What if I tell you that you can do house hacking with no money or house? All you need is just a little creativity to make your rental space stand out and the discipline to reinvest whatever profits you have to grow your real estate business.

Let’s dive in!

 

 

 

House Hacking Strategies For Beginners

 

Whether you’re a mom in your 40s or a pensioner looking for side income, you’ll find one of these strategies that work best for you. These house hacking strategies that I’ll share with you today are surprisingly simple yet effective, even for beginners like you.

Here are the top four house hacking strategies that let you earn passive income without owning a house or money.

 

1. Converting Someone Else’s Land Into a Rental Space

 

No land? No problem!

This house hacking strategy lets you partner with someone who owns, let’s say, a piece of unused land. But it shouldn’t just be any land.

Be strategic. Make sure to find a property in an excellent location that people would want to visit (say, a picturesque ranch or a mountain top overlooking the ocean).

Then you ask the land owner if you can rent a piece of their land while you do the listing and marketing on Airbnb. In this setup, travelers can put their tents on leased ground and camp. You don’t have to provide anything. But if you want to attract more travelers, you can put up a compostable toilet or some woods for a campfire. 

Earning Potential: You can get anywhere from $25-$75 a night. Or even $100 a night, depending on the location. 

 

Level Up Using These Ideas

 

  1. If you already have the money to level up your business, you can build a tent platform and bring in a water hose so your campers can fill in their jugs or cook.
  2. Do you want to charge more per night? Reinvest your profits by buying a canvas tent and putting up a woodstove. 
  3. People love Instragammable photos now, so why not buy an inflatable dome and some lights for a glamping vibe.

Earning Potential: For this setup, you can charge anywhere from $125-$150 per night, depending on the location and inclusions.

You have to remember, though, that you must explain to people what they can and can’t get with your listing. Nothing is worse than getting bad reviews when you’re just starting with Airbnb rentals.

 

2. Providing Unique Stays with Mobile Homes

 

Does your friend have a boat, camper, or RV collecting dust?

Turn it into a money-making machine by putting it up on Airbnb. People love unique accommodations, and you can put these mobile homes up for rent.

You can offer to do the cleaning and decide how you’d split the profit – 60/40, 50/50, or whatever works best for both of you. Remember to coordinate with your friend on when they’d use the mobile home so you can block those dates off when listing the unit on Airbnb.

Earning Potential: This is where market research comes in. You can’t set your rate at $100 when competitors in your location charge $45 a night. But so far, I’ve seen rates at $80 a night for small boats.  

 

3. House Hacking Your Own Bedroom

 

This strategy is for those who have nothing at all.

What about renting out your bedroom?

Let’s say that you don’t stay at your place on weekends. So why not rent it out on weekends or on days when you’re not around.

Earning Potential: It still depends on the location and the inclusions that come with renting your bedroom, but I’ve seen somewhere around $30 a night per room.

 

4. Hosting an Experience on Airbnb

 

And last but not the least on our list is hosting an experience on Airbnb. Technically, this doesn’t belong in the real estate investing category, but I feel like this is worth sharing.

You can be a tour guide to travelers and list your service on Airbnb. Airbnb Experiences allow you to get paid while doing what you love. It can be giving somebody a tour of your town, taking travelers on fishing excursions, or taking people on art gallery tours in your area. And many tourists are willing to pay to get an in-depth local experience.

Earning Potential: With no upfront investment or cost on your end, you can offer your service as low as $10 per person and even set the activity at your desired time. And if you want to scale up this business, you can host private groups of any size. 

 

Which one these is your favorite house hacking strategy? Follow Women Creating Wealth on your favorite podcast to learn more about real estate investing and how you can succeed in this industry as a woman investor.

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