10) Creative Ways to House Hack & Buying Lots in Chicago for $1

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, your hosts discuss blog 111, about how to house hack without roommates. Lauren, Alan, and Tom have all had roommates in the past. Now, they’re all pretty much past that. But what if you never want to have roommates at all? The question is: what else can you rent out? Basement, yard, parking spot, flex space, pool…. there’s an app for that! And Alan goes over them all. Remember, house hacking is all about cutting your living expenses. Alan also lobbies for a “make me vacation” price on Airbnb and Vrbo, along the lines of the old Zillow “make me move” feature. Tom is open to doing this for the right price. In Atlanta, some people rent their primaries out to people in the film industry. Of course, Alan had to ask Lauren about “short shifting” between her short-term rental properties. It’s fun getting paid to pack and leave, but of course there are challenges, especially when it comes to locking everything up. To be clear, we at House Money Media we do believe roommates are a good way to start house hacking.

Mortgage Minute: Jasmine answers the question: what can investors do to make getting a loan easier?

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Real Estate Is Easy Interview

Lauren interviews Crystal Hammond, engineer, podcast host, and real estate investor. She started by buying a duplex on her childhood street, then she started picking up lots for $1. How exactly? She’s bought lots that she plans to develop from a city program. The rules were if you owned a property on the same block you can apply to buy a lot for $1. Importantly, the only reason Crystal learned about this program was because of networking and telling people what she was up to, what her portfolio consisted of. At the time of this recording, Crystal owns 4 lots on the block she grew up on, with one more in the works. Naturally, Crystal knows the best way to get into a new space is with help, so she’s working with others to help: lawyers, architects, and more. Crystal also talks about what it’s like investing in Chicago when she lives in DC. And guess what? Being an engineer helps her in real estate investing as well because she loves figuring out how things work. Crystal closes with the heartwarming story about how she bought the duplex she grew up in so that she could control her mom’s rent, who still lived there! This begs the question: if others are doing this, why not you?

Contact our Guest: https://twitter.com/CondoCrystal & https://www.instagram.com/condocrystal

Teatime with Tom

Tom’s segment is about collecting items and how much it weighs us down. Tom is imploring all of us to ask, is this necessary when buying items? Unnecessary spending adds up over time. Alan takes this question to rentals, telling us that he doesn’t allow renters access to the attic or basement. Both Lauren and Alan have moved a few times recently, which means they purge often. Lauren educated Alan on the definitions of different kinds of furniture.

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