Let These House Hacking Case Studies Show You
Simple Real Estate Investment Tips
Learn creative ways to ease your financial burdens by tuning in to these
weekly house hacking podcast series. In no time you'll be on your way
to financial freedom!
A new weekly series on house hackers has been launched in Fresno,
California. FI by REI & The House Hacking Podcast created the
series with the aim of helping you make smart financial decisions
centered around your living environs.
The most recent case study, which is the 10th of its kind, focuses on
Mike Damazo who started building wealth through his roommate-
style house hack in a single-family home. Mike was able to do all this
while working in the US Navy.
Through the podcast, you learn that
Mike decided to complete a house hack
in 2013 with the aim of getting into real
estate to build wealth and increase his
savings.
Since house hacking seemed like
the most achievable strategy, Mike
decided to learn about it from
popular podcasts.
The first step that Mike took towards house hacking was to purchase a
house. He then made some adjustments to the structure, transforming it
into a roommate-friendly home.
You are then taken through Mike's journey
as he installs new floorboards and
repaints the walls to his new home in
order to make it comfortable for him and
his potential roommates.
Following the renovations, Mike encouraged
two of his work colleagues to be his
roommates and they readily agreed to move
in and pay him $500 each per month.
Through this house hacking strategy, Mike was able to secure
financing without putting any money down through a USDA loan.
By receiving $1000 each month
from his tenants, Mike was able to
dramatically reduce his housing
expense and save $350.
FI by REI was created in 2018
with the purpose of helping you
achieve a better life.
Click on the link in the
description to find out
more!