Real Estate Rookie This Real Estate “Rule” Is Costing You Wealth! (Rookie Reply)
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Jul 11, 2025 Dive into house hacking strategies and learn how to balance high listing prices with reduced living expenses. Discover the ins and outs of refinancing properties in a high-interest rate climate, along with tips for increasing property value. Navigate the tricky waters of tenant lease breaks and how to maintain positive landlord-tenant relations. Uncover alternative financing options for rehab projects and the importance of modern security tech. Get ready to rethink real estate rules that may be costing you wealth!
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Beyond the 1% Rule
- Don't rely solely on the 1% rule; evaluate multiple financial metrics before house hacking.
- Consider long-term benefits of house hacking, including equity build and rent increases.
House Hacking's Real Win
- House hacking's value lies in reducing living expenses even if it's not rent-free.
- Saving any amount monthly on housing costs contributes to financial progress.
Refinance Needs Value-Add
- For refinancing after a short ownership, aim for properties needing value-add to boost appraisal value.
- Avoid expecting property appreciation to cover refinance if no improvements are made.