Minority Mindset
Ever want to buy a house, but not have the mortgage?There is a way to do this - legally.Yes, you could pay all cash, that is one option.Another option is called house hacking, and it’s one of the easiest ways to start building wealth — even if you’re just starting out.Here’s the idea: Most people think “home” means a single-family house.But the primary residence rule says you can use a normal home loan (lower rates, smaller down payment) to buy a duplex, triplex, or 4-plex.You live in one unit, and rent out the others.Let’s break down an example:- Buy a 4-unit building for $1M- Put down $200K, monthly mortgage is $5K- Live in 1 unit, rent the other 3 for $1,500 each = $4,500/monthNow your cost to live there? Just $500/month — AND you’re building ownership in the building.Here’s the really fun part: Most loans say you have to live there for 1 year + 1 day.After that, you can move out, rent all the units, and do it again with a new property.Each year, you could add another building to your list — and your tenants help pay for them.You don’t need to start with something huge.Even a small house can become a rental after a year.The start is the slowest part.Is this a strategy you think you would try?Let me know in the comments BELOW!Also, stay up to date with what is happening with asset classes like real estate by subscribing to Market Briefs for FREE! Enjoy!briefs.co/market/?utm_campaign=jaspreetYoutube&utm…
1 week ago (edited) | [YT] | 295
Minority Mindset
Ever want to buy a house, but not have the mortgage?
There is a way to do this - legally.
Yes, you could pay all cash, that is one option.
Another option is called house hacking, and it’s one of the easiest ways to start building wealth — even if you’re just starting out.
Here’s the idea: Most people think “home” means a single-family house.
But the primary residence rule says you can use a normal home loan (lower rates, smaller down payment) to buy a duplex, triplex, or 4-plex.
You live in one unit, and rent out the others.
Let’s break down an example:
- Buy a 4-unit building for $1M
- Put down $200K, monthly mortgage is $5K
- Live in 1 unit, rent the other 3 for $1,500 each = $4,500/month
Now your cost to live there? Just $500/month — AND you’re building ownership in the building.
Here’s the really fun part: Most loans say you have to live there for 1 year + 1 day.
After that, you can move out, rent all the units, and do it again with a new property.
Each year, you could add another building to your list — and your tenants help pay for them.
You don’t need to start with something huge.
Even a small house can become a rental after a year.
The start is the slowest part.
Is this a strategy you think you would try?
Let me know in the comments BELOW!
Also, stay up to date with what is happening with asset classes like real estate by subscribing to Market Briefs for FREE!
Enjoy!
briefs.co/market/?utm_campaign=jaspreetYoutube&utm…
1 week ago (edited) | [YT] | 295