The Super Bowl weekend goes into high gear in just over a week from now. Major sporting events like the Super Bowl often create demand for hotel rooms that outstrip the supply. Even with hotels charging a premium for such major events, they still have no problems booking them to full capacity. The Indy Star [...]
Marketwatch.com had an interesting article on tax implications from the income generated from a rental property as well as income generated from renting out rooms. The article mentioned receiving a “healthy tax deduction” even if you generated a loss, where the rental income didn’t cover the entire yearly expenses. This was the case with Linda, [...]
During the roommate search, most of us have used Craigslist to advertise our spare room. However, one of the major downsides of using Craigslist is the e-mails we receive from scammers. Although, the majority of us have been smart enough to look past these phony e-mails and avoid being scammed, there have been some inexperienced [...]
I know it’s already the second week of 2012, but it took me some time to reflect back on the past year to see what I’ve accomplished AND what I plan to do in the next year. Let’s begin with the accomplishments. This past year, in no particular order, I achieved the following: Found my [...]
Since the start of this blog, I’ve had numerous newbie “live-in landlords” e-mail me about various questions on renting out a room. Some of these people I’ve kept in touch with and some well… just fell off the map. Just out of curiosity, I took the initiative to reach out to these people that I’ve [...]
Obviously celebrating Christmas with your roommates depends on how well you get along with them. I don’t know how other “live-in landlords” celebrate during the holiday times with their roommates, but my current roommates are great! With that in mind, we’ve collectively decided to get a Christmas tree and do a gift exchange. We’ve a [...]
I wasn’t planning to get a tree this year, but one of my roommates suggested getting a tree and the other agreed.
So guess what! …
I receive e-mails on a daily basis on various questions, concerns, and thoughts related to renting out a room in your house. One particular comment I received from a newbie “live-in landlord” was: “…..for some reason the majority and most prospective of the interested renters are older than I had expected ( high 50′s to [...]
Renting out a spare room in your house has always been acknowledged as an admissible commodity to make some extra cash. I saw this CNN video and it really caught my attention. Rob Baedeker, a Newsweek contributor experiments with renting out various items from his life. Check it out -> Rentrepreneur Some of the notable items [...]
I received an e-mail this week from a reader feeling discouraged from the lack of responses to his roommate advertisement. His initial e-mail didn’t state how long his advertisements were online for, but after following up, his advertisements were “live” for about a week and half. Now, a week and half isn’t a terrible long [...]
I'm Mike, I rent out my spare rooms in my townhouse to roommates. So far, the rental income has allowed me to:
-Pay for Graduate School($34k education).
-Pay back my 30 year second mortgage within 6 years.
-Build a sizable emergency fund.
If you're motivated to make some extra cash from your spare room, please join my community and start here....
