House hacking is an incredible way to get started in real estate investing. When you utilize this investing strategy, you can increase your net worth while building your real estate portfolio and covering your personal expenses.
On this episode of Investing in Real Estate, you’re going to learn about the four major benefits of house hacking, and how to actually go about it. I’m also sharing some of the top mistakes to avoid when house hacking. If you’re looking to ease into real estate investing, this episode is for you!
On this episode you’ll learn:
- The four main benefits of house hacking.
- A three-step process to begin your house hacking journey.
- House hacking mistakes you’ll want to avoid.
- And much more!
The Four Main Benefits of House Hacking
- House hacking allows you to reduce or even eliminate your housing costs.
- It allows you the ability to gain flexibility.
- With house hacking, you can ease into the real estate industry.
- Best of all, house hacking is a great way to build wealth.
A Three-Step Process to Begin Your House Hacking Journey
- Identify your funding source.
- Find a property.
- Run the numbers.
House Hacking Mistakes You’ll Want to Avoid
- Picking a house in an undesirable market or location.
- Overlooking local ordinances or HOAs.
- Forgetting to budget for repairs and expenses.
- Not taking landlord duties and responsibilities seriously.
Episode Resources
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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