The Importance of an Umbrella Policy for House Hacking

Discussion on the significance of having an umbrella policy when house hacking a multifamily or single-family home, including the guest's personal experience and advice on protecting personal assets.

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Saving for your first rental property can take a while, but adding side hustle income could help you stockpile enough cash to buy much sooner. Today’s guest discovered the PERFECT side hustle to pair with his W2 income—allowing him to fast-track his savings and close on his first two investment properties in no time!

Welcome back to the Real Estate Rookie podcast! Today, we’re joined by Dan McDonald, an investor who house hacks to help cover his mortgage in an expensive market. Dan’s goal? To reach financial freedom by the age of forty. And, with two newly renovated duplexes that should not only cash flow but also appreciate in value, he’s well on his way to achieving that lofty goal!

If you don’t quite have enough cash to invest in real estate, don't worry—Dan, Ashley, and Tony are here to offer some timely advice on how to increase your income with side hustles. You’ll also learn how to get started with house hacking (and how to convince your spouse that it’s the right move). Stay tuned until the very end to hear Dan’s top house hacking tips that ALL rookies must know!

In This Episode We Cover:

The fast-cash side hustle that can help you buy your first rental

How to get your spouse on board with real estate (and house hacking!)

The “easiest” real estate investing strategy that ALL rookies should know

Essential tips and tricks for first-time house hackers

Appreciation versus cash flow (and which one YOU should target!)

When to offer MORE than the asking price on a property

And So Much More!

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