What Are The Risks Of Renting Out Your Basement?

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  • เผยแพร่เมื่อ 9 ม.ค. 2025

ความคิดเห็น • 15

  • @ANGEL-yg2er
    @ANGEL-yg2er 4 ปีที่แล้ว +8

    Tenants do background checks on your landlords as well. My landlord was breaking in entering into my basement apartment and stealing my belongings.

  • @DavidxxCrescentXX
    @DavidxxCrescentXX 6 ปีที่แล้ว +9

    Sorry if this is a silly question but wouldn't you run into some legal issues if you rent out your basement?

    • @ryans413
      @ryans413 4 ปีที่แล้ว +7

      You have to make it legal it has to have a kitchen bathroom and bedroom with a window and it has to have its own entry

  • @MikeG82
    @MikeG82 6 ปีที่แล้ว +6

    i would never be comfortable with a stranger living in my house

  • @alinak5174
    @alinak5174 4 ปีที่แล้ว +2

    How about you start will legal issues you as a landlord may easily face if your tenant brings housing inspection and IRS in..... because tenant with so perfect credit and so on can rent beautiful apartment almost anywhere for (at most cases) same and even less price... You, some of landlords, are do delusive.... Touch the ground!

  • @robertmorrissey6373
    @robertmorrissey6373 6 ปีที่แล้ว +6

    Hey Kris/Stephen. I recently found this duplex property that I could purchase as my first property for a 2% down payment with a 18% equity position in the property. Do you think it's a good idea for a first time buyer?

    • @austina4189
      @austina4189 6 ปีที่แล้ว +3

      Robert Morrissey I'm not kris or stephen, but you have to take the leap someday, so if it feels good go ahead and make the jump!

  • @AngelOne11
    @AngelOne11 6 ปีที่แล้ว +2

    Excellent video and has a lot of emotional insight on how to manage fears and risks

  • @danielkosciuszko9788
    @danielkosciuszko9788 6 หลายเดือนก่อน

    Accidentally renting basement to criminals would make for a great movie plot

  • @ramikheiralla572
    @ramikheiralla572 6 ปีที่แล้ว +2

    Hey Kris, Stephen, who ever reads this, I'm 14, will be turning 15 in August and i was watching some of your videos and i got really interested, so i started watching some more, but than the videos started getting really complicated and i would get confused until I would watch a few more and then things would get more clear, than more confusion, then clear again, ect.
    So what im asking is, is there an ideal order of the videos that i should watch to make things as clear as possible.
    E.G..
    video #1 explaining terms such as the one on (home equity)
    Video#2 going into more details such as (how to find the value)
    Video#3 explaining a new concept
    Video#4 linking the concepts together
    Video#5
    You get the point
    Thanks in advance

  • @HarryPNess-ps2dk
    @HarryPNess-ps2dk 6 ปีที่แล้ว +1

    Can you talk about hard money lending ?

  • @dariusdanila5749
    @dariusdanila5749 6 ปีที่แล้ว

    Good advice

  • @francisd2386
    @francisd2386 6 ปีที่แล้ว +4

    Where do you guys get this idea that renting a basement will pay the mortgage? A house big enough that has a sizeable basement for appartement will probably cost you 900-1000$ of a mortgage around here. I would never pay that much for a basement unless it's spanking new, 2 independent access, has AC, central vacuum, some kind terrasse and spacious. So no, the math around here doesn't work. You'll make the tenant pay a PART of the mortgage, not THE mortgage.

    • @lily_pb
      @lily_pb 3 ปีที่แล้ว +4

      What the heck is a central vaccum? U want the basement to clean itself?

  • @troytavarez3883
    @troytavarez3883 4 หลายเดือนก่อน

    If you live a wealthy life , just keep it that way , there's no need for you to come and give your horrible advice to others . And it looks like in the place where you work , only perfect people can get the job easily. And last thing , if you become president of the United States, then there will be more homelessness in the entire nation.