How you can achieve ultimate financial freedom through real estate? House hacking is one of the easiest ways to get into real estate investing. Thanks to its flexible financing options, low down payment loans, and ability to cut your rent in half (or eliminate it), house hacking is truly a phenomenal path to financial freedom. In short, house hacking is when a homeowner or investor buys a house or multifamily and rents out the other rooms or units while they live in one of them.
The house hacking strategy can be mixed and matched in any way you like. Want to live with a bunch of friends? Buy a three or four-bedroom house and rent out the rooms. Want to have a private space for you and your family? Buy a small multifamily and rent out the other units. No matter what you choose to do, house hacking can help speed up your journey to financial freedom. This is done by reducing the amount of money you spend on rent/a mortgage while also giving you serious tax benefits, instant cash flow, and appreciation so you can build wealth in the background.
In this how-to episode, Ashley and Tony give you everything you need to find, analyze, finance, and buy a house hack. They go over in-depth real estate analysis so you can confidently bring a deal to your lender, partner, or just have peace of mind that you’re making a smart investment. This single home purchase could change your financial future forever, so what are you waiting for?
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Sign Up for BiggerPockets Pro and Use Code “ROOKIEPOD2” at Checkout:
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Join the Real Estate Rookie Facebook Group:
/ realestaterookie
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Tools Mentioned in Today’s Episode:
BiggerPockets Agent Finder: www.biggerpockets.com/agent/m...
BiggerPockets Rental Calculator: www.biggerpockets.com/rental-...
BiggerPockets Rent Estimator: www.biggerpockets.com/insight...
BiggerPockets Property Listings: www.biggerpockets.com/real-es...
BiggerPockets Landlord Lease Agreements: www.biggerpockets.com/landlor...
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Connect with Other Investors on The BiggerPockets Forums:
www.biggerpockets.com/forums?...
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Listen to The New BiggerPockets Podcast, “On The Market”:
www.biggerpockets.com/blog/20...
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Connect with Ashley and Tony on BiggerPockets:
Ashley: www.biggerpockets.com/users/e...
Tony: www.biggerpockets.com/users/t...
Episode 189
Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
02:48 What is House Hacking?
07:17 Achieving the Ultimate Freedom
13:49 The 4 Ways to Build Wealth in Real Estate
17:40 How to Start Investing in Real Estate TODAY
24:36 How to Analyze a Real Estate Deal
46:39 Funding Your House Hack
48:14 Property Management for New Investors
50:05 The 3 Biggest Rookie Mistakes
51:50 How to Get Your First Deal Faster