Scott Trench - Set for Life
Financial Independence Podcast
The Importance of House Hacking
House hacking is buying a piece of investment real estate that will make sense as a rental property for you after you move out or otherwise using your housing to build wealth. For example, I bought a duplex for $240,000 here in Denver and about late 2014. And so I put down 5% with an FHA loan. My mortgage payment was $1550 and my rents were $1150 from the other side and $550 for my side. So if you're following that, I was collecting $1,700 in rent on a $1550 mortgage.
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