NFT: Question about renting out a house

Probably something like bigpockets if that is the right name.

In essence its common to own and rent a room to a roommate. You may be interested in a concept called house hacking. Mi have no experience with it but it seems close to this topic.

from a renters perspective they'd rather have their own place. From your perspective, I don't think its weird but you do limit your market by living under the same roof as your renters.

just wondering if that was ever done before or well more common.

Also: Where do people usually stay when they have two pieces of property? Is the house they're renting out the cheaper or more expensive option?

If I ever did live alone (it might be looking that way very soon) it would be nice to have tenants to keep the house going so I didn't have to worry about a steady income, if that's at all possible.

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I rented an apartment in a house where the owner's daughter and her husband lived. The apartment was reasonably priced, but market rate, and it worked out fine.

really rent out homes. I find an old person on the street and tell them I'm with the bank and I'll foreclose on their house unless they fork over their life savings.

Get a few of those old codgers to fall for the stunt and it is FREE money!!

With money like that, there's no need to rent a house out. already have cash to cover it. And then some!!

Fuck old people!

no problem with you living there. Done this plenty of times before relocating the family. But moving a family in, get your shit out.

another option is finding at least semi-private entrances, where you aren't sharing a lot of the house. We're grown adults, not college roommates.

the other personal peeve - here's the house, but I get to keep access to the garage/shed/barn. yea - no thanks. IMV, you have no need to come into "my home" unless I need maintenance or inspection.

In comment 14015269 Gatorade Dunk said:

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He's trying to find a good housing situation when he gets out in the next 5-10 years.

I have represented clients who have owned multi-family homes with multiple entrances who have lived in part and rented part. For the Landlord it is helpful because they can keep an eye on what happens, but it does ultimately limit the pool of renters because not all Tenants are comfortable with that especially if the Landlord is the type of person who comes in unannounced all the time. If Landlord owns multiple one family properties in the same neighborhood it will likely depend on the Landlord's preference (some prefer staying in the nicer home, some do cost/benefit analysis about which can produce more net rental income after taking into account tax breaks that may only be available on a primary residence)

for a lot of the brownstones and townhouses.

Not sure what that other useless garbage those other guys were yapping about...

In comment 14015269 Gatorade Dunk said:

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What does my dad got anything to do with renting out a house? Are you an idiot or something?

I was thinking of relocating to a cheaper town and I couldn't help but notice some very very nice apartments above the landlord in home style buildings and not complexes for less money.. but I smoke pot and I'm weary of telling the landlord downstairs.. I wonder if he's allowed to come up when I'm at work? Etc..

The pros are the pproperty is bigger , better kitchens and the landlord is assumed to be great quiet neighbors (id hope?)

The cons are just privacy that's it

In comment 14015217 Aqua Giants said:

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Also: Where do people usually stay when they have two pieces of property? Is the house they're renting out the cheaper or more expensive option?

Is this a real fucking question? On a football message board no less?

Answer: Whichever one you want to live in, whichever property you think will fetch you the best rent yield / ROI, and/or whichever one fits your budget.

Never have rented out a house before so I am trying to get as much information about the process as possible.

the nicer house to the renters, but get more money?

Option B: Live in another house and rent out the other so you have two pieces of property. I dont know what other people do.

Has a tenant. They have the walkout basement finished like its own apartment — has its own entrance, full bath, kitchen, etc. Have had the same tenant for over a decade.

You’d want something like that I would think. Sounds like for you you might want to occupy the apartment side of it and rent the bulk of the house. But either way, I would say for the benefit of both sides you’d want to establish a similar situation that established clear boundaries.