House Hacking

If you want to become a bestselling writer, you should read the works of authors who have earned that distinction. If you want to become an accomplished guitar player, you should listen to those you wish to emulate. And if you want to become a successful real estate investor, you should follow the lead of those who have done just that. One such investor is Sunny Burns, who began his lucrative career in real estate with a wise investment in a fourplex property using a strategy called “house hacking.” This approach involves buying a property, living in one of the units, and renting out the rest to others. “I definitely recommend the house hack,” Sunny told me. “If you buy a single-family house, depending on how much you make, half your income could be going straight into that house (mortgage, taxes, repair costs).” Conversely, if you buy a duplex or a property with three or four units, you can reap the benefits that come from a sound house hacking investment—like cash flow and appreciation—while paying little to no cost for your primary residence. By following this plan of action, Sunny says he is able to live for free and make money through his tenants. By perusing the blog posts below, you can learn more about the real estate strategy of house hacking. Additionally, if you would like to listen to an in-depth conversation between Sunny and myself, you can do so by clicking here.
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Joe Fairless