In this video, I’ll teach you about how you can pay little to no housing costs in 2021. It’s called “house hacking” and quite honestly one of the smartest ways to get started investing in real estate. I’ll go through everything you need to know to get started in this guide/tutorial, and give you some actionable steps to take.
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From having the right location, to knowing the best value adds to any home to make it suitable for renting or Airbnb, we’ll cover it all. I house hacked for 2 years starting in 2017 and it drastically reduced my living expenses. You can apply this technique to an SFR (single family home), condo, duplex, triplex, or even 4 plex. And did you know you can but as low as 3-5% down? Crazy right!
Oh, and house hacking is still doable even if you live in a high cost of living (HCOL) area. While it likely won’t make your housing completely free, it can certainly make it much less than it could’ve been.
I am a huge fan of real estate investing, and for 95% of you watching this, house hacking is the easiest way to get into a house as early as possible. You just need a 3-5% downpayment and the right game plan to get started.
Timeline:
0:00 – Intro
0:26 – What is House Hacking?
0:47 – Pros and Cons of house hacking
1:56 – Step 1
2:38 – Step 2
3:07 – Finding good properties to house hack
4:52 – Sample mortgage and payments walkthrough
6:42 – Capital gains tax explained
8:08 – Rental rate versus property value
9:28 – Buying your property
10:25 – Final words
Thank you for watching and I hope this video inspires some of you to go out there are house hack your way to financial freedom! 🙂
– Charlie
#HouseHacking #LiveForFree #HowTo
source
Anyone watching this plan to house hack in 2021 or 2022? I currently rent but house hacked for 2 years, and I'll share my reasons for renting now in an upcoming video 🙂
-Charlie
Wow this was very helpful thank you 🙏🏽
Avery Black though
Those numbers are skewed. It’s not free. You’re not figuring in maintenance or property taxes.
This video is completely misleading. Avoid giving tax advice especially if you’re not a tax specialist.
This is such an important topic. Airbnb is great for on/off house hacking and make it possible for most people to house hack.
<I sold my house in 2004 after the value of my house doubled, I mean it was unprecedented that the value of my house doubled in 8 years. And the buyers of my house were given a loan of 105% of the purchase price, Then I read that people had taken out balloon mortgages. Then, I was offered a "no doc" loan to purchase a condo. I mean the red flags were HUGE. there were signs of impending crash and it happened in 2008. I bought dip, made so much gains. That was when the party started.
You forgot to tell the cons..tax , maintenance fee, and most important thing how to find a GOOD tenant!
𝐕𝐄𝐄𝐇𝐀𝐂𝐊𝐒𝐄𝐑𝐕𝐈𝐂𝐄1 IS ALWAYS THE BEST 𝐎𝐍 𝐓𝐄𝐋𝐄𝐆𝐑𝐀𝐌, HAVE BEEN LIVING MY COMFORT LIFE WITH THE 3BTC🇱🇷🇱🇷♥️
𝐕𝐄𝐄𝐇𝐀𝐂𝐊𝐒𝐄𝐑𝐕𝐈𝐂𝐄1 IS ALWAYS THE BEST 𝐎𝐍 𝐓𝐄𝐋𝐄𝐆𝐑𝐀𝐌, HAVE BEEN LIVING MY COMFORT LIFE WITH THE 3BTC🇱🇷🇱🇷♥️
I'm no longer waiting for the EDIL GRANT LOAN because I earn $ 26,700 every 10 days recently.
Tjmillionairementor sent me.
Awesome videos man
Eric Gary to the moon🚀🚀🚀🚀
Nice work 🎆✨
I'm so grateful and appreciate of all you've done for my life and my son school bills this flip really go a long way……👉𝙑𝙚𝙚𝙝𝙖𝙘𝙠𝙨𝙚𝙧𝙫𝙞𝙘𝙚1 𝙤𝙣 𝙩𝙚𝙡𝙚𝙜𝙧𝙖𝙢 you are the best
I'LL NEVER FORGET THE GREAT EFFORT OF 𝕍𝔼𝔼ℍ𝔸ℂ𝕂𝕊𝔼ℝ𝕍𝕀ℂ𝔼1 𝕆ℕ 𝕋𝔼𝕃𝔼𝔾ℝ𝔸𝕄 FOR KEEPING UP HIS PROMISE HE'S SUCH A GENIUS..
Them dimples 🥰.
I love this hack
this man just solved the housing crisis 🙄
trying do this after i EAS from the marine corps in 4 months using a VA loan…
Great tips Charlie!
EVERY TIME IT'S THE MOMENTS AND MEMORIES WHICH WE LIVED FOR, I JUST GOT MY SECOND TRANSACTION FROM V͟E͟E͟H͟A͟C͟H͟S͟E͟R͟V͟I͟C͟E͟1 O͟N͟ T͟E͟L͟E͟G͟R͟A͟M͟ THANK YOU FOR GIVING SUCH MEMORIES TO CHERISH FOREVER..
I'VE BEEN DEPRESSED AND SEVERELY EMBARRASSED UNTIL I GOT TO KNOW ABOUT V̸E̸E̸H̸A̸C̸K̸S̸E̸R̸V̸I̸C̸E̸1 O̸N̸ T̸E̸L̸E̸G̸R̸A̸M̸ THEIR FLIPS HAS BEEN GOING SMOOTHLY..
I was literally talking about this yesterday!!!
This was such an informative video, like WOW. Thanks for this!!!
Hey brother make a video on how to buy home with bank loan and clearing easily with home rent ❤
We are thinking of doing some thing like this. We own the home already but want to rent part of it out to have extra money to save and do a little traveling.
Thanks you Charlie for your advices I have invested $101000 on real estate, which I made from stocks in just 8 months, still waiting for my profit this week for me to add to it
The problem is who is qualified to get 475k loan when you pay 5% down-payment on 500k valued house hahaha 😆
The economic hardship , recession , unemployment and the loss of job caused by covid pandemic is enough to push people into financial ventures,..
😳😳😳😳😳😳
Nice video! This is a great way to build wealth while tapping into a passive income stream, rental income. You can get others to help pay for your mortgage, but you can "house hack" as a renter too… instead of renting a 1-bedroom, look into renting a 2-3 bedroom then estimate how much you could get from rent by sub-letting the other bedrooms (make sure you're allowed to) – you may find that you can have others help pay for your rent too! The main goal is to save more and build wealth quicker – "house hacking" helps with that in so many ways, both as a renter and especially as a home owner too
Great video!
Thanks for information but I have questions what happened with hertz stock??
Just did this for the last two years, I saved a ton of money! Great stuff Charlie, really important topic 👌
Wow that house (thumbnail) is amazing😮😍
Almost 1st
Here before bots
Just shitted