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Editor’s Note: This episode initially aired on Oct. 19, 2022. It may contain some details that are out of date.
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.
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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:
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.
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.
