In this video, I’ll teach you about how you can pay little to no housing costs in 2021. It’s called “house hacking” and quite honestly one of the smartest ways to get started investing in real estate. I’ll go through everything you need to know to get started in this guide/tutorial, and give you some actionable steps to take.
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From having the right location, to knowing the best value adds to any home to make it suitable for renting or Airbnb, we’ll cover it all. I house hacked for 2 years starting in 2017 and it drastically reduced my living expenses. You can apply this technique to an SFR (single family home), condo, duplex, triplex, or even 4 plex. And did you know you can but as low as 3-5% down? Crazy right!
Oh, and house hacking is still doable even if you live in a high cost of living (HCOL) area. While it likely won’t make your housing completely free, it can certainly make it much less than it could’ve been.
I am a huge fan of real estate investing, and for 95% of you watching this, house hacking is the easiest way to get into a house as early as possible. You just need a 3-5% downpayment and the right game plan to get started.
0:00 – Intro
0:26 – What is House Hacking?
0:47 – Pros and Cons of house hacking
1:56 – Step 1
2:38 – Step 2
3:07 – Finding good properties to house hack
4:52 – Sample mortgage and payments walkthrough
6:42 – Capital gains tax explained
8:08 – Rental rate versus property value
9:28 – Buying your property
10:25 – Final words
Thank you for watching and I hope this video inspires some of you to go out there are house hack your way to financial freedom! 🙂
#HouseHacking #LiveForFree #HowTo