Can house hacking be done with a part-time day job?

[Tony Marcelle]

Can someone get into house hacking if they are only earning a part-time salary from their day job? How soon can that person quit their job they hate and go all in with house hacking? If that person's main goal is replace the income from their 9-5 job with the cash flow from house hacking multi-family homes, what would you tell them as much as they want to quit their job and be free from ever having to punch a time clock ever again?

[JD Martin]

"Can someone get into house hacking if they are only earning a part-time salary from their day job?"

Maybe. You have to live somewhere anyway. If you have enough money to either buy something or qualify for financing.

"How soon can that person quit their day job they hate and go all in with house hacking?"

It depends. How much money can you make off the house hack? You likely need enough to cover all of your living expenses plus generate enough money to put away for expenses and be able to buy another property or 100.

"If that person's main goal is replace the income from their 9-5 job with the cash flow from house hacking multi-family homes, what would you tell them as much as they want to quit their job and be free from ever having to punch a time clock again?"

I'd tell them to keep their day job, live below their means, put all their extra money into investments until it generated enough money to meet all expenses plus future costs on the property and extra funds to continue investing.