This strategy CHANGED OUR LIVES ✨

“House hacking” has helped us eliminate our housing expense while building wealth. This is where you buy a property & generate income on it while living there- to help cover your mortgage payment. This can be done so many ways- buying a multifamily property like a duplex to live in one unit & rent out the other, buying a home w/ a mother in law apartment, or by renting out rooms in your home.

We bought our first home in 2019. It was a 2-unit property and we lived in one unit and rented out the other. We took it a step further and rented out a spare bedroom & bathroom in our own unit! This way, the rental income completely covered our mortgage and utility payments.

We repeated this strategy and bought a duplex in 2020, keeping our first property and moving into the new one. We were able to buy again so soon because of the money we saved by not having to pay the mortgage on our first home.

We then moved to Florida and are using this strategy here as well! Our home has a guest house that we rent on Airbnb, covering 90% of our mortgage payment.

This strategy is life-changing. We’ve been able to get into investing at a young age and buy at least one property per year. And the benefits of owning real estate keep stacking- we just sold one of our previous house hacks and used that equity to buy more cash-flowing investments in Tampa.

The amazing thing is that this strategy still works today: even with high interest rates. In fact it’s even more essential to house hack today- it gives you the ability to get into real estate as a beginner when you ordinarily wouldn’t be able to. We’ve helped many people buy house hacks in Tampa Bay, and the numbers can still work great if you get creative with mid-term or short-term rentals.

House hacking requires some sacrifice of course- you’re giving up a bit of your space in exchange for savings & wealth building, a fair trade if you ask me ☺️ But there are so many options with this strategy and it can work for you no matter what stage in life you’re at.

If you’re looking to house hack in the Tampa Bay Area, contact us and let’s chat ✌️

#househacking #tamparealestate #realestateinvesting

Видео This strategy CHANGED OUR LIVES ✨ канала Josh & Shae Green