Did you know there are hundreds of real estate agents house hacking out there? If you don’t know what it means to house hack or you are wondering why everybody is doing it, you can stop looking for an explanation. Today’s show is all about house hacking techniques, the BRRRR Method and why making an extra effort to achieve your goals and dreams will give you the satisfaction you need to keep going in life. There’s no need for doubts, Craig Curelop will make sure you start buying real estate TODAY.
From Palo Alto, California, Craig’s journey to financial freedom started when he graduated from college with a Bachelor of Science Degree in Business Administration and a 90K student debt. From a negative net worth of 30K in 2016, Craig saved and invested enough to achieve financial independence this year. After years of hustle and savings, Craig now has a lifetime of options to invest and make more money out of the money he already has. Author of The House Hacking Strategy, and Financial Analyst at Bigger Pockets, a community that goes step by step on helping others achieve financial success, Craig is convinced that it takes a lot more than just not liking your 9-5 job to look for financial independence.
In this episode of Income Hacker, Craig Curelop shares with us how he was able to invest in three house hacks in Denver, how he started with the BRRRR Method and how you can buy rental properties without using any money out of your own pocket. Plus, the motivation everyone needs to not give up on their financial dreams, and how you can increase your house hacks and your cash flow while investing in other forms of real estate.
"The House Hacking Strategy is a great way to build wealth. Don’t be afraid to get started, you have a very high probability of success.” - Craig Curelop
Podcast summary:
03:01 - The 90K student debt that made Craig pursue financial independence.
05:12 - The reason that kept Craig from giving up on his journey.
06:00 - How a single year of hustle and savings can end up in a lifetime of options.
07:34 - How to completely eliminate your housing expense and live for free by house hacking.
08:22 - How to improve your financial position, build your investment portfolio, and gain confidence through real estate.
10:25 - How Craig used Airbnb to build a strong financial foundation and screen out the bad tenants.
15:27 - How house hacking and actually sleeping on a futon can result in great financial success.
20:57 - Not changing your lifestyle can lead to great things in the future.
22:10 - How enhancing a property can result in infinite returns: The BRRRR Method.
25:34 - Getting unlicensed contractors and unreliable project managers: do not make these mistakes, Craig already made them for you.
31:12 - The lessons Craig learned from his latest BRRRR deal: Get background checks on your contractors and know exactly what you want beforehand.
33:08 - Why you should hold on to a property when going through a downturn and have a strategy for each scenario.
36:42 - Why Craig still pursues his financial independence.
Connect with Craig
The House Hacking Strategy by Craig Curelop
Bigger Pockets: Real Estate Investing Education, Tools & Networking
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