House Hacking

House hacking is a strategy used by beginner real estate investors who want to get a taste of real estate investing. Or it can just be a great strategy to use to technically live for free. House hacking is done by investing in a multi-family property (duplex, triplex, fourplex, or other apartments). One of the units serves as your primary residence, whereas the rest of the units are rented out to tenants. The tenants’ rent payments cover your mortgage and other expenses, meaning you are technically living for free, or at a very low cost. It’s a great strategy for wealth creation and a good start for your real estate investment portfolio. House hackers gain real-time landlord experience and can learn some valuable rental property management tips with this investment strategy.