#134 with Chris Montes: How to Live for Free with HouseHacking in an Expensive Market
Millennial Millionaire Real Estate Podcast
English - December 09, 2020 20:50 - 41 minutes - 76.6 MB - ★★★★★ - 56 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Jonathan Farber interviews Chris Montes on his path from using a househack to escape his astronomical NYC rent to learning the tricks of the trade in an expensive market. Chris is an expert househacker who still works a W2 tech job, based in Long Island, New York. In this episode, we dive into topics like: choosing a real estate strategy, filling units in expensive markets, getting through your first deal, and more!
Top Takeaways:
Deciding on your real estate strategy - 10:30 - 11:20
Start by figuring out what your goals are - long term wealth, rapid growth, as soon as possible, etc
The faster you know where you want to end up, the sooner you can set yourself on the right track
This will help spur you into action and negate some anxiety that comes with vast options
Filling units in a challenging market - 13:45 - 15:00
Facebook Marketplace is a vast and untapped market for finding tenants
Know that you will have to do all your own vetting since Facebook doesn’t do tenant screening
This doesn’t have to be your only option, but it can be a valuable tool in your belt
Overcoming apprehension and getting your first deal done - 17:50 - 20:00
Play to your advantages to make the process as straightforward as possible
The more you can capitalize on your strengths the better the deal will turn out
Know that it’s ok to make sacrifices if it gets you closer to your long term goals
Resources:
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