All Forum Posts by: Wendy H.

Hi BP! It's our very first time screening tenants and have a question. We're running into a lot of applicants where they have older parent(s) that live with them, some who still work, some don't. Our current requirement is that everyone over 18 must meet the minimum requirements (700+ credit score, no evictions, clean criminal background, positive landlord references for past 10 years) but some applicants have been asking about the credit score part for their older parent(s). We're thinking that we should still look at the older parent(s) credit score but not sure if that's too extreme. What would you recommend?

@KB Collins Thank you for the input! 

@Chris Herrera Really really great points. I do think we'll hold long term but wouldn't hurt to reach out to some agents like you mentioned. Thank you!

Thanks @Account Closed, yes the existing three baths are all full baths, and the proposed fourth would also be a full. We would add the bathroom to a nook of the living room that is behind the kitchen walls. You wouldn't need to walk through the kitchen/living area, but it would be down the hall and the first thing you see before you go to the kitchen/living area. The house is ~2300 sq ft and we are thinking a 5' x 8' bath. Five bedrooms aren't the most common but also not rare either. We would be renting by the room hence better cash flow with the bathroom.

And thank you for the reminders any load bearing walls - we'll have the GC confirm. We will also definitely be having the contractor do plumbing/electric work.

Hi BP, I just had an offer accepted on my very first house hack in Bay Area, CA. This is a 5 bed 3 bath older SFR. We're starting to think about how we will update/add value to the house, and as part of the consideration, we're deciding between adding a fourth bathroom to part of the living area (better cash flow), or opening up the walls between the kitchen and living areas to create an open floor concept (forced appreciation). We still need to get a quote from the GC about how each would cost, and we will try to do as much of the work ourselves as possible.

Adding the fourth bathroom would lead to better cash flow, but we believe the open floor concept will add more value in terms of equity and forced appreciation. How would you go about making this decision? Anything we should consider? Thank you in advance!