Closing costs and reserves are two big things to consider when buying a house. Clothesing cost is a broad term that can encompass a lot of different things, like lender fees or prepaid taxes. You don't necessarily think it's the best idea or most prudent idea to buy a house hack for ten thousand dollars. If you're in real estate long enough, you'll know that as soon as you move in, hot water heater is going to break,. heating systems going to g or tenaneta root, or even something small, plumbing issue, toilet, whatever will go wrong.
IN THIS EPISODE, YOU’LL LEARN:
02:16 - Robert’s experience writing his very first book.
08:00 - What a house hack is.
12:37 - Why house hacking is such a powerful wealth building strategy.
24:54 - Who house hacking might be good for, and who might it not be good for.
27:20 - What Robert will look for in his next househack.
30:36 - Why building a team is critical when purchasing a house hack.
35:42 - How Robert thinks about finding quality tenants.
47:38 - How investors can go about finding their first house hack.
01:00:55 - What the biggest risks are with house hacking.
And much, much more!
*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.
BOOKS AND RESOURCES
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