How to Reduce your Housing Costs? An Introduction to House Hacking with Andrew

In today’s episode, we will speak to my friend Andrew Kerr from The House Hacking Podcast.

Andrew started his career in a corporate job, then moved on to a non-profit organization where he enjoyed his job much more but missed the financial security. This is when he started his real estate investing journey in order to build that financial security.

Roommate Agreement House Hacking

Andrew will share his story with us and give us an introduction to House Hacking: What House hacking means, how it can help you achieve your financial goals, how you can start today regardless of your location and the underlying principles.

Listen here:

…or listen on Apple Podcasts

This episode is you if you are looking at ways to reduce your housing costs and are willing to make alternative choices.

Key Takeaways:

  • House Hacking: Making a different choice of housing, so it benefits you by reducing your housing costs. This will allow you to use the extra money for other purposes like investing for example.
  • If your wife or partner does not understand what house hacking is, tell him/her: Imagine the extra money we would have if our housing costs were halved!
  • There are 6 ways to house hack: The roommate agreement, the multi-unit property, the income suite, the ADU, the work-provided housing, and  the live-in flip
  • The key tip for house hacking: Being intentional, creative, and thinking through.
  • When looking for a home: Be prepared to not get everything on your wishlist, make the trade-off that will allow you to house hack.

Who is Andrew?

Andrew Kerr, the founder of FIbyREI.com, is a seasoned real estate investor and nonprofit director. With his successes in real estate, he decided to share his experiences in his podcast, The House Hacking Podcast.

Andrew worked in residential and small commercial banking for nearly 7 years but knew that it wasn’t his passion. Because of his financial success in real estate investing, he was able to pursue his true passions — nonprofit work and traveling the world.

Andrew Kerr FIbyREI
Andrew Kerr

RESOURCES 

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