20. Ask HHS Episode 2 with Bradley and Drew

House Hacking Success

English - December 16, 2019 09:00 - 24 minutes - 17.1 MB - ★★★★★ - 151 ratings
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Previous Episode: 19. Taking Charge of Your Personal Finances with Bradley LaBrie

Next Episode: 21. Everyone in the World Should House Hack! with BiggerPockets author Craig Curelop

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The House Hacking Success Course

Questions covered in this episode:

- I'm interested in the FHA and 203k loan. I have a full-time job and tired of wasting money on rent. How do I start?

-How do you refinance your FHA loan and convert so you can repeat the FHA loan again and buy another duplex?

- How do I run numbers and evaluate deals?

- What strategies are out there for buying my first SFR for my family using an FHA, but then doing a refi into a 30 yr loan to lower the payments

-Not sure if Airbnb is possible in LA or SF where not only the market is expensive but also Airbnb restrictions require owner occupancy and you have kids.

Links:

Resources:

5 Reasons You Should Househack!

10 Ways to Finance Your Househack!

Using Facebook as a Real Estate Resource!

@househackingsuccess

@bradleylabrie

@drewklingstrikes

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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.