BiggerPockets Daily Does House Hacking Still Make Sense?
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Jan 9, 2025 Discover how house hacking can help alleviate soaring housing costs and generate passive income. Learn about various strategies, from renting out a room to setting up an accessory dwelling unit. Get practical tips on preparing your space, understanding landlord laws, and effective marketing. Explore the benefits of out-of-state investments and hear real-life success stories. This guide provides valuable insights for both newcomers and seasoned investors looking to maximize returns while minimizing risks.
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Small Multifamily House Hacking
- Consider house hacking with small multifamily properties.
- Live in one unit and rent out the others using an FHA loan.
Basement Conversions
- Convert your basement into a livable space to generate rental income.
- Ensure the basement is legally compliant and appealing to renters.
ADU House Hacking
- Build an ADU (accessory dwelling unit) on your property for rental income.
- Research local regulations, setbacks, height, and square footage requirements.