House Hacking 101 - Top Tips For Living for Free with Roommates

Adam and Miranda give a tour of their house hacking of a student rental property in London Ontario.
House hacking is an amazing way to live for free? Why pay rent or a mortgage when your tenants can pay it? Far too many people think that living with roommates is the end of the world... It's not, it's a smart financial move, it's not a step back, it's a step towards building a strong financial foundation for your future. It's also a great way to keep lifestyle creep at bay.
It's a lot easier not to keep up with jones' consumption, if you're living with roommates and living a purposeful life that is moving you towards your goals.
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Matt McKeever
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FIREpreneur: A person who has reached (lean) FIRE and uses this freedom as a springboard to operate a business or organization, taking on no significant risk (due to lean FIRE).
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Matt McKeever is a CPA, CA and Real Estate Entrepreneur in London, Ontario. On this KZbin Channel Matt discusses a variety or real estate and personal finance strategies and tactics. Including: How to BRRRR Real Estate, The Importance of Investing for Cash Flow, How to Reach Financial Independence Retire Early, Safe Withdrawal Rates, Frugality and Reducing Personal Consumption & Embracing Minimalism.
Matt began investing in real estate at age 25 by purchasing a student rental near Fanshawe College.

[@AdamJDMartin]

If anyone has questions about what we’re talking about, post the time stamp here and I will answer it! You can also reach out to us @adamjdmartin or @mirandadrexler on instagram!

[@CanadianRealEstateChannel]

Yes - be sure to jump over to their insta's we're all active on our stories

[@AdamJDMartin]

@Nino Jones I think I have a lot of room for improvement, but I have also had a lot of practice. Networking events have put me in front of thousands of people in the last couple of years, and I spent four years in completing a degree in International Business Management, which had approximately 2-3 per day, all of which were in front of peers and profs (8months*~22days*2presentations= 350+ presentations).

[@mobiledevto]

@@AdamJDMartin How long have you been living here with your other tenants? I ask cause I've house hacked before and I've determined I'm not the best 'live with strangers' type of person. BTW I love what you're doing. Matt and Company are crushing it.

[@AdamJDMartin]

@@mobiledevto Thank you! We really do appreciate your time and attention. We have been living there for five months or so and are really getting settled into the experience now. It's been overall a really positive experience too. I think we have a big advantage in moving into this living situation pretty well right after school. We're so used to living with other people at this point that it's very normal for us at this point.

[@thejamesinator17]

Hey Adam, at one point during the video you mentioned one bad tenant you had to evict. Just wondering if you could explain what happened and how you dealt with it. Really enjoyed the video, very, very interesting information!

[@HungarianExperiment]

This video is filled with SOOO MUCH VALUE! Great job Adam & Miranda! Learned a lot while recording this with you!

[@CanadianRealEstateChannel]

So pumped for the content we're going to roll out in 2019!

[@AdamJDMartin]

Thanks Peter! It was a pleasure!

[@matwis2044]

Adam is a really good tour guide, very articulate and goes straight to the point ! Thanks for the tips, Miranda Adam and Matt.

[@CanadianRealEstateChannel]

Thanks for commenting! Glad to hear you got value

[@AdamJDMartin]

Thanks Mat! I appreciate your feedback and I'm really glad you enjoyed the content :) Stay tuned for more! Airbnb video coming up soon!

[@troypirsich2793]

Wow another awesome video! Very inspiring to all those trying to become financially independent. House hacking seems to be the concrete foundation to minimizing spending

[@CanadianRealEstateChannel]

Thanks Troy! We'll need to get you on the channel soon and show your house hack solution as well with airbnb!

[@AdamJDMartin]

Troy Pirsich yeah man. Matt’s exact words when I asked him how I could get to FIRE the fastest were “you need to house hack. That’s all you need to do”.

[@jonathanlamb4373]

I completely agree!

[@RickOsheaYYJ]

Great video, very inspiring. I have been house hacking on Vancouver Island for almost a year. (rent out 3/4 of house live in lower ste.) Living free is a great way for me to save enough cash to buy the next rental in the coming year. Thanks for sharing and to Matt for all the great informative videos with a Canadian perspective.

[@sohailfaeiz8837]

Thanks for sharing this video Matt! There are the ultimate couple goals, honestly.

[@CanadianRealEstateChannel]

Glad to hear you enjoyed the video!

[@AdamJDMartin]

thanks again for your time and attention. If you want a closer look at what we're doing daily, check us out @adamjdmartin @mirandadrexler @realestateratpack ! Don't forget about @jeffwybo

[@ZacheryGlass]

Super high quality video. Keep up the great work!

[@CanadianRealEstateChannel]

Thanks for the support!

[@AdamJDMartin]

Thank you! We were really happy with this one :) loved how it turned out!

[@movietrivia8264]

Great video guys... Perfect example of how to house hack love it. I house hacked from age 23-27. Great work

[@CanadianRealEstateChannel]

That's awesome! What city did you house hack in?

[@AdamJDMartin]

That's awsome. We've been having a great time with it. It's honestly one of the best strategies to achieve financial independence fast. It just eliminates so much burden (and can even be profitable).

[@dylanmclauchlan3672]

Great Airbnb tips! So powerful when combined with house hacking.

[@CanadianRealEstateChannel]

I wish airbnb was around when I was house hacking.

[@AdamJDMartin]

It's the next level of house hacking for sure. And most people can probably start doing that right away!

[@Harkescreative]

LOOK AT THAT VIDEO QUALITY. Somebody got a level up! ;)

[@CanadianRealEstateChannel]

Haha thanks man!

[@AdamJDMartin]

RIIIIIIIGHT I love it :) Thanks again for watching!

[@vatsalsavani473]

Love your videos Matt, but could you please do a video on how to actually choose and select a tenant and what signs to watch out for especially for house hacking situations rather than general renting. Thank you for all your videos!

[@CanadianRealEstateChannel]

Thanks Vatsal! We'll try to do a video on this in the near future - have you seen - kzbin.info/www/bejne/eHuXk5yHo9uSjJI

[@AdamJDMartin]

Thanks for watching Vatsal! Make sure you check out the video that Matt posted below. I love that video series and Matt really breaks out his whole strategy on a live property!

[@vatsalsavani473]

@@CanadianRealEstateChannel Thanks for the quick reply Matt! I have seen it before but dont quite remember everything in. Definitely have to watch it again hahaha!

[@vatsalsavani473]

@@AdamJDMartin Great video Adam, loved your style! I have watched his series on BRRRRing but its been quite some time so forgot quite a bit on what it contains. I am in the process of trying to watch every single one of his vids as I get time cause as we all know they are amazing and contain alot of information!

[@mirandadrexler7044]

Vatsal Savani yeah! There’s honestly so much content and info re-watching the classic videos always has more value to give

[@oneconcept22]

Love it. Good work you two!. Adam: I'm also a light sleeper. I got myself a sweet sound machine way back when to make white noise which helped with roomies (if you don't have one already)... I'd love to do something similar just for the sake of having more people around for kids sake as I've found it's more the merrier. Hopefully in the future houses are built with a cohabitation plan in place to address the shifting demographics of ageing boomers, rising housing costs and efficiency overall.

[@CanadianRealEstateChannel]

Love your perspective - thanks for sharing

[@AdamJDMartin]

That's a great tip! so far I've found that our humidifier acts as something of a sound machine. It whurs and purrs like you wouldn't believe. Although i'm pretty sure it does absolutely nothing else.... And yes I think that's a great idea. cohabitation can lead to so many great lessons and difference perspectives!

[@mirandadrexler7044]

Haha yes, our current $30 humidifier doesn’t do its job but it’s makes noise which I love. Our house is surprisingly quiet at night considering all the people we have in it

[@acaiberrisimo]

Buy an air purifier, even a moderate one like the febreze model, makes your room smell nice with a good ol' wAAAAA fan noise

[@mirandadrexler7044]

Scott Berry hahah I love it! We’ll have to get one. Waaaaaaa noise, plus clean air plus nice smells?! How could it get any better

[@mirandadrexler7044]

I cannot believe the cat almost lit himself on 🔥 Such an attention seeker!

[@CanadianRealEstateChannel]

Sooo close to going viral... haha jk

[@AdamJDMartin]

lmao FIREcat

[@ZanetkaPL]

The cat makes this video

[@CanadianRealEstateChannel]

😆

[@mirandadrexler7044]

Lol Chester crushed it for his first youtube video. #ProudCatMom lol

[@NickBr4ndon]

Solid Content!

[@CanadianRealEstateChannel]

Thanks Brandon

[@AdamJDMartin]

Thanks again for your time and attention! We had a lot of fun with this!

[@honestly101]

Thanks Adam and Miranda. The day Toronto gets back to a "normal" state of real estate. I will be implementing this house hacking for sure.😉😉😉

[@CanadianRealEstateChannel]

Haha - Toronto and normal in the same sentence - been a while since that was used. haha

[@AdamJDMartin]

Honestly, there could be an Airbnb play left for you if your building allows. We've seen Phil increase his monthly rent by 100%+

[@magma9138]

Thank you!

[@erinjk123]

I like the art above the couch. Nice kitchen.

[@CanadianRealEstateChannel]

Thanks for watching!

[@AdamJDMartin]

Thanks Erin :) It was from Jysk! If you want to see more from us o the daily, check out @adamjdmartin @mirandadrexler on instagram :)

[@AdamJDMartin]

Oh wow. I meant the couch was from Jysk. The artwork is from Andrea Rinaldo in Collingwood. buttergallery.ca/artist-works.php?artistId=275852&artist=Andrea+Rinaldo

[@rachaeldxoxo]

Very insightful!

[@CanadianRealEstateChannel]

Thanks for watching!

[@rachaeldxoxo]

Thanks for sharing all of this valuable information! There was tons of things on the subject that hadn’t even occurred to me until I watched your videos

[@BryanGuerratv]

That cat looks eerily similar to mine lol

[@JeffWybo]

Bryan Guerra hmmm do you house hack too ?? :)

[@CanadianRealEstateChannel]

Haha - does he also often almost light his tail on fire?

[@BryanGuerratv]

Jeff Wybo I do not. Just interested in learning more about Real Estate 👌

[@BryanGuerratv]

Matt McKeever no lol thank god

[@AdamJDMartin]

Hahaha well you can tell from the video that he gets around. I wouldn’t be surprised if he’s sneaking out at night 🐈

[@ukk4346]

damn that place cleaned up really nicely, how much did the renos cost

[@CanadianRealEstateChannel]

Thanks for watching!

[@AdamJDMartin]

Thanks UK. Reno's were initially ~$7000 for all the flooring, paint, hardware, and demo. We've since added the furniture, the new appliances, and a parking lot in the back (another $3600).

[@randomlyinteresting]

Sick crib dudes

[@CanadianRealEstateChannel]

Thanks! Can't wait to drop your episode later this week!

[@JeffWybo]

Randomly Interesting probably the best looking interior on the street

[@AdamJDMartin]

Randomly Interesting thank you!!! We love it :)

[@randomlyinteresting]

woohoo!

[@virginialee7979]

What if a tenant “takes over” the living room which is a communal area. He sits in the living room watching TV from Monday thru Monday 7:30am to 9:39pm with the TV blaring Please advise?

[@rosanacampos8553]

Great info. Do you guys receive the payments through a LLC? How is the taxes situation in this case?

[@Jason-ld8om]

Hey Adam is your home close to UWO or Fanshawe? Thanks.

[@CanadianRealEstateChannel]

Fanshawe

[@AdamJDMartin]

Hey Jason, we're a few blocks away from Fanshawe!

[@brunaw]

Awesome video!

[@AdamJDMartin]

Thanks Bruna! If you want a closer look into the daily work, check out @adamjdmartin @mirandadrexler @mattmckeever85 and @jeffwybo on instagram!

[@easandov]

What is rent like in your area?

[@whoispriest]

override our experience?

[@CanadianRealEstateChannel]

I think what Adam was trying to explain is that house hacking/living with roommates doesn't need to be viewed as a sacrifice.

[@AdamJDMartin]

Yeah I think it’s important to set a standard right away if you’re going to HouseHack. There’s a certain cleanliness, noise, and respect level that needs to be clear.

[@whoispriest]

@@CanadianRealEstateChannel just sounds like something tie lopaz would say,lol

[@AdamJDMartin]

@Just A Guy absolutely. and it's all worth it if that's where your passion is!

[@HungarianExperiment]

🔥🔥🔥🔥🔥

[@CanadianRealEstateChannel]

Killer Thumbnail!

[@doooooo01]

Moving up Matt 21k. Congrats; You need to get on grams channel again so you can get more U.S. subs.

[@CanadianRealEstateChannel]

Thanks Darius! Haha yeah another appearance on Graham’s channel would def bump my channel up in a big way. The Graham effect is real.

[@AdamJDMartin]

With any luck he'll be in Miami for Growth Con3 and we can get a cameo ;)

[@BuonoBruttoCattivo77]

I love their ambition, but how is the law even a bit on their side here? They're basically hoping that renters respond to passive aggression because that pressure cannot be backed up.

[@Jason-ld8om]

Does that TubShroom work well?

[@AdamJDMartin]

Love the TubShroom. You have to empty it out when there's this many people there, but it's much better than the tub getting plugged every day.

[@mirandadrexler7044]

Honestly a life saver! Especially when you have people with long hair. Would definitely recommend

[@JeffWybo]

First?

[@CanadianRealEstateChannel]

💯

[@AdamJDMartin]

Jeff Wybo nailed it.

[@kimary117]

I'm going to buy VIPOO now! Lol