64. How to Manage Properties Long Distance - Avery Heilbron
House Hacking Success
English - October 21, 2021 10:00 - 38 minutes - 26.7 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
Avery Heilbron always had an interest in reading books especially business books and finance books. He graduated from college in May 2018 with no prior knowledge of house hacking. Three months after graduation, he learned about house hacking and became a house hacker in less than one year.
There are many ways to house hack, there are various strategies available for use to the public, you just need to take action and plan your future accordingly.
Podcast Episode 64
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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.