195: Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties w/Craig Curelop

Real Estate Rookie

BiggerPockets

Entrepreneurship, Education, Investing, Business, How To

4.7 • 1.8K Ratings

🗓️ 29 June 2022

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You often hear about house hacking as a means to an end, a simple way to start your real estate journey, but what if it could be more? What if house hacking could be your ticket to financial freedom? Today’s guest, Craig Curelop, author of The House Hacking Strategy, shares how he reached financial freedom through house hacking and how to follow along in his footsteps. Craig started where most do, hating his W-2 and working too much. He began researching how to earn a passive income and came across BiggerPockets. Within six months, Craig started working at BiggerPockets, moved to Denver, and decided to start living his life the way he wanted. Using his house hacking strategy, he went from being $30,000 in debt to financial freedom in two and a half years. Before you get into house hacking, you need to understand the basics, and today Craig breaks them down. He goes over the different ways to house hack and its advantages and disadvantages. Craig also talks about how to live with your tenants and the boundaries needed for your ideal house hacking situation. Craig paints the whole picture so you can make an informed decision and decide if house hacking is the way for you to become financially free too (or at least build more passive income)! In This Episode We Cover Why house hacking is ideal for new and young investors and how to get started The different ways to house hack and how to turn an unused space into an income-generating area The noteworthy advantages and disadvantages of house hacking and how to decide if house hacking is for you Living with tenants and how to set landlord boundaries for you and your tenant’s comfort How to vet tenants and red flags to look out for before offering them a lease Collecting rent and the processes to have in place to help you stay in “landlord mode” And So Much More! Links from the Show Ashley's Instagram Tony's Instagram BiggerPockets Real Estate Rookie Youtube Channel Real Estate Rookie Podcast Real Estate Rookie Facebook Group Airbnb AJ Osborne's Website The CRE Circle RentRedi The Real Estate Podcast Costco 10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew Kai Andrew's Website Apartments.com Connect with Craig: Craig's Instagram The FI Team Invest2FI Podcast Check out the full show notes here: https://biggerpockets.com/blog/rookie-195 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Real Estate Rookie episode 195.
0:05.0	And so you need to look at the house with the proper layout so that you can separate the upstairs and downstairs.
0:10.0	For example, there's many houses in the Denver area where the side door that is like right where the stairs are to go downstairs.
0:18.0	So all you have to do is like put a little wall up or put a little door up and you've got two separate units.
0:23.0	And that would be perfect to Airbnb the downstairs.
0:26.0	We do that like I've got many properties that are just that.
0:29.0	And I think that's the most efficient way and the way I like to house hack now.
0:33.0	My name is Ashley Care and I'm here with my co-host Tony Robinson.
0:37.0	And welcome to the Real Estate Rookie podcast where every week, twice a week, we give you the inspiration information
0:43.0	and motivation you need to kickstart your Real Estate investing career.
0:48.0	Ashley Care, my co-host, what's going on? What's new in your neck of the woods?
0:52.0	Well, I'm currently in a stretch position trying to get my knee to stop being painful right now.
0:57.0	The six month and never ending complaining of me with my knee problems.
1:01.0	But hopefully I just had my last surgery and hopefully I'm on the men.
1:05.0	But I avoided my pain pill today, which I probably should not have.
1:09.0	But I wanted to be a sound mind for the podcast recording.
1:14.0	But I feel like that's not even possible even without me on drugs.
1:18.0	So yeah, but yeah, other than that, everything's good.
1:23.0	I'm going to look at a property tonight that could potentially just be a long term buying hold and getting excited.
1:31.0	I think when this airs, this has already happened.
1:34.0	But I'm going to Boise Idaho to a conference that I'm going to be the MCAT and speaking at for AJ Osborne.
1:42.0	And it is his CRU circle event.
	...

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