House Hacking To Build Your Wealth with Andrew Kerr

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 4 August 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

#14: Real Estate Pro Andrew Kerr joins Chris to discuss house hacking. They talk about six different types of house hacks you can use to start saving money, tips for buying and selling properties, and how to start thinking about real estate as a way to build your wealth. Andrew Kerr (@fibyrei) is a seasoned real estate investor and founder of Financial Independence by Real Estate Investing (FIbyREI.com). He is also the host of The House Hacking Podcast. Full show notes available at: https://www.allthehacks.com/house-hacking-andrew-kerr Partner Deals Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth Selected Links From The Episode Connect with Andrew Kerr: FI by REI Website | Podcast | Twitter | Instagram Six Types of House Hacks: House Hacking Ultimate Guide 9 biggest mistakes all real estate investors make: Free Guide Podcast episode on ADUs: The House Hacking Podcast Alternative loan types: VA Loan | HFA Loan Full Show Notes Who is Andrew Kerr? (00:15) What is house hacking? (01:40) Can house hacking be a luxurious experience? (02:22) Does house hacking mean you have to share a living space with someone else? (03:36) Six different types of house hacking (which one is for you?) (04:23) Do you have to buy a house to be able to house hack (and how to convince your landlord to let you sublet your rented property)? (06:33) What loans you should consider when buying a property to use for house hacking (HFA loans). (09:06) The four pillars of building wealth through real estate. (12:54) How did Andrew Kerr start house hacking? (and how Chris accidentally started house hacking) (13:43) Do you need to have a kitchen to rent out your place? (and 3 types of tenants)(19:22) Four key costs that you need to consider before house hacking. (21:34) How much should you rent your property for? (27:09) What does a property manager do and should you get one for your property? (28:10) What is the Accessory Dwelling Unit (ADU) house hack? (31:07) How much does it cost to build an ADU? (34:31) Can you add the cost of building an ADU to your mortgage? (35:52) How are ADUs taxed? (and how you can pay 0 tax on your extra income).(36:50) How you can make money with real estate even if the value of your property stays the same. (39:09) Hacks for buying a house (what the average homeowner does not look for). (41:57) Hacks for selling a house (small things you can do that will pay off a lot). (46:04) Andrew Kerr’s tenant tales (a SWAT raid). (49:28) Is the current market good for house hacking? (53:00) Connect with All the Hacks All the Hacks: Newsletter | Website | Facebook | Email Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Transcript

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1:02.4	Money.
1:07.7	Hello and welcome to another episode of All the Haps, a show about upgrading your life,
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1:18.1	I'm Chris Hutchins and I'm excited to have you on my journey to find all the hats to optimize
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	...

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