House hacking has become a popular term over the past couple of years. And there’s a measurable reason for that. As home prices have peaked and buyers are faced with higher mortgage payments, they’ve used the house hacking strategy to significantly subsidize their housing costs. This results in thousands of dollars saved a month and tens of thousands of dollars a year left for you to invest or stash away.

But what is house hacking? House hacking is a strategy where homeowners rent out extra rooms or units on their property. This could look like someone converting an office into a bedroom to rent out, turning an ADU into a studio, or renting out three of the four units in a quadplex. No matter how you house hack, there’s a good chance you’ll either lower your mortgage payment significantly, break even, or make money on the side.

Don’t know where to start? No need to worry, Henry is here! He’s a house hacking master and even sold his first primary residence just to rake in the house hacking savings. He knows what types of properties work best for house hacking, how to find an investor-friendly agent who can help you find the perfect property, and which type of financing is house-hacker preferred. Prepare to deeply discount your monthly mortgage costs!

~~~~
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Find an Investor-Friendly Agent in Your Area:
https://www.biggerpockets.com/agent/match?utm_source=youtube&utm_medium=video&utm_campaign=agent_finder_q2_2022
~~~~
Work with House Hack-Friendly Mortgage Lenders:
https://www.biggerpockets.com/loans
~~~~
Grab Your Copy of “The House Hacking Strategy”:
https://store.biggerpockets.com/products/the-house-hacking-strategy?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
The #1 Way to Invest in Real Estate in 2022 (House Hacking 101)
https://youtu.be/5x_T4Yzm-pI
~~~~
A Beginners Guide to Hack Your Housing and Live for Free:
https://www.biggerpockets.com/blog/2013-11-02-hack-housing-get-paid-live-free?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Lender Websites Mentioned in the Video:
Fannie Mae: https://www.fanniemae.com/
Freddie Mac: https://www.freddiemac.com/
NACA: https://www.naca.com/
~~~~
Follow Henry on Instagram:
Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/
~~~~
Connect with Henry on BiggerPockets:
https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 House Hacking Explained
02:52 Low Money Down
03:53 Cheaper Over the Long-Term
07:10 How to House Hack
08:06 Finding House-Hackable Properties
10:36 How to Buy Your House Hack
14:12 Start Living for Less!

#biggerpockets #onthemarket #henrywashington