42: Bed and Breakfast House Hacking with Lauren Keen Aumond

Dec 16, 2020

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Lauren Keen Aumond was only 22 years old when she got her primary residence under contract, and 23 when she purchased it. She realized that the rents in her area were higher than the mortgage payment of buying a house, so she bought a home, leased out a room, and incidentally discovered house hacking. At 23 she was only paying $200 a month to own a home that would appreciate for many years to come.

This is when Lauren decided that real estate would become a bigger part in her life than she had planned. She then spent the next decade buying a second home, selling it, and cashing it in for a duplex. Now she owns a cash-flowing duplex plus her latest purchase, a house hacking bed and breakfast!

This home was situated on a decent sized lot, with a primary home, 2 cottages, and a mobile home! As a resourceful investor, Lauren decided the best way to make this a cash flowing property was to turn the two cottages into short-term rentals and buy a camper as a 4th unit on the property.

Lauren now juggles school, a full time job, small businesses, and her rental portfolio all at once. She goes into some seriously messy situations she’s been in with tenants, from evictions, to break-ins, and even utility siphoning. With all that being said, she still feels confident as ever to be a landlord, and isn’t looking back!

In This Episode We Cover:

Why house hacking is great for young real estate investors
Why you need to focus on the numbers, not emotions in a deal
Different financing options for multi-family properties
Creative ways to house hack a property with different units on one lot
How to get multiple appraisals (if the first doesn't cut it)
Dealing with very troublesome tenants (especially during COVID)
Why you shouldn’t give up even if a property’s numbers fall short
And SO much more!

Links from the Show

Check full show notes here: http://biggerpockets.com/rookie42

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