And if you think our empire-building hosts, David Greene, Henry Washington, and Rob Abasolo, aren’t spitting facts, think again. All three of these investors started house hacking and credit it as the greatest move they made to build wealth. But how does house hacking work, and if it’s such a smart move to make, why isn’t everyone doing it? In essence, house hacking allows you to monetize your living space. So, you get paid to have a mortgage instead of paying a mortgage. This could mean renting out your spare bedrooms, Airbnb-ing your mother-in-law suite, or buying a duplex and renting out the other side.
And during a time when mortgage rates are higher than many of us have seen before and housing affordability is at an all-time low, house hacking can become your savior of savings, helping you keep more money every month. This compounded savings allows you to buy even more real estate, build your dream portfolio faster, and retire earlier than you thought. So, if you’re ready to invest in real estate, don’t sleep on house hacking!
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The House Hacking Strategy
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How to Start a Real Estate Portfolio with Just $10K:
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Connect with Rob (Robuilt) on YouTube, Instagram, TikTok, and Twitter:
YouTube: https://www.youtube.com/c/Robuilt
Instagram: https://www.instagram.com/robuilt/
TikTok: https://www.tiktok.com/@robuilto
Twitter: https://www.twitter.com/robuiltchannel
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Connect with David, Henry, and Rob on BiggerPockets:
David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none
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David: @davidgreene24 or https://www.instagram.com/davidgreene24/
Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/
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Episode #745
Show notes at: https://www.biggerpockets.com/blog/real-estate-745?utm_source=youtube&utm_medium=description&utm_campaign=none
00:00 Intro
01:21 Quick Tip
03:44 Live Mortgage-Free!
10:21 How to Start House Hacking
15:16 The Key to Affordable Housing
22:21 Finding and Analyzing a House Hack
27:26 Picking Your Market
33:30 The Different Ways to House Hack
38:11 House Hacking Will Make You MILLIONS
44:24 Connect with The Hosts!