58. Turn Every Dollar Into Employees And Make Them Work For You! with Jonathan Seller
House Hacking Success
English - May 03, 2021 10:00 - 1 hour - 51.4 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
From a single guy that produces music for the church to becoming financially free. Jonathan Seller believes that you should turn every dollar into employees and make them work for you.
Everything started from having too much free time. He did what every other people did, he Google'd "How to Make Money Online". He wants more money but doesn't want to further decrease his available time.
The word that stuck to him was 'passive income.' At first, he thought it was impossible. Put some further research on it that resulted in lots of get-rich schemes. Fumbling through all those, he finally stumbled into affiliate marketing which marked the changes in his life.
Jonathan loved the idea of passive income and came up with work optional. A business model that helps other people start their own business without having them personally doing anything. Business owners provide the initial investment and wait for the end of the month to receive their passive income. It's a win-win!
There's no reason not to love passive income. It's the same reason why house hackers love cash-flowing rentals. There are millions of ways to make money online and it's up to you how to discover them.
The future holds more wealth and with more liquid funds available, you have more options on everything that you do.
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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.