All Forum Posts by: Marc Middleton

Plenty of Triplexes and quads out there...like they said , the numbers have to allign but the key is not getting too greedy or you'll never find one. if you can live there for free or under $500/month, then jump on it. Don't hold out for a 9-10 cap because it won't happen! ;-) 

Then you're going to need a buyer's agent to help you be the eyes on the ground. 

Send me the details/rent/expenses please through a PM. 

Thank you!

Some schools have their own proprietary book and then some schools all use the same Apprentice/hill or whomever publishes books in your region. 

Hard work man...Calling your sphere, call arounds for other listings, door knocking, open houses, networking events, social media, forums like these, etc etc. 

Save your money too, don't buy stupid leads on Realtor.com/Zillow/Trulia/Homes.com, etc. 

No, definitely not. Almost 99% of AirBnB in Miami/S Fla is breaking some sort of law (local or state or HOA), not to mention violating terms of their insurance or mortgage.

FYI: Renting out apartments/condos/bedrooms, etc for a profit is illegal In most states as well as condo associations. Even if you are in a true apartment building, not a condo, I'm sure they have regulations against it. 

Have you done a search of your building on AirBnB to see if there are other listings? You could get design & pricing tips there.

Usually for South Florida not far from the ocean, a bedroom will rent for $50-$80/night and higher on weekends or special event. I would target the $75/night price if you furnish it nicely and it has its own private bath. IF the bath is in the hallway, then it might rent less so you'd have to price it accordingly. 

If you're going to give your tenants access to the amenities with a Key Fob, remember you are responsible for anything they might do. Make sure you screen out the weirdos when possible! (profile, find them on facebook, etc.)

Good luck!

 Well anything an owner lives in would be called that. But to 'hack' a house, would be to rent out all the rooms. 

sounds about right.

And I'm new to this 'house hacking' term -no one in real estate (at least in Florida) uses it unless its a Bigger Pockets member or millennial, but from what I gather, to house hack is to buy a home and then rent out the bedrooms to offset your mortgage. Just buying a duplex and living on one side isn't a real 'hack', its what you are supposed to do with a duplex. 

Well living with 3 other people in a 4plex isn't for everyone. Unless you can get a house with a triplex in the backyard (I just saw one pop up in central for Miami for about $850k). 

A duplex will usually give you a private yard and/or private parking. A 4 plex usually has people living on top or below you, plus there is more maintenance. 

But your mortgage payment will be next to nothing if you can stick it out for 1-2 years until the next one!