How renting out rooms can maximize CASHFLOW

In this video I will cover the benefits of renting out the individual rooms from your home or investment property. This is a great way to increase cashflow, protect against vacancy, or just live rent free (aka house hacking). I used this method to grow my portfolio quickly and have been able to acquire 11 properties since 2017. We'll cover the pros and cons of renting out rooms and offer practical advice on how to get started. In this series we are going to cover the benefits and drawbacks, offer Do's and Don'ts, and even show you how to screen for tenants. Also known as "rooming houses", we are going to show you how to take advantage of this niche market so that you can achieve great results and run a profitable business. Pros Great opportunity to gain cashflow and appreciation on a single family home You can live in one unit and rent the other 3 (live for free by house hacking) Offers great vacancy protection (bills are usually covered by 2-3 tenants) High appreciation Can be easily converted back to a single family rental or sold Cons Tenants (sharing common areas, parking, turnover, drama) Expenses(tenants don’t usually pay utilities) Repairs (Wear and tear on the property - imagine a washing machine running for four adults instead of one family)