There are a myriad of ways to get involved in real estate investing. Different strategies, purposes, resources, and end goals have a lot to do with how someone invests in real estate.
One of the most important factors for a beginner investor is the resources they have at their disposal. Obviously, the more resources (capital, opportunity, partners, professionals, knowledge, information, credential etc.) one has the better their chances of success, however, that does not mean that limited resources can’t be used intelligently to reach an end goal.
One form of real estate investing that is particularly beneficial to those of us with limited resources is called “House Hacking.” House hacking is when an investor uses one unit, floor or room of a multi-family property as their own main residence and rents out the rest of the property to cover the mortgage and other expenses. This not only allows the investor to gain equity by using rent money to pay off the mortgage, this also in many cases leads to extra cash left over after all the expenses are paid off, which can then be used for future investments.
It may be difficult to fathom how this would work, if you are not even entirely sure what a multi-family property really is, and how expensive or big it can be. The fact of the matter is that a small building with 4 conjoined studio units and a large apartment building with 20 one-bedroom apartments are both multi-family properties. Knowing what you as an investor can afford, and what is eligible for a house hacking project is a perfect project for a real estate investing professional to help you figure out (www.aminvali.com).
The beauty of house hacking is, depending on the size of the property, that since it is your primary residence you can be eligible for a residential loan instead of a commercial one, which, for some individuals, may be the better and more attainable option.
Many thriving real estate investment companies began because someone bought a house and rented out the extra bedrooms. Real estate investment companies like Amin Vali Real Estate Investment know and understand the ins and out of rental properties and how an investor can use it to their advantage. Do you live with roommates? Are you wondering why you haven’t done something like this already?
Civil Engineer, MBA, Real Estate Agent
Cell phone: +1 (949)220-1000
Phone : +1(310)300-0011
Web : http://www.aminvali.com
E-mail : firstname.lastname@example.org
Realtor in Zutila Inc.