If you’re new to real estate investing, you’ve probably discovered that it’s not as easy to break into as, say, the stock market. There is no Robinhood for rental property, and you can’t start with just $1. But there is a way to get your foot in the door — house hacking.
How Does House Hacking Work for Investors?
House hacking is an innovative way to leap the two biggest hurdles facing new property investors:
- Most mainstream investment property mortgage products won’t allow borrowers without previous landlord or property management experience.
- Investing in tangible real estate (as opposed to REITs) requires a sizable down payment or an all-cash deal.
If you don’t have landlord experience or a truckload of cash, house hacking might work for you. House hacking means using your own home to generate rental income and learn to be a landlord. You can modify your current home or…