A little while back I wrote a piece for BiggerPockets about the multiple ways my cofounder Deni Supplee has house hacked suburban single-family homes.
The latest? Hosting a foreign exchange student.
She and her husband host Alex, a high school student from China, for nine months out of the year. The stipend they receive through the placement service covers nearly all of their monthly mortgage payment.
It’s a win-win: they get effectively free housing, and they’ve truly grown to love Alex and consider him a second son. As empty nesters, they weren’t ready to sell their large suburban home, but they had three spare bedrooms sitting empty. By filling one, they’ve brought life back into the house and cover their mortgage payment.
She uses Cambridge Homestay as the foreign exchange student placement service if you’re interested. Get creative with your house hacking to save more money to buy income properties!