Source: Business Insider
Craig Curelop turned an extremely precarious financial situation into a thriving business through a real-estate investing strategy called “house hacking.” By purchasing a home with a small down payment, living in the dwelling, and renting out the other rooms, he was able to generate cash and live for free. Curelop says “there’s a form of this strategy that works for everybody.” Click here for more BI Prime stories . In 2017, Craig Curelop had $90,000 worth of student loan debt and a negative $30,000 net worth. “I realized I was just working my butt off, week after week — 60, 70, 80 hour weeks,” he said on the ” Real Estate Investing ” podcast. “And then I said: ‘Why reinvent the wheel? Real-estate has worked for millions of people over the years. Why not just invest in real-estate?'” Curelop started consuming all the real-estate information he could handle — and after he read Brandon Turner’s ” The Book on Rental Property Investing ,” he was hooked. “That kind of opened my world,” he said. “Anyone can do this, you just need like $10,000, $15,000 and you got it.” By 2019, a frugal lifestyle coupled with a real-estate investment strategy called ” house hacking ” led Curelop to financial independence. “House hacking is the idea that you buy a one- to four-unit property, with typically a 3% to 5% down loan.