9 Ways to Start House Hacking to Save Money

Consider house hacking as a retirement strategy

Retirement planning – or any other financial planning for that matter – doesn’t just need to be just about cost-cutting. Here’s house hacking can increase your income to reach all your money goals more easily. Before house hacking, start your journey to financial independence by getting rid of any credit card debt with the free, 7-Step Credit Card Debt Slasher.

What’s house hacking?

Rent or mortgage is one of the biggest recurring expenses for most people, especially in retirement. But what if you could reduce or even eliminate this expense?

House hacking is a popular way to do just that, using the property you already rent or own to cover your housing costs.

On this episode of Queer Money®, we share nine ways to house hack your first property, explaining how we’re buying a multifamily property to live in one of the units and rent out the rest.

We discuss two ways to generate extra income by living with roommates and describe how to earn extra cash by Airbnb-ing rooms in your house or apartment.

Listen in for insight on renting out the garage or parking space you’re not using and learn how YOU can create enough rental income to achieve financial independence!

Listen to the 9 ways to start house hacking:

Topics Covered

How to reduce or even eliminate your housing costs through house hacking
The benefits and potential drawbacks of house hacking
How we’re buying a multifamily property to live in one of the units and rent out the rest
2 ways to generate additional income by living with roommates
How to earn extra cash by Airbnb-ing rooms in your house or apartment
Renting out the garage or parking space you’re not using
How to leverage Airbnb during special events in your area or peak tourist season
What it looks like to have enough rental income to cover your living expenses

Previous 3 Podcast Episodes

Resources

Connect with David and John

We’re David and John Auten-Schneider, the Debt Free Guys (www.debtfreeguys.com) and hosts of the Queer Money® podcast. We help queer people (and allies) live fabulously not fabulously broke by helping them 1) pay off credit card debt, 2) become part- or full-time entrepreneurs and 3) save and invest for retirement.