33 years old, 9-5 job owned a loft style condo with a cool spiral staircase – took me 2 years to find. My cash flow was -$1,500 a month not including what I had to pay for my car and misc. expenses.
At the time, I was over 30 years away from retirement – no passive income -no landlord experience – Didn’t even own a hammer.
Fast Forward 6 years >>My wife’s sister was renting out one side of a duplex and the owner suddenly passed, his wife was selling the place because she didn’t want to be a landlord. My wife asked me if I could buy it and rent it out to my sister, so she didn’t have to move. I said no.
It sparked curiosity – I started to look into real estate investing and the 1st book I picked up was How To Build a Rental Property Empire by Mark Ferguson. There was literally a two-paragraph section that talked about a concept called House Hacking.
I was convinced that I wanted to buy a 2-4 unit property, live in 1 unit and rent out the other units – very simple concept to build wealth. Suleyka supported me all the way, we packed up and moved in 2017.
What we learned:
We searched for a single family with the correct zoning broken up like a duplex. Chris found me a single-family house with a separate mother-in-law suite and separate entrance. Conventional loan so 5% down
In conclusion, building your house hack stack can be an excellent way to start your journey towards becoming a real estate millionaire. My experience has taught me that with persistence, research, and the right mindset, anyone can achieve financial independence through real estate investing.
Remember, it all starts with one property. Don’t let the fear of the unknown or the complexity of the process deter you from taking the first step. Educate yourself, start small, and grow your portfolio gradually.
As you gain more experience and resources, you can use the income from your existing properties to finance your next acquisitions. The key is to remain disciplined, stay focused on your goals, and always be open to new opportunities.
In the end, becoming a real estate millionaire through house hacking is not a matter of luck, but rather a result of hard work, patience, and strategic planning. So go ahead, build your house hack stack, and start your journey towards financial freedom today!
Links from the ShowNeed some accountability buddies? Join our monthly House Hacking meetups!
Help Us Out!We want to know what you want to hear! What struggles are you having in your real estate investing journey? What has you stumped? What will help you level up your investing game?
We want to know!
Please send an email to hello@curtisst.media to submit your answers!
Check out the podcast below!Portfolio Analysis Mastermind: Optimizing Richard and Ilona’s Rental Portfolio
ADU Q1 News: Updated Denver Approvals + Resident Pushback!
Portfolio Analysis Mastermind: Analyzing Ben Einspahr’s House Hack Portfolio
2022 Goal Setting with Chris
Living the HGTV Dream in an Englewood Duplex
House Hack Mastermind #9: Newbie House Hackers: Room by Room vs Airbnb
Commercial Listing: Historic Denver Apartment Building with Potential for Short-Term Rental
Commercial Listing: 24-Unit Apartment Building in the Heart of Fort Collins
Super Bowl Champion Ryan Harris’s Mindset: “More Is Not Always Better”
Can You Rent to Walgreens? Breaking down Single Tenant Net Leases
Denver Real Estate MLS Market Stats- December 2021
Using Denver Equity to Invest in a Pueblo Rental Property
Top 5 Electrical Issues Investors Should Know
Analyzing a Value Add Duplex in Athmar Park
Ask an Investor: Should I Tap into Roth IRA, Equity, or Savings to Buy My Next Rental?
Commercial Listing: Turnkey 41- Unit Apartment Building in Northwest Denver
ADU #4: What It Takes to Build an ADU with Phil Daughton
Denver Real Estate MLS Market Stats- November 2021
ADU #3: How the Hell Do I Finance My ADU?
ADU #2: ADU in Cory-Merrill, Does it Cash Flow?
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