All Forum Posts by: Paris Scroggins

How should the utility bills be split up while you're house hacking a sfr and after you move out and move another tenant in?

@Mark Taylor that's awesome! I was hoping to rent out a house I've been looking at as a primary residence. The basement is pretty nice and already has 2 separate rooms. I planned on sharing the chicken space and just turning one room into a living area and the other into a bedroom with a full bath. To do this, I was thinking about what I would need for a minimal in renovating; walls, flooring, etc.

@Sean McKenna thanks for the heads up! I don't plan on doing a whole lot of renovating to make this a 2 unit home. I still want to keep it an sfr because it works better for my budget. The tenant and I would still share the same kitchen but the houses I looked at have their own fill bathrooms in the basement which gave me the idea. Do you think this is something worth house hacking? Or should I just continue to save to purchase a multi unit? With the financing I'm using currently, a sfr is more affordable than a multi unit.

@Joshua Foch the lighting! I didn't even think to have dinner switches. Thanks for the advice! I want any home I decide to house hack to be as inviting as possible and lighting could definitely help that!

@Marc Winter i know that insurance would be a factor but do you think it would change drastically if my home still qualified as a sfr? I figured renting out the basement may change things but would it be a huge difference if I kept my residence sfr?

@James Mc Ree I was looking to just rent out the basement and share the kitchen area. The basement is already divided into 2 parts, one with a full bathroom. I was hoping I wouldn't have to renovate much do would understand the need for some touching up (dry wall and maybe flooring). Doing this and just sharing the kitchen area would be more friendly to my budget. Do you think it's still a worthwhile venture?

We're currently in the market for a primary residence with a basement to turn into a rental space. I was looking for advice on how to accomplish this. There's tons of unfinished basements in my area. What would make it a good rental for a tenant?

We're currently in the market for a primary residence with a basement to turn into a rental space. I was looking for advice on how to accomplish this. There's tons of unfinished basements in my area. What would make it a good rental for a tenant?

@Derek Hamilton for understanding how much you can rent or sell a property I love using Zillow. If you know your criteria you can see what it's going for in any part of a City. It also lists fsbo properties which a lot of other apps do not. I also recommend using a county's gis website. I use these sites to see what the local taxes are for a given property. You also get to see owner info with this as well since it's public record. Hopefully those tools will give you a good start.

@Derek Hamilton well that's a little ways from me. I would have to do some research but I've heard of investors doing really well in the area due to the cheaper prices.