All Forum Posts by: Derek Hilley

This is a very helpful post. I'd like to ask a question that will, when answered, will make this the comprehensive thread of mailboxes with duplexes.

I am in the opposite situation as the above posters. We just purchased a live-in flip that was originally a SFH, then was converted into a duplex, and we are converting it back into a sfh. It has two mailboxes.

It sounds like I can just remove one of the mailboxes. Does anyone have any experience with this?

Just learned about this. I'll be there!

We only want one more vacation rental right now because there's a decent amount of work that goes along with it. Right now, we can't handle two. Thoughts on my original question?

My question is about the strategy of purchasing a duplex with the intention of using one unit as a short term rental because it's close to my current home. It's not a great deal otherwise.

Traditional financing.

I'm worried that I won't be able to sell the property if needed, since I won't be buying it with any equity.

Hi,

Thanks in advance for reading this. I own a duplex, and live in one half and airbnb the other half. It does great. I am thinking about purchasing a second duplex that's close to my home and renting one side long term and the other side as an airbnb. One side is currently rented for $100 below market on a month-to-month basis, and the other side is vacant. If both sides were rented at market rates each unit would cash flow $155, for a total of $310. However, I have some experience now in vacation rentals and know that I could make hundreds more by putting in the work and using it short term rentals. Atleast $1,500, and probably more like $2,500. I'm only hesitant because I will not purchase this property with equity in it. The new duplex is close enough that I could manage them both. That's what I like most about it. Thoughts?

I haven't made a meet up yet, but I hope to make the January meeting. I'm looking forward to it.

Jonathan,
Good for you. Sounds like you're doing all of the right things. I am house hacking in Chattanooga, and I found my deal on hudhomestore.com. It's the HUD website. I run the numbers on almost every Hamilton County property, and maybe 25% of them could make sense for an investor.These are also on the MLS, I think, though. I actually just checked it and there's not jack on there right now. I would also highly recommend the realtor that I used for my property. She is very professional, and her husband is an active investor. I didn't really know what I was doing my first time around, and they really guided me in the right direction. Her name is Deanna Lindsey. PM me and I'll see if I can send you her contact info. BP just kicked back my post because I tried to give you her phone number.

Best of luck!

Wow. Thanks for the responses. I'm actually meeting with an investor next week. I already plan on asking a few questions about local areas, potential lenders, agents, contractors, and property managers. Any other tips on what questions to ask?