))
House Hacking
Manage episode 325163869 series 3306506
Content provided by Todd Christensen. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Todd Christensen or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
Season 2: Episode #10
House hacking, Jack Allweil of Fired-to-FIRE.com
Jack Allweil, founder of Fired-to-FIRE.com started house hacking by renting out unused rooms in the house he bought after losing his job in Charlotte, NC. Within a few years, he had purchased 10 “doors” (rental units) back in his home state of Michigan plus a short-term rental property in Myrtle Beach, SC. In this episode, Jack shares his story along with the lessons he learned along the way.
- Choosing the career of an actuary
- What an actuary does and who they typically work for
- How a trip to Europe changed his personal and financial life
- Simple ways Jack’s parents encouraged financial independence without formally talking about it.
- The value and security of having some money in the bank when facing unemployment
- The power of reading and watching videos about personal finance and personal economics
- How Jack started house hacking in 2017 by finding a home in foreclosure and financing the down payment with a 401K loan
- Tools to find and screen roommates
- Maximizing the rents and minimizing the financing costs
- Challenges of house hacking, splitting utility bills, and going to mediation
- House hacking as a learning opportunity through experience, podcasts, and other sources
- Expanding to three homes in a different state using Bigger Pockets strategy
- Diversifying with a short-term rental (condotel) in a tourist destination
- The challenge of finding cleaners when going with Airbnb
- Opportunities for getting into investment properties with owner-financed
- Dealing with long-distance real estate requires setting up systems
- Overestimating the influence you have on others’ lives but underestimating the influence we can have on our own lives
Links referred to in the episode, and how to connect with the guest, Jack Allweil:
Robert Kiyosaki and Personal Finance Statement
Subscribe to the Money Fit Show today wherever you get your podcasts! You can also find us at moneyfit.org/podcast
We would appreciate it if you would click the star or thumbs up to give us a like for today’s episode.
Connect with the Money Fit Show:
Twitter: @MoneyFitbyDRS
Facebook: MoneyFitbyDRS
Email: Podcast@MoneyFit.org
65 episoade
Distribuie
