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The Personal Finance Podcast

House Hacking: How to Live Rent Free (Seriously!)

The Personal Finance Podcast

Andrew Giancola

Business, Investing, Entrepreneurship

4.7 • 1.4K Ratings

šŸ—“ļø 26 August 2020

ā±ļø 23 minutes

šŸ§¾ļø Download transcript

Summary

Episode 16: House Hacking: How to Live Rent FreeĀ  In this episode we cover:Ā  What is house hackingĀ  Benefits to house hackingĀ  How to Run the numbers on a house hackĀ  Best House Hacking Properties Managing Your House Hack Resources in this episode: The Book On Managing Rental Properties I recommend (Affiliate Link) House Hacking Book to Dive DeeperĀ (Affiliate Link) Mortgage Calculator How to Buy a House Article M1 Finance Best Place to InvestĀ  Personal Capital Free Wealth Management and Budget AppĀ  CIT BANK (Best Savings Account)Ā  **Ā Some links may be an affiliate link and we earn a small commission at no extra cost to you. We only recommend products we truly believe in.Ā  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

On this episode of the Personal Finance Podcast, we're going to talk about house hacking and how you can live rent-free forever. What's up everybody and welcome to the Personal Finance Podcast. I'm your

0:27.1

host Andrew founder of Dollar After Dollar.com and today on the Personal

0:32.3

Finance Podcast we're to be talking about house hacking.

0:36.2

And this is a way that you can actually live, rent, free.

0:40.1

And if you've listened to the personal finance podcast for some time now, you understand that housing is one of the biggest expenses that you can have in your budget.

0:48.8

But what if you could completely eliminate your housing expenses? What if you could completely take that out of the equation?

0:54.0

How much more money could you save or how much more wealth could you build?

0:57.6

And that's exactly what we're going to talk about today because there's a way for you to be able

1:01.2

to actually knock out your housing expenses,

1:03.5

whether it's your mortgage, or whether it's just paying rent.

1:07.0

This is a way for you to have ownership and property

1:09.7

and also be able to live rent free. the concept is called house hacking and if you're in the

1:15.8

market to buy a home this is a fantastic option especially if you're in the market to buy a

1:20.5

starter home because this is a great way to get started into real estate,

1:24.0

and it's one of the best ways to get started into real estate investing

1:28.0

if that's something that you're looking to do.

1:30.0

And it truly is the perfect strategy,

1:32.0

and it's just something that a lot of people don't think about.

1:34.8

It's a concept that most people have never tried or they've never even thought about trying

1:39.1

because they don't know it exists.

1:40.6

But it's one of the coolest ways to begin building wealth because if you don't have a mortgage and you don't have that biggest expense within your budget

1:48.0

You're going to have tremendous growth if you put that money towards investments

...

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