There is an almost fool-proof way to invest in real estate in 2023. It requires very little money down, no experience in investing, and can be used over and over and over again to build millions of dollars in real estate wealth. The strategy? House hacking! Real estate millionaires agree that this strategy is the BEST way to get started investing and can help launch you to the next level of financial freedom. You DON’T need a ton of time or money to house hack, and doing so could set you up for life.
And if you think our empire-building hosts, David Greene, Henry Washington, and Rob Abasolo, aren’t spitting facts, think again. All three of these investors started house hacking and credit it as the greatest move they made to build wealth. But how does house hacking work, and if it’s such a smart move to make, why isn’t everyone doing it? In essence, house hacking allows you to monetize your living space. So, you get paid to have a mortgage instead of paying a mortgage. This could mean renting out your spare bedrooms, Airbnb-ing your mother-in-law suite, or buying a duplex and renting out the other side.
And during a time when mortgage rates are higher than many of us have seen before and housing affordability is at an all-time low, house hacking can become your savior of savings, helping you keep more money every month. This compounded savings allows you to buy even more real estate, build your dream portfolio faster, and retire earlier than you thought. So, if you’re ready to invest in real estate, don’t sleep on house hacking!
In This Episode We Cover:
House hacking explained and why it’s the EASIEST real estate investing strategy of 2023
Investing in real estate with no and low money down and why house hacking is the perfect starter option
The different ways to house hack, from buying a duplex to renting out rooms
How to find and analyze your house hack to ensure it’s paying for itself
The best housing markets for house hacking and why you DON’T need to cash flow
The house hack stack and the secret to building a multi-million dollar portfolio over just a few years
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
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BPCON2023
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Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
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Find a BiggerPockets Real Estate Meetup in Your Area
David's BiggerPockets Profile
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David’s YouTube Channel
Work with David
Rob's BiggerPockets Profile
Rob's YouTube
Rob's Instagram
Rob's TikTok
Rob's Twitter
Henry's BiggerPockets Profile
Henry's Instagram
Try the BiggerPockets Real Estate Calculators on Your Next Deal
How to Start a Real Estate Portfolio with Just $10K
Books Mentioned in the Show:
The House Hacking Strategy by Craig Curelop
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-745
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