Thought this was kind of funny. A real estate agent us not the term "house hacking "
An Oakland real estate agent is being called out for putting a Silicon Valley spin on one of his listings.
"Eager to invest in the hot Bay Area real estate market? Consider HOUSE HACKING," the advertisement by Joe Dickerson reads for a duplex at 5401 Genoa St.
It's called being a landlord, Twitter user @anniefryman points out.
By definition, it IS house hacking, correct?
No, house hacking As I understand it, is moving into a fixer upper and bringing it up to speed on your own.
Moving into a place with no major work needed in both units is just being a regular ol landlord.
@Karen Johnson has the best answer. House hacking refers to buying a multi family home and using one of the units as your primary residence while renting the others to minimize your mortgage, pay for your whole mortgage, or possibly even profit from the other renters. I am actually planning on using this strategy to buy my next residence.
I think "house hacking" involves "being an landlord", but is more than that, ie most landlords don't live in the same property with the tenant but house hackers do..
It's a beautiful day for an esoteric conversation: Can I say that you're all right???
Hack (Merriam Webster) - used informally - to manage or be successful.
"life hack - a usually simple and clever tip or technique for accomplishing some familiar task more easily and efficientlyHouse hacking then would in general informal.
So a house hack would be an unusually clever way or technique for owning a house (or being a real estate investor).
So how many ways can you house hack? So far on this forum post I've heard of
1. Roommates in a SFR
2. Buying multi and renting out one or more units.
3. Living in a fixer upper while you fix her up.
I can add a few more That I've done or personally known
1. Turning the yard of a SFR into a pick your own produce garden for the neighborhood.
2. Renting the yard for parking on game days at the UF Swamp.
3. Boat dock rental in the backyard.
4. Easements for oil and gas companies.
5. Mineral rights sales.
6. Haying the excess yard.
7. Running a hair salon in the unused part of the house.
8. Managing your business from a room instead of renting space.
9. Air bnb part of the house.
10. Pay to enter back yard soirees for boat parades passing by at holidays
11. Home back yard concerts.
Isn't house hacking whatever makes owning a house and being a real estate investor easier? What are some other ways you can think of to "house hack"?
I most certainly did not invent the term 'house hacking', but it's a lot easier than typing or saying 'buy a multiunit property, live in one unit, and rent the others out' every time I want to convey that idea.
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