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Should I buy a duplex and live in one of the units (househacking)?

or take a more hands-off approach by getting a SFH and letti...
Boyish henna property
  10/19/21
Worst thing you could ever do ime
marvelous naked box office
  10/19/21
why brah? the other unit cucks would pay down my mortgage
Boyish henna property
  10/19/21
or they may make your life hell. 50/50
Violent Mint Ape Base
  10/19/21
Go for it then. I would personally rather throw myself into ...
marvelous naked box office
  10/19/21
what if i never tell them im the landlord? how meta would th...
Boyish henna property
  10/19/21
then you have to hire a property manager / rental agent
Violent Mint Ape Base
  10/19/21
that might be the play tbh. 10% is nbd if that's what they'...
Boyish henna property
  10/19/21
Pretty easy if you're a good liar. Just form a LLC to ow...
floppy crawly resort electric furnace
  10/19/21
anyone w a 100 iq can google the owner of the LLC
Violent Mint Ape Base
  10/19/21
Totally not true. You only have to disclose the manager. Not...
floppy crawly resort electric furnace
  10/19/21
does this depend on the state
Violent Mint Ape Base
  10/19/21
...
territorial chestnut heaven
  10/19/21
Sort of, but in every state I've done LLCs in -- which is pr...
floppy crawly resort electric furnace
  10/19/21
how many people are googling property company's llc?
territorial chestnut heaven
  10/19/21
prole tenants paying less than $2k are not googling owners b...
Razzmatazz preventive strike chapel
  10/20/21
i've had people explicitly recommend doing this. they've sai...
territorial chestnut heaven
  10/19/21
they're still going to come bitch to you about everything if...
Violent Mint Ape Base
  10/20/21
being a landlord and having your tenants live on your proper...
Violent Mint Ape Base
  10/19/21
fair
Boyish henna property
  10/19/21
yes, but you can monitor your trash tenants closely
angry business firm therapy
  10/20/21
why not just be a prison guard
Violent Mint Ape Base
  10/20/21
If you buy a property that's in decent shape and the tenant ...
floppy crawly resort electric furnace
  10/19/21
yeah fug cities man. what about college towns?
Boyish henna property
  10/19/21
Renting to college students is A LOT more work, but may be w...
floppy crawly resort electric furnace
  10/19/21
How feasible is it to have sex with female college tenants i...
rambunctious lascivious deer antler address
  10/20/21
is it legal to put hidden cameras in all the bedrooms and ba...
Violent Mint Ape Base
  10/20/21
yes, at least in New York State this is not legal advic...
rose office
  10/20/21
I own / rent out two apartments. Both are within a 10 minute...
floppy crawly resort electric furnace
  10/19/21
interesting. do you personally interview/screen your tenants...
Boyish henna property
  10/19/21
Will respond later.
floppy crawly resort electric furnace
  10/19/21
I did 1 year of biglaw right after law school making ~$160k ...
floppy crawly resort electric furnace
  10/19/21
...
Zippy green genital piercing
  10/19/21
18000 tyft
Boyish henna property
  10/20/21
amazing poa/moniker synergy
ruby concupiscible library background story
  10/19/21
My house has an in-law suite with a separate entrance that I...
embarrassed to the bone spot
  10/20/21
interesting, ty
nighttime hyperactive lay place of business
  10/20/21
5 seems like complete flame. what type of person just aimles...
territorial chestnut heaven
  10/20/21
nobody who posts, that's for sure
nighttime hyperactive lay place of business
  10/20/21
5 is fucking brilliant and you won't get sued for discrimina...
bateful house dingle berry
  10/20/21
This is in a very desirable part of a city with a shortage o...
embarrassed to the bone spot
  10/20/21
ah ok, that makes sense. i nearly put a disclaimer in about ...
territorial chestnut heaven
  10/20/21
agreed. plus, putting out a sign doesn't just capture people...
Violent Mint Ape Base
  10/20/21
How careful do you have to be in selecting tenants if you on...
Duck-like feces
  10/20/21
Yes but only if you can pre-arrange for the tenant in the un...
obsidian plaza degenerate
  10/20/21
seems like second best investment to crypto. and if you only...
Razzmatazz preventive strike chapel
  10/20/21


Poast new message in this thread



Reply Favorite

Date: October 19th, 2021 8:44 PM
Author: Boyish henna property

or take a more hands-off approach by getting a SFH and letting a property management company handle it? i'm kind of scared of being a landlord tbh. seems dangerous like a parole officer

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298680)



Reply Favorite

Date: October 19th, 2021 8:44 PM
Author: marvelous naked box office

Worst thing you could ever do ime

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298683)



Reply Favorite

Date: October 19th, 2021 8:45 PM
Author: Boyish henna property

why brah? the other unit cucks would pay down my mortgage

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298686)



Reply Favorite

Date: October 19th, 2021 8:47 PM
Author: Violent Mint Ape Base

or they may make your life hell. 50/50

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298696)



Reply Favorite

Date: October 19th, 2021 8:47 PM
Author: marvelous naked box office

Go for it then. I would personally rather throw myself into an electric fence.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298698)



Reply Favorite

Date: October 19th, 2021 8:48 PM
Author: Boyish henna property

what if i never tell them im the landlord? how meta would that be.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298702)



Reply Favorite

Date: October 19th, 2021 8:50 PM
Author: Violent Mint Ape Base

then you have to hire a property manager / rental agent

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298714)



Reply Favorite

Date: October 19th, 2021 8:53 PM
Author: Boyish henna property

that might be the play tbh. 10% is nbd if that's what they're going for

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298722)



Reply Favorite

Date: October 19th, 2021 8:54 PM
Author: floppy crawly resort electric furnace

Pretty easy if you're a good liar.

Just form a LLC to own it and tell them you're an on-site property manager.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298733)



Reply Favorite

Date: October 19th, 2021 8:58 PM
Author: Violent Mint Ape Base

anyone w a 100 iq can google the owner of the LLC

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298763)



Reply Favorite

Date: October 19th, 2021 8:59 PM
Author: floppy crawly resort electric furnace

Totally not true. You only have to disclose the manager. Not the member.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298767)



Reply Favorite

Date: October 19th, 2021 9:20 PM
Author: Violent Mint Ape Base

does this depend on the state

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298846)



Reply Favorite

Date: October 19th, 2021 9:23 PM
Author: territorial chestnut heaven



(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298859)



Reply Favorite

Date: October 19th, 2021 10:18 PM
Author: floppy crawly resort electric furnace

Sort of, but in every state I've done LLCs in -- which is probably around 35 or something, only Manager is disclosed. You can just have two LLCs managing each other or there are plenty of services that will be the manager for privacy purposes.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43299130)



Reply Favorite

Date: October 19th, 2021 9:24 PM
Author: territorial chestnut heaven

how many people are googling property company's llc?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298863)



Reply Favorite

Date: October 20th, 2021 2:19 PM
Author: Razzmatazz preventive strike chapel

prole tenants paying less than $2k are not googling owners behind LLCs like they're investigating the pandora/panama papers

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43302232)



Reply Favorite

Date: October 19th, 2021 9:23 PM
Author: territorial chestnut heaven

i've had people explicitly recommend doing this. they've said once they figure out you're the owner they come bitching to you about everything. you can just claim you're the property manager.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298857)



Reply Favorite

Date: October 20th, 2021 2:35 PM
Author: Violent Mint Ape Base

they're still going to come bitch to you about everything if they think you're the property manager. that's why it seems better to just act like you're a tenant and have a real property manager deal with the tenant. of course, that costs $$.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43302322)



Reply Favorite

Date: October 19th, 2021 8:45 PM
Author: Violent Mint Ape Base

being a landlord and having your tenants live on your property is super prole / foreigner

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298684)



Reply Favorite

Date: October 19th, 2021 8:47 PM
Author: Boyish henna property

fair

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298697)



Reply Favorite

Date: October 20th, 2021 10:23 AM
Author: angry business firm therapy

yes, but you can monitor your trash tenants closely

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43300937)



Reply Favorite

Date: October 20th, 2021 10:45 AM
Author: Violent Mint Ape Base

why not just be a prison guard

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301082)



Reply Favorite

Date: October 19th, 2021 8:46 PM
Author: floppy crawly resort electric furnace

If you buy a property that's in decent shape and the tenant is not insane, being the "landlord" will only take you 2-3 hours a year.

It helps a lot if you're not in a city with rent control and you can evict your tenant at basically any time.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298688)



Reply Favorite

Date: October 19th, 2021 8:47 PM
Author: Boyish henna property

yeah fug cities man. what about college towns?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298693)



Reply Favorite

Date: October 19th, 2021 8:47 PM
Author: floppy crawly resort electric furnace

Renting to college students is A LOT more work, but may be worth it since they often pay a premium.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298699)



Reply Favorite

Date: October 20th, 2021 10:15 AM
Author: rambunctious lascivious deer antler address

How feasible is it to have sex with female college tenants in lieu of collecting rent?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43300892)



Reply Favorite

Date: October 20th, 2021 10:24 AM
Author: Violent Mint Ape Base

is it legal to put hidden cameras in all the bedrooms and bathrooms for "security"?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43300944)



Reply Favorite

Date: October 20th, 2021 10:54 AM
Author: rose office

yes, at least in New York State

this is not legal advice.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301133)



Reply Favorite

Date: October 19th, 2021 8:50 PM
Author: floppy crawly resort electric furnace

I own / rent out two apartments. Both are within a 10 minute walk of where I live. Between the two of them, I MAYBE have to deal with some random maintenance item once per year.

The two apartments are both in the ~$1mil range and rent for the $5,000 range. Accordingly, the tenants are responsible YUPPIE types. Since they're both guys they pretty much take care of anything that comes up themselves.

It's a different ballgame if you're renting some shitty appartment that's falling apart for $800 to some prole.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298708)



Reply Favorite

Date: October 19th, 2021 8:55 PM
Author: Boyish henna property

interesting. do you personally interview/screen your tenants? how much $$$ did you start with when you got into real estate? also any beginner pitfalls to avoid?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298743)



Reply Favorite

Date: October 19th, 2021 8:59 PM
Author: floppy crawly resort electric furnace

Will respond later.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43298765)



Reply Favorite

Date: October 19th, 2021 10:13 PM
Author: floppy crawly resort electric furnace

I did 1 year of biglaw right after law school making ~$160k all in and living like I made $40k. Also had ~$20k or so saved from my SA summer.

I bought my first apartment right before I left biglaw for ~$5-600k.

A few years later I refinanced that.

About a year later I bought a second appartment. Lived in the second and rented out the first.

I few years later I refinanced the second place.

About a year later I bought a third apt and rented out the second.

I'm going to buy a 4th at somepoint soonish. I will rent out the place I currently live in.

One tenant is a friend who is a chill YUPPIE bro. The other is a random chill YUPPIE finance bro from Facebook or something. Both are super low maintenance. I don't even pay attention to whether they pay their rent.

I didnt really make any mistakes, so I don't have any special learned-wisdom to drop on you.

I like my strategy because the ratio of dollar-value to # of tenants is very high. Plus since they're both small apartments, there is basically no maintenance.



(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43299114)



Reply Favorite

Date: October 19th, 2021 11:19 PM
Author: Zippy green genital piercing



(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43299557)



Reply Favorite

Date: October 20th, 2021 10:36 AM
Author: Boyish henna property

18000 tyft

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301018)



Reply Favorite

Date: October 19th, 2021 10:20 PM
Author: ruby concupiscible library background story

amazing poa/moniker synergy

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43299133)



Reply Favorite

Date: October 20th, 2021 2:06 AM
Author: embarrassed to the bone spot

My house has an in-law suite with a separate entrance that I’ve rented out for a few years. I haven’t had any problems (knock on wood), but I was very patient about waiting to find the right person and it took about 8 months before I found them. Some tips:

1. From a noise standpoint, living above them is ideal. You don’t want to hear them walking above you or hear their music coming through the walls.

2. Your ideal tenant is a single white woman who is 35+ and has no kids. It’s best if the unit is not too nice because you don’t want them hosting people / having dinner parties.

3. Do not allow any pets. Not even cats.

4. Use smartmove or something similar to do a background and credit check. Get their rental history. You want someone who is prone to staying in the same place.

5. Advertise with a yard sign only. You will get a better class of people calling you because they will be the ones who get off their asses to look for an apartment in an area where they want to live. People who respond to online ads are generally lazy and you will get a ton of calls asking if you take section 8 that will make you paranoid that you are being targeted for some kind of housing discrimination complaint or expose.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43300082)



Reply Favorite

Date: October 20th, 2021 10:09 AM
Author: nighttime hyperactive lay place of business

interesting, ty

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43300875)



Reply Favorite

Date: October 20th, 2021 10:16 AM
Author: territorial chestnut heaven

5 seems like complete flame. what type of person just aimlessly meanders around neighborhoods looking for yard signs?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43300904)



Reply Favorite

Date: October 20th, 2021 10:50 AM
Author: nighttime hyperactive lay place of business

nobody who posts, that's for sure

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301111)



Reply Favorite

Date: October 20th, 2021 11:01 AM
Author: bateful house dingle berry

5 is fucking brilliant and you won't get sued for discrimination. edit, lol he explicitly said that.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301179)



Reply Favorite

Date: October 20th, 2021 3:45 PM
Author: embarrassed to the bone spot

This is in a very desirable part of a city with a shortage of rental units. Lots of houses are rented out by independent landlords who only own a handful of units, so it’s well known that driving around and looking at signs is the best way to find something if you don’t want to live in a large corporate owned building. Most independent landlords find that advertising online is a waste of time because of the quality of people responding.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43302736)



Reply Favorite

Date: October 20th, 2021 3:47 PM
Author: territorial chestnut heaven

ah ok, that makes sense. i nearly put a disclaimer in about "unless you're in some really busy part of a city or something"

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43302745)



Reply Favorite

Date: October 20th, 2021 4:09 PM
Author: Violent Mint Ape Base

agreed. plus, putting out a sign doesn't just capture people driving around. it allows people in the neighborhood to share the listing with friends/acquaintances they know are looking for a place.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43302853)



Reply Favorite

Date: October 20th, 2021 10:53 AM
Author: Duck-like feces

How careful do you have to be in selecting tenants if you only want yuppies or single white women over 35 with steady incomes?

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301118)



Reply Favorite

Date: October 20th, 2021 11:02 AM
Author: obsidian plaza degenerate

Yes but only if you can pre-arrange for the tenant in the unit below you to enter into a sex-slavery relationship with you.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43301185)



Reply Favorite

Date: October 20th, 2021 2:22 PM
Author: Razzmatazz preventive strike chapel

seems like second best investment to crypto. and if you only own 1 multifamily property, how much work can it be if it's not section 8 etc.

(http://www.autoadmit.com/thread.php?thread_id=4945605&forum_id=2#43302250)