D
enver-based couple Jeff White and Suleyka Bolaños retired before 40 after growing their rental income to surpass their salaries. They achieved this through house hacking, a strategy that involves renting out part of your home to offset or eliminate mortgage payments.

    White first learned about house hacking from a book he read in Barnes & Noble called "Build a Rental Property Empire." The couple was initially hesitant to give up their condo but decided to sell it and use the proceeds to fund a down payment for a multi-family property. They closed on a fourplex in 2017, which needed significant renovation work.

    The couple faced numerous challenges with their first house hack, including cockroaches, mice, mold, and squatters. However, they persevered and eventually moved into one of the units, filling it with tenants. The rental income from the property completely covered their mortgage payment, allowing them to live for free.

    White and Bolaños expanded their portfolio gradually, buying one house hack a year since 2017. They tested different strategies, including renting by room, and developed systems to manage their properties effectively. With each new purchase, they increased their rental income, going from living for free on the first property to cash-flowing $1,500 per month on the fourth.

    The couple's goal was to hit financial independence, but they achieved it sooner than expected in 2023. Their rental income exceeded both of their W-2 salaries, allowing them to retire before 40. They continue to expand their portfolio, holding onto all eight house hacks except the first, which they replaced with two other rentals through a 1031 exchange.

    White and Bolaños attribute their success to consistency, flexibility, and willingness to make short-term sacrifices. They sold White's car, cut back on spending categories like concerts, and relied on public transit and rides from Bolaños to commute to work. Their sacrifices paid off, allowing them to enjoy the freedom of early retirement and plan for future growth in their rental portfolio.