The EASIEST Way to Invest in Real Estate in 2023

[@ginalowe9103]

I didn’t start saving money til 48 years old. It became evident I wouldn’t have enough to retire on. Used my 401k for a loan on my 4 plex. Then bought a 12 unit, using a HELOC from my own home as the downpayment. 5 years later, I became a multimillionaire all because of real estate. Was it difficult? Yes. Was it worth it? Oh yeah. My income in retirement is quite comfortable. I thank God for his provision for showing me the way.

[@jonlee6114]

Is this a fake story?

[@saraiday1646]

Congratulations ❤

[@ginalowe9103]

Not a fake story at all. My life.

[@jonlee6114]

@@ginalowe9103 You became a multimillionaire in 5 years by owning a 12 unit? How is that math remotely possible? Explain.

[@khadijahwashington168]

Thankyou..i just said 40s was so late to start

[@alexisking9620]

Best quote ever! “Do you want to be wealthy or do you want to be comfortable?”

[@chadhewitt5650]

I did this with a bank owned property I bought in 2012. I lived in the mail house, rented out a MIL above the garage and rented a shop on the property to a landscaping company. Lived mortgage free in the house and made money for three years before I bought my dream home.

[@FloraBamaGoneWild]

House hacking is the shit! I didn't even know I was doing that until I started listening to this podcast. I started doing it back in 2012 when I was renting, and now I have two houses...both hacked. I'm single so I can do whatever the fuck I want so no spouse telling me to stop, it's all my choice how I choose to live.

[@MountTrevorest91]

David, you can use 75% of the market rent of the remaining units in a multi family beyond the unit that you’ll be occupying. What’s more, when you move out of this property into your next one, they no longer use the rental income as income and then divide the mortgage debt, they simply subtract 75% of the rent directly from the mortgage. Effectively cancelling out the original debt. This is a HUGE distinction that I didn’t learn about until I worked for multiple years in the mortgage industry. You would do well to let the people know about this!

[@JustSomeGuyNotAnAlien]

I am confused can you word this in a different way for me? I am trying to understand what you are saying. 😢

[@mitchellbrown9713]

I completely agree with all speakers that house hacking is a terrific idea. I just wish they would tell California landlords to be careful. There are many people out there who want to do them wrong. Work with a property manager. Do A LOT of due diligence before giving someone a key to your house.,

[@onwugharablessing8264]

A true invested stays in the market long term and does not panic. I never panic in 2008, and bought the best deal in Real Estate- a house at 5.5% at $50,000 that now is valued at $185 K

[@boseayoade3072]

Very big con and that is why i have always maintained that people should never have their money in the bank! Get a financial advisor and even make so much more while saving!

[@Mathew-bp5bm]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months

[@blessingoffong7620]

we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?

[@justinscott6855]

It would be a very innovative suggestion to look out for Financial Advisors like "Jackson Sten Marsh." who can help shape up your portfolio. Trying times are ahead, and good personal financial management will be very important to weather the storm

[@donwhizz7880]

Where do you keep your money, if not the bank?

[@danielkunimoto4436]

One of the added challenges is when you have a family/children. Can be trying to thread a needle - finding a multifamily in a good school district, in your price range, with a unit that has enough beds and baths for the fam, gauging demand of your rental unit, etc. And with the lack of inventory, makes it even more tough. Would be a great show! House hacking experiences with a family!

[@ginalowe9103]

If you go to any city and go to an area that may not have the best schools, there are people still living there and some have children. These may be people who rent their entire lives. Regardless of who owns them, they make money. In my 4 plex I would upgrade if and when people move out. But mine don’t. I take safety issues seriously. I do maintenance. They have safe, liveable homes. I maintain my property. But it is not in the best area. I keep the grass cut. And I make money.

[@lilysrq]

Feels like ditto for any kind of caregiving situ (elderly, handicapped, etc) when one has to hack their own home first... must "simply" take more effort to find the fit. Let's make it so!

[@solo.life.travels7215]

I am househacking in north Carolina, i closed on my duplex last October, i would love to tell me story on the show ☺️saving money towards property #2

[@Boris5Z]

I am house hacking for 11 years now. Have 2 ADUs bringing enough rent to cover mortgage and all bills. Started renting them at 450 and now they are at 700. Best decision I ever made. This also allowed me to save enough to buy 6 more rental properties over the years.

[@gracejiafengliu]

wa!! very impressive work!!

[@Dudemanbro1577]

It made more sense for me to house hack a million dollar duplex than to buy a $700k single family. Bought in a desirable area and should always have tenants since I’m near a university and public transportation. I’m closing in August and can’t wait!

[@Brooklyn94269]

You can have multiple fha loans but it only applies to the exception rules … you have to move a far distance from the original, or size of the family increases ( marriage/children), or moving away for work

[@abundanceatms698]

Two house hacks completed, refinanced the first FHA into a conventional to use an FHA again on the second

[@ddfelder2]

That’s my plan as well!

[@jorgesalazar818]

Why an FHA over a conventional loan?

[@ddfelder2]

@@jorgesalazar818 3.5% down. Unless you do VA or NACA that makes a heck of a difference in a HCOL state.

[@cbbcbb6803]

There are people that are both comfortable *and* wealthy. They do exist. They are the ones that can walk and chew gum, uhmmm, at the same time! I think what you guys are describing *is* walking and chewing gum at the same time. I like what you are saying. Keep doing it.

[@EatinBulletsForDinne]

I did this with my first home and even still do it. Bought a new home for 200k in 2019. moved my cousin and our 2 friends in so i lived in a new home completely free. Sold it in 2021 for 360k. Bought a 6 bedroom 4 bath "new generation" home from lennar so i rent the apartment side out for half my mortgage and still have my 2 friends living with me. So i pay 250 a month for a 500k 4000sq ft new home. I live in florida btw.

[@Mikeandnattravel]

Do you guys share the kitchen ? Also when renting a room or two can one use the income from that as a down payment on another property or as “ income “ when taking out a loan ? I’m in Florida also , I noticed there’s barely any multi families out here .

[@nbgvfcmnbh6226]

What a fantastic episode. So many gems. I listened to it 3 times. 5 stars. Thank you.

[@heatherharmon2679]

I am currently finishing my walkout basement to rent out. I live a mile and a half from a university and in a nice neighborhood. After a divorce, I have decided I need to be smarter about my money! Hoping to start renting in June!

[@gracejiafengliu]

I love you said, "be smarter about my money"! We need it!

[@cameronbiggs4610]

Another variation that my wife and I are about to start doing in our 3/2 in San Diego is to convert the garage, live in it, and rent out the main house. The main house has waaayy more earning potential than the 1 bedroom in the garage. Lots of savings (may even cash flow some) for a little bit of uncomfortable. Hoping this will catapault us to our next property fast. Gotta have a willing spouse though 😂

[@welmercabugwas3977]

Ohh man that’s a good idea bro. I’ve converted my uncles garage into a big ass room, I wonder if he would rent it out lol

[@Rainbow_1981]

Wow that’s good..hope you find a tent who agrees for that. All the best.

[@Messup7up]

Hope you find a willing spouse 😂

[@Stellajack04]

I bought my home knowing I couldn't have paid the mortgage without house hacking. I currently airbnb two rooms, rent one and raise enough money to pay my mortgage of over $3k. I would never want to pay mortgage out of pocket. It is little stress and people don't understand this.

[@solo.life.travels7215]

That's awesome!! What area do u househack

[@adelolasokoya]

thats smart

[@robwithrbk]

The key to investing in real estate is for someone else to pay for it. Buying a single family home is the hardest way to "invest" in real estate as the entire burden is on you. The 3.5% fha (zero down VA too) option for a 3-4 unit is the best way to invest as a rookie. And yeah, if you rent the rooms out on your primary unit you occupy, you're on your way. The key is ultimately get out of that PMI which on some deals is $800mo. I'm pretty certain that if you implemented this strategy in 2020 in SoCal, you're housing expense is almost zero. I'm not a rookie investor however, as prices come down, I'm probably going to buy a 4 unit via FHA and occupy one. It's a great play. I won't be renting out rooms though. Just the other units on long term leases.

[@The-Sentinel]

You can do an FHA with a 4 unit quadplex? I thought those required other loans and 20% down regardless if you are in it?

[@robwithrbk]

Check your county loan limits. But you can buy 1 to 4 units with fha. 100%

[@robwithrbk]

@Christopher replied to the thread. Yes. You can buy fha on a 4 unit but you have to occupy 1 unit

[@The-Sentinel]

@@robwithrbk is that single family or multi family if you live in it?

[@robwithrbk]

@@The-Sentinel Can you rephrase the question? You living in something doesn't make it a house or an apartment. I don't understand the question.

[@claybeaster]

Driving out to my duplex I just purchased that I’m going to be house hacking as we speak! Thanks guys

[@musademir5447]

Hell yes LBTNCRP300X . Going to have a huge Q4

[@eddylee986]

Why does no one talk about house hacking from a family point of view. You always interview ppl that talk about " me and my wife this, me and my wife that." Does everyone wait to start a family afterwards? Does anyone procreate before getting into real estate? Also thanks for everything that you guys are doing

[@IL_Bgentyl]

I was thinking more of the aspect of living with family. Most countries house hack with less steps.

[@onanothernote]

Yes 👏🏾👏🏾👏🏾! I'm preparing for my house hack for next year and renting my current home 🙌🏾

[@lgreen07091981]

I got lucky, and used a NACA loan for my first home it was a two family and then a couple years later when I moved to another town I purchased with an FHA loan with 3 1/2% down. This started me on the path to wealth.

[@katrina2empower]

Yeah but with NACA you have to sell that first property after living in it for 5 years and it limits your ability to purchase more property because you can only own 1 piece of property through them.

[@lgreen07091981]

@@katrina2empower No true… after 5 years you don’t have to sell you can just continue to live in the property… also no on is checking in on you to find out if you have moved or not. Lastly. If you want to buy additional properties then you can just buy them. If after a few years you decide to refinance then that is fine but if I brought down my interest rate I would never refinance. If a brought with NACA now when interest rates are high and I never do the buy down then I would refinance when rates go lower. The major issue is that people do not want to wait or explain that they spend $500 playing Lottery, going out to restaurants, or clothes. If you make good money but can’t safe then there is usually that you spend $ like you drink water.

[@jwalk937]

I'm first in but currently loving my 2022 bought triplex that im house hacking

[@dliv1687]

I was against house hacking until now. Great show!

[@Robuilt]

Aw yeah! Love to hear this!

[@scrumptiousjdp]

46:00 Rob, It was not just house hacking that made it work for you. You were Also very lucky the market really boomed.

[@shelleyhuskey1216]

I need to have concrete examples. What does the house look like, what does the renovation look like, how much do you spend or not go over when you renovate, etc??? Can you show me examples? Spending my hard earned money is tough for me and I am afraid of losing it.

[@Michael-4]

In the UK you can't even do this. It's treated as a separate dwelling. You have to have them rent a room in your main house. In fact you can have two lodgers before it becomes a HMO and there's a a 7k tax relief. I bought a van and converted it to a camper pre covid. I can just about stand it now and soon I'll have enough saved for some land.

[@thaatguuy]

Overpaid on my house and I am still cash flowing +$500 after following the house hacking strategy. Imagine if I actually got the property at a discounted price? Seriously life changing.

[@stevec404]

Totally agree. I am looking for my first multi family house in which to live...and house hack. Already pre qualified and approved for enough to find a decent property. It will be a two family, with three bedrooms on my level. Two of those will be rented out. I have lived with others both as a renter and landlord...it is easy if you do due diligence, and have very clear living arrangement guidelines. Have been with an agent for one week...about to ramp up his effort, and mine.

[@axaflaxar]

Been house hacking since 2006. Has helped me build my portfolio

[@nurlannebiyev5698]

Ok, I am sold. I will HODL my LBTNCRP300X for the long haul.

[@michaels7866]

The problem is there's almost no way (unless you have deep pockets) to cash flow on properties in the current market. Interest rates are high, homes are increasingly expensive, and the rents aren't covering all the costs.

[@Lusaiscool.]

Yes, I agree with your point of view.

[@Lusaiscool.]

@@SigFigNewton Great point, I agree with your point of view.

[@lpslancelot05]

House hacking large properties in less expensive neighborhoods cash flow. All my expenses are about $2300 per month. I take in $3400 per month, and live here for free. So, if you add my room, the take on my cashflow is around $2k per month. If I do this 4 times that’s $100k net.

[@michaels7866]

@@lpslancelot05 Its based on location.

[@lpslancelot05]

@@michaels7866 true, it won’t work in all markets. I’m in Fort Worth. DFW has high rents, and still fairly low prices. Especially Fort Worth area.

[@amnanawaz6770]

Love your content. A duplex or fourplex would be ideal but it’s close to impossible to come across one. I’ve been searching for one for about a year down here in Houston

[@DJTrinivibes4U]

Buy land and build

[@countrysister700]

@@DJTrinivibes4U but easier said than done.

[@vanessiaclark6701]

Same! I searched in Houston for a while but could not find a duplex in a nice enough area. I'll start looking again soon because it really is a great way to save money.

[@ze_german2921]

It was alway difficult finding great Triplexes, Fourplexes ect. How do you feel about just acquiring land and build it?

[@zacharyfair6738]

I bought a duplex with an old shed (200sq - unfortunately cant drive car into it...) out back along a grass alley. Rent it for $95/mo... Tenant is happy because normal units are $200 or more.

[@esmerkanat]

Please talk about LBTNCRP300X the more the merrier!

[@kdkdjddkdjdk]

This was unexpected that LBTNCRP300X move would enable a new asset called the LBTNCRP300X but I am in a way impressed with it

[@litoreggie]

Finally selling my first home to start my first house hack with a possible two unit. I’m hoping to make 80k-100k selling this house . I live alone so I’m really nervous but hopefully that will be enough to safely get things going!

[@richardreynoso1399]

Happy Easter, Nikki! We share the same strategy. Any chance we can connect?

[@richardreynoso1399]

Do you have FB? We can delete our chat here once we connect.

[@Gem_ini]

@@richardreynoso1399😂😂

[@ChristopherSmith-yb6mh]

Year out of college making 70k. I want to get into house hacking but I don’t know what my budget should be. I have coworkers making the same that could move in with me. Should my budget be based on my 70k or if there are 3 of us, base off 210k annual income. Thanks guys!

[@kristensimpsonrealtor]

As I Realtor I would recommend buying something that you could afford by yourself if you had to. Purchase your property, get the roommates and bank their rent. It is an awesome strategy if you are just starting out!

[@lpslancelot05]

Just buy it yourself. Buy what you can afford. Don’t take on partners when you’re starting.

[@alperen_dereli3593]

Could you please talk about LBTNCRP300X it’s very strong and took off in short time thanks

[@bcat8619]

Cash flow vs equity/appreciation. Which is more important when you are first starting out? I purchased a manufactured home to get my foot in the door. I paid cash for it and net about $1700/mo. I am working on moving onto my next investment. I can purchase another manufactured home for cash or purchase a stick built house with a mortgage. I know they say manufactured homes depreciate but the cash flow is appealing. I do know a stick built home appreciates but the cash flow will be much less. Houses are expensive here like mentioned in the video. My house is paid off and I have no mortgages or debt. I wanted to do a short term rental but my area seems to become oversaturated with them. It would be a long term rental.

[@PhantomyreValentine]

What if you're caring for your elderly parents, cannot move them and you yourself cannot move out, and you live in an expensive area? What options would we have?

[@countrysister700]

Accessory Dwelling Unit? My cousin literally moved everyone in his home around so his very feeble parents and their hospital beds would fit in the master suite. If an ADU won't work for your parents, could you or kids or storage or ??? camp out in a very simple extra structure?

[@cometcal2]

If a person's house is paid up, what do you think of the idea of keeping the house, and then use it as collateral for a mortgage on a rental duplex? Are there some things to be aware of doing this?

[@DoubleAIV]

I just moved back in my family home with my mom, no rent or debt. High paying engineer job that I kinda hate, and want to replace with real-estate income, how should I go about it?

[@elintrinh8094]

Hi. I’m a huge fan. I have a question-you talk about putting down 3.5% but I don’t hear you say anything about mortgage insurance. Is there a way to put down 3.5% without paying mortgage insurance? If there isn’t I think that it would help to mention that you will have to pay mortgage insurance if you put down 3.5%. For a home here in Hawaii my mortgage insurance can be $500/mon. I think when you say you only need to put down 3.5% it’s misleading. Thanks

[@MrPurposebydesign]

refinance out of the FHA/ make sure your property is cash flowing regardless

[@melissagomez4185]

Can you have a guest from New York on your show to explain if this is possible in NY?

[@vaughanmoody]

Sorry to throw in a petty comment but shouldn’t the word “discomfort” be used instead of “uncomfortablity”? Other than my grammar-police input here, I love the content.

[@lovelymsvee65]

I think I love ❤you and bigger pockets, thank you for the invaluable information you give on KZbin, love you guys❤❤❤❤

[@biggerpockets]

You rock!

[@BrianGivensYtube]

Excellent podcast guys, I am so convinced house hacking is my bridge to wealth.

[@mariwfeeridet7395]

should you sell a little of LBTNCRP300X when you start to make a profit or just hold?

[@TheBigBananaaa]

❇️ I rented rooms to students and young professionals in my place for more than 20 years and the cash 💰 I saved I bought a new condo with the cash ✅ the condo I bought 5 years ago doubled in value ✅ both properties in good locations are going up in value ✅ I am at that point where I don’t want to share my bathroom 🚽 so the condo is just for my use only 🎉

[@mhypark]

What was the website they said to list your mid term rental? I cannot remember

[@DarioAlburquerque719]

I’m new to real estate investing, but have been listening for the past month. My girlfriend and I currently make $160k a year and our mortgage and taxes are $850/month. Do you think a person in our situation should still house hack? We are hoping to save about $50-60k in the next 12 months to get some deals started. Im not sure if we even need to save that much, but if anyone has advice that would be much appreciated!

[@Robuilt]

Totally. I think househacking is a great way to dip your toes in the real estate pool.

[@Lusaiscool.]

Maybe I can show you a way.

[@lpslancelot05]

Yes, buy a 5 bedroom house, live in one room and rent out the rest. With yalls income, you could hope every year and get to 4 house and 25 doors and be millionaires in 15 years. Just how comfortable do y’all want to be?

[@sluggishincaliforniatv6741]

House hacking is getting beat to death on this channel

[@christopherherbert2407]

Getting your dream house requires alot of Sacrifice and money investment experience...

[@bernardlynch5226]

I agree with you on money investment. Having a good and experienced investor is the best goal to a successful investment.

[@TJ-th9hw]

This was a dynamic episode about House Hacking! I learn a lot from each one of you view points. What I get out of the Podcast is if one wants to be wealthy then “ House Hack” is the best way to go. Thanks gentlemen!

[@Dope_Digital]

I house hacked out of necessity. Worked out well for me.

[@lilysrq]

What a great podcast! Thanks! "I was too busy waiiting for nfts to come back" ❤😂 Haaaa! Rock on, frens.

[@quinngarman7335]

At 24:00 you begin talking about different down payment requirements for multi family homes. So is there no way to get a duplex with a lower down payment? Like with an FHA loan for example.

[@casasdenick]

It is possible for up to 4 units. What many fail to mention though is FHA has a self sufficiency test. Even if you plan to live in one of the units the building must pay for itself in order to qualify for a FHA loan. If the numbers work it is a great way to invest!

[@lauradevries6864]

Thank you! I so enjoy this podcast. Real actionable advice that almost anyone can take advantage of.

[@toddboothbee1361]

I don't have a job and so I can't get a mortgage. Can I get this rental investment ball rolling if I buy a property for cash?

[@haylaz-]

Can LBTNCRP300X be staked on Ledger?

[@rtt2208]

LBTNCRP300X should be on the list. I'm sure the price will rise nicely next year.

[@melissagomez4185]

I have a question- why only 2 years? Why that particular general guideline? Please explain.

[@billymcavoy4929]

Great episode - unfortunately I’m moving to NYC so house hacking will be a bit difficult given up front capital required to buy multi family and my gf desire to not have roommates. Quick question not related to this episode.. I purchased a condo in December 2020 and I currently live in my unit but will be renting it out come June 1st. I have a good interest rate (2.75% rate) and have been paying an additional $250 down on principle each month. At this rate it’s estimated that I’ll pay off my loan 10 years early saving ~$31k in interest payments. What’s your opinion on this strategy? Am I doing the right thing or should I forgo paying extra down on principle each month?

[@demariusparmer4497]

Would you recommend down payment assistance for the house hack strategy?

[@Pluhdao]

If the figures make sense then go for it. You don’t have to wait until you have the down payment. Use leverage if you have to and the numbers make sense. Don’t forget to factor in capital expenses and vacancy.

[@Alessandro1983]

Great content. House hacking is my next move. But i live in California. I dont see any hope here. Gotta move to Nevada or Texas 😊

[@realestateinvestingtips]

Great points! Finding a multi-unit property or one with an ADU can definitely be a great way to start house hacking. Renting out rooms on vacation rental websites like Airbnb or VRBO can also be a good option for those who want more flexibility. However, as you mentioned, it's important to do your research and understand the local laws and regulations before jumping into it. It's not a quick fix, but with a solid plan and some effort, house hacking can be a great path to homeownership. Best of luck to anyone considering this!

[@franc587]

Now a day is kind of hard to get good deals (my opinion). Interest rates are high and so are prices. Now, I'm not house hacking my private home that won't happen. Investment property in the other hand, Sure

[@lpslancelot05]

Nobody cares, either do it or don’t. It’s up to you.

[@kerrismith9632]

MUCH harder than they make it sound. Consider all aspects before considering.

[@lpslancelot05]

It’s actually easy. Buy the house, then furnish the rooms, post on Facebook, easy peasy.

[@sharlinehill509]

Thank you bigger pockets i really appreciate you guys The, thanks 🙏 for all t inform information e

[@alexanderpitman9433]

Sadly, there is a growing movement in my area to not allow renters in HOA neighborhoods or subleting a room to another person for longer than two days.

[@sharlinehill509]

I love it, you guys are great, with investment in properties, great information

[@Qharisma]

Everyone talks about house hacking like they are so easy to find ... I haven't seen a duplex availble for purchase in my market in 3 years .... smh. Actually I saw one for 750k ... Well outside of my price range.

[@MeltingRubberZ28]

I've been looking for about a year as well. Don't lose faith bud!

[@brendascally116]

Curious how homeowmers looks at renting your pool? How best to protect yourself if someone gets hurt?

[@logicalblueberry]

We live on 2 1/2 acres. I've often thought of renting out bedrooms once our kids move out, renting out our RV access, renting space for RV or big rig storage, etc. What gives me pause is that there are so many crooks out there and California has laws that make it difficult to evict non-paying renters. I'm afraid that granting access to our property might make us vulnerable to robberies or lawsuits. Renters may not pay the rent. Renters would learn our habits and could easily come back to steal everything we own. Since we have a disabled daughter, I would only feel safe renting to females. However, there is still the risk that a female renter might grant access to a male friend who's a pedophile, putting our daughter at risk. I'm not sure it's legal to refuse to allow a renter to entertain male guests. I have zero tolerance for barking dogs. Is it legal to refuse to allow pets? I don't want to be paranoid, just trying to count the cost before jumping in. What is the best way to find out what whether it's legal to add a tiny home or store big rigs on my property?

[@tracylieu3211]

Any idea on tax depreciation to claim on 2022 tax filing when you live in main house and converted garage to adu 9/2022 but have long term rental on 01/2023. Thank you.

[@reneetowns5085]

Unfortunately a lot of municipalities have policies that you can have only one “residence “ per address; thereby if I were to convert my shed which is 18x24 into a she shed ( I mean tiny house ) how could I Airbnb it out without the powers that be finding out ? Also how do you get something like that covered with insurance ?

[@aureliomandujano5927]

What if you buy a duplex , and rent both and stay with your parents for a year or 2 and receive more money

[@telonbowden8877]

There are ways to get into another FHA without refinancing. It may take time and patience, but possible. There’s a 100 mile relocation exception, in need of more space, divorce and I believe there is another

[@adrionacarr6903]

Love, love you guys for all the insightful commentary you share with all of us who watch your podcast show. "Keep the knowledge coming." Thanks 😉

[@lilysrq]

Agree! :)

[@lawrencekdog6243]

What are the taxes owed on this rental income, I have heard it is not considered income because you own the home and are renting rooms, is this the case?

[@dannychiquitoofficial5061]

I have 3 houses with about $250k in equity combined. How can I do this?

[@quick2buyhomes496]

With house hacking comes a lot of problems. If you have tenants that like to hound you, they will bug you about everything little minnute thing going on with that property. What if they have screaming, loud kids and you are not accustom to that? What if they are a couple that argue and fight all the time? You are going to be miserable. I know he asked, "Do you want to be wealthy, or comfortable?' But my question would be, "Do you want your health to go down the drain because of high blood pressure, stress, anxiety, and so on?" A year or two of these things can affect your health in a big way, including adopting new health problems along the way. Be smart, and syndicate, keep your properties full, and avoid stress, anxiety, and other mental problems that can surface due to living in a situation that you may seriously regret.

[@innerpeaceandselflove]

You have to screen tenants very well,get a tenant with older kids,or buy a property that has a tenant already there that has been there for years and is trusted!

[@logicalblueberry]

Those are great points. While my hubby was looking to rent a room while temporarily working out of town, we noticed that people renting rooms almost always specify, "no couples" and "no kids or pets". These policies would avoid a lot of headaches.

[@lpslancelot05]

Don’t rent to couples, don’t rent to people with pets, don’t rent to people with kids. I know it’s rough, but it’s how you have to play the game. I have 5 doors and house hack.

[@adelolasokoya]

@@lpslancelot05 would love to connect with you

[@lpslancelot05]

@@adelolasokoya How would you like to connect?

[@irockbmw6s908]

Real issue with this is anywhere near me a triplex is 800k to over a million dollars. 3.5% down on that u have astronomical mortgage. With todays interest rates. Lol. I d have to move from bayside queens to the bronx to make this work.

[@gomenasai_5469]

Most of these scenarios include me living on the property or even within the same wall with future tenants. Am I able to take advantage of this Strategy if I don’t live on the property? ( I live comfortably with family ). Or does this strategy only work if I live on that “first property” to start my house hacking.

[@lpslancelot05]

You can buy it as an investment property, but they’re going to need 20% down. If you want the low down payment, technically, you have to live there for 12 months, or the bank can call the note.

[@RJVrealtor]

Can you get a mortgage for 3% down, yes. In this market are sellers accepting offers coming in at 3% versus the offers who are putting down 20%…

[@denisedoherty4909]

If you are getting a pre-approved mortgage why would seller care what % you are putting down?

[@RJVrealtor]

@@denisedoherty4909 Risk assessment. Because the closing process can take weeks we don’t want to take a home off the market and waste time with a buyer who might back out. Someone who is put 20% down statistically is much less likely to back out than somebody who has put down 3%. They have more skin in the game. All else being equal a seller will almost always choose the higher down payment. So while yes you can put down 3% to get the loan, the seller won’t like it compared to other comparable offers

[@casasdenick]

Depends on the market. Most of my borrowers (I'm a lender) put as little of their own money into their deals as possible. Our offers are accepted left and right. One of the many things I love about real estate is how diverse and multi-faceted it is regarding our approaches.

[@abiusa]

Why no one ever talks about the mortgage insurance that comes with a 3.5% fha loan? This MI never goes away, where as conventional it will go away once you have enough equity.

[@thrivecartuniversity]

PS. FHA does allow you to use 75% of the projected rentals of the other units for qualifying per FHA underwriting guidselines.

[@jonlee6114]

Is there a way to hire one of these guys to personally advise me? Or another similar service with reputable/successful investors? I want to start but too overwhelmed.

[@casasdenick]

What do you have questions on? I'm an investor and lender that is always open to help where I can.

[@jonlee6114]

@@casasdenick thanks Nick! Hard to fit all the details in a KZbin comment. Possible to email or call you? I have $400k cash, in LA, 38, looking to buy my first rental, but have lots of Q’s.

[@edgara1250]

I will give u guys a tip that will save you a HUGE HEADACHE…if you buy a duplex and live in the first floor, well regardless you should still do this. Put screws on your floors to stop the squeaking from the people upstairs walking, or worse…when theyre in their bed getting their workout in, if you know what i mean…you will hear that floor squeaking nonstop and it will drive you crazy 😫🤯 I put LVP flooring and didnt fix the squeaking. Now im thinking of drilling through the lvp to fix the noise and then figuring out how to cover or blend in the holes.

[@MDbinge]

I saved $50,000 house hacking in College. Student House Hacking is awesome!

[@Lusaiscool.]

lol You are such an interesting person.

[@lorenazaragoza6411]

Problems with sharing walls? Same as living in a dorm, apartment or condo

[@lpslancelot05]

I share walls with 5 other guys, it’s not a problem. Just get busy professionals, nobody is ever home.

[@kevinrichardson7021]

kudos on the biblical Mathusala explination

[@hannahcasey1999]

Thank you guys so much for this information! Just got my first long term rental and was trying to figure out what the next step is. Was leaning towards house hacking but after this, I am 1,000% sold on the strategy! Love y’all’s passion for helping people build wealth! Thanks for everything you do 👏 ♥️

[@solo.life.travels7215]

Congratulations!!!! Im househacking here in N.C

[@TechInRealEstate]

Great podcast!

[@leonaking1865]

Great job yall, Henry do you have RE group here in Houston or Texas?