"I bought my house in 1999 for $145,800, and there still are monthly payments on the home. Normally, within 30 years most people would have their homes paid off, but I had a little slip-up in 2008 when the market crashed. I went from a six-figure income to zero income. I depleted most of my financial resources to hang onto the home."
"I'd heard of people renting out rooms, and I had never really seen it anywhere. I decided to go on Craigslist and started renting out rooms. The idea came to me through some other friends of mine who were struggling as a result of 2008 as well. They were sharing stories with me across the table saying, "Dee, I'm renting out a room. Maybe that's something that you want to consider." And of course I did, and it's been working out for me ever since."
Dee McCord-Ochoa bought a three-bedroom home in 1999 and still carries monthly mortgage payments. The 2008 market crash eliminated a six-figure income and depleted financial resources, motivating room rentals. She began listing rooms on Craigslist and SpareRoom around 2018 and has hosted at least five roommates. She treats room rental as a business with 12-month contracts, 30-day notice, and first-and-last-month rent requirements, while occasionally offering breaks. Renting out rooms supplies additional income that helps cover housing costs during semi-retirement.
Read at Business Insider
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