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Here's How House Hacking Actually Works & Building a Foundation with your Partner w/ Ian Jimeno
Manage episode 396323000 series 3540243
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Check out this insightful podcast episode on house hacking in real estate investing! Hosted by Taylor Cu and featuring guest Ian Jimeno, they discuss two main strategies: renting out individual rooms in a larger property and converting a basement into a separate rental unit. They emphasize the importance of knowing the local market and considering factors like electrical lines and property layout. Ian shares his experience of renting out rooms exclusively to young professional females and mentions popular websites like Zillow, Apartments.com, Trulia, and Hot Pads for listing rooms. They also touch on the dynamics of working with a partner in real estate and the importance of mutual support.
Bio:
Ian Jimeno started his real estate journey back in 2019 in San Diego when he attended a real estate seminar for free beer and food. Little did he know that the seminar would change the course of his life forever. While still working as a Geologist, he and his wife, Kat, decided to purchase an off market duplex in San Diego and rent out as many rooms as possible to mitigate the expenses.
After uncovering how fruitful the investment came to be, Ian and Kat continued on their real estate journey by purchasing their next home in Parker, Colorado, and just closed on their third house hack in early May. They also invested in a 44-unit apartment complex in Austin, Texas, where they are realizing the power of leverage, control, and economies of scale while investing in multifamily complexes.
After moving to Denver, Ian realized that he was spending his hours after work looking at investment properties and analyzing deals. He thought, “If I’m doing this from 5 to 9, I might as well make it my 9 to 5”. He is now a licensed Realtor on The FI Team led by Craig Curelop himself.
Ian’s ultimate goal is to reach financial independence in 6 years so he can live the “nomad life” with his wife, Kat, and his dog, Archie.
Ian's Instagram - https://www.instagram.com/ian.realestateagent/
Ian's YouTube Channel - Moving to Denver Colorado with Ian
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