House Hack: Want to live for free by house hacking multifamily in any city of your choice? Well this is the video for you. In this video I'll be giving examples of house hacking with multifamily real estate investing and showing you how it's possibly to live for free, get paid to live in a city of your choice, or pay less than what everyone else is paying to live in their favorite city.

In the first example I gave a basic example of a fourplex multifamily property which you would live in one unit and rent the other three units out to tenants to help cover your mortgage cost. This is a good house hacking for beginners option. In this example, you'll see how you could make a profit house hacking real estate in 2022 or whenever you want to get start. I also explain how house hacking could actually help you qualify for a larger loan amount. So in this 4plex example I used a $400,000 purchase price at 20% down which would leave you with a fixed rate mortgage of $320,000 for 30 years. Your mortgage amount would be $1528/mo, property taxes would be $320/mo, Insurance would be $156/mo and repairs would be $200 which would create a total expense of $2204/mo. If the other three units were occupied and you charge $1,000 for each available unit you would collect $3,000/mo in rent so if you subtract the monthly expenses from your rent you'll realize that you would have a monthly profit of $796/mo which would be a great cash flow amount.

In the next example the only thing that change was the purchase price which increase to $800,000. Some great house hacking tips would be to make sure that you analyze the deal before purchasing, and if you can use an house hacking FHA loan method of purchasing that would be great also because it would lower your downpayment which you will see in the next example. But house hacking for beginners and as an beginner is possibly with some solid understanding and patients. in this example you still would put down 20% which would be $160,000. Which would create a loan of $640,000 and a mortgage amount of 3,055/mo, property taxes would be $700/mo Insurance would be $150/mo and repairs would be $200/mo which would total $4105/mo in expenses. Your rental income from this fourplex would be $1200 for each unit which would total $3600 so you would have an out of pocket difference of 505/mo which is lower than what mostly everyone else is paying. In this example at the end of the year you would end up making $200/mo in profits because your tenants would be adding 725/mo in equity every month which would offset your cost at the beginning of the year and create positive cash flow.

In the last example you'll be able to house hack using a FHA LOAN which only requires you to put down 3.5% but everything else would remain the same as the other to examples. I really hope yo enjoy this video and please don't forget to like, subscribe and hit the notification bell because I'll be posting on this channel every Monday, Wednesday, and Friday.

This great video idea came from Graham Stephan and I created my own version of it.

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