How to Reach for Financial Freedom with House Hacking

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What when you may dwell in your house whereas another person pays the mortgage? That’s the thought behind home hacking.

Home hacking refers to dwelling in a house or multi-unit property whereas renting out a part of it. Devoted home hackers say it’s an effective way to put the muse for an actual property empire—one that may catapult you to monetary freedom. However will it be just right for you?

That’s what we’re exploring on this week’s podcast.

As regular, host Stacy Johnson is joined by monetary journalist Miranda Marquit. Listening in and typically contributing is producer Aaron Freeman. This week’s visitor is Robert Leonard, the creator of “The Every little thing Information to Home Hacking.”

Bear in mind, although we typically speak about particular investments in our podcasts, don’t take them as suggestions. Earlier than investing in something or making any cash strikes, do your analysis and make your individual selections.

You may watch this episode under, or when you’d choose to hear, you are able to do that with the participant on the high of this text or obtain the episode wherever you get your podcasts:

Don’t neglect to take a look at our podcast web page for extra episodes designed that can assist you profit from your cash and our YouTube web page for extra movies.

What’s home hacking?

On this episode, we speak about home hacking and the totally different kinds it could actually take. From shopping for a house and dwelling in it whilst you repair it as much as buying a multi-unit property and dwelling in it whereas your tenants pay the mortgage, there are alternative ways to get extra out of your major residence.

Different actual estate-related hyperlinks:

What are you able to anticipate from actual property sooner or later?

Is now the fitting time to put money into actual property? Or must you wait? Earlier than making that call, try our assets on what you should know.

And, when you’re unsure about actual property, you can even flip to the inventory market. It’s fairly shaky proper now, however that doesn’t imply you possibly can’t profit from it. Try our podcast episode on 5 Issues You Have to Know About This Horrible Inventory Market.

Meet this week’s visitor, Robert Leonard

Robert Leonard is the vice chairman of progress at The Investor’s Podcast Community, podcast host of “Actual Property 101” and “Millennial Investing,” founder and managing accomplice of Piranha Capital, and founding father of EverythingHouseHacking.com. He earned an MBA in accounting and finance and a BSBA in finance and economics, and is an authorized administration accountant (CMA).

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In regards to the hosts

Stacy Johnson based Cash Talks Information in 1991. He’s a CPA, and he has additionally earned licenses in shares, commodities, choices principal, mutual funds, life insurance coverage, securities supervisor and actual property.

Miranda Marquit, MBA, is a monetary skilled, author and speaker. She’s been overlaying private finance and investing subjects for nearly 20 years. When not writing and podcasting, she enjoys journey, studying and the outside.