hacking

Member since 2022 · 7 posts · 8 votes

I am an airline pilot that has been looking at alternative income streams as my professional job is not always a stable job market. I have started doing rental properties since 2022 after moving out of my first home. I didn't want to sell it because I had only lived there a year and new I would take a loss with agent fees etc. Looked into having it be a short-term rental and became more interested than ever at real estate investing. I now have three properties in my system and love providing good quality housing for traveling professionals. I manage two properties myself and have grown so much through the experience. Dealing with the problems that have risen has been a hassle and a pleasure. Coming into 2025, I am looking at growing my operation and improving the quality of the products I have made available to growing client list. 

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Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
1y

@Peter Bendorf My brother is on track to become a commercial pilot and just passed his multi-engine rating test. Seems like a great career! 

Where do you live and do you own a primary residence now? 

Where are these properties located? How and why are you self managing if you're a pilot? That sounds like a massive headache if you travel a lot for work. Rental management is easy but it's not passive. It still takes up your bandwidth and time. It may not be the best use of your time. Something to think about in 2025. 

Rent by the room and house hacking is "fun" for about 12 months. RBTR is management intensive (tenants coming and going) and house-hacking is great if you don't have kids and don't mind living next to tenants. Generally speaking it's a newer investor/ first time buyer strategy. You have three properties so I'd think you're beyond exploring those.  

I'd be aiming to BRRRR (some cash in the deal) or flip RE with your cash or a partner in 2025.

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  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    1y

    @Peter Bendorf My brother is on track to become a commercial pilot and just passed his multi-engine rating test. Seems like a great career! 

    Where do you live and do you own a primary residence now? 

    Where are these properties located? How and why are you self managing if you're a pilot? That sounds like a massive headache if you travel a lot for work. Rental management is easy but it's not passive. It still takes up your bandwidth and time. It may not be the best use of your time. Something to think about in 2025. 

    Rent by the room and house hacking is "fun" for about 12 months. RBTR is management intensive (tenants coming and going) and house-hacking is great if you don't have kids and don't mind living next to tenants. Generally speaking it's a newer investor/ first time buyer strategy. You have three properties so I'd think you're beyond exploring those.  

    I'd be aiming to BRRRR (some cash in the deal) or flip RE with your cash or a partner in 2025.

    • Member since 2022 · 7 posts · 8 votes
      1y
      Quote from @Jaron Walling:

      @Peter Bendorf My brother is on track to become a commercial pilot and just passed his multi-engine rating test. Seems like a great career! 

      Where do you live and do you own a primary residence now? 

      Where are these properties located? How and why are you self managing if you're a pilot? That sounds like a massive headache if you travel a lot for work. Rental management is easy but it's not passive. It still takes up your bandwidth and time. It may not be the best use of your time. Something to think about in 2025. 

      Rent by the room and house hacking is "fun" for about 12 months. RBTR is management intensive (tenants coming and going) and house-hacking is great if you don't have kids and don't mind living next to tenants. Generally speaking it's a newer investor/ first time buyer strategy. You have three properties so I'd think you're beyond exploring those.  

      I'd be aiming to BRRRR (some cash in the deal) or flip RE with your cash or a partner in 2025.


      You're exactly right, I was house hacking to see the viability of RBTR and once I filled up, I left. I rent right now while I look for the next deal. I manage my properties mostly remotely and I've got maintenance management worked out. Looking to onboard a property manager and get myself out of the day-to-day operations. Fix/flip hasn't really been an interest I have but I do like BRRR method. I've not refinanced any of my current properties but there could be some equity there. Right now I'm still in the weeds of day-to-day operations so when I get the properties I manage over to someone else to manage I'll look into expansion strategies.

  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    1y

    @Peter Bendorf Why would you rent when you could be living for free? 

    Unless you have better arrangements, family, or can't stand living next to tenants anymore you should be living in one of your units banking $$$ until you save for the next deal. 

    "Looking to onboard a property manager and get myself out of the day-to-day operations." - If you're making good money flying I'd start this immediately. Read and research questions to ask PM companies. They take roughly 8-12% of monthly rent. Meet them in person, establish a relationship, and find the value they claim to provide. 

    Let them manage a few units and self manage a few until you trust there process. It's not on you anymore. You get basically no say in who moves into your properties. It's a different mindset. You can focus on more important things. 

  • Member since 2022 · 7 posts · 8 votes
    1y

    Circumstances dictated the need to leave the house I was in, left northern KY for MSP when I got based there. Yeah I could have probably done things better but I needed to get a lay of the land in MSP before buying

  • Specialist · Cincinnati, OH · Member since 2026 · 32 posts · 4 votes
    3d

    Hi Peter, I saw your post about self managing your rentals while flying. I live in hebron I'm not a property manager, I'm on the field support for owners like you: I meet contractors, verify the repair is done, and send photos and video. Need any help in NKY or Cincinnati here to help.

    • Member since 2022 · 7 posts · 8 votes
      3d

      just saw this message, I would be interested in a conversation for sure. Sounds exactly like something I need.

  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    3d

    @Peter Bendorf Are you still renting or did you end up buying a property in MSP? Hopefully your flight career is doing good.

    My younger brother is at 1475hrs single, 35hrs multi, and accepted a first officer job with SkyWest Airlines. Almost certain they will have to move to another state which bums me out but that's the sacrifice.

    • Member since 2022 · 7 posts · 8 votes
      3d

      I ended up leaving MSP, currently based in ATL but looking at captain upgrades which could move me again.

    • Jaron WallingPro Member
      Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
      3d

      Dude that's amazing. Sounds like the REI has been tabled for a bit?
      Seems like my brother is 2-4 years behind you in his career. He was selected to fly the Embraer E175. They are looking at MSP, Denver, or Chicago but it's up in the air (literally). 

  • Brad SeidBusiness Member
    Lender · Licensed in 28 States · Member since 2026 · 161 posts · 46 votes
    1d

    @Peter Bendorf That’s a great start, especially growing to three properties while managing two yourself. If you’re looking to expand your portfolio in 2025, feel free to reach out. I’d be happy to connect and see if I can help with lending options for your next investment.

  • Member since 2017 · 40 posts · 18 votes
    8h

    Peter, before you hand it all to a PM, know that some won't take rent by the room at all, and the ones that do charge more for it. two things are what make rooms doable for me without being there.

    door codes instead of keys. each person gets their own code. it turns on when their move-in money is paid and shuts off the day their lease ends. nobody has to meet anybody to hand over a key, which matters if you're in the air that day.

    and each person on their own lease with their own bill, utilities split by the days they lived there. when one person moves out nothing changes for the rest of the house.

    turnover is still real work. but those two take out most of the back and forth.

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