195: Financially Free in 2.5 Years by Buying “Low Risk” Rental Properties
You often hear about house hacking as a means to an end, a simple way to start your real estate journey, but what if it could be more? What if house hacking could be your ticket to financial freedom? Today’s guest, Craig Curelop, author of The House Hacking Strategy, shares how he reached financial freedom through house hacking and how to follow along in his footsteps.
Craig started where most do, hating his W-2 and working too much. He began researching how to earn a passive income and came across BiggerPockets. Within six months, Craig started working at BiggerPockets, moved to Denver, and decided to start living his life the way he wanted. Using his house hacking strategy, he went from being $30,000 in debt to financial freedom in two and a half years.
Before you get into house hacking, you need to understand the basics, and today Craig breaks them down. He goes over the different ways to house hack and its advantages and disadvantages. Craig also talks about how to live with your tenants and the boundaries needed for your ideal house hacking situation. Craig paints the whole picture so you can make an informed decision and decide if house hacking is the way for you to become financially free too (or at least build more passive income)!
In This Episode We Cover
Why house hacking is ideal for new and young investors and how to get started
The different ways to house hack and how to turn an unused space into an income-generating area
The noteworthy advantages and disadvantages of house hacking and how to decide if house hacking is for you
Living with tenants and how to set landlord boundaries for you and your tenant’s comfort
How to vet tenants and red flags to look out for before offering them a lease
Collecting rent and the processes to have in place to help you stay in “landlord mode”
And So Much More!
Links from the Show
Real Estate Rookie Youtube Channel
Real Estate Rookie Facebook Group
10 Income Streams on 1 Property by “Land Hacking” w/ Kai Andrew
Connect with Craig:
Check out the full show notes here: https://biggerpockets.com/blog/rookie-195
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