This is an IHeart podcast.

Guaranteed Human.

If you have a swimming pool, I'm not sure if you guys, Trevor Shaw, have you ever heard a thing called Swimply? No. Is that when you rent the pool? You can rent your, you can rent your, you can rent out your backyard. Yeah, yeah, yeah. Right? You can rent out your backyard. You can run out your pool. Like I have one of my mentees. Every year she rents out her backyard, her pool here in New York.

And it pays her mortgage for the year.

Like it's incredible, right?

Because people treat that like an event space for the day.

Right.

So you can have somebody's backyard for eight to 10 hours and you're paying

two, three hundred dollars an hour for the full use of their backyard and their swimming pool.

So there's so many different ways to house hack and generate money with a single family

or a duplex to make it more affordable.

Now, also, here's another thing that people don't really realize is that border income,

aka if you have a roommate, what people don't know is Fannie Mae will allow you to use this border income

to help you qualify for a mortgage under the Fannie Mae Home Ready

Program. Now, the requirements is the borrower must have a history of receiving that rental

income for at least nine of the past 12 months. And you need documentation, such as your your lease agreement and show proof of receipt

that your roommate has been paying you to, um, since you I lived in an apartment together.

And then you can use that income to help you qualify for a mortgage.

So to break that down just in quick layman terms, if you are living with someone right now

and you have a lease and they're on the lease with you, if they're your bona fide roommate,

not just someone who's just in the house and you say, hey, they live here.

No, they have to be on your lease.

...