All Forum Posts by: Nick Ragland

I use venmo but will be switching to cozy next month.

@Nicolas Biangel Thanks for the information. Since you're opting out of the Homestyle loan because of GC requirement/lender approval, what type of loan are you deciding to go with? 

@Tim Johnson Thanks for the update Tim, I will look into it.

@Nicolas Biangel I'm also interested in using Fannie Mae HomeStyle loan for my second property and first BRRRR. Any information or advice is greatly appreciated. Looking to purchase in the next 3 months. Thanks!

@Sue K. Thanks for your input Sue, I like the idea of 4 month lease along with testing utility billing.

@Jonathan R McLaughlin Thanks Jonathan, I appreciate the input. I did all the work myself and its up to code. I will talk with insurance and look into potential options to convert to legal 2 fam.

@Aaron K. Thanks for your input Aaron, I appreciate it.

Hi BP,

I converted my SFH into 2 units a year ago. I've been house hacking one side and I'm renting out the other side. I'm considering fire dwelling coverage or "landlord insurance" to protect myself in the event tenants start fire, flood, lost rental income, ect. My insurance agent is under the impression that I just have roommates and the house is still a Single family dwelling. What language do I use when speaking with agent? Your advice is greatly appreciated.

@Frank Geiger Thanks Frank!

Hi BP,

I currently have a duplex that I’m house hacking. My tenants 12 month lease is up 2/2/2020. I gave them a 90 day notice saying that I’m willing to offer another 12 month lease. Adjustments include:Increasing rent from $1800 to $1980. Splitting the electric and water bill by number of tenants (right now they’re paying $250 flat rate for water and electrical for 5 people. I realized early in their tenancy that this was a mistake on my part. The first electric bill after they moved in was $790 for 2 months. Water consumption was also very high. They are asking if they can extend lease 4 months to the beginning of June. Should I charge a monthly premium since they want to go month 2 month? I also feel like having the lease end in June would be much better than February and could make it easier to fill vacancy. They haven’t missed a payment and are respectful.Any suggestions would be appreciated!

@Roi Mordechai lahini   Thank you, I appreciate it Roi.