66. Nigerian Immigrant House Hacking to Prepare for Retirement with Odafe Jeroh

House Hacking Success

Inflation is a silent thief that will destroy your retirement. The moment you think you have enough money and inflation strikes, you'll be back for some sidelines or work to supplement your retirement money.
The best counter to inflation is real estate. And the best way to enter real estate with low risk is through house hacking.
But why are there a lot of people who want to house hack but aren't taking action? It might be because they're not motivated enough.
Motivation can play a huge role in your life. It can decide when will you take action and when will you start enjoying your life.
America is flooded with milk and honey and is the land of opportunities. You can literally buy a property with 0% down, 3.5% down, and many more.
If you are a low-to-moderate income person and think you don't have enough money for a downpayment, try the NACA Loan.
The only one stopping you from reaching your dreams is you not taking action.
Podcast Episode 66
Show sponsors:

• Rentometer - Rentometer lets you analyze rent on your property!
• RentRedi - Manage your property with this property management software. Use code "SUCCESS" to get 50% off!!

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House hacking is one the best ways to get started in real estate. So many investors have used house hacking to buy their first rental property with a low down payment, then even live rent free. You can live rent free because the with house hacking you utilize an "owner occupied" loan to buy a property. Owner occupied means you agree to move into it. If you occupy the property you get a lot of loan options that vary from 0-5% down. You can even buy a 4-unit multi-family property depending on the loan! After you move in you rent out the extra space to cover the mortgage, which allows you to live rent free. You only have to do that for a year! After a year you can move out and turn your property into a full time cash flowing rental property! What makes house hacking so powerful is a combination of the low down payment and living for free. You can literally change your life buy purchasing one house hack and cutting out your rent or mortgage. Imagine if you reinvested those savings to buy another property. House hacking is the best way to go from just getting by to becoming a rock star real estate investor.