Welcome to Radical Personal Finance, Show dedicated to providing you with knowledge, skills, insight, and encouragement you need, to live a rich and meaningful life now, while building a plan for financial freedom in 10 years or less.

My name is Joshua, I'm your host and today we continue with part 3 of a very small real estate series dedicated to radical housing ideas. Some ideas that I hope will provide you with grist for your creative mill that will allow you to think

about your situation and figure out how can you get more for less.

Today I want to cover the topic of what is usually referred to in the online financial community these days

as house hacking.

So of course we have this idea of hacking being a way to get more with fewer inputs, a way to creatively string together certain things so that you can get more benefits,

hack this, hack that, that's the common use.

And this idea of house hacking is usually used to refer to the idea of buying a house, moving into it, and filling your house with roommates, so that you can gain rental income from roommates

while also having a place to live in.

I think it's a great idea.

And I think it's a really worthy idea

that most people should and can pursue.

And I encourage you to consider it.

There is a learning curve, but I think the risk of doing this is relatively

low for many people, especially if you're careful.

First, you'll need the stability of income in order to qualify for financing if you don't have the money to just simply pay for housing.

But you'll need stability of income to qualify for financing so that you can actually purchase a house or some type of housing

appropriate real estate and you can do this with something as simple as a standard residential house.

You can also do this with an apartment or you can do this with a

multi-unit building. But if you'll go ahead and purchase a home and then seek to

fill that house with roommates, that can be a really compelling way for you to control an asset

that hopefully will appreciate in value while also profiting. A lot of people have done this. So instead of you're going out and renting an

...