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What if you could live in your home while someone else pays the mortgage? That’s the idea behind house hacking.
House hacking refers to living in a home or multi-unit property while renting out part of it. Dedicated house hackers say it’s a great way to lay the foundation for a real estate empire—one that can catapult you to financial freedom. But will it work for you?
That’s what we’re exploring in this week’s podcast.
As usual, host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This week’s guest is Robert Leonard, the author of “The Everything Guide to House Hacking.”
Remember, even though we sometimes talk about specific investments in our podcasts, don’t take them as recommendations. Before investing in anything or making any money moves, do your research and make your own decisions.
You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:
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Don’t forget to check out our podcast page for more episodes designed to help you make the most of your money and our YouTube page for more videos.
What is house hacking?
In this episode, we talk about house hacking and the different forms it can take. From buying a home and living in it while you fix it up to purchasing a multi-unit property and living in it while your tenants pay the mortgage, there are different ways to get more from your primary residence.
Other real estate-related links:
- Learn about the 10 Things Preventing People From Buying a Home Today
- Listen to our podcast episode on 5 Ways to Cash in on Real Estate
- Ready to retire? Read our article on 8 Ways to Invest in Real Estate for Retirement
- You don’t need a lot of money to start investing in real estate: How to Get In on Real Estate Investing Even If You Don’t Have Much Money
- Wondering whether to focus on stocks or real estate? We break it down with this podcast episode: Which Is the Better Investment: Stocks or Real Estate?
- Looking for more ideas to make money? We’ve got some, including real estate, in 6 Clever Ways to Build Wealth Outside the Stock Market
What can you expect from real estate in the future?
Is now the right time to invest in real estate? Or should you wait? Before making that decision, check out our resources on what you need to know.
- Is the Housing Bubble About to Burst?
- The Top 10 Emerging Real Estate Markets Right Now
- 14 Markets Where Home Prices Could Plummet by 30%
- Is It Time to Buy Real Estate?
- 10 Housing Markets That Are Most Likely to Keep Their Value
And, if you’re not sure about real estate, you can also turn to the stock market. It’s pretty shaky right now, but that doesn’t mean you can’t make the most of it. Check out our podcast episode on 5 Things You Need to Know About This Horrible Stock Market.
Meet this week’s guest, Robert Leonard
Robert Leonard is the vice president of growth at The Investor’s Podcast Network, podcast host of “Real Estate 101” and “Millennial Investing,” founder and managing partner of Piranha Capital, and founder of EverythingHouseHacking.com. He earned an MBA in accounting and finance and a BSBA in finance and economics, and is a certified management accountant (CMA).
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About the hosts
Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.
Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.
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