House Hack Jack

House hacking and renovations. Such a powerful way to improve your house hacks not just from the value end of it, but also from the rentability standpoint. Today we'll talk about forced appreciation on your house hacks, how to analyze the best and highest use, and how these strategies could catapult your wealth, and accelerate your returns. Just like home flippers, you can increase the value of your house hack properties by making improvements, and remodeling. The difference - you're not selling it. We house hack it. First off, what is forced appreciation Forced appreciation is just a fancy way - of saying remodel or rehab. It's forcibly, or proactively, increasing the value of a property through renovations and improvements. The underlying goal is to elevate the property's worth. But not just increasing the property value, but at the same time bringing it to its "best and highest use" in both the resale market, and also the rental market.  Best and highest us...

With the average housing costs in the U.S. on the rise - house hacking gives a pretty attractive opportunity - to offset living expenses - and potentially even profit from it from cash flow However - like any investment, house hacking comes with its own set of risks and rewards.  Today we'll talk about the risk of waiting to purchase a home,  the low-risk to house hacking, and how it allows investors to grow their rental portfolio - at a much higher rate. So to start this off - we have housing costs. Housing costs in the U.S. have soared in recent years - and have risen throughout history. This ultimately makes homeownership - simply just seem unattainable to the average person looking to buy. With that, a stat I came across recently - states the average monthly housing cost in the US - has reached $1,900 per month. This is a 6% increase from the previous year - where the average housing costs were just under $1800 per month You can't control your rent, but you CAN control - w...

Today we will talk about - how to start house hacking - with only $5,000 to put down on a down payment. And the most cost-efficient way to house hack - with only $5,000 - begins with financing and using an FHA Loan Now - I'm not a licensed mortgage lender - so what I'm about to tell you about the FHA Loan - is not lending advice. Just speaking from experience and example purposes here - these loans and their terms are subject to change at any time. So - FHA loans are government-backed mortgages - that allow buyers to purchase homes with a down payment - as low as 3.5% This means that with just $5,000 - you can get your hands on a property worth up to $143,000 - with our $5,000 we have for a down payment ($5,000 divided by 3.5%). You might be thinking - that it's impossible to find a property at that price - in this market we're in. Well, at the time of recording this video - according to the Des Moines Area Association of Realtors MLS - there are currently 135 propertie...

One question I always get from buyer looking to house hack - is which type of property should I purchase?  Today we'll walk through the differences between - single-family homes, townhomes, condos - and then get into duplexes, triplexes, and fourplexes So, Single-Family, Townhomes, and Condos: Single-family homes provide space, privacy, - and the feeling of owning a traditional house. House hacking a single-family home often means - you'll be renting out extra bedrooms to tenants - unless you have an ADU (accessorry dwelling unit) - or separate building on your property, that you decide to rent out So keep in mind - that cash flow potential might be limited until you move out - and rent the entire property. Townhomes are sort of a middle ground, between a single-family home and a condo. They typically share walls with neighboring units - but come with more privacy than a condo would, with someone on top - below, and next to you on both sides. I like townhomes  - this is what I...

Today we will talk about buying your house hacks - when interest rates are high, and the economics of how high rates effect your house hack properties - when buying and renting So when interest rates soar - there tends to be a decrease in the number of home buyers - entering the real estate market.  With higher mortgage rates - affordability becomes an issue for the average buyer. As a result - there becomes a shift in economics of the housing market.  The pool of potential buyers shrinks - but the need for housing doesn't just go away. Everyone needs a place to live - so those people who would've otherwise been buying, are forced to result to renting. So with that, we go back to ECON 101 - supply and demand  When fewer people can afford to buy due to high interest rates - the demand for rental properties go up. The increased demand with limited or equal supply - creates a competitive rental market environment. Landlords and house hackers - are often on the better end of ...