All Forum Posts by: Simone Montague-Jackson

Hey everyone, 

I'm a novice investor and would like some advice. 

I got my first property near Austin and house hacked for 2 years. I went through some financial issues, but I was able to pay a third of my mortgage, get excellent tenants, and gain experience as a landlord. 

I finally rented out the entire place by the room, but I've incurred a couple of issues:

- My mom stayed with me temporarily, which wasn't planned. Unfortunately, this led to a conflict with one tenant and some personal matters being shared with another.

- I didn't have time to make improvements like I wanted so there were a few other problems when the tenants moved in: fire ants, some spots on the carpet, and some walls need to be painted. Nontheless, I ensured the place was livable and fixed major issues such as better ventilation, garbage disposal, balanced the patio deck, fixed the shower head in the bigger bedroom, and others.

- Two tenants currently aren’t getting along. One of them, who lived with me previously, keeps informing me about the conflict. However, I’ve made it clear in the roommate agreement that interpersonal issues should be handled among themselves unless there’s an emergency.

I’ve learned a few hard lessons already:

- I should've established an LLC, created a separate business bank account, and used a business email and phone number.

- I should’ve built in more time for property prep and set stronger boundaries upfront

That said, I’m taking steps to improve. I’m using property management software for maintenance requests and messaging, which I've been using the entire time, and I’ve set clearer boundaries with tenants. However, it’s only been three weeks, and I’m already feeling overwhelmed.

I’m still committed to managing the property, but I’m considering finding a leasing agent to help advertise the rooms (I’ve been relying on Facebook so far).

If anyone has advice—on marketing, stress management, tenant conflict resolution, or just navigating the early stages—I’d greatly appreciate it. I’ve gone through a lot since moving back to the States, and while I made mistakes, I’m eager to learn and grow from them.

Hey Justin, 

My property is near medical facilities, so I've thought of short-term rentals during periods where vacancy is a possibility. Been learning a lot from this experience, and I love everyone's input as well. I'm new and open to learning from everyone. 

I’m renting by the room because it’s the most effective strategy for me compared to renting out the entire house. After consulting with my realtors and doing an analysis, we discovered that it typically takes a year to rent out an entire home in my area. In contrast, renting by the room has proven to be a much quicker process.

I’ve also been living in the house while renting out rooms, so I have firsthand experience in managing and screening tenants. This has helped me become more confident in handling different situations, which is something I wouldn’t have if I hadn’t had that experience. Renting by the room also makes it more affordable for tenants, as the rent per room is lower compared to renting out the entire house. The market value for a whole home in my area is lower than what I would charge to cover the mortgage, especially when compared to newer communities like Sunfield, which can command higher rents due to their amenities.

Thank you for your input! I truly appreciate all the advice and will take it into account when considering my rental strategy. However, renting by the room is the strategy I’m most familiar with and have had success with. I’m also requiring all tenants to get renter's insurance and I’ve been carefully researching different landlord insurance policies. After speaking with my lender, realtors, and other property managers, I believe this is the best fit for my situation.

Thanks again for your thoughtful responses – they’ve been really helpful!

I've checked out padsplit and ran into some issues because my city wasn't listed, but I spoke with a rep who informed that isn't true. However, he informed me that I need to turn my 3/2 into a 4/2 somehow with renovation to earn more money. So, that put me off a bit. 

Hey everyone, 

I'm renting out my entire house, but I wanted to try and rent out the space myself to save on property management costs since the rental rate I wish to charge is a bit higher than the rental rate area. So, my plan was to rent out each room and use an online property management platform. But I feel this might be harder than I thought because within our current market, I'm not attracting tenants like I used to (This could be due to mostly using Facebook to advertise my house). 

I'm currently in Austin/Buda area and want to know if there are any property management companies that deal with separate tenants OR someone who is managing their properties on their own and using other methods to attract tenants. 

I'm open to both and truly need help because I'm unsure what's going on. Just feeling lost and need some help. 

Thank you BP community. 

Hey there, 

Thank you for the information. I tried using PadSplit, but it doesn't operate in my area. Otherwise, I would definitely use it. 

Hey everyone, 

I'm located in south Austin, TX and planning to rent and manage my first property by the room instead of the entire house because the rental rate I wish to charge is higher than the average rate in the neighborhood where my property is located. 

Currently, I plan to get landlord insurance, require renters to get renter's insurance, and make some minor improvements and repairs in the house before fully moving out. 

I'd like advice on the best way to manage my property (I will use Innago for collecting rental payments), obtaining landlord insurance, tax write-offs, and maintenance. 

Thanx BP community :)

Hey everyone!

I’m currently house hacking and planning to buy my next property in about 6 months. However, I’d like to have a space of my own before living with others again (I plan to house hack again with my next property).

I’m seeking advice on how to move forward, as I need to consider things like utilities, taxes, landlord/umbrella insurance, and managing the property, especially with someone renting my garage.

Specifically, I’m curious about renting out individual rooms and living on my own for a little while. Nothing is set in stone yet, so I’m open to suggestions on how to navigate this situation.

Thanks in advance, BP community!

The podcast is called "all-in"?