How to Become a Professional House Hacker with Shawn McEnteer
House hacking can be a lucrative gateway to real estate investing for new investors. On this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Shawn McEnteer, an experienced professional house hacker. Along with his wife and four children, Shawn's path in house hacking has been both successful and life-changing. As a licensed real estate agent in New Jersey, he shares his expertise with clients and guides them as they explore the idea of house hacking, steering them toward financial freedom and real estate success.
As a parent to four children, becoming a house hacker requires a mindset shift, a topic Jonathan and Shawn delve into at the start of their conversation. Shawn shares his introduction to the idea, revealing his decision to obtain a real estate license and leverage real estate investments to boost both their real estate investing and his wife’s business. Shawn also outlines the attraction of his assets to potential renters compared to apartment complexes. He explains his strategic focus on the local New Jersey market and embracing renovations for house hackers who want bigger returns. Jonathan and Shawn stress the importance of having alignment with your partner, the lessons you can learn from making offers—even the weak ones—and offer advice for aspiring landlords.
Jonathan and Shawn go further in-depth on the following topics:
It isn't a bad thing when apartments are built down the street from a house-hack property. Instead, it usually means increased demand, puts the area on the map, and positive comps.
Figure out what your must-haves are in a property. Solid financial footing is a big component of this equation.
Open yourself up to the possibility of renovations. If you only consider turnkey properties, you’re putting yourself at a disadvantage for both purchasing and equity.
Become a self-managing landlord to make the most of your properties.
House hacking doesn’t have to be complicated or prohibitively expensive, and Shawn McEnteer can steer you in the right direction with his years of experience.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out http://www.trustgreene.com/podcast/zen/118.