Risk Level
Low
Initial Investment
$20K
Goal Type
Short/Long Term
Overview
Long-Term Strategy
House Hacking is often considered a stepping stone towards building a real estate portfolio. The reduced housing expenses allow you to save money and potentially acquire additional investment properties in the future.
Financial Benefits
House Hacking offers several financial benefits. By living in one unit and renting out the others, you can significantly reduce or eliminate housing costs, including mortgage payments. The rental income from the other units helps offset expenses and can even generate positive cash flow.
Benefits & Strategy
The 3 Steps to House Hacking
1
Purchase Property
You buy a property with multiple units or extra space that can be rented out. This can be a duplex, triplex, or single-family home with a separate unit, such as a basement or garage apartment.
2
Live in One Unit
You live in one of the units, usually the main unit or a smaller portion of the property. This allows you to take advantage of owner-occupied financing options (5% down) and potentially live in a more desirable location.
3
Rent Out the Remaining Units
You rent out the other units or spaces in the property to tenants. The rental income generated from these units is used to offset or cover a significant portion, if not all, of the mortgage, property taxes, insurance, and other expenses associated with the property.
We specialize in assisting investors like you in finding the perfect properties for House Hacking. Our team understands the unique requirements involved in house hacking, and we are dedicated to helping you identify properties with income-generating potential.
With our extensive market knowledge and network, we can pinpoint properties with multiple units or extra space that are ideal for house hacking. Let us be your trusted partner in finding investment properties that allow you to reduce or eliminate your housing costs while building long-term wealth.
We provide comprehensive analysis and guidance.
You don't like living with people
You want to scale quickly
You're not comfortable with change
You're buying your first property
You want to buy with less than 20%
You want to live for free