Upwork<\/a> have made it easier to find potential customers from all around the world, but asking around your network might be the best strategy when starting.<\/p>\n\n\n\nYou’ll never know how you can provide value if you never ask.<\/p>\n\n\n\n
Part-Time Jobs<\/h3>\n\n\n\n
Part-time jobs often have flexible schedules. At the very least, you’ll have more hours to spend on your property than a full time job.<\/p>\n\n\n\n
Here are some part-time job options:<\/p>\n\n\n\n
1. Tutoring<\/h4>\n\n\n\n
If you have teaching experience or knowledge in a particular subject area, tutoring might be a good choice for you. You can work with local students or offer your services online.<\/p>\n\n\n\n
Tutoring is perfect for those who want to work flexible hours and want to avoid any long-term commitment. This allows you to balance your work and house hacking responsibilities.<\/p>\n\n\n\n
And you might be able to turn this into a remote job as well.<\/p>\n\n\n\n
There are a lot of possibilities in the world of tutoring.<\/p>\n\n\n\n
2. Dog Walking\/Pet Sitting<\/h4>\n\n\n\n
Dog walking or pet sitting might be one of the easiest part-time jobs to start with. And it’s a great way to earn some extra income given the amount of people with pets.<\/p>\n\n\n\n
Especially in urban areas with lots of pets (and busy pet owners), you can quickly build up a customer pace with a little hard work, especially if you use popular dog walking apps to help you find customers.<\/p>\n\n\n\n
Whatever the case, this is a completely scalable job that lets you do as many hours as you want, giving you plenty of time to work on your property.<\/p>\n\n\n\n
3. Uber\/Lyft Driver<\/h4>\n\n\n\n
Driving for Uber or Lyft allows house hackers to work as independent contractors and enjoy a flexible schedule that suits their needs. However it requires the driver to have their own vehicle As long as there is demand in your area, this option can be both rewarding financially while still giving the house hacker ample time to manage property responsibilities<\/p>\n\n\n\n
4. Your Current Career<\/h4>\n\n\n\n
You don’t always have to switch jobs if you’re looking for a part-time arrangement.<\/p>\n\n\n\n
If you’re already employed, ask your current employer if they’d be open to a part-time schedule.<\/p>\n\n\n\n
Then you won’t have to switch jobs and you’ll get some time back to devote to other things (like renovating a unit, showing it to potential tenants, or anything else).<\/p>\n\n\n\n
Factors to Consider When Choosing a Job for House Hacking<\/h2>\n\n\n\n
When choosing a job to work while house hacking, there are several factors to consider. These include the flexibility of your work schedule, income stability and consistency, and proximity to your property.<\/p>\n\n\n\n
Flexibility of Schedule<\/h3>\n\n\n\n
Working a flexible job can be very helpful when house hacking. You never know when you will need to be available for tenant needs or maintenance issues.<\/p>\n\n\n\n
That said, it’s not always necessary to have a super flexible job. Especially if you’ve maintained your property well and have set reasonable expectations with your tenant from the get go, the chances of you having to spend tons of time on your house hack are slim.<\/p>\n\n\n\n
But it never hurts to have the flexibility anyways.<\/p>\n\n\n\n
Consider jobs that allow you to work from home or set your own hours. These may include freelance writing, virtual assisting, or web development, all of which were discussed in the previous section.<\/p>\n\n\n\n
Income Stability and Consistency<\/h3>\n\n\n\n
Another factor to consider is the stability and consistency of your income.<\/p>\n\n\n\n
Thankfully, because of the income from the house hack itself, you can likely get away with a lower income from your job. Your housing costs are already subsidized by the rent, after all!<\/p>\n\n\n\n
That said, a consistent salary is looked on more favorably by lenders than a more volatile, self-employed income. So if you’re looking to more easily qualify for a mortgage<\/a>, consider a job with a consistent salary.<\/p>\n\n\n\nProximity to Property<\/h3>\n\n\n\n
Consider how close your job is located in relation to your property.<\/p>\n\n\n\n
Commuting takes time and money out of your day that could be spent on managing the property or working to improve it.<\/p>\n\n\n\n
Choosing a job close by may save time and make it easier for you to manage both responsibilities without sacrificing one over the other.<\/p>\n\n\n\n
Tips for Balancing Work and House Hacking Responsibilities<\/h2>\n\n\n\nA: Time Management Strategies<\/h3>\n\n\n\n
House hacking means juggling multiple responsibilities at once – being both a landlord\/roommate as well as an employee with work commitments can be challenging at times.<\/p>\n\n\n\n
Here are some time management strategies to help balance these responsibilities:<\/p>\n\n\n\n
\n- Make a daily schedule – Write out a schedule every day that includes your work hours, time for tenant needs and other daily tasks<\/li>\n\n\n\n
- Delegate tasks – Consider hiring a property manager or outsourcing tasks like cleaning to free up more of your time. Don’t feel like you have to do everything yourself.<\/li>\n\n\n\n
- Set boundaries – Be clear with tenants about when you are available and which issues are truly emergencies. More on this below.<\/li>\n<\/ul>\n\n\n\n
B: Setting Boundaries with Roommates\/Tenants<\/h3>\n\n\n\n
One of the biggest challenges of house hacking is finding the right balance between being a landlord\/roommate and maintaining healthy relationships with tenants.<\/p>\n\n\n\n
Set clear boundaries from the beginning can help ease tensions and prevent misunderstandings:<\/p>\n\n\n\n