[USER]

We live a pretty frugal life and been House Hacking for more than 7 years. We recently brought another house with the idea of doing the same thing. this new house can generate me about 4K/month House Hacking. I have plenty of my own personal space. we live on the top floor with ~2k square feet. All the tenant live in the basement. there are 3 tenant with their own kitchen and living space. We have another ADU with their own kitchen / living space.

The cash is great but I’m starting to doubt my strategy abit and even abit embarrassed of doing this after 7 years.

My wife don’t mind at all but her all friends have their “own house” and they would never room with  anyone let alone doing it for 7 years then doing it again with the new house. My friends are the same, they will never room with anyone.

Our intent with this house is to house hack as long as we live here. We don’t mind living with strangers.

I guess I question how long I can do this especially when I have kids and starting to doubt myself now. Is it possible to do this with a family? Baby? And if this is normal to do forever. We’re both in our early 30s.

Any advise would be greatly appreciated.

[Katy]

Zero chances I would live with strangers and with my kids.

[Jackie]

Lots of people live in apartments/ duplexes etc, shared structures of all sorts with kids.

As long as the tenants don’t have access to your space, I see nothing wrong with it at all.

You don’t need a stand alone single family home to raise happy, healthy kids.

Take a peek at: Anybody have any experience with house hacking a multi family building, saving, then keeping it as a rental?

[Esther]

that’s very common and not weird at all. I’ve seen great successes in people around me. They have kids as well, in elementary school. just make sure to screen the tenants well and I don’t see any problem. good for you for making the decision 7 years ago when the interest rate was much better!:)

[Jill]

Is your unit sealed off from the other tenants? If so, do it. To quote the guy nobody like “live like no one else so you can live like no one else”. Who cares what other people think. But no way in heck would I let strangers have access to my kids.

So, unless I could secure my area completely from tenant access, I’d put a stop to it before I had kids.

Additionally, consider: Is investing 100% in index funds a good strategy for retirement?

[Sarah]

This is a big thing in Utah and I think it gets you ahead!

A lot of people will turn their basement into a fully functioning house and it has a separate entrance.

[Lexi]

Are multifamily or duplex homes not a thing everywhere?

I’m in St. Louis and this would be very common to buy a duplex and rent out the downstairs and live in the upstairs or vice versa. I’m surprised people are so against it.

[Shirene]

@OP, Your renters appreciates you because renting from Apts is crazy expensive. You are doing people a good thing. And if you don’t mind, then its all good.

I had to rent from my friend for years because I have no family, and they cont to let me rent even after having kids.

It was crazy bc I hate all the crying and screaming lol but we made it work.

I was a good render though.

Have you seen: How do people feel about putting 90-100% of their income after taxes and living expenses into the current market?

[Andrew]

It’s sealed off. Not that different from a condo or duplex. As long as you are comfortable with it, who cares about what others think. You can laugh.. at them all the way to the bank or throw your millions in their faces.

[Katie]

Who wants to be normal? Not me. Doing things against the grain is why I’ll retire this year at age 46.

Do it as long as you’re comfortable, but don’t change because others might think it’s weird.

[Marlena]

I don’t think it’s a big deal with good tenants. You mention they do not have access to your floor.

So, it’s not much different than a multifamily or apt. Only it’s your house.

They pay mortgage, you build wealth.

Also, check out: I’m 30. Should I invest in total stock market index or SP500?

[Randy]

You do you. Your friends will be working until they are 65 when u will have financial freedom at 45.

[Krista]

Comparison is the thief of happiness.

If this is something that you and your wife want to do, then by all means do it! The cash flow will ease your mind much more than comparing yourself to what your friends are willing to do.

With that extra money, go on some great vacations and enjoy life.

[Brittany]

Well, I am 34 and my partner 37. We share a 3 bed 1 bathroom home with a flat mate. It saves us megabucks and we enjoy living with other people who become your friend.

We don’t have kids though.

[Kourtney]

Live like no one else will, so you can live like no one else can.

If it doesn’t bother you, house hack as long as possible. GUARANTEED you’ll be further ahead than your friends.

You may need to adjust once you have kids (mostly for your roommate’s sake), but make hay while the sun shines.

[Nicole]

We house hack and share kitchen and dining space and laundry room. It’s definitely contributing to our goals and have been doing it for about 6 years. I’m 36. As long as it works for you who cares what people think.

Lots of people say they’d never do a roommate again but that’s just based on a bad roommate situation.

They can live in their own home with debt until they’re 65 with their 30-year mortgages while we’re retired and traveling the world.

It’s also helpful for the person renting because we’re good landlords.

You can check also: Should I pay off my mortgage or invest in index funds?

[Tony]

Personally I wouldn’t do it since I have done it for 30 years. You will know when it doesn’t work for you and your family anymore.

For me it’s only been the last few years. I’m ready to be alone vs having so many roommates basically.

It sounds like you have the best version where your space is sealed off from the other roommates that makes a big difference.

Had 7 adults and 2 kids at one point that was fun but chaos.

[Josh]

What’s your end goal? What do you plan to do when you fire? Is yout perception of other people’s opinion about your house more important than to you than your goal? From a surface level view they wouldn’t want to trade places with you now, but in x number of years when you are free and they are still grinding I bet the roles will reverse.

[Christina]

We house hack with kids. Separate entrance ADU. I do waffle about it a bit from time to time but it helps us save more for retirement and college for the kids.

I think what you are doing is amazing and the friends just don’t understand (and it doesn’t matter what they think!)

[Telesia]

What about when your kids go outside to play or when they have a birthday party with a bounce house? Is your yard private? Or what about when they stand in front your home waiting for the bus? I guess it’s like living in an apartment with strangers.

I like letting my kids play in my private backyard that’s fenced in.

I felt safe an was able to go inside and peek through the window but with strangers having access NO WAY.

Consider browsing: Is IGPT, VUG, and FELAX a good ETF portfolio for short- and long-term investment?

[April]

FIRE is by definition living differently than others. My kids have been taught from birth that we look at the world differently. Your setup sounds perfect for FIRE!

[Keri]

Mom here with two kids. Started airbnbing 3 years ago. Felt weird bc it’s not the norm. Neither is retiring early. Remember the why! It will make everything feel better.

Side note, kids love knowing the people and have a Roth so when they clean the basement, they get $10.

Setting up their lives and making them work for it!

[David]

Sounds like its not so bad since the rental units are separate. I suggest “house hack” the new property for 1.5-2 years. Use the $4,000 / month plus the income from the first property (you still have it right?) to save up for the down payment on house #3. House #3 can be SFR, your own space, your own nice yard, etc… Then you can Invite your wife’s friends over for a cookout and relax knowing those first two properties are paying for themselves, generating income, and depreciating on paper while actually appreciating in real life.

[Greta]

Don’t take advice from people who aren’t doing that you want to do. If house hacking is putting you in a better position, do it until you can’t. I imagine these friends don’t have anywhere near the freedom and flexibility you have.

I live in the hood (for free though also house hacking), have a ten your old car, I don’t go out partying much. I don’t take advice from people paying $2000 -2500 to rent or even own a house with bad debt. I am a landlord. I’m not gonna make$500+ car payments.

My car is 10 years old and only needs maintenance. I don’t like to go drink, I’m also in my early 30s and that recovery as at 1 and half days now, and I have stuff to do.

[Kareena]

How do your tenants have their own kitchen n living room? did you modify the house for this purpose.

I think what you are doing is really smart you have separate 2000 sqft space which you are happy with, tenants don’t have access to your space then m not sure what danger is possible even with kids. People live in apartments n multi family n share common space all the time, plus you are vetting your tenants. you can continue this until you meet your goals or you feel like separate space is top priority and can’t do this anymore.

[Jason]

If you’re house hacking properly where you’ve accumulated multiple homes with no extra money invested besides living expenses, and are now cash flowing multiple properties, your doing awesome. Keep doing it until you guys can’t do it anymore, then buy your private forever home and enjoy being wealthy.

All your friends with only a primary property will wish they had taken your route come FIRE time.

[Fransiska]

Google collective living, it’s a principle where people lives in small communities with common shared spaces. It has a lot of advantages especially when you have kids you can build a strong support system around you.

In your case it’s even more interesting since you are the owner of the building, you just need to find the right people to live with.

[Author]

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