14. Investing Knowledge from a Successful Orange County Real Estate Investor with Mark McMahon from @mark_mcmahon_real_estate

House Hacking Success

English - November 27, 2019 08:00 - 50 minutes - 34.8 MB - ★★★★★ - 151 ratings
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Previous Episode: 13. Understanding Creative Financing! with Bradley LaBrie

Next Episode: 15. House Hacking 4 Times and Mastering the BRRRR Method with Andrew Kerr from @fibyrei

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The House Hacking Success Course

Mark McMahon brings a ton of investing knowledge to this episode! He is a successful investor from the west coast.

He talks about topics such as finding private investors, how to use a 1031 exchange to get a bigger property, and more!

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Mark's Instagram: @mark_mcmahon_real_estate

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Visit our website to learn more about house hacking at househackingsuccess.com

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House hacking is one the best ways to get started in real estate. So many investors have used house hacking to buy their first rental property with a low down payment, then even live rent free. You can live rent free because the with house hacking you utilize an "owner occupied" loan to buy a property. Owner occupied means you agree to move into it. If you occupy the property you get a lot of loan options that vary from 0-5% down. You can even buy a 4-unit multi-family property depending on the loan! After you move in you rent out the extra space to cover the mortgage, which allows you to live rent free. You only have to do that for a year! After a year you can move out and turn your property into a full time cash flowing rental property! What makes house hacking so powerful is a combination of the low down payment and living for free. You can literally change your life buy purchasing one house hack and cutting out your rent or mortgage. Imagine if you reinvested those savings to buy another property. House hacking is the best way to go from just getting by to becoming a rock star real estate investor.