Homebuying Hacks 2023


When most people think of investing in residential property, they think about buying a small house and renting it for a few hundred dollars over the mortgage.

The main problem with that plan is that in the current market, finding a house that will rent at a profit after a 6.5% mortgage is much tougher than it was a few years ago.

That’s before considering what if you go a few months with no renters, something major breaks, or you have a bad renter, (I have stories!!!) you can put your profit at serious risk.

This is why most people are not willing to invest a large portion of their savings into a residential rental property.


There are more than a few ways to get into a property with less than 20% down on a risky investment.

Here is a summary of a few of the ideas we discussed in this week’s podcast

House Hacking – Rent every room individually. People are paying up to $1,000 a month for room rentals because the market for cheap rentals is so tough. A 4-5 bedroom house can make serious money with the right setup.

Non-Traditional Partnerships – Instead of buying a house as an individual or as a couple, buy a house with a friend or two and split the expenses. For many, this is much more desirable than renting or taking on a mortgage by themselves.

Own/Airbnb – Tim and I discuss a couple in Annapolis who have a new property with a $2,000 mortgage. They can rent the house for the Naval Academy Graduation and Annapolis Boat Shows for $3,000 a week. During the 4 weeks, they will cover 50% of the annual mortgage.

Traditional Airbnb – People assume Airbnb’s are only for seaside towns or places near major attractions but that’s not true. People rent basements, garage apartments and are also looking for “primitive” sites with no amenities and are willing to pay big bucks. Got an old shed at the back of the property?