101 House Hacking Tips
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00:00 Introduction
00:19 1. Purchase multifamily home.
00:43 2. Live in for a year before renting.
00:52 3. Buy in high-demand rental area.
01:03 4. Consider property management company.
01:20 5. Regularly review rental market rates.
01:33 6. Convert unused areas into rentable units.
01:46 7. Learn basic maintenance skills.
01:57 8. Network with real estate investors.
02:12 9. Rent rooms individually for higher income.
02:23 10. Use Airbnb for short-term rentals.
02:47 11. Improve purchased properties to increase value.
03:04 12. Consider rent-to-own for reliable tenants.
03:15 13. Save regularly for property maintenance.
03:21 14. Screen tenants thoroughly.
03:37 15. Create legal lease agreement.
03:43 16. Understand Rental Agreement vs Lease.
04:54 17. Maintain emergency fund.
05:09 18. Utilize landlord tax deductions.
05:16 19. Consider hiring real estate attorney.
05:25 20. Maintain property well to retain good tenants.
05:37 21. Regularly review homeowners' insurance policy.
05:49 22. Learn local landlord-tenant laws.
06:06 23. Consider properties near universities.
06:33 24. Use property management software.
06:53 25. Purchase improvement materials in bulk.
07:05 26. Maintain good tenant relationships.
07:09 27. Consider renter's insurance.
07:26 28. Separate rental income and personal finances.
07:44 29. Regular property inspections.
08:01 30. Utilize green and energy-efficient upgrades.
08:08 31. Consider rent increases per market rates.
08:30 32. Incentivize longer lease terms.
08:42 33. Allow pets for additional fee.
08:52 34. Invest in unique-feature properties.
08:57 35. Utilize low down payment loans like FHA.
09:15 36. Stay updated on real estate trends.
09:27 37. Consider properties with extra storage space.
09:34 38. Avoid over-improving rentals.
10:07 39. Use online platforms for tenant search.
10:22 40. Offer online rent payment options.
10:27 41. Encourage reporting of minor maintenance issues.
10:33 42. Conduct thorough move-out inspection.
10:40 43. Understand the Fair Housing Act.
11:01 44. Incentivize lease renewals.
11:05 45. Consider duplexes, triplexes, or fourplexes.
11:12 46. Install durable, long-lasting materials.
11:30 47. Keep detailed income and expense records.
11:39 48. Diversify rentals across neighborhoods.
11:54 49. Consider hiring a real estate CPA.
12:07 50. Use energy-efficient appliances.
12:11 51. Schedule regular pest control.
12:27 52. Look for low property tax properties.
12:35 53. Offer furnished units for higher rates.
12:51 54. Encourage tenants' minor repairs for rent deduction.
13:02 55. Implement no-smoking policy.
13:21 56. Maintain cash reserve for property expenses.
13:28 57. Offer referral bonus.
13:34 58. Implement eco-friendly features.
14:12 59. Use technology for virtual tours.
14:25 60. Provide safe, secure environment.
14:33 61. Update property's exterior
14:42 62. Purchase properties with extra land.
15:00 63. Consider properties near public transit.
15:05 64. Save by doing own appraisal or inspection.
15:10 65. Upgrade security to attract tenants.
15:36 66. Offer rent discounts for advanced payment.
15:45 67. Buy and refurbish distressed properties.
16:00 68. Utilize co-living strategy.
16:20 69. Use the BRRRR method.
16:31 70. Watch for property owner government programs.
16:38 71. Improve internet connection for young professionals.
16:49 72. Include utilities in rent for higher rates.
17:02 73. Prioritize properties with ample parking.
17:06 74. Consider property's capital appreciation potential.
17:20 75. Know local eviction process.
17:28 76. Reassess property investment strategy.
17:31 77. Join local real estate investor groups.
17:38 78. Invest in areas with good schools.
17:44 79. Diversify portfolio across property types.
17:55 80. Use professional photos/descriptions in ads.
18:12 81. Keep up-to-date with building codes.
18:31 82. Consider properties with in-law units/basements.
18:40 83. Offer rent discounts for longer leases.
18:45 84. Choose properties with low HOA fees.
18:56 85. Be transparent with tenant responsibilities.
18:59 86. Hire professional bookkeeper for multiple properties.
19:16 87. Obtain consent before entering tenant's space.
19:25 88. Set up automatic rent payment systems.
19:40 89. Simplify landscaping to reduce costs.
19:57 90. Back up digital property business records.
20:17 91. Invest in good security system.
20:22 92. Include clear pet policy in lease.
20:28 93. Use a HELOC for property improvements.
20:44 94. Be patient, wealth builds over time.
21:04 95. Keep list of reliable contractors.
21:19 96. Always have written lease, even with friends/family.
21:38 97. Be proactive in tenant lead generation.
21:46 98. Invest in properties near amenities.
21:56 99. Keep communication with tenants professional.
22:02 100. Respect tenants' rights.
22:25 101. Continually educate yourself on real estate trends.
22:46 Conclusion.