Before You Buy Your First Rooming House!
Are you considering getting into Rooming House Properties to up your cash flow? Before you start you want to read this all new guide and learn the basics of rooming houses!!
I go over the following pre-purchase info,
- How to Choose the Best Areas for Rooming Properties
- How To Choose the Best Locations in Those Areas
- What Types of Properties Work Best
Once you get through that I discuss
- Furnished or Unfurnished, Which Is Right For You
- Daily, Weekly or Monthly Rates, How to Choose and
- Understanding Your Local Laws
Plus much more.
Learn The Basics of Rooming Houses
Learn how I started in rooming houses, some of the mistakes and lessons I learned early and how I used rooming houses to replace my well paying job. If you’ve ever been interested in renting out rooms in a property, this will be a must read for you and if you’re currently renting out rooms, but are struggling or have questions on how to improve or add to your portfolio, you’ll find many of the answers here. We cover the basics of rooming houses to get you started and add even more helpful tips and strategies to carry your further.
My name is Joseph Herbert. I am a Realtor, Real Estate Investor and Rooming House owner in Erie, PA. If you are considering the purchase and operation of a Rooming house or a rent-by-the-room type of income property I would highly suggest subscribing to the Educated Landlord newsletter and purchasing Bill Biko’s eBook entitled “The Basics of Starting Your Own Rooming House”.
The guide is a must have operations manual for any investor looking to succeed in this business model. This is not a business model you want to learn by trial and error. I have purchased several books covering the Rooming House business and Bill’s is one of the best available. Bill’s newsletter has tips you can actually use to run the business successfully. To sum it up, if you want to succeed in the Rooming House business you want Bill Biko on your team – Joe Herbert
Answer These Quick Questions About The Basics of Rooming Houses
So, do you want to find out how to make a property more profitable than you ever thought?
Would you like to learn to maximize cash flow from a rental property?
Are you just curious to see if owning a rooming house would work for you?
If you answered yes to any of those questions, you’ll want to order this via the link below. It’s in a PDF format and is delivered electronically, so within minutes after ordering you’ll be able to download this and start getting educated. What are you waiting for? Here’s what Mark thought!
I just finished reading Bill Biko’s book – The Basics of Rooming Houses. It’s a solid book about an amazing concept. I’ve been involved in real estate for many years, but simply never noticed this obvious cash flow solution right under my nose. Rooming houses! In the book, the author tell many lessons learned in the trenches. He tells you what to look out for, and gives some great tips for how to boost your cash flow – ie, weekly vs. monthly rent collection. This tip alone is brilliant. If you’re interested in turning your regular old rentals in to cash cows, buy this book. – Mark L – Portland, OR
Hi Bill Does your consult or any of your products cover the legalities (zoning etc) of setting up a rooming house? Thanks!
Hi Interested,
As the rules vary so much from not just state to state or province to province but also city to city and county to county I can’t typically go into specific laws as there too many. My main rooming house course does however show you where to typically look for laws and rules pertaining to rooming houses for local areas.
Bill
Will an LLC be required to start a rooming house or supportive housing?
Without knowing your specifics the answer is usually yes. You really need to talk to your accountant and an attorney to determine your best possible options but an LLC will provide you some legal protection if you potentially get sued (and if it’s set up properly) and usually some beneficial tax advantages. It’s not a 100% rule as individual situations vary but as a general rule it would be advised if possible.
You may also want to check out your local rules and legislation (which vary tremendously from place to place) as they may have stipulations on who or what entities may operate a property like this. I cover many of the ways to determien the local rules along with determining the demand for short term rentals in my Rooming House Course as well.
If you’re just starting out the investment in the course could be quite beneficial in getting you off on the right foot.
Regards,
Bill
MY NAME IS MARY LUNSFORD I ORDERED YOUR BOOK BASICS OF STARTING YOUR OWN ROOMING HOUSE,. FROM GUMROAD, NOT REALIZING IT WAS ON LINE. THAT CHARGE WAS $17.00. IT WAS DONE ON MY I PHONE. I CAME INTO THE LIBRARY TO TRY ORDER THREE BOOKS BEGINNERS GUIDE INVESTING IN REAL ESTATE, BASICS OF STARTING YOUR OWN ROOMING HOUSE. I ORDERED AGAIN, AND CREATING STREAM OF TENANTS FOR YOUR ROOMING HOUSE. TOTAL OF $55.00. NOT INCL $17.00 EARLIER. AS YOU CAN SEE I AM NOT THAT GOOD WITH COMPUTERS. I WANT MY MONEY REFUNDED BACK TO MY ACCOUNT! NOW I KNOW NONE OF YOUR BOOKS CAN BE ORDERED IN PAPERBACK. ONLY ON LINE. I EVEN TRIED LIBRARY, BARNS AND NOBLES, EBAY, AND AMAZON. NONE OF THESE BOOKS CAN BE ORDER IN PAPERBACK. I AM VERY UPSET. I WILL BE CONTACTING GUMROAD ALSO. GUMROAD DON’T HAVE NO. THAT YOU CAN CALL WHEN ORDERING. OR HAVE A PROBLEM.
Hi Mary,
Sorry for the confusion. The majority of my products are quite clear that you can download the files immediately sorry of that wasn’t clear. I probably could have cleared everything up for you yesterday if you would have reached out, but to help you out I’ve refunded all three purchases today and the one from yesterday which you duplicated. It may take a few days for the refunds to appear, but the process has been started.
Gumroad is just the payment processor and they are totally online, they do have a support email you can use but if you’re not adept with computers I can see how that would be even more frustrating. All should be sent back to you shortly so again sorry for the inconvenience.
Let me know if you have any questions,
Bill
How can i improve on making more from a boarding house please send me the tips
Hi Priscilla, you can find the link to sign up for the tips here, https://theeducatedlandlord.com/rooming-house-tips/
How do you purchase your book? Is it an online version only? I need a physical book to send to my son.
Hi Gwen,
It’s a digital version only at this point which gives you a couple options. You can simply order it, download it and then forward it off to your son, or if you’d like you can order it, send me another update letting me know that you’ve ordered it and provide me with your son’s email and I can forward it off to him plus provide him with a little introduction to my other rooming house tips and info.
Let me know if that might work,
Bill
Awesome book! Bill really knows his stuff and is a wealth of information. Definitely worth every penny!! Thanks Bill!
where and how do u purchase?
Hi Ateeya,
I see your purchase went through a few minutes after you left this comment. If you didn’t receive it let me know and I’ll email it directly to you, otherwise I’ll assume you figured it out moments aftewrards!
Bill
Best $20 I’ve ever spent!
Well, $17 actually…
Thanks Bill! Even though I closely follow all of your posts, there is a lot of new useful info for me in this guide.
Thanks Igor!!!