95: The House Hacking Strategy with Craig Curelop

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.5 • 3K Ratings

🗓️ 21 October 2019

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the most commonly asked questions in the BiggerPockets Forums is “How do I get started investing in real estate with no money?” Craig Curelop has the perfect answer to this question - House Hacking! Craig shares his own story of three house hacks - and counting! We dive into the numbers, look at what makes a good property to house hack, and even talk about the different ways to hack your housing. Craig also shares ways he dealt with people who didn’t understand what he was doing - including his family and most of his friends. Craig even shares his biggest house hacking mistake - how not following his tenant screening protocol led to a terrible experience. If you’re thinking about jumping into house hacking, this episode lays it all out. In This Episode We Discussed: Craig's journey with house hacking Craig's numbers on his first house hack What PMI is Craig's PMI monthly payment How he leverage his first house hack into the second house hack Craig's numbers on his second house hack The importance to consider the occupancy law How he bought his third house hack Craig's numbers on his third house hack How he managed all his rentals How to find a property manager The idea of sacrificing comfortability and profitability Advantages on house hacking What kind of property makes for a good house hack On luxurious house hack Getting pushback about house hacking Craig's biggest house hacking mistake and how to prevent it Things that is important when it comes to house hacking And SO much more! Links: BiggerPockets Money Podcast 35: Hacking Your Life to Live for (Almost) Free with Craig Curelop BiggerPockets Podcast 244: “Unfair” Taxes and Unfair Advantages with Linda Weygant, CPA BiggerPockets Podcast 350: How to House Hack Your Way to Financial Freedom in 3 Years with Craig Curelop BiggerPockets Money Podcast 02: An All-Out Approach to Financial Independence at an Early Age with Scott Trench BiggerPockets Forums BiggerPockets Blog Tenant Screening: The Ultimate Guide Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the BiggerPockets Money Podcast, show number 95 with Craig Curlop,
0:05.0	author of the house hacking strategy, how to use your home to achieve financial freedom,
0:10.0	and a member of the staff here at bigger pockets.com.
0:14.0	So you definitely want to be in a living situation that you will enjoy, right?
0:18.0	And so the whole curtain thing most people probably would not enjoy.
0:20.0	I actually did enjoy it, believe it or not, just because I got to meet a lot of people.
0:24.0	And it was an experience, right? I love the experience.
0:26.0	It's time for a new American dream, one that doesn't involve working in a cubicle for 40 years, barely scraping by.
0:33.2	Whether you're looking to get your financial house in order,
0:35.4	invest the money you already have,
0:36.7	or discover new paths for wealth creation,
0:39.6	you're in the right place.
0:41.4	This show is for anyone who has money or wants more. This is the
0:45.0	bigger pockets money podcast. How's it going everybody? I'm Scott Trench and I'm here
0:49.3	with my co-host Miss Mindy Jensen. How you doing today's today, Mindy?
0:51.8	Scott, I am super excited for today's show because while I am the president of your fan club
0:56.8	I'm also the president of Craig's fan club. He is doing some pretty amazing financial wizardry with this house hacking strategy
1:05.2	that he's mastered during his short time working here at Bigger Pockets
1:10.2	short time it's like two and a half years or something but he's just really crushing it and
1:15.0	it's exciting to see somebody who is I know I make fun of you guys for being
1:20.8	young but you're significantly younger than I am. It's exciting to see somebody who is so young doing
1:26.0	something so financially advantageous, you know, taking the risks and making the sacrifices that you need to do to be a house hacker.
	...

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