Does a successful house hack mean living for free? No! For example, if you are currently paying $2000/month in rent, every dollar you spend on your monthly rent is gone forever. Now, let’s say you find a house hack that decreases your living expenses to $1500/month and still cash flows after moving out. That’s a win in our book.
- You decreased your living expenses.
- The money you spend per month goes towards your mortgage principal, not rent.
- You purchased a future rental property that will create a solid runway for long-term wealth creation.
Click here to listen to a podcast where we interview Ben and Alyson Einspahr about their first house hack experience.