A guy leased a farmhouse for $700/month, rented out five bedrooms at $400 each, and slept on the couch. After utilities, he cleared about $1,100 monthly. He had three refrigerators so each tenant got their own fridge space.
Are you in the deal room? That Blake might want to consider is called co-living. I did it on my first deal where my brother lived in a 4— it was a 5-bedroom house with 4 baths. It's a very old, dilapidated farmhouse from 1974. So basically I got the house for $700 a month. I went and cleaned up the bedrooms, made them really nice, cleaned up the kitchen, made it really nice, and then put on their rooms for rent. $400 a room. I rented out each room for $400. I slept on the couch and basically made sure everything stayed running and stayed on. But I had 3 refrigerators in the house cuz my brother was a beer drinker, so he had to have 2 fridges for beer. And then we, what I did was I converted the beer fridges into just regular food, food fridges. And so everybody had like their own section of fridge, plenty of room and all that. Literally made $2,000 a month while my rent check plus utilities was only about $900.
