“He suggested living in one unit, renting the rest, using FHA, then refinancing to conventional to fund the next house hack.”

BiggerPockets Real Estate Podcast · From a $55K Rental to BiggerPockets CEO and Financial Freedom

Play from 10:13
10:13

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What was described

Advised Eric to house-hack: live in one unit of a multi-unit property, rent the others, use an FHA loan, then refinance to a conventional loan to repeat the process

Said nearby on the same subject

“I would stick to a conventional loan… FHA loans… have a lot of restrictions and red tape, and it sounds great on paper until you get into it.”
♫
Said on The Ramsey Show
Contrarian take Share this moment
“We use $200,000 to pay down the home loan… then we take out a $200,000 loan and use that to invest… that $200,000 loan becomes tax deductible”
AG
Aidan Gullman
Financial Autonomy ·
Why it worked $200,000 Share this moment
“If there's 200-300 basis points made on one loan, 3% and the loan officer is obligated to get 2%, I give the loan officer 2%. I take the other 1% and put that into a NEXA ledger that they can use to grow their team.”
♫
Said on Dropping Bombs
Pricing 200-300 basis points total; 2% to officer, 1% to ledger Share this moment
“Who better to retain a loan than a loan officer who did the loan? ... we pay you this amount of money to do that... they get the data because the data tells us they're looking at other homes.”
♫
Said on Dropping Bombs
How they work Share this moment

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