We’re all about cutting expenses, especially the major ones! And what better way to reduce costs than by getting someone else to pay your mortgage?! We’re talking about house hacking, and we have Craig Curelop, author of “The House Hacking Strategy” on the show to talk about how he reduced his housing costs, and how you can too!
Sponsors:
- SAVVI: A financial management tool that helps you organize all your financial accounts so you can see the big picture of your overall spending and make financial goals according to it; AND the basic subscription is free. Check out www.savvifi.com that’s S-A-V-V-I-F-I .com and click on the signup tab at the top of the screen.
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Notable Notes:
We asked Craig all about his experience with house hacking and ways we can all consider applying the principles!
- What is House Hacking?
- How did you get into house hacking?
- Where do you house hack?
- How can a first-time homeowner compete with real estate investors to get one?
- Investors will try to undercut seller – house hackers and regular home buyers have an advantage
- Pick your strategy
- Be flexible – take what market gives
BILL OF THE WEEK – Thanks Craig for sharing your bill about schoolhouse rock and how to make a bill!
- If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill
Lightning Round
- Top expenses people should factor into their house hack
- Maintenance costs
- Renovation costs
- Capital Expenditures (roof, etc.)
- Vacancy
- What has your experience with tenants been?
- Screening = great experience
- Poor screening = not great experience
- What comes after the house hack?
- BRRR strategy – renovate, sell
- FIRE – financial independence, retire early
- Where can people learn more about you and get the book?
- biggerpockets.com/househacking
- IG: thefiguy
- Book: “The House Hacking Strategy”
Frugal Friends Book Club:
- We are reading “I Will Teach You to be Rich” by Ramit Sethi for book club this month!
- If you want a free copy, leave us a review on iTunes or Stitcher, screenshot the review and send it to frugalfriendspodcast@gmail.com. We’ll select the winners at the end of the month.