Wow 100 people in the group. When I started this I thought it would be just a few of us odd balls doing rent by room and sharing what we learn along the way. I know most of this group is me posting things as they come up. I hope some of this group helps folks if they are interested in this strategy. Let me know if you wanted to see something in particular. Thanks all, Jarrod

Quick recap James and ReiJarrod discussed their experiences with real estate investing, focusing on operational challenges and strategies. ReiJarrod shared insights into managing properties using platforms like TurboTenant and PadSplit, while James detailed his transition away from PadSplit to a more automated system using Microsoft Teams for tenant communication. They explored the potential of adding extra units or converting existing spaces into ADUs to increase property value. ReiJarrod highlighted the importance of data tracking, sharing his experience of using ChatGPT to analyze tenant communications and operational hours. They also discussed tax strategies, including cost segregation and depreciation, and the implications of living in properties for tax benefits. James shared his goal of creating a redundant operational system to minimize personal involvement. Both agreed on the value of focusing on specific market opportunities and discussed potential future collaborations or visits.

https://www.youtube.com/watch?v=lyqgEeXKrR0

I know we have been here a few times. Mortgage rates are averaging 6%. If this drops a few more basis points I hope the mortgage rates drop to something below 5.9 and hit 5.8 or 5.7! :)

If you had access to an architect for setting up a rent by room what are some questions/suggestions you would ask for? My wife and I are adding some bedrooms and bathrooms but aren't confident in our eye for placement and how the general flow of our tenants would go. We are planning to operate this property for many decades. Rather than pay the stupid tax, we'd rather pay the professional education tax and formulate a repeatable system for our specific county and compound that knowledge into the next property. For reference: 1) the property is 4,200sqft with 5 be 3.5 bath and 1 office 2) 600 sqft 2 car detattched garage 3) hidden parking for 5 and street parking for 8 in a neighborhood that could get away with it for a little bit without upsetting the neighbors 4) oversized solar so any and all normal electric costs are locked in at $700/mon for 30 years. In this county we can legally have 8 unrelated tennants at a time. If you had a budget to do things slightly differently to better prep and streamline your operations, what things would you ask a professional architect?