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The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom
Learn to harness the ultimate recession-proof real estate investing strategy―house hacking offers lower-income housing options with incredibly low vacancy rates. House Hacking 101: Don’t pay for your home―hack it and live for free! Savvy investors have been using a clever strategy in real estate for decades―and now, you will learn exactly how to perfect this trade secret! When mastered, house hacking can save thousands of dollars in monthly expenses, build tens of thousands in equity each year, and provide the financial means to retire early. In fact, the average house hacker can turn a single-family home or small multifamily property into a cash-flowing investment. You can collect rent that completely covers your living expenses―and then some! House hacking doesn’t have to be a mystery. Discover why so many successful investors support their investment careers with the house hacking strategy―and learn from a frugality expert who has “hacked” his way toward financial freedom. Serial house hacker Craig Curelop lays out the in-depth details so you can make your first (or next) house hack a huge success. Inside, you will Fans of the Financial Independence, Retire Early (FIRE) movement will love this simple real estate strategy. House hacking makes it easy to save more money, make more money, and accelerate your path to early retirement!
288 pages, Hardcover
First published October 17, 2019
239 people are currently reading
1914 people want to read
About the author
Craig Curelop
2 books21 followersCraig Curelop is the Finance Guy at Biggerpockets.com, a real estate investor, and a huge believer in the Financial Independence/Retire Early (FIRE) movement. As seen in the Denver Post and BBC, he is constantly searching for ways to optimize his life from a time & money perspective, and he loves to share this information with other people in pursuit of financial independence. Craig lives in the Denver, CO and enjoys biking, snowboarding, sports, and hanging out with friends.
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Displaying 1 - 30 of 51 reviews
February 22, 2020
House hacking is essentially buying a property to live in and getting roommates (single fam residence) or tenants for your other unit(s) (multi fam residence) to cover most of your mortgage. The idea is to repeat this process (5-10 years) until your rental income exceeds your living expenses aka achieving financial independence.
The book is very practical and helpful for someone like me who is looking at how to go about buying their first home. For your fist rental, Craig is a big fan of going the FHA route of paying 3.5% down to maximize your ROI. This makes buying a first home a lot less daunting. Overall, it was helpful for me to get a better understanding of financing options, the pros and cons of single fam and multi fam residences, how to screen tenants, what to save for maintenance and repairs, etc.
The book is very practical and helpful for someone like me who is looking at how to go about buying their first home. For your fist rental, Craig is a big fan of going the FHA route of paying 3.5% down to maximize your ROI. This makes buying a first home a lot less daunting. Overall, it was helpful for me to get a better understanding of financing options, the pros and cons of single fam and multi fam residences, how to screen tenants, what to save for maintenance and repairs, etc.
July 29, 2021
Everyone should consider house hacking.
Gamechanging and feasible concept that anyone can use to make work optional.
Gamechanging and feasible concept that anyone can use to make work optional.
October 27, 2019
Book starts great and is very interesting. However, after chapter 3 it seems to to be a rewrite of Brandon Turner’s “The Book on Rental Property Investing.”
July 1, 2020
I got this book because I was curious to know what house hacking was and it wasn't what I thought it would be but I got to know and understand about house hacking through this book. There are lots of tips and tricks, maths and informations and it's a very interesting book. There's a lot to read but will be able to understand the whole process and strategies. I received a free digital copy of this book from NetGalley in exchange for my honest review
September 29, 2022
A fire has been lit under my but. I feel so motivated to try and accomplish the strategies put forward in this book to accomplish financial independence. Hopefully I can ride this high long enough to really achieve it.
October 8, 2022
A well laid out explanation of the why and how to of house hacking for increased passive income and ultimately financial independence. Less time at work, more time with family and friends?? Don’t mind if I do!
March 31, 2020
I understand this is his first book, but the editor didn't do a great job.
It was almost painful to read again and again "I will get to this later" particularly in the first half of the book.
Second, I found that some info is wrong or misleading. When he listed the requirements to get a FHA loan, USDA loan, etc. He mentioned "you need to be a citizen". That is misleading, you can also be a permanent resident to access those types of loans, and considering that some entrepreneurs are immigrants, that should have been clear and specified.
I found a lot of value in the following things:
1. The kind of questions to ask to a contractor.
2. The process for screening tenants. (amazing)
3. Taxes, when he talks about the 1031 exchange and 2 of the last 5 year rule.
I also liked the case studies, however most of them were from single people in their early to mids tweenties. It would have been amazing to read more stories from older people, with families.
The other thing that would have been nice, but he recognized not to have a lot of experience with was related to how to get your SO on board.
In general it was OK, it gives you many important tools, and definetely a reference to look at when you are looking to do a house hack.
It was almost painful to read again and again "I will get to this later" particularly in the first half of the book.
Second, I found that some info is wrong or misleading. When he listed the requirements to get a FHA loan, USDA loan, etc. He mentioned "you need to be a citizen". That is misleading, you can also be a permanent resident to access those types of loans, and considering that some entrepreneurs are immigrants, that should have been clear and specified.
I found a lot of value in the following things:
1. The kind of questions to ask to a contractor.
2. The process for screening tenants. (amazing)
3. Taxes, when he talks about the 1031 exchange and 2 of the last 5 year rule.
I also liked the case studies, however most of them were from single people in their early to mids tweenties. It would have been amazing to read more stories from older people, with families.
The other thing that would have been nice, but he recognized not to have a lot of experience with was related to how to get your SO on board.
In general it was OK, it gives you many important tools, and definetely a reference to look at when you are looking to do a house hack.
August 15, 2020
If you're looking at a new way to earn money, I suggest you read this book.
August 31, 2021
The concept is very interesting, but could be covered in a few blog posts. The idea is simple. Buy a residential building that will allow you to live in and rent part of it.
Most of the book is repetition of “The book on rental property investment” by Brandon Turner.. therefore i would recommend reading the one from Turner instead.
Most of the book is repetition of “The book on rental property investment” by Brandon Turner.. therefore i would recommend reading the one from Turner instead.
December 19, 2021
Be careful when you read this. The book is good for smart readers who can read between the lines and take some good points from it. The author uses a flawed logic where he calculates ROI on cash only without considering a LOTS of effort you have to put into rehab, searching for tenants, keeping the maintenance etc.
His logic goes like this: Stock market returns lousy 7% annual return while if you buy a house for $5000 downpayment and get tenants you achieve $15000 in annual savings which is 200% ROI.
To illustrate how this logic is flawed consider even more illogical example: Buy a suit for $500 (instead of house with a downpayment) get a job paying you $50k annually (you put effort into your job instead of all the work around property and tenants) and you achieved 100x return on your investment.
He doesn't take into consideration that you have to put a lot of effort into searching a property, getting tenants and fix their constant problems to achieve that stellar return he compares with passive investing into index funds.
The book is full of ideal scenarios how the deals will turn out with successful rehab (you increased the value of your property more than you paid for rehab), successful vacancy rate (you have your property full of tenants paying you rent), no problems (your tenants will not break anything) and assuming the market is rising (90% of the time it is, but those 10% of times will burn your entire rental empire when you play with 96.5% loan to value mortgages ... just 5% hick-up in real estate prices will kill you)
His logic goes like this: Stock market returns lousy 7% annual return while if you buy a house for $5000 downpayment and get tenants you achieve $15000 in annual savings which is 200% ROI.
To illustrate how this logic is flawed consider even more illogical example: Buy a suit for $500 (instead of house with a downpayment) get a job paying you $50k annually (you put effort into your job instead of all the work around property and tenants) and you achieved 100x return on your investment.
He doesn't take into consideration that you have to put a lot of effort into searching a property, getting tenants and fix their constant problems to achieve that stellar return he compares with passive investing into index funds.
The book is full of ideal scenarios how the deals will turn out with successful rehab (you increased the value of your property more than you paid for rehab), successful vacancy rate (you have your property full of tenants paying you rent), no problems (your tenants will not break anything) and assuming the market is rising (90% of the time it is, but those 10% of times will burn your entire rental empire when you play with 96.5% loan to value mortgages ... just 5% hick-up in real estate prices will kill you)
July 3, 2023
As others have said, this book is very repetitive at times. Lots of material is repeated throughout the book. There could have been a lot better editing of the book.
As others have also said, this book does have a lot of similar material to Brandon Turner’s book “The Book on Rental Property Investing.” That being said, there is also a good bit of information that is not included in Brandon’s book that is mentioned in this book. This book does offer valuable information on the house hacking strategy specifically. If you are set on house hacking, I recommend reading this book. If you’re just trying to get into real estate in general, I’d definitely go for Brandon’s book.
Along with the case studies at the end of each chapter, this book explains house hacking in a straight-forward and easy-to-understand way. Without over complicating it, Craig expresses REI in a fashion which helps you realize how attainable financial freedom is. You don’t even need a calculator; just use your brain (although a calculator can help).
As others have also said, this book does have a lot of similar material to Brandon Turner’s book “The Book on Rental Property Investing.” That being said, there is also a good bit of information that is not included in Brandon’s book that is mentioned in this book. This book does offer valuable information on the house hacking strategy specifically. If you are set on house hacking, I recommend reading this book. If you’re just trying to get into real estate in general, I’d definitely go for Brandon’s book.
Along with the case studies at the end of each chapter, this book explains house hacking in a straight-forward and easy-to-understand way. Without over complicating it, Craig expresses REI in a fashion which helps you realize how attainable financial freedom is. You don’t even need a calculator; just use your brain (although a calculator can help).
December 6, 2019
I've had the pleasure of knowing Craig for just over a year now and knew that when he published this book I had to read it. Next year, my plan is to purchase a house to live-in while renting out the other units ("A househack") so this was a great opportunity to learn from someone who had already done it on three occasions and who interviewed a number of other people following a similar strategy. Craig does a fantastic job describing and educating the reader on this very powerful investment strategy and I would recommend anyone interested in real estate investing to give this a read.
I found the advice to be thorough, with first hand stories and tips throughout the book. Craig is clearly passionate about the idea of financial independence through real estate investing and writes the book in a way that anyone can understand and follow. He is not afraid to use jokes and metaphors to keep the reading light with varying degrees of success. The style and the format of the book is appropriate, though I thought at times it could have been more concise. Each chapter ended with a solid to-do list and recapped the lessons of the chapter through examples of people's stories which was very effective. All in all, for a first-time author, Craig did a great job with the writing, format, and structure of the book.
Regarding the content, I feel more comfortable with the idea of house hacking and am sure I'll be referencing this book throughout my house hacking journey. Each chapter covers an important stage in the process, from finding deals to managing the property. There was great advice about what to look for with tenants and how to navigate the relationship while you're living on the property. I felt the advice was mostly geared towards major metropolitan areas with a large population of young professionals, which I believe is Craig's target market over in the Denver area. In addition, the math sections were difficult to follow at times, especially as he incorporated the cost savings on renting into his equations. This wouldn't be applicable for those who could live with family like myself or those with subsidized housing. Besides these two points, I thought the material covered was great and very useful. The end of chapter wrap ups and frequent examples were especially helpful and gave the reader a clear road map to follow for their first house hack. Other interesting concepts were the comfort-profitability scale and considering the "cool factor" of potential roommates.
I would definitely recommend this book to others interested in getting started in real estate investing. I've already suggested this book to a few friends and believe it is a great introduction to the very powerful strategy of house hacking.
I found the advice to be thorough, with first hand stories and tips throughout the book. Craig is clearly passionate about the idea of financial independence through real estate investing and writes the book in a way that anyone can understand and follow. He is not afraid to use jokes and metaphors to keep the reading light with varying degrees of success. The style and the format of the book is appropriate, though I thought at times it could have been more concise. Each chapter ended with a solid to-do list and recapped the lessons of the chapter through examples of people's stories which was very effective. All in all, for a first-time author, Craig did a great job with the writing, format, and structure of the book.
Regarding the content, I feel more comfortable with the idea of house hacking and am sure I'll be referencing this book throughout my house hacking journey. Each chapter covers an important stage in the process, from finding deals to managing the property. There was great advice about what to look for with tenants and how to navigate the relationship while you're living on the property. I felt the advice was mostly geared towards major metropolitan areas with a large population of young professionals, which I believe is Craig's target market over in the Denver area. In addition, the math sections were difficult to follow at times, especially as he incorporated the cost savings on renting into his equations. This wouldn't be applicable for those who could live with family like myself or those with subsidized housing. Besides these two points, I thought the material covered was great and very useful. The end of chapter wrap ups and frequent examples were especially helpful and gave the reader a clear road map to follow for their first house hack. Other interesting concepts were the comfort-profitability scale and considering the "cool factor" of potential roommates.
I would definitely recommend this book to others interested in getting started in real estate investing. I've already suggested this book to a few friends and believe it is a great introduction to the very powerful strategy of house hacking.
August 14, 2019
There are hundreds or thousands of books about real estate and how it can change your life. This one is well written, has a good structure, and has some newer elements. These are the modern phenomena of Airbnb, which makes it possible to get more from one single property, as well as Uber etc., that can get you more income as well as letting you know more about an area.
The book has several good examples, and there are lots of good tips as well as discussions of some negative sides.
It also seems to be a commercial for BiggerPockets.com, but as there is free advice to be had there, it's not too bad.
The book has several good examples, and there are lots of good tips as well as discussions of some negative sides.
It also seems to be a commercial for BiggerPockets.com, but as there is free advice to be had there, it's not too bad.
May 28, 2021
To my eye, has two goals 1) convince you that house hacking is a good idea and 2) describe all the details like the types of loans you can get and how to manage tenants in a low-stress way
Wonderful book for goal 2)
For goal 1), I'm sure it's a great idea but I've never seen a sincere attempt to compare all of the tradeoffs in a way that leaves me convinced. Like all these things its a lot of made up numbers that feel manufactured to lead to the conclusion that you'd be ridiculous not to buy a duplex and rent the other side.
Read it on the Amtrak to visit friend in NC who has rentals so that was very cool.
Wonderful book for goal 2)
For goal 1), I'm sure it's a great idea but I've never seen a sincere attempt to compare all of the tradeoffs in a way that leaves me convinced. Like all these things its a lot of made up numbers that feel manufactured to lead to the conclusion that you'd be ridiculous not to buy a duplex and rent the other side.
Read it on the Amtrak to visit friend in NC who has rentals so that was very cool.
July 16, 2019
This is very good and pretty comprehensive. Lots of good info, including short lists of t0-dos and FAQs at the end. Very solid info and case studies to inspire you or just show that it can be done and/or how it has been done. Yes, there's some math, but if you can't handle that then RE is not for you. Plus, the author recommends some tools to assist. I read this quickly because I'm interested in the topic. Minus the incredibly corny dialog examples, this is definitely recommended if you're interested in RE investing.
I really appreciate the ARC for review!!
I really appreciate the ARC for review!!
December 28, 2019
Very thorough, well researched, and readable. 281 pages. I had the opportunity to listen to Craig speak at a monthly get-together here in Fayetteville, N. Carolina. That's how I heard about the book. Great guy. Useful book.
It has something for everyone at every level. And by the time the reader gets to the final chapter, Craig delivers the story of how a notional young professional can house hack her way into FI (financial independence) within five to seven years given everything learned in the book.
It has something for everyone at every level. And by the time the reader gets to the final chapter, Craig delivers the story of how a notional young professional can house hack her way into FI (financial independence) within five to seven years given everything learned in the book.
May 13, 2022
The House Hacking Bible
If you want to be successful with House Hacking this is your book. I read it once and then read it again. I have avoided so many mistakes by following Craig's advice. Craig instilled in me, that I can do this. What surprised me was how enjoyable it has been. This is work, that isn't work. Buy his book. Read his book. Follow his book and success is inevitable. Good luck.
If you want to be successful with House Hacking this is your book. I read it once and then read it again. I have avoided so many mistakes by following Craig's advice. Craig instilled in me, that I can do this. What surprised me was how enjoyable it has been. This is work, that isn't work. Buy his book. Read his book. Follow his book and success is inevitable. Good luck.
May 5, 2020
This is a really good insight into “House hacking” including frequently asked questions, short lists, and to-do lists which are really helpful. Useful if you are new to learning about using your house to make more money or investing in property. Particularly good if you are a first-time buyer or investor looking to make the giant leap onto the property market.
There could be a little more information on all of the costs involved rather than just mortgage payment v rent collected (e.g. repairs / vacant tenancies etc) to give a more rounded overview but this provided a good guide book overall.
There could be a little more information on all of the costs involved rather than just mortgage payment v rent collected (e.g. repairs / vacant tenancies etc) to give a more rounded overview but this provided a good guide book overall.
June 28, 2020
Very useful book, highly recommended for anyone trying to enter real estate and feeling like it's out of reach. Unless you live in a major urban market, that's usually not true. My family, my in laws, my husband and I have been house hacking long before I ever heard the term. I still found the book useful!
November 25, 2020
The idea of the book is simple, like a reverse UNO card:
- Stop paying rent
- Buy a house right now with little to no money
- Find tenants and make them pay
Though sounds impossible, this is very possible (read the book).
One problem I have is that the book constantly tries to sell me this idea with a bunch of case studies and reiterations of how wonderful house hacking is. Though, I would say that this is one of the best books for any beginners interested in real estate. Craig is able to cover a lot of materials that I don't really see in other real estate books, such as different types of financing options, e.g. FHA, 203k, VA, hard money, portfolio lending, seller financing, etc. A lot of other books often mentions these terms, but don't explain them or explain them too briefly and not in a very beginner friendly way.
- Stop paying rent
- Buy a house right now with little to no money
- Find tenants and make them pay
Though sounds impossible, this is very possible (read the book).
One problem I have is that the book constantly tries to sell me this idea with a bunch of case studies and reiterations of how wonderful house hacking is. Though, I would say that this is one of the best books for any beginners interested in real estate. Craig is able to cover a lot of materials that I don't really see in other real estate books, such as different types of financing options, e.g. FHA, 203k, VA, hard money, portfolio lending, seller financing, etc. A lot of other books often mentions these terms, but don't explain them or explain them too briefly and not in a very beginner friendly way.
April 17, 2020
It was good and informative. It gives you everything you need to get started, but that's obviously a little overwhelming. It was just right for someone whose been in the industry for a bit, but who knows, I'm probably giving myself too much credit and really anybody could handle this.
June 5, 2020
Basic Strategies
Filled with cases, stories and examples you will get a guide on how to house hack and build wealth the smart way. Best suited to the younger or single person, you can use this strategy to reduce your living cost and snowball wealth accumulation. A valuable read.
Filled with cases, stories and examples you will get a guide on how to house hack and build wealth the smart way. Best suited to the younger or single person, you can use this strategy to reduce your living cost and snowball wealth accumulation. A valuable read.
March 2, 2021
Blew my mind by opening me to a ton of different approaches to property. I've always been a little intimidated by the idea of owning a house, but this book set out some great alternative approaches to home ownership - and some of those alternatives can let you live for free!
January 18, 2023
Tough book to rate. Some sections I really vibed with, others were totally irrelevant to my life and interests and I skipped over (as is unavoidable in writing a book like this). I will say that the sections of the book I was interested in were really solid
July 11, 2023
great to do lists and case studies. more informative when it comes to managing/bookkeeping but i’d refer to the everything guide for how to find deals but this is a good all around. first time homebuyer is a lot more useful when it comes to actual buying process
August 30, 2024
As far as content goes the book is excellent for breaking down the concepts into easy to understand pieces.
Lot of spelling, grammar, and other errors scattered throughout, including misspelling the authors name on the spine of the book.
Lot of spelling, grammar, and other errors scattered throughout, including misspelling the authors name on the spine of the book.
August 3, 2019
Thinking of investing in property? This one is a good book for you. Smart advice and very good example on how to invest in property. Sometimes simple ideas really work,
November 7, 2019
Very good! A practical plan that anyone can get started on fast and execute.
April 18, 2020
Very inspiring, especially good for young people who want to get financial freedom as earlier as they can, even before they settle down for a family.
August 2, 2020
If you are low on cash and looking for a way to enter the real estate world. This book is for you. It’s a step-by-step guide of different strategies to profit from your home while living in it.
Displaying 1 - 30 of 51 reviews