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House Hacking: How to Live For Free
How would your life be different if you never needed to worry about paying rent again?
I know it may seem impossible, but trust me, it isn’t. And if you keep reading, I’ll teach you the simple secret that real estate investors don’t want you to know.
It’s called “house hacking” and it’s the simplest way to get someone else to pay for your rent.
Here’s how it works: you purchase a home. If you are a first-time home-buyer, there are tons of loan programs that can hook you up! If you are not a first-time home-buyer, there are still a bunch of loan offices that get creative. I have a friend that is currently house hacking right now in Austin and she put $0 down on her house. Yup, zero. That’s why it’s super important to shop around and weigh your options. Now she lives for free and even collects a little extra money every month, not to mention the equity in the home that she’s earning.
There’s a reason house-hacking is so popular among real estate investors!
There are many different kinds of house hacking, but the most popular is in a multi-family home, such as a duplex or a quadplex. That’s because a multi-family home gives you much more opportunity for cashflow. With a multifamily, you have multiple units generating rental income but only one house, one mortgage, and one property tax…
