Buying a House Hack is the most important step to saving money and making money from your future primary residence. This stage is where all the planning takes place to set yourself up for the future.
We all need the motivation to go through a house hack. Sacrifices will have to be made since technically it is not as luxurious as a mansion house to yourself. All House Hackers need motivation since it is extra work that is not easy. It takes time and effort, but…
Benefit 1 - low down payment option If needed, owner-occupied residential multifamily can be purchased with a low down payment for a low barrier of entry 3.5-5% down payment through an FHA (Federal Housing Administration). Typically, for conventional loans on a duplex, you'll need to do a 15% down payment…
The number one reason why residential multifamily house hack is that you are not sharing immediate space with the tenant. Secondly, there is a higher opportunity for growth compared to single-family for leading to financial freedom. The concept is straight forward: buy a residential multifamily (2-4 unit building) and live…
House Hacking is a real estate strategy where a real estate investor lives their primary residence while making income off of the property via rental income. The rental income will offset the mortgage, utilities, and other house expenses. House Hack Definition & Types There are many different forms of House…