The Secret to Living Rent Free
Fed up with paying high rent? Try this method for living rent free while saving money.
I live in the land of sunshine known as Los Angeles, California. I love it here, but rents and mortgages are among the most astronomical in the U.S.
High rent is what led me to find out the secret to living rent-free while saving money at the same time. It’s known as house hacking.
House hacking is when you live in your home and rent out other rooms, or in the case of a multifamily property, you would rent out the other units.
One of the best ways I’ve found to save money, earn money on the side, and live rent-free in the process is being an Airbnb host.
Airbnb is an online company or marketplace that connects short term renters that are seeking accommodations.
Being an Airbnb host takes the sting out of my mortgage payment and allows me to live virtually rent-free, or rather, mortgage-free by house hacking.
I’m using house hacking as my entryway into building my real estate empire.
Not only have I been able to live rent-free, but I have built up my home equity in the process.
Becoming an Airbnb host has been one of my most lucrative and fun endeavors.
My location in Los Angeles gives me a steady stream of guests from all corners of the world.
I live in urban L.A. and my home is conveniently located a short drive from the airport with close vicinity to the beaches and several of our area colleges.
Uber and Lyft are abundant and relatively inexpensive in my area.
Many of my guests choose the convenience of a car service like Uber or Lyft over driving or taking the metro.
I have been asked ‘Why not just get a roommate’?
I prefer using Airbnb over having a roommate because, first of all, I don’t want a roommate.
Airbnb guests come for a designated amount of time and then they’re off to their next adventure or their return trip home.
When I feel like I need some downtime, or just want to throw a huge party, I can block my calendar for those dates.
With Airbnb, my guest payments are swift, showing up in my PalPal account the day after they check-in. Sweet!!
The fun part of Airbnb for me comes in meeting people of every nationality from all over the world.
After my first year of hosting, Airbnb sent me a congratulations letter stating I had hosted people from over 60 countries.
Wow! Even I was shocked at the sheer volume of those numbers.
I find it fascinating to talk with others about how they live and how they were reared.
We are all different, yet alike in so many ways.
Guests may book a property because they want a more authentic stay, achievable when you’re a part of a neighborhood versus being in a hotel room.
There are some really unique spaces for rent on Airbnb, from Treehouses, boathouses, Airstreams, underground houses, castles, and even a sheep wagon in Wyoming (I think I’ll pass on that one).
Check out some more amazing Airbnb rentals here: Beautiful Airbnb Houses.
Need a pet-friendly Airbnb? They’re available.
Need a last-minute Airbnb? Chances are they’re available also.
I enjoy using Airbnb when I’m on vacation.
It’s good to see how others host Airbnb and I’ve picked up some good tips from being an Airbnb guest away from home.
Do you have a space that you could Airbnb out for side hustle income?
Always check your city ordinance laws to make sure you are in compliance.
Have you ever been a guest at an Airbnb? How did you enjoy your experience?
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