House Hacking  Your Way to Financial Independence

In this article, I did some math on retiring on $60,000 a year. To retire, you needed to save up about 2.7 Million. Now let’s look at things differently.

I will go through how you can achieve a similar income with closely held real estate holdings while having to save vastly less money.

It is simply buying a home and renting out parts of it to cover some or all of the mortgage payments.

What is House Hacking?

Let’s say you focus on purchasing a fourplex. With each of these four families, you make $1,000 a month cash flow while self-managing it.

The Model

I believe this is a discipline that benefits from momentum. When you decide to start, it may take a year to acquire your first building.

How long will it take?

If you purchase on the open market, your purchase price is higher than what anyone else offered.

What is the down side?