Become a Rent-By-The-Room Millionaire with The House Hack 'Stack'

House hacks take on all different shapes and sizes. Some house hackers prefer the classic “I live on this side, they live on that side” duplex. If you’re cruising for cash flow, then maybe you’ll prefer three or four-unit investment properties. But what about renting by the room? Most investors know that room rentals combined bring in more than renting an entire house. But is the juice worth the comfort-first squeeze?

Meet today’s accidental house hacking millionaire, Jeff. Jeff has built a $90,000 per year income, solely by renting out the rooms in his house hacks. He’s also been smart enough to clock in “guaranteed rent” by utilizing his extra units for section 8 rents. Jeff has been persistent to buy a new house hack property every year, allowing him to slowly build a million dollars in equity with over five million dollars in property under his name.

He understands the reason why so many would-be house hackers are averse to renting by the room, and he’s got some pro tips that’ll make sharing a space not only comfortable but lucrative to boot!

~~~~
Join BiggerPockets for FREE 👇
~~~~
Enroll in BiggerPockets' House Hacking Bootcamp:
~~~~
House Hacking 101:
~~~~
Check out Last Week’s Episode on How House Hacking Beats High Interest Rates:
~~~~
Enroll in BiggerPocket's House Hacking Bootcamp:
~~~~
Find an Investor-Friendly Agent in Your Area:
~~~~~
Connect with a House Hack-Friendly Lender Near You:
~~~~
Read “The House Hacking Strategy”:
~~~~
5 Reasons Why Section 8 Tenants Are the Best Renters:
~~~~
Connect with Chris on BiggerPockets:
~~~~
Connect with Jeff on Instagram:
~~~~
Subscribe to Chris’ YouTube Channel:
~~~~
Follow Chris and BiggerPockets on Instagram:

00:00 The Two-Strategy House Hack
01:34 Jeff's Two-Unit Property
02:50 Buy "Uncomfortably Awesome" Furniture
03:54 Short-Term Leases Win
04:56 Kitchen Tips
06:47 Strangers are Better Than Friends
08:01 Get 60% Higher Rents!
09:21 No More Parking Problems
10:27 Guaranteed Income with Section 8
12:51 $7,500 in Pure Cash Flow!
16:40 Connect with Chris!

#biggerpockets #househacking

[richruelas]

Thanks, I starting my first house hack and I got some great ideas from this. Thanks again!

[bestreviewer]

Just did this with a house and now make $2, 400 a month on one house worth $300k

[CChaoticGaming]

Great numbers for sure, wondering is the electronic locks on the internal doors an issue with zoning though? I'd be curious how this property is zoned/was zoned at purchase and what steps you took (if any were needed) there. I understand you may just be willing to accept the risk even if not, but curious if there's any appreciable risk here

[alexorovitz]

Hey Jeff, how do you advertise your rooms? Are there specific sites, or do you just post to zillow with a detailed description of the situation?

[juliuss]

What rent/lease program does this guy use? I’m looking to rent per room my house but don’t know how I would charge my tenants

[georgeannekaufman]

I just wonder how this works with so many people--four upstairs and a family downstairs. In the city I live in, there is a limit of only four unrelated people who can live in a single family home. I've noticed that a lot of cities have this limit. Code enforcement has something to say about this if this goes over the "people limit" in a particular jurisdiction. How does this work out with so many people?

[zyrasynowksy]

Let’s get Jeff back and see how’s he doing?

[talus]

I’ve been racking my brains trying to figure out how to work parking when breaking up a rental

[zkfcdwe]

Go Chris and Jeff! I love this series. 👍

[exquisitecaribbeanqueen]

Exactly so, so all these tips I know....So ill be doing that. Great video

[ettyobz]

Good numbers but that 4million dollar debt plus how easy that equity can reduce scares me . I try to pay off or owe only 20% before buying another . Great job Jeff

[infovidasupps]

What about a dorm size fridge in each bedroom and none in the kitchen?

[harshrajthakor]

Hey Jeff, what property management software you use that allows to to manage all your properties and collect rent on room by room basics?

[josephulloa]

Great ideas ! I’m currently thinking about converting my up stairs master bedroom(600sq ft) into a studio with a separate entrance.

[kevincauto]

This was great. I really liked some of the nuanced things he did here. I do this strategy in my market. I have a home with a tv and without a tv. There's less conflicts or things to fight over if the common area doesn't have a tv and the furniture is not comfortable.

[The.Irving.Barajas]

Been doing this for the past 6 years, currently on my 4th home with 20+ rooms. Great cash flow

Im also building a mobile application to help manage your room rentals for free if anyone is interested

[embeee]

No tv means no tv fights. People can stream from their personal devices.

[Melanatedminimalist]

I loved like this before around a college -the apartments were nice and we kept it super clean and very very economical …. One rent pays everything

[lpslancelot]

What you've done here man is amazing! I currently have a 5 bedroom house and I'm renting out all the rooms. Do you use the income to qualify for the next mortgage?

[aarondavis]

I didn't see a utility expense on the report. I'm assuming Jeff puts the utilities into his name since there are multiple tenants living in a home. Is Jeff paying utilities each month and then charge the tenant?