Hi, my name is Mike. I’m a single guy residing in Connecticut as an EE (Everything Engineer) after graduating college in 2003. After working for few years, I bought a townhouse in 2005 because everyone said it was a good investment. So now I have mortgage payments — and have yet to reap any profits on the original purchase.
In the middle of 2006, I decided to go back to school part-time for my Master’s in Business Administration, but my employer did not reimburse education expenses for non-technical degrees — leaving me on my own to pay for school. Rather than becoming a drug dealer for profit or extorting money from people, I decided that renting out my spare room would be a better alternative for making some extra cash. So the game plan would be to share the kitchen and living room, while we each would have our own separate rooms.
After having a pretty good experience renting out my spare room the first go-round, I did some renovations to my townhouse and began renting out another room in addition to the first room. This has enabled me to generate even more cash flow. Over the years I’ve had a number of different roommates, all of whom I found via the Internet. Even after finishing my graduate degree, I have continued to rent out my rooms because it’s a great way to make some extra income so that I can make accelerated payments on my mortgage.