House hacking might be the easiest way to get into real estate. This beginner-friendly investing strategy involves little risk, works with several types of properties, and can cover your entire mortgage. But don’t just take our word for it—today’s guest host was able to build and scale his real estate portfolio using this strategy!
Welcome back to another Rookie Reply! In today’s episode, Ashley and Noah Bacon are zeroing in on house hacking questions from the BiggerPockets Forums. First, can you create $1,000, $2,000, $3,000, or more in monthly cash flow just by house hacking? How long would this take and how many doors would you need? The answer might surprise you! We also discuss LLCs, whether you need one, and what you should know before transferring a property from your personal name. Finally, you’ll learn which properties make the BEST house hacks and what to do when you can’t find the right deal!
Ashley:
Welcome to the Real Estate Rookie podcast, where every week, three times a week, we bring you the inspiration, motivation, and stories you need to kickstart your investing journey. My name is Ashley Care and today I am joined by Noah Bacon. You actually might recognize him because of an episode he does on YouTube called How I Started, and this is going to be aired on the Rookie podcast also. But let’s give a big welcome to Noah.
Noah:
Hey Ashley, thank you so much for having me today. It’s great to see you again.
Ashley:
Yeah, so just in case the audience hasn’t listened to how I started episode that we aired on the Rookie Channel, tell our audience a little bit about it and about you.
Noah:
Yeah, absolutely. So we host over on the Real Estate Rookie YouTube channel, how I started, and it’s exactly in the title of the show. So what we do is interview first time or even aspiring real estate investors on how they got started on their first property, their second property, and typically there’ll be about five to 10 years down the road now…