House Hacking with 5% Down!
Are you ready to buy your first home and become a home investor? It's possible! And changes from Fannie Mae have made it even easier, with down payment requirements for 2-4 unit owner-occupied homes being cut from 15% to just 5%!
Whether you're a first-time buyer or a seasoned investor, house hacking is a great strategy for savvy individuals looking to unlock financial freedom.
What Is It?
House Hacking is a real estate investment strategy where you live in one of the units of a multi-unit property while renting out the others. This smart approach allows you to cover (or even exceed) your living expenses and build long-term wealth through real estate.
Why Should You Consider It?
- Affordable Living: Say goodbye to high rent or mortgage payments. House hacking can significantly reduce or eliminate your housing costs.
- Income Generation: Generate passive income by renting out one or more units in your property. This income can help you pay off your mortgage faster or invest in other opportunities.
- Real Estate Wealth: You can build equity and wealth as your property appreciates over time. It can be a smart and secure way to invest in real estate.
- Experience as a Landlord: House hacking is a great way to dip your toes into real estate investing and gain valuable experience as a landlord. Especially if you already got some DIY skills.
- Network Growth: House hacking often introduces you to a community of real estate investors, landlords, and mentors, which can be invaluable for your future endeavors.
House hacking can be the bridge between your dream of homeownership and your financial goals. Don't wait - start your house hacking adventure today!
Source: https://singlefamily.fanniemae.com/media/36841/display
