All Forum Posts by: Harold Looney

Nathaniel Jennings - To avoid confusion and arguments, I include utilities in the rent I charge for our rooms. I've owned the property for several years, so I have significant amount of data to estimate the average monthly utility costs. I factor this expense into the rent increases.

@Vladimir Del Valle - I have a similar situation in Brooklyn NY. I own a 2-Unit Building that I rent by rooms. It allows me to earn more than a traditional rental and to offer housing to single working professionals who are not able to afford a studio/one bedroom apartment in this area.

I haven't found a Real Estate Agent who is willing to put the effort into properly screening the prospective Roommates, or a Property Manager who interested in small buildings. 

So I've setup my own screening/leasing processes using Spareroom.com and I use Angi.com to find handymen for repairs and maintenance. My biggest challenge has been finding a reliable plumber for the steam heating system in the building. 

I'd be interested to learn more about what the Private Investor Co-live and Thrive Management is offering. I'm not interested in selling my property, but would be open to discussing a Joint Venture.

@Jessica Dean - welcome back neighbor! I've house-hacked in Bayridge Brooklyn for 16+ years. I've also lived and invested in properties in the Midwest (Illinois, Michigan). DM if you want to connect.

@Jason Monge - welcome neighbor. I've house-hacked in Bayridge Brooklyn for over 16 years. DM if you want to connect.

 You are doing the right analysis. You have enough data to calculate the potential cashflow of your available options, so you don't have to use a "rule of thumb". 

The market will tell you if people are willing to pay more to have fewer tenants in the apartment. You can list the rooms at higher prices and see if there is any interest. If not, then lower the price as necessary.

Amity Word - How did you determine the range from $950 to $1300?

I look for room comps and amenities at Spareroom.com and https://www.padsplit.com/

Christopher Shei - greetings fellow Digital Nomad! I currently own a 2 Unit Building in Brooklyn NY that I rent by rooms. I keep a space available for myself to use when I visit there - when it is warm (lol).

Before COVID, I spent over a year staying in Airbnbs exploring different locations to invest. I was working some deals in Jackson MS that feel through during COVID. 

Because of the travel restrictions, I was introduced to the #VanLife Community and saw this as a tremendous lifestyle & business opportunity. I invested in https://www.kift.com/. I discovered that I was not aligned with their changing strategic direction.

Have you heard of https://www.padsplit.com/. They offer weekly room rentals. They started in Atlanta and are rapidly expanding across the country.

Padsplit even offers Turnkey Properties for Passive Investors. My business partner and I are Private Lenders in the Padsplit Vendor Network. 

Would love to connect to discuss opportunities to collaborate. 

Robert Payne - congrats! Sound like your girlfriend is a keeper (lol)

Does the RV parking spot also include water/electrical/sewer hookups?

Michele Granata - congrats on your House-Hack! I've house-hack in various locations for almost 40 years, include the past 16 years in Brooklyn NY. DM if you want to connect.