How to go from your first house hack to your dream home

Diego’s dream came true!

This week, he bought his dream beachfront condo in Puerto Rico!

It took 8 years of investing in single-family residential and commercial real estate to make his dream a reality.

The best part?

He didn’t have to pay out of pocket for it. His dream came true because of his first house hack.

Let’s walk through the numbers:

At 23, Diego had a solid W2 with GM.

He excelled in his role and could’ve risen through the ranks. But deep down, he knew the corporate path wasn’t for him. However, he used his W2 to help qualify for a home because the W2 made him more bankable.

When Diego discovered house hacking, he bought his first house hack that same year.

Here are the details:

• $170,000 purchase price

• 5% home-owner occupied conventional loan

• Downpayment was less than $10,000

Fast forward 8 years later…

He now has over $250,000 in equity because of appreciation and time.

Diego used a HELOC (home equity line of credit) to access the equity and redeploy it into another investment.

Except this time it wasn’t a typical investment to make his money work for him. It was an investment in his dream of owning a condo in Puerto Rico.

He’ll pay back the HELOC at a 6% interest rate but he didn’t have to come out of pocket to fund the downpayment.

This is a perfect example of using the power of real estate and the power of time in your favor.

3 takeaways from Diego’s journey to his dream property:

1. He took action after learning about house hacking

2. A simple house hack turned into his dream home

3. He let the power of time work for him

Everyone should use their home-owner-occupied loan because you can buy a property for such low money down.

Find the asset. Stabilize the asset. Then let time work for you.

Before you know it, you too will own your dream home.

Whenever you are ready, here are 3 ways we can help you:

• Get your 1st rental property with our Rookie Mastermind

• If you have multiple properties and want to scale, join hundreds of other FI Investors in our Elite Mastermind

• 6 Keys to reaching financial independence free ebook