25. Leave an Unfulfilling Job With House Hacking with Zach Midwood
House Hacking Success
English - January 03, 2020 13:40 - 36 minutes - 25.4 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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In this episode, Zach talks about how he got burnt out of a job, and in a search for something greater, he discovered real estate. That led to strong persistence to find his first property. He looked at 75-100 properties to find the right one and gained a lot of knowledge during the process.
He eventually got into his house hack and his savings on rent allowed him to leave his higher paying job to pursue more meaningful work.
Links:
Instagram: @zachmidwood_real_estate
Email: [email protected]
Resources:
5 Reasons You Should Househack!
10 Ways to Finance Your Househack!
Using Facebook as a Real Estate Resource!
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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.