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Everyone wants to make some cash and there’s no doubt that renting out a room is a great way to accomplish that.  It’s not entirely easy money and does come with some work.  Most folks may already have an idea, but I wanted to share my first hand experience as what the work will entail. [...]

If you’re just starting out in this venture, chances are, you’ll have concerns such as: Should I trust this person as my roommate? Should I lock up my personal/sensitive items.  What will my neighbors think? To tell you the truth, I had all concerns when I first started out.  Even today, I still have concerns.  [...]

A reader e-mailed me the following question regarding a roommate moving out in the middle of the month vice at the end.  The e-mail reads as follows: Hi mike, it's R. Well last email I told you had my first tenant. What do I do if he has a change of plan. We have a [...]

I hope everyone is meeting or surpassing their financial goal from the income they’re making of their spare room.  I myself, have certainly achieved my goal of paying off my second mortgage and refinancing my first mortgage to favorable rates – this was a few months ago. With that in mind, I want to share [...]

Sorry for the lack of posts. I’ve been away on vacation and thought I would have the time to post something upon my return, but as evident from the lack of post that didn’t happen. So, what’s new in the world of renting out rooms?  Two things occurred in my house.  One of which happened [...]

A lot of people have e-mailed me about how to find roommates.   When I first started years ago, I used roommates.com as my sole medium to land my first several roommates.  Since then, I've listed roommate advertisements on all possible sites.  This is because I've developed confidence in my screening process to find reliable roommates [...]