54. House Hacking With Your Family as a Freedom Warrior with Brandon Gentile
House Hacking Success
English - March 30, 2021 10:00 - 1 hour - 48.4 MB - ★★★★★ - 150 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
House hacking with your family can become a game-changer as long as everyone gets past the first hurdle: getting used to it. Having to share a house with other people is hard and keeping the kids quiet is harder. Besides, if you want to continue house hacking, you need to be moving a lot every year. That would be something you want to explain to early on in your house hacking journey.
In this episode, Brandon Gentile shares his experience with house hacking, what he thinks of house hacking, and his journey before choosing to house hack. Furthermore, he discusses what other people don't want to say about money, his realization of money, and the game being played in life.
Also, he tries to wake people up from a nightmare full of renting. Get out of the matrix. Get hold of your life. If people could just change their mindset, they could easily live a better life.
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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.