Nick Perry outlines house hacking: buy a small multifamily property, live in one unit, rent the others to cover your mortgage. With a 3.5% down payment, you could own three properties and nine rental units by age 25, generating passive income.
If I was just starting over in real estate, here's how I would become financially free in 3 to 6 years. It's called house hacking, and only real estate moguls know this trick. This is where you buy a small multifamily property as your primary residence. You live in one unit and you rent the other ones out to cover the mortgage. Because you're living in it, you can get away with putting only 3.5% down. On a $200K home, that's $7,000. So do this at 18, then again at 20, then again at 22, and by 25, you'll own 3 homes and have more than 9 doors bringing you income while you sleep. If you want help doing this, comment "hack" and I'll reach out.
