How I Was Able To Use House Hacking To Live For Free

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Househacking? The idea of "living for free" or partially for free. It's quite the buzzword and a lot of people talking about it, but not as many do it. I used the house hacking technique on my first house, here is a breakdown of the numbers and how I went about it!
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[@ToddDesiato]

Very smart showing people how to do this, and showing a place that works. Thank you. I tried it once. Choosing the right roommates and not having them thrust upon you makes a huge difference.

[@happytobe_here9483]

A few of the comments have already typed out thoughts similar to mine, but I'll mention that these new terms (house hacking) that are essentially rebranding standard terms (renting, subletting, landlords) is just a way for people to present what they're doing in a way that doesn't illicit as much animosity and criticism as the standard terms too. Example: someone could say "I'm a landlord" and someone may have a positive or negative association with that word. However, if someone says "I practice house hacking by allowing others to live in the space I own so we can all have less expenses" then it kind of disguises the fact that someone's just a landlord, and it's a tactic to make what they're doing seem more flowery and approachable. This happens in real estate all the time and it's easy to see through...

[@AdamJBell]

True, pretty much what Monica said at 0:28 too 🤙

[@DJARVINDOFFICIALAK]

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[@samaraisnt]

lol seldom do people love landlords.

[@TheCinnamondemon]

disagree, i think its to make the concept easier among investors/landlords, not language to present to non-investors. ive never told an ordinary person im 'house hacking'. its a term used pretty much only within the investment community so no worries about trying to seem more flowery

[@callmethesandwich]

we need mao

[@MonicaChurch]

Thank you for watching! Comments were disabled for the first day because I accdidentally set it to "made for kids", feel free to leave a comment!

[@roryandsage]

Thanks for being sooo real!! I thought the title was too good to be true and thought this video might be gimmicky, but you kept it real the entire time!

[@DJARVINDOFFICIALAK]

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[@devmaxir]

I loved this video. Unlike many real estate KZbin videos, you actually ran the numbers and showed your exact experience of your house as well as real examples on how a house hack worthy property may look like. 🙌

[@TuckerPearce]

Glad comments came back on? This was a very interesting one Monica. Really enjoyed it a lot. Thinking of building a house outside of Charleston, SC to retire but figure we’ll rent it first until we are ready to be there full time.

[@mahoganydrive]

It’s so awesome that you were able to generate an income from extra space. The timing was so good for you when you were single and willing to do it. And so lucky you had good renters. That is really the key and that can be hit and miss.

[@InvestorAmy]

I house hack as well! Thank you for sharing your number breakdown. I should definitely do a breakdown for my situation- I live for FREE and I have a completely separate space🤙🏼 Gotta do what you gotta do to get ahead 😎

[@GeographicallyFree]

This was popular in the northeast back in the 70's. My parents and most of our neighbors were doing it. Although it wasn't called house hacking back then.

[@nancydineen6797]

I always appreciate your transparency with finances.

[@_KendraChristine]

This is so fascinating, and such a great way to save money each month and be able to pay off your home quicker!

[@Athandatu]

Great video. I’ve also house hacked too and it’s a mix of successes and headaches. I would’ve liked to know if you included utilities or didn’t. Also, I think your mic may be picking up a radio station or something 😊

[@Okeanemlak]

Very amazing 👍🏻🤝 Thank U for your advice about realtor state position 👍🏻

[@dora101511]

Hi Monica. love your vids. May I know what camera are you using? the quality is so good. 😊

[@milomoon3856]

The name of the video got me worried, but the video was extremely insightful and informative. There’s a fine line between seizing an opportunity and taking advantage of people and I really believe what Monica did a great job making “househacking” not feel slimy.

[@sofiyalyashenko301]

My husband and I built a duplex in the greater Seattle area and our tenants fully cover our mortgage! It’s the best.

[@solo.life.travels7215]

I'm in north Carolina and just closed on my fully renovated duplex on 10/5. I will move in my side next week. I've received soooo many inquiries about the vacant unit, i will start showing next week. My mortgage is $1232

[@neviast]

You explaind this really well and even though I am nowhere near living like this it is still very interesting seing how people mange their money and property.👍

[@tornminds66]

I tried this twice with my home that I own and I got screwed over. (granted these were one an previous coworker of my fiances and then a *no onger friend* of mine) but long story short we kicked them out. Sucks to not have that extra income, but in the long run happy to not have drama

[@xoxjelloxox]

they didn’t pay rent?

[@russeln2460]

I just saw your veneers video. Did you ever get those lateral incisors redone? Would love to see a follow-up video on that. Thanks

[@CharlyCD93]

House hacking is OP. If you use MLM tactics it’s even better! You teach the tenets about the process then y’all buy a new property. It scales pretty quickly and best of all it is actually a useful “product”. Most MLMs sell bull but this is housing, we all need housing.

[@cvstaff22]

This was really helpful! I’m literally about to do the same thing with a townhouse of similar setup!!

[@DarzRojas]

I bought a duplex in my area after graduating high school and lived in one side with roommates and had a renter in the other side. Never heard of it as house hacking but yes such a great thing to do if you can!

[@kenbrunet6120]

imo that's not house hacking. You're basically an owner occupied lanlord. Ppl have really been warping what house hacking means over the laster few years. But i guess that's what ppl do. manipulate words to fit something that will get money out of as many ppl as possible. Regardless what the term used for what you did. As long as it works for you, you made a good decison!

[@AwakenbyLightCreations]

Thank you for all the numbers!

[@MsCdngrrl]

I'm wondering how your kitchen reno is going and would love to see the results in a video.

[@beedee4890]

Great video! My friend was able to own his first house that way. Now he doesnt have live-in tenants, but makes money from avocado trees on his property, and allows people to store items on his land

[@jasonjosephlee]

Love the house hacking option, if you buy 3-4 units and live in one of the smaller units; your tenets are pretty much paying your mortgage.

[@hbautomotivechannel6283]

Hi Monica, can you show us the vlog of the day you bought your Porsche Macan?

[@Jessica-xn1oy]

Great video. I thought you bought the house with Shelby. Can you do a video on the financial splits? That would be so helpful for me as I think im thinking of buying with a friend just to get ino the housing market.

[@Jeroen74]

Afaik Shelby only co-signed the mortage, but does not pay. They do split the Palm Springs house and the lease on Shelby's apartment though.

[@84tand]

Even if your only breaking even on a rental, it’s still a good investment. If you can get a 15 year mortgage, and charge enough in rent to cover the mortgage, then you can sell it at the end of the 15 years. You’ll get the whole principle, plus the appreciation of the property. You would just have to be patient.

[@kristenhaynes]

I'm a Realtor in Charlotte, NC, and in Charleston, SC for over 32 years. One of the best videos I have seen on house hacking- I'll share it on my social media channels for my first-time buyers. You are adorable! Thanks for the tip on Cubicassa, also- I'll check it out! Thank you! Kristen Haynes Realty Pros

[@jaredtheboss]

How did you find the tenants? Did you make them do a background check and sign a lease? Where do you find the tenants?

[@ivannightly1919]

sounds great as long as house prices rise we have a correction every 10-20yrs sometimes drastically this often affects the rental market but renting to help cover a mortgage is am excellent strategy it was suggest to me 30yrs ago Chis made an apartment in his basement and rented the main floor because it brought in the most cash

[@VeggiesbyEos]

I think you got lucky honestly because I've had quite a few messy roommates 🤣

[@StephenOshea]

very nice video thanks for posting

[@brooke8888]

I’m trying this but most HOAs in Northern California are against it bc the circulation is bringing down the value of the complex unless you live in a single family home.

[@joannathatcares]

Stay away from HOA

[@christopherdriving6425]

Well that's pretty awesome. You set yourself up well.

[@BasicMemory]

Great video.

[@webuyhousesdenvercolorado]

Doing it myself. It actually wasn't popular for a VERY long time until maybe 2020 when it really popped off in popularity. It's why the #1 homebuyer demand is the first time homebuyers. Loved this video!

[@GeographicallyFree]

It was actually incredibly common in New Hampshire back in the 70's. The Victorian era homes made it super easy.

[@a1stbornunicorn]

I appreciate your honesty in revealing personal financial decisions you made to help get you where you are today. I'm kinda shocked with the amount of negative comments on this video. These are really good tips that people don't usually divulge and I feel like they're all just shooting the messenger. You should be proud of yourself!

[@samarneson9475]

loved this

[@kaylasmith6581]

You really need to come to Salt Lake City. We are growing so fast we are outgrowing our state. It’s another one of those “smaller” big cities. There’s headquarters for many major businesses here, huge HUGE tech industry, so much entrepreneurship. The real estate is insane here, it’s so diverse in ecosystems, and there’s SO MUCH to do. Northern Utah is lush, mountain vibes and southern Utah is desert. We have 7 national parks within a 5 hour drive (5 of those IN the state). We have several major universities. I really can’t say enough good things about it. Please come. I would love to host you and show you around!

[@WHFox-gk3fy]

dope video!

[@richardcole2432]

Despite the economic crisis this is still a good time to invest in silver and crypto, investing in different streams of income in other not to depend on Government for funds and avoid all the chitchat about the inflation

[@felixwallace1811]

People prefer to spend money on liabilities,Rather than investing in assets and be very profitable

[@cutesparkle3228]

You're so correct! Save, invest and spend for necessities and a few luxuries relatives to on's total assets ratio

[@samhunt1384]

Despite the Economic recession ,I'm so happy☺️. I have been earning $ 60,000 returns from my $6,000 on short term

[@agadamiracle9330]

How do you do that?. I'm interested??

[@samhunt1384]

Wow, I'm just shocked you mentioned Expert Margaret thought am the only one trading with her

[@TheCinnamondemon]

you didnt consider maintenance/repair/utilities in your expense analysis

[@kristinrodriguezrealtordmv3434]

That's because she lives (lived) there. Everyone who owns a home and lives in it has to pay maintainence and utilities

[@Y.asmin12]

“Floor plans should be free” … you can pay to a drafter, architect or engineer too 😢, we don’t expend years in college for nothing

[@joannathatcares]

How about if you do? Sorry

[@madhatter139]

Your video @ 6:18 starts going wonky. Seems like there's a sort of visual reverb; not sure if unsteady holding or what, but is very shaky.

[@RebeccaABeaudoin]

Love this for you

[@Jeroen74]

I like that house you showed, looks cozy.

[@deborahcaldwell9775]

Great whole story

[@ohthechitchat]

There is a tax free allowance to rent out a room in your house in the UK So maybe there is the same for home owners in some US states.

[@silverlightphotoco]

Hi! I just started doing real estate for my photography business (I'll be covering Seattle-Tacoma) and I really appreciate that CubiCasa link (just created an account)!!

[@shakurvariawa8315]

US rental prices aren't real. 900 dolans for a small ass room. crazy

[@BreezyRenee333]

You're basically living with your landlord.

[@samplott7632]

😂😂😂

[@samplott7632]

Hey 👋 how are you doing hope sweetheart ❤❤

[@Rosalieburke]

i’m super interested in buying a duplex in the Denver area and air bnb ing the other side!

[@AYK894]

Hi, when is the video with the update on Sidney Sweeney's home coming?

[@ct8018]

Did you and Shelby buy a house in Sonoma County? Met a notary in Windsor who said she was at a signing for two influencers…

[@camcam3087]

Healdsburg is really up and coming. Petaluma also has its special charm and more sense of community. I’m so glad I live here

[@ClaytonHepler]

what is your camera?

[@kseniaksu4007]

ok what if someone that does not want to take Your rules (if the house is yours) and continues living there on Their rules about the house - the easiest, or the hardest - they delay payment.

[@livingindenvercol]

You go through the eviction process just the same if they weren't living with you. Or just don't continue the lease. Most house hacks work best with short term leases to professionals. But yeah, you have to give us some comforts to house hack for sure!

[@kseniaksu4007]

@@livingindenvercol they first pose as professionals, from Mexico. Then, they party, Not clean and you clean and are the only one in house who doesn't participate in parties. Then, they call agent and say, you don't clean and you are the trouble. You break the lease, move and pay all huge legal fees. He was "psychoanalyst" by job, or plain, charlatan. No education. But a part time job at a university, to get a lease, from which he was later fired. There are all kinds of swindlers and they check boxes for "professionals".

[@livingindenvercol]

@@kseniaksu4007 yeah, I could see scams like that being out there unfortunately.

[@tommy5445]

So cool

[@kellyhou9594]

I really love this idea, but I have to say that you should still check references or their credit score just to be on the safe side. One bad experience will definitely hurt you badly.

[@lordofmoney823]

You speak Indonesia?

[@Teganwinters1]

Yeah we rent out rooms in our house and live in a buss on the property the whole rent is being paid and we’re living free all our income is just going to savings

[@GeometricMason]

You have to be rich enough to buy the place in the first place. Then you get richer as others pay your mortgage. This is an example of how the rich get richer and the poor stay poor.

[@beeshep]

Please don't believe this. Things like FHA loans make this comment false - you can buy a house for as little as 3-3.5% down. You do need to have a good credit score (there are many ways to rebuild credit (some free, some not free)) & a way to cover the costs (one of these ways is "house hacking") but there are ways to buy a house without being rich. There is hope

[@GeometricMason]

@@beeshepThe problem with a low down payment mortgage is when the market tanks you're upside-down... like when I bought with a zero-down VA loan in August of 2007. It took TEN YEARS to dig out of that hole.

[@HCvacations]

I thought seattle was cheaper than LA, but I guess not

[@zigsxx]

Could you explain your take on the ethics of house hacking? Landlords make a living off of other people's income and basic need for housing.

[@sterlingmarshel6299]

people have to live somewhere. not sure what ethics have to do with renting a room to someone who needs a place to live. A lot of people can't buy homes because of the downpayment. Some will only be in a city for a couple of years - a job relocation, etc. why would you take a risk on the decline of real estate ( yes it goes down) and lose money if you are only in a place for a limited time. You could easily lose your downpayment and more if you buy the top of a real estate cycle

[@User84030]

@@sterlingmarshel6299 The reason a lot of people can’t buy homes is because of the inflated home prices due to large investors buying up all the real estate and having renters there to pay the mortgage, which in turn drives up the rental prices too. Real estate is still a safer investment and better return than a lot of the stock market, and lots of people consider it a safe place to park their $$$, but it comes at the expense of locals not being able to purchase a home and grow their lifetime wealth.

[@ProfessionalRageBaiter]

it’s not unethical. landlords provide a home for rent for individuals who can go look elsewhere and it’s not like it’s the only place they can rent or own. if something breaks it’s upon the landlord to fix the issue and the tenant doesn’t pay for repairs. tenants save money by not worrying about repairs. they have more liberty by only renting for a period of time and they can go somewhere else. with a mortgage you’re stuck there unless you want to sell the house/ property.

[@nicoleh.6587]

I would say she’s also taking the risk of owning a house at the same time. In other words, all the responsibilities for upkeeping and maintenance, not to mention the potential risk of her house going down in value, however small that is. She’s just smart enough to take a calculated risk.

[@truthfuturist]

Bingo....

[@ROYALTYHAULING]

How old were you when you first started house hacking?

[@DJARVINDOFFICIALAK]

good

[@DJARVINDOFFICIALAK]

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[@ElblogdeAntonio]

How do people have that much money to buy a house in the first place?

[@ashleypanka]

I miss life before everything had to become some kind of money-making opportunity lol

[@aptservicesllc3084]

😂😂😂😂

[@systemuser8701]

*Dog* provides Security, Foot warming, and lots of extra hair. His Rent is only $551.89 !!!

[@youknowwithMartyKauffman]

Graham is going to have to react to this now

[@spicynomad]

be careful.i heard another tenant killed her landlord.

[@Hereismytwocents2011]

A million dollars for that?!

[@MonicaChurch]

seattle's crazy!

[@skyheart1495]

20% deposit on a 700K house is 140k that's why people have to keep renting or get locked into these 'schemes'. Honestly the best way to get out of this is to go buy a block of land with first home buyers and build a house or buy the cheapest house and renovate just to get your foot in the door. From there you can grow your own capital instead of helping someone else pay off their mortgage.

[@MonicaChurch]

Building a house still take a lot of cash! Construction loans can be tough to get, especially for a first time homebuyer.

[@hudsonjamesc]

Its called a master bedroom

[@heidikamrath1951]

Realtors are getting away from the term “master.” They now call it “primary.” She called the bathroom an “en suite,” which is a fancy French (and many other parts of the world) way of saying it has a toilet, tub, and shower.

[@michellethompson5372]

LOL Only the younger generation would come up with a slick name 'House hacking' for something that has been around for generations. Whether you are a homeowner or renter, people have always tried to lower their financial obligations by getting one or more roommates. You make it sound like this is something new, when in reality it is just a new slang phrase for something that has been around for as long as people have been purchasing or renting a home. I suppose if your audience is young and haven't ever been in a rental situation before, this video would be helpful, but otherwise it is just a new name for an old idea.

[@markperez1078]

What’s the name of the old idea??

[@mahoganydrive]

@@markperez1078 I think it was just called renting out a room😆

[@meganelise2186]

Hey Michelle! I went to your channel to find YOUR videos on helping people and teaching people things they might not have ever heard of.. but I couldn’t find them?! So I figured since you have it all figured out, you could show people the way of the world! You clearly have strong opinions and want to express them. Go for it!

[@karaontheinternet]

She says this within the first 30 seconds!

[@SimplyChillin.]

Isn’t this called subletting? Or like getting a roommate?

[@MsEmzRox]

This is just capitalism lmao

[@rw7717]

Do you work and get a paycheck?

[@heidikamrath1951]

From the title, I thought there would be something more creative than simply renting rooms. Like using your beautiful livingroom as an area for someone to rent as backdrop for a photo shoot. Or have parties for your team there which could be billed to your corporation. I have a neighbor-friend who is in the outdoor furniture business and she has furniture on various patios at her home and often brings clients over to see/test it; she mentioned that there is some type of a $$ benefit to doing that but I don’t know the details.

[@tophat2002]

House hacking is a scam

[@Play-gi8uk]

Yjm

[@FarajiMwacha-up9jb]

Muziki

[@user-hs2kh6qr7i]

I love you a head b****❤️

[@IridiumZero]

Step 1: Be an attractive, blonde female.

[@hipsterhildog]

So exploiting people's need for housing by making them pay your mortgage? That's what I'm getting from this video.

[@MonicaChurch]

I personally think thats way off! It would've been so irresponsible of me to keep my home empty just not using it. I was able to provide a comfortable space for people in a market that has a such a housing shortage, I didn't overcharge- honestly charged a little under market rate. Did you watch the video? Or just read the title?

[@jujubees]

What do you think apartments are? It's people renting out a space to someone else hence having them pay their mortgage.

[@sterlingmarshel6299]

what is the difference between renting a room or renting an apartment? You are still paying someone's mortgage.

[@truthfuturist]

Bingo.....

[@brucewayne2955]

How the dafuq does someone survive paying $3k or $3.5k a month? Who are you renting to? CEOs? 😅

[@bretttaylor1448]

Your "Artificial Intelligence" is you, you know you are usings excuses. The sooner the better sweetie!

[@vancespellman6800]

Hey Monica my name Vance is there a website for this let me know I wanna do this and get started quickly thank u let's stay in touch just subscribe to u

[@alexandermuir8160]

Excellent video Monica. It's something that was practiced in the U.K. in the 70's onwards. Nice to see it in practice. Obviously, you never had issues with them paying as your still friends. Did you chase them at all, or did they pay into an account? How did you risk the temptation to wander downstairs and check out the house from time to time? Here in Australia, there are many landlords that make uninvited visits and annoy the renters with their demands. Imagine living in the same house. So, can I ask, but you don't have to answer, how much did you knock off the mortgage principle in the time you did the house hacking? How did you deal with repairs/complaints. Can I link to this video? Some of my clients might find this very interesting. They tend to be well off middle management Engineers upwards with a bit of cash. 🦘🦘🪃🪃😉😉

[@nancydineen6797]

I always appreciate your transparency with finances.

[@sailormoon296]

Thanks for being sooo real!! I thought the title was too good to be true and thought this video might be gimmicky, but you kept it real the entire time!

[@poofiebaku3003]

It’s so awesome that you were able to generate an income from extra space. The timing was so good for you when you were single and willing to do it. And so lucky you had good renters. That is really the key and that can be hit and miss.

[@DJARVINDOFFICIALAK]

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