Hello peoples of Bigger Pockets. I'm looking to do my first house hack which will also be my first property, in the next year. I'm doing a lot of research myself but am looking to see if anyone who has done this before has any books, forums, youtube videos, blogs, pieces of advice, etc. that they have found really helpful in acquiring their first house. Any and all information is appreciated. Thank you in advance!
Bigger Pockets Podcast 350 is a great episode.
Check out the house hacking strategy by Craig Curelop
Hey there Shaun, I don't have anything specific to point you to on information but BP and YouTube has been a great source of info!
My current house hack is not for everyone but I want my freedom asap and will do whatever it takes! Before finding Bigger Pockets I ended up buying a small church and renting out 5 rooms while I live in the "big room". We share the Kitchen and bathrooms and I have someone to chat with on occasion lol. With shaving my living expenses to a minimum, I could, in theory almost be FI with just this one property. I currently run the house, remodel and add to, when I can, to all 100% of the rent that I am saving with my W-2 job. My job does not pay that well but I try to be very frugal with my money.
While also not straight to your question I have found it quite helpful to put everything down on a spread sheet to keep track of the coming and going of my money and where it is leaking out. For instance I cut my phone bill from 89+ to 36$ while keeping it unlimited. I average out how much I spend per day on electricity, gas, food, home remodeling expenses etc and look to see if it can be improved.
Just some food for thought, feel free to contact me with any questions and good luck on your journey!