How Much Do You Need to Invest to Replace Your Income with Rentals?
Summary
This article discusses how to achieve financial freedom through real estate investing, with a focus on house hacking and buying cash-flowing properties. It highlights the potential for achieving financial independence in 5-10 years, particularly in affordable markets. Hosts should consider aggressive investment strategies, like house hacking, to reach their financial goals faster.
Key Insights
- •An investor with a $3,000/month investment capacity and a frugal lifestyle, living in an affordable market could potentially achieve financial freedom in 5-10 years through real estate investing.
- •The article suggests that in affordable markets, hosts can reduce living expenses to near zero by house hacking, thus increasing their investment capacity.
Action Items
- ✓Hosts should consider house hacking (living in one unit of a multi-unit property and renting out the others) as a strategy to reduce living expenses and accelerate wealth-building.Effort: mediumImpact: high
- ✓Hosts should focus on cash-flowing deals, especially if they are frugal and live in affordable markets.Effort: lowImpact: medium
Tools & Resources
- →Financial Independence Calculator: The article mentions a financial independence calculator on biggerpockets.com.
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