How I Was Able To Use House Hacking To Live For Free 

Thank you for watching! Comments were disabled for the first day because I accdidentally set it to "made for kids", feel free to leave a comment!

A few of the comments have already typed out thoughts similar to mine, but I'll mention that these new terms (house hacking) that are essentially rebranding standard terms (renting, subletting, landlords) is just a way for people to present what they're doing in a way that doesn't illicit as much animosity and criticism as the standard terms too. Example: someone could say "I'm a landlord" and someone may have a positive or negative association with that word. However, if someone says "I practice house hacking by allowing others to live in the space I own so we can all have less expenses" then it kind of disguises the fact that someone's just a landlord, and it's a tactic to make what they're doing seem more flowery and approachable. This happens in real estate all the time and it's easy to see through...

Very smart showing people how to do this, and showing a place that works. Thank you. I tried it once. Choosing the right roommates and not having them thrust upon you makes a huge difference.

Thanks for being sooo real!! I thought the title was too good to be true and thought this video might be gimmicky, but you kept it real the entire time!

you didnt consider maintenance/repair/utilities in your expense analysis

House hacking is OP. If you use MLM tactics it’s even better! You teach the tenets about the process then y’all buy a new property. It scales pretty quickly and best of all it is actually a useful “product”. Most MLMs sell bull but this is housing, we all need housing.

I loved this video. Unlike many real estate RU-vid videos, you actually ran the numbers and showed your exact experience of your house as well as real examples on how a house hack worthy property may look like. 🙌

My husband and I built a duplex in the greater Seattle area and our tenants fully cover our mortgage! It’s the best.

It’s so awesome that you were able to generate an income from extra space. The timing was so good for you when you were single and willing to do it. And so lucky you had good renters. That is really the key and that can be hit and miss.

This was popular in the northeast back in the 70's. My parents and most of our neighbors were doing it. Although it wasn't called house hacking back then.

This is so fascinating, and such a great way to save money each month and be able to pay off your home quicker!

I always appreciate your transparency with finances.

Glad comments came back on? This was a very interesting one Monica. Really enjoyed it a lot. Thinking of building a house outside of Charleston, SC to retire but figure we’ll rent it first until we are ready to be there full time.

I house hack as well! Thank you for sharing your number breakdown. I should definitely do a breakdown for my situation- I live for FREE and I have a completely separate space🤙🏼 Gotta do what you gotta do to get ahead 😎

Love the house hacking option, if you buy 3-4 units and live in one of the smaller units; your tenets are pretty much paying your mortgage.

Despite the economic crisis this is still a good time to invest in silver and crypto, investing in different streams of income in other not to depend on Government for funds and avoid all the chitchat about the inflation

How did you find the tenants? Did you make them do a background check and sign a lease? Where do you find the tenants?

Hi Monica. love your vids. May I know what camera are you using? the quality is so good. 😊

I tried this twice with my home that I own and I got screwed over. (granted these were one an previous coworker of my fiances and then a *no onger friend* of mine) but long story short we kicked them out. Sucks to not have that extra income, but in the long run happy to not have drama

I bought a duplex in my area after graduating high school and lived in one side with roommates and had a renter in the other side. Never heard of it as house hacking but yes such a great thing to do if you can!

Great video. I’ve also house hacked too and it’s a mix of successes and headaches. I would’ve liked to know if you included utilities or didn’t. Also, I think your mic may be picking up a radio station or something 😊

Very amazing 👍🏻🤝 Thank U for your advice about realtor state position 👍🏻

“Floor plans should be free” … you can pay to a drafter, architect or engineer too 😢, we don’t expend years in college for nothing

Thank you for all the numbers!

I just saw your veneers video. Did you ever get those lateral incisors redone? Would love to see a follow-up video on that. Thanks

The name of the video got me worried, but the video was extremely insightful and informative. There’s a fine line between seizing an opportunity and taking advantage of people and I really believe what Monica did a great job making “househacking” not feel slimy.

You have to be rich enough to buy the place in the first place. Then you get richer as others pay your mortgage. This is an example of how the rich get richer and the poor stay poor.

I'm wondering how your kitchen reno is going and would love to see the results in a video.

Even if your only breaking even on a rental, it’s still a good investment. If you can get a 15 year mortgage, and charge enough in rent to cover the mortgage, then you can sell it at the end of the 15 years. You’ll get the whole principle, plus the appreciation of the property. You would just have to be patient.

You explaind this really well and even though I am nowhere near living like this it is still very interesting seing how people mange their money and property.👍

You're basically living with your landlord.

I’m trying this but most HOAs in Northern California are against it bc the circulation is bringing down the value of the complex unless you live in a single family home.

sounds great as long as house prices rise we have a correction every 10-20yrs sometimes drastically this often affects the rental market but renting to help cover a mortgage is am excellent strategy it was suggest to me 30yrs ago Chis made an apartment in his basement and rented the main floor because it brought in the most cash

This was really helpful! I’m literally about to do the same thing with a townhouse of similar setup!!

US rental prices aren't real. 900 dolans for a small ass room. crazy

ok what if someone that does not want to take Your rules (if the house is yours) and continues living there on Their rules about the house - the easiest, or the hardest - they delay payment.

Great video. I thought you bought the house with Shelby. Can you do a video on the financial splits? That would be so helpful for me as I think im thinking of buying with a friend just to get ino the housing market.

loved this

I appreciate your honesty in revealing personal financial decisions you made to help get you where you are today. I'm kinda shocked with the amount of negative comments on this video. These are really good tips that people don't usually divulge and I feel like they're all just shooting the messenger. You should be proud of yourself!

Great video.

Great video! My friend was able to own his first house that way. Now he doesnt have live-in tenants, but makes money from avocado trees on his property, and allows people to store items on his land

Doing it myself. It actually wasn't popular for a VERY long time until maybe 2020 when it really popped off in popularity. It's why the #1 homebuyer demand is the first time homebuyers. Loved this video!

very nice video thanks for posting

Hi Monica, can you show us the vlog of the day you bought your Porsche Macan?

dope video!

Your video @ 6:18 starts going wonky. Seems like there's a sort of visual reverb; not sure if unsteady holding or what, but is very shaky.

I think you got lucky honestly because I've had quite a few messy roommates 🤣

I really love this idea, but I have to say that you should still check references or their credit score just to be on the safe side. One bad experience will definitely hurt you badly.

Well that's pretty awesome. You set yourself up well.

Love this for you

Did you and Shelby buy a house in Sonoma County? Met a notary in Windsor who said she was at a signing for two influencers…

You really need to come to Salt Lake City. We are growing so fast we are outgrowing our state. It’s another one of those “smaller” big cities. There’s headquarters for many major businesses here, huge HUGE tech industry, so much entrepreneurship. The real estate is insane here, it’s so diverse in ecosystems, and there’s SO MUCH to do. Northern Utah is lush, mountain vibes and southern Utah is desert. We have 7 national parks within a 5 hour drive (5 of those IN the state). We have several major universities. I really can’t say enough good things about it. Please come. I would love to host you and show you around!

I'm a Realtor in Charlotte, NC, and in Charleston, SC for over 32 years. One of the best videos I have seen on house hacking- I'll share it on my social media channels for my first-time buyers. You are adorable! Thanks for the tip on Cubicassa, also- I'll check it out! Thank you! Kristen Haynes Realty Pros

what is your camera?

There is a tax free allowance to rent out a room in your house in the UK So maybe there is the same for home owners in some US states.

Hi, when is the video with the update on Sidney Sweeney's home coming?

Could you explain your take on the ethics of house hacking? Landlords make a living off of other people's income and basic need for housing.

Great whole story

You speak Indonesia?

i’m super interested in buying a duplex in the Denver area and air bnb ing the other side!

I like that house you showed, looks cozy.

So cool

I miss life before everything had to become some kind of money-making opportunity lol

LOL Only the younger generation would come up with a slick name 'House hacking' for something that has been around for generations. Whether you are a homeowner or renter, people have always tried to lower their financial obligations by getting one or more roommates. You make it sound like this is something new, when in reality it is just a new slang phrase for something that has been around for as long as people have been purchasing or renting a home. I suppose if your audience is young and haven't ever been in a rental situation before, this video would be helpful, but otherwise it is just a new name for an old idea.

How old were you when you first started house hacking?

Yeah we rent out rooms in our house and live in a buss on the property the whole rent is being paid and we’re living free all our income is just going to savings

*Dog* provides Security, Foot warming, and lots of extra hair. His Rent is only $551.89 !!!

Hi! I just started doing real estate for my photography business (I'll be covering Seattle-Tacoma) and I really appreciate that CubiCasa link (just created an account)!!

20% deposit on a 700K house is 140k that's why people have to keep renting or get locked into these 'schemes'. Honestly the best way to get out of this is to go buy a block of land with first home buyers and build a house or buy the cheapest house and renovate just to get your foot in the door. From there you can grow your own capital instead of helping someone else pay off their mortgage.

How do people have that much money to buy a house in the first place?

good

I thought seattle was cheaper than LA, but I guess not

be careful.i heard another tenant killed her landlord.

Its called a master bedroom

A million dollars for that?!

This is just capitalism lmao

House hacking is a scam

Muziki

Graham is going to have to react to this now

Yjm

From the title, I thought there would be something more creative than simply renting rooms. Like using your beautiful livingroom as an area for someone to rent as backdrop for a photo shoot. Or have parties for your team there which could be billed to your corporation. I have a neighbor-friend who is in the outdoor furniture business and she has furniture on various patios at her home and often brings clients over to see/test it; she mentioned that there is some type of a $$ benefit to doing that but I don’t know the details.

So exploiting people's need for housing by making them pay your mortgage? That's what I'm getting from this video.

Step 1: Be an attractive, blonde female.

I love you a head b****❤️

How the dafuq does someone survive paying $3k or $3.5k a month? Who are you renting to? CEOs? 😅

Your "Artificial Intelligence" is you, you know you are usings excuses. The sooner the better sweetie!

Hey Monica my name Vance is there a website for this let me know I wanna do this and get started quickly thank u let's stay in touch just subscribe to u

Excellent video Monica. It's something that was practiced in the U.K. in the 70's onwards. Nice to see it in practice. Obviously, you never had issues with them paying as your still friends. Did you chase them at all, or did they pay into an account? How did you risk the temptation to wander downstairs and check out the house from time to time? Here in Australia, there are many landlords that make uninvited visits and annoy the renters with their demands. Imagine living in the same house. So, can I ask, but you don't have to answer, how much did you knock off the mortgage principle in the time you did the house hacking? How did you deal with repairs/complaints. Can I link to this video? Some of my clients might find this very interesting. They tend to be well off middle management Engineers upwards with a bit of cash. 🦘🦘🪃🪃😉😉

I always appreciate your transparency with finances.

It’s so awesome that you were able to generate an income from extra space. The timing was so good for you when you were single and willing to do it. And so lucky you had good renters. That is really the key and that can be hit and miss.

Thanks for being sooo real!! I thought the title was too good to be true and thought this video might be gimmicky, but you kept it real the entire time!