(Obviously, positioning it as a "room for rent" will come with a lower price tag since folks would be expecting a private room, not a private unit.)Eventually we will pursue full conversion of the rec room into its own unit through SB9, but that will take quite a bit more time and money.

Some conversations suck, so have them while keeping in mind you have no idea what the other person might be going through.

Don't take a local realtor or Property Managers word for it unless you can have an informed conversation with them about how they came up with those projections. 

The 1% rule still works in the sense that you could buy a $100k condo and rent it for $1000/month, but does it cash flow is a whole different conversation. 

It's not uncommon for people to try for money grabs with landlords- Just had this conversation the other day with a friend of mine just getting in the game, same situation. 

They bought real buidings - shopping centers, hotels for condo conversion, etc. 

(The One Brokerage)I had a brief conversation Monday with another lender, but I haven’t had any follow up.

Franklin, you started this conversation on Step #3 or #4, skipping the two most important questions.

Real conversations.

Think of it this way - there are millions of Biggerpockets members, podcast listeners, and Youtube subscribers who are actively investing - BUT THEY DON’T HAVE A REAL ESTATE LICENSE LIKE YOU DO.That’s where you come in - we need rockstar agents like you to connect these leads that are ready to go and want to work with you specifically.If you’re interested in learning more about receiving leads from BiggerPockets or know someone who’s interested, just send me a message and we can start a conversation to see if it would be a fit for you.Or, just message me if you want to talk more about it.Happy Deal Hunting!