October 25, 2024

How to House Hack a Property You Don't Own!

9 minutes

Summary

David Pere shares his experience with house hacking a rental property by subletting, allowing him to live for free in San Diego County for two years. He rented a four-bedroom house and sublet two of the bedrooms on Airbnb while occupying the master bedroom and using the office space. He was able to save $66,000 in Basic Allowance for Housing (BAH) during that time. Pere also highlights the tax benefits of house hacking, as he was able to write off a significant portion of the home as business expenses. He encourages listeners to consider house hacking as a strategy for achieving financial freedom.

Takeaways

House hacking a rental property by subletting can allow you to live for free and save money.

Consider renting a larger property and subletting some of the rooms on platforms like Airbnb.

Take advantage of tax benefits by writing off a portion of the home as business expenses.

House hacking can provide a cushion for achieving financial freedom and investing in real estate.

Chapters

00:00 Introduction and Screen Share

00:38 House Hacking a Rental Property

02:02 Tax Benefits of House Hacking

03:52 The Mentality of House Hacking

05:20 Living for Free and Investing in Real Estate

05:49 Conclusion and Call to Action

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My name is David Pere, I am an active duty Marine, and have realized that service members and the working class use the phrase "I don't get paid enough" entirely too often. The reality is that most often our financial situation is self-inflicted. After having success with real estate investing, I started From Military to Millionaire to teach personal finance and real estate investing to service members and the working class. As a result, I have helped many of my readers increase their savings gap, and increase their chances of achieving financial freedom! - Click here to SUBSCRIBE: https://bit.ly/2Q3EvfE to the channel for more awesome videos!

THIS SITE IS INDEPENDENTLY OWNED AND OPERATED. ALL OPINIONS EXPRESSED HEREIN ARE MY OWN. THE VIEWS EXPRESSED ON THIS SITE ARE THOSE OF THE AUTHOR OR THE AUTHOR’S INVITED GUEST POSTERS, AND MAY NOT REFLECT THE VIEWS OF THE US GOVERNMENT, THE DEPARTMENT OF DEFENSE, OR THE UNITED STATES MARINE CORPS.

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