House Hacking: The Most Overlooked Way to Build Wealth
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Top Comments (10)
Assuming u find good tenants
I’ve used this process several times. I now own 5 house. I also have really good tenants 🙏
Most duplexes and fourplexes are in the lower income parts of town... thus you're dealing with more problem prone renters. what they pay in rent vs what you pay in up keep of the property, insurance, taxes, fees, random crap associated with murphy's law simply isn't worth the PITA of dealing with the whole mess. Raise the rent to get "better" renters results in an empty plex as no one with money and good character would bother living in a "questionable" part of town to begin with.
If my neighbor is not paying my mortgage after I finish watching this video then I will sue you 😂
My mom does this but it’s important to have good tenants otherwise you have to pay all kinds of things like windows breaking, plumbing etc.
thank you random guy on youtube
In NYC this is a gamble if those tenants don’t pay. You’re toast! It took me two years to get someone out. Make sure you can pay that mortgage without them. This also sounds like what Dave Ramsey did before the banks “called his notes” and lost everything. Too risky.
One big issue is that once you buy the 2nd 4-unit, it s no longer a primary residence. It is an Investment property and your rate is much higher. Just want to clarify that you can’t just get the same rate as that first 4-unit unless you refi THAT one to an Investment.
Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/ff1312 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Parasitical rentier economy
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Top Comments (10)
Assuming u find good tenants
I’ve used this process several times. I now own 5 house. I also have really good tenants 🙏
Most duplexes and fourplexes are in the lower income parts of town... thus you're dealing with more problem prone renters. what they pay in rent vs what you pay in up keep of the property, insurance, taxes, fees, random crap associated with murphy's law simply isn't worth the PITA of dealing with the whole mess. Raise the rent to get "better" renters results in an empty plex as no one with money and good character would bother living in a "questionable" part of town to begin with.
If my neighbor is not paying my mortgage after I finish watching this video then I will sue you 😂
My mom does this but it’s important to have good tenants otherwise you have to pay all kinds of things like windows breaking, plumbing etc.
thank you random guy on youtube
In NYC this is a gamble if those tenants don’t pay. You’re toast! It took me two years to get someone out. Make sure you can pay that mortgage without them. This also sounds like what Dave Ramsey did before the banks “called his notes” and lost everything. Too risky.
One big issue is that once you buy the 2nd 4-unit, it s no longer a primary residence. It is an Investment property and your rate is much higher. Just want to clarify that you can’t just get the same rate as that first 4-unit unless you refi THAT one to an Investment.
Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/ff1312 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Parasitical rentier economy