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How House Hacking Can Change Your Financial Future | Episode 08
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Ever wondered how you can turn your home into a money-making machine? Discover the secrets of house hacking with seasoned real estate investor Lisa Field Moore. Lisa started her journey in 2017, moving from Massachusetts to Salt Lake City, and shares how she subsidized her mortgage by renting out parts of her first property. You’ll learn the essentials of house hacking, from creative income ideas like renting basements and leveraging platforms like Peerspace, to building equity and capital for future investments.
Explore various house hacking strategies that even beginners can implement. From obtaining mortgage approval to leveraging new laws for purchasing multi-unit properties with minimal down payments, we break down the initial steps. Joseph also shares his personal experience from 2017, demonstrating that anyone can start with modest beginnings. You'll find out how renting out garage spaces, offering swimming lessons, and using Airbnb can significantly boost your passive income, even while accommodating family visits.
Unlock the fundamentals of house hacking and learn how to maximize wealth through this innovative strategy. We delve into the nitty-gritty of advertising rental spaces and managing tenants effectively, emphasizing the importance of tenant screening and choosing between long-term and short-term rentals. Lisa shares her ambitious real estate goals for 2024, along with creative financing tips and house hacking strategies to help you get started. Whether you’re just beginning your real estate journey or looking to expand your portfolio, this episode is packed with actionable insights to help you succeed.
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Chapters
1. How House Hacking Can Change Your Financial Future | Episode 08 (00:00:00)
2. House Hacking (00:00:12)
3. House Hacking Strategies and Experience (00:06:10)
4. Maximizing Wealth Through House Hacking (00:09:28)
5. House Hacking Fundamentals and Benefits (00:19:00)
6. Getting Started With House Hacking (00:31:32)
7. Rental Space Advertising and Tenant Management (00:38:58)
8. Real Estate Goals and Strategies (00:53:04)
8 episodes
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