Investing in House Hacking

[Kaden Littlefield]

Hello everyone, after listening to a few podcasts I'm excited to join the Bigger Pockets community. I just finished reading Rich Dad Poor Dad and am ready to learn about real estate investing. I want to start with house hacking and learn everything I need to know. I'm currently 20 years old and working as an electrician trying to save as much as possible to get my first property while I learn about real estate!!!

[Ghassan Jabali]

Hello Kaden,

I hope you're doing well. That is very excited to hear how determined you are.

Generally, when engaging in House Hacking, we do recommend making sure to have a good lease agreement, preparing the premises for the kind of cohabitation you are planning on having, and making sure you have good insurance in case of liability being triggered.

Due to the inherent nature of using a personal residence for a business purpose, it would be considered mix use property. We may not recommend using an LLC exactly but rather putting your personal residence inside of a trust to at least offer some anonymity from other creditors or individuals.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.