17. Ask HHS Episode 1 with Bradley and Drew
House Hacking Success
English - December 09, 2019 09:00 - 41 minutes - 28.6 MB - ★★★★★ - 151 ratingsInvesting Business Entrepreneurship investing realestate wealth money financialfreedom business biggerpockets finance leadership marketing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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The House Hacking Success Course
In our first episode of Ask House Hacking Success, we cover some great questions! To have your questions answered, email us at [email protected]
Today's Questions:
-How much should you save for a down payment?
-Would you recommend a BRRRR method in expensive markets but instead of just renting your house hack?
-How would you switch from owning a multi-family with an FHA loan to owning it as an investment property?
-How can I get into a multi-family house as a first-time homebuyer? Step by step.
-How can I get down payment assistance and grants?
-After you find the property, then what?
Links:
Resources:
5 Reasons You Should Househack!
10 Ways to Finance Your Househack!
Using Facebook as a Real Estate Resource!
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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.