55. How to Pay $20 for Rent with Brandon Chidester

House Hacking Success

In this episode, you will learn how to pay $20 for rent, some tips about house hacking, and the proper mindset on how to start saving to get started in real estate. Our guest Brandon Chidester brought a wonderful story of how he saved money, funded his house hack, and started living life contentedly.

If you save half of your earnings on the day you get your hands on them, then use the other half to pay the bills, you could use the remaining money to live until your next paycheck. In this way, you have a guaranteed saving that would become a huge asset when you decide to start investing.

Furthermore, he shared several ideas on how to screen your tenants and how you could take advantage of the available resources around you. When in college, you could try to talk with your roommates to rent with you. You can even invite friends to join to get lower rent.

Also, he talks about increasing your sources of income and envisioning your future success to maintain a healthy mentality. With all this, a better future awaits you.

Show sponsors:

• Rentometer - Rentometer lets you analyze rent on your property!
• RentRedi - Manage your property with this property management software. Use code "SUCCESS" to get 50% off!!

Instagram: @chidthekid
LinkedIn: brandonchidester
Instagram: @househackingsuccess
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House hacking is one the best ways to get started in real estate. So many investors have used house hacking to buy their first rental property with a low down payment, then even live rent free. You can live rent free because the with house hacking you utilize an "owner occupied" loan to buy a property. Owner occupied means you agree to move into it. If you occupy the property you get a lot of loan options that vary from 0-5% down. You can even buy a 4-unit multi-family property depending on the loan! After you move in you rent out the extra space to cover the mortgage, which allows you to live rent free. You only have to do that for a year! After a year you can move out and turn your property into a full time cash flowing rental property! What makes house hacking so powerful is a combination of the low down payment and living for free. You can literally change your life buy purchasing one house hack and cutting out your rent or mortgage. Imagine if you reinvested those savings to buy another property. House hacking is the best way to go from just getting by to becoming a rock star real estate investor.