HOUSE HACKING YOUR WAY  TO FINANCIAL INDEPENDENCE

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Today we'll go through how you can achieve a similar income with closely held real estate holdings while having to save vastly less money.

The Model

Let’s say you focus on purchasing a fourplex apartment every two years. This four-family apartment building cashflows $200 a door, including professional management. Let’s say you self-manage it and after costs associated with that earn an extra $50 a door.

How long will  it take?

I believe this is a discipline that benefits from momentum. When you decide to start, it may take a year to acquire your first building. Then it may take two years to get the hang of the ropes, save up enough money, and feel confident buying your second one.

What is the down side?

The low down payment FHA owner-occupied loans come with a lot of fees. They also come with many terms and conditions that restrict lending.

Should I go for a Single Family House?

This model works really well not because it is focused on the cost reduction of your living expense but on acquiring quality assets using mortgage products that benefit owner-occupants. It is a real portfolio builder.

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