All Forum Posts by: Alexander Hang

My experience with renting out rooms for 7 years or so has been very good. My house was 4 beds 3.5 baths. I was renting 3 bedrooms lived in one. I noticed the large living rooms were not being used. So so I turned 2 living rooms into bedrooms. Benefits: more money, less vacancy as it's unlikely all 3 leave at same time. And free education. I learn to be a better property manager. Learn to take good care of property. Learn to be a better person. Learn to be a servant. My tenants (all 5 girls) are LAZY. Disadvantages: it's more time consuming than renting out to a family. If you rent $500 a month room, you'd get $500 a month tenants. Tenant section is key. Good luck

This is my first rental. I really appreciate any advice.

I just won a bid for a HUD house. 2200 sq feet one story house 5 beds and 3 bath and one kitchen for $140,000. The house has 4 entry doors. Neighborhood has a mixture of single and multi family houses. My house payment would be around $900.

My question is can I (or should I) split the house into 2 units by building a wall? I would have to build kitchen for one unit. I don't want to separate the plumbing, electric, HVAC as it would cost too much. If I split the house like that I would have to include electric and water, cable and internet to rent. I'll going to city to a ask. But I'd like hear your thought on it first.

My other option is I'll build a another bedroom by building walls in one of the large living room. Making it 6 bedroom house. I would rent the rooms for $450 each. I have About 7 years of experience in renting out 5 bedrooms in my house ( I live in 6th room). I know renting out rooms in house I don't live in is much harder. I'm thinking I'll pay one of the tenant $200 a month to clean and manage it.

Thank you in advance for an advice.

Alex