@@salvationbygracethroughfaith I'm on the East Coast. Yeah you definitely have to be more creative when you're in a high-cost area. But there is certainly a lot of ways to do it
@wandaj8099
5 жыл бұрын
Thank u so much, I have thought about renthacking but ppl tell me it's so risky and the actual owner would not allow it. I would do it but dont want to get in legal problems w landlord....Any opinion?
@radioheadphonez
3 жыл бұрын
Constructive criticism: you face is waaaaaaaaaaay to close to the camera I had to throw my jacket on your face on the screen it is way to intense it actually hurts to watch this...
@BigBossGlobal
3 жыл бұрын
Where is your location in canada?!
@Aria-Invictus
3 жыл бұрын
This isn't a question. But just a reply to a comment you made in your video. For most people, housing is not 33% of their income. That is fantasy. Even if you believe it should be. The reality is it isn't. Most people live pay check to pay check. Especially with COVID pandemic. Also if you are just getting others just to pay your bills for you. Isn't that exploitation?
@secretamericayoutubechanne2961
2 жыл бұрын
If a 30k plumbing problem arises yer screwed. Plus bad neighborhoods are dangerous. But yer right my friend did this in KC with the help of his parents. Create your own wealth and privilegeq!
@liftforlife7937
5 жыл бұрын
They don’t teach this at school!
@ivarlosna6516
5 жыл бұрын
A "single family" home is perfect for house hacking. You split it into "apartments".
@GabeBult
5 жыл бұрын
Absolutely depending on where you are that can work
@elaxel1469
5 жыл бұрын
rent rooms to strangers while living in the same house> lottery of getting robbed and beheaded
@GabeBult
5 жыл бұрын
lol its not for everyone its probably for the younger crowd who can rent out to there friends or things like that
@mikkihintikka7273
2 жыл бұрын
meeting new people is more pain in the ass than benefit.
@MicahRion
5 жыл бұрын
Thanks so much for making these videos, Gabe! Your advice is really helpful! Excited to do this someday when I’ve figured out where I want to settle down for a few years.
@GabeBult
5 жыл бұрын
Glad you enjoy! with this you only need to stay for a year then your free to leave!
@PaulAndHarris
5 жыл бұрын
This assumes your other units have 100% occupancy, and that maintenance/repairs are zero (or almost zero). A tenant moving out for a few months or the heater going out will strain most people, and possibly cause serious trouble.
@GabeBult
5 жыл бұрын
you would have to account for cap x when running your numbers but that is true things do happen but if you saving all this money each month you should have a cash reserve on hand. i like to have around 10k on standby just incase something goes wrong
@PaulAndHarris
5 жыл бұрын
@@GabeBult -- Good point. Save for rainy days. Thanks for the response!
@overratedprogrammer
2 жыл бұрын
Like when the government allows tenants to not pay rent for months
@logansmith7181
2 жыл бұрын
Seems like taking advantage of folks who have no option to live other than rent.
@JustMe-999a
4 жыл бұрын
You can only eliminate your expenses to zero, but there's no limit to how much you can increase your income. I didn't become really wealthy until I put my energy on my income. There's a limit to how much you can accomplish by being a cheap bastard.
@TheJust22az
5 жыл бұрын
With the new tax laws, I am not sure the deductions will be of much help. You can still take them but the standard deduction has been increased offsetting much of the previous advantages to taking housing related deductions. I am now focusing on paying off the mortgage which I am close to doing.
@GabeBult
5 жыл бұрын
Thats true. it wont be a huge thing i think the biggest thing for me is that i never have to pay for my housing after the first investment. Thats great! paying that off is also a great way
@thetoxicad9143
5 жыл бұрын
That's a great strategy, I will look into implementing one of these hacks. :)
@GabeBult
5 жыл бұрын
Awesome! Let me know how it goes
@vilmachristine
5 жыл бұрын
I want a house! I love these house hacking ideas
@GabeBult
5 жыл бұрын
They work! You can get there 🔥
@russwes7778
5 жыл бұрын
$6500 is such a small amount for a down payment. in Toronto you need at least 60k for a 300 sq foot condo that costs 300k
@GabeBult
5 жыл бұрын
it was 3% down on a 200k property. i would definitely do it a differ-ant way in a bigger city or even rent hack instead
@russwes7778
5 жыл бұрын
@@GabeBult i live with 2 roommates right now renting till i can buy something
@secretamericayoutubechanne2961
2 жыл бұрын
You can do it in Kansas City for about 10k
@blahdelablah
4 жыл бұрын
So basically "house hacking" is just rebranding standard property investment strategies, got it.
@alisonnorcross951
5 жыл бұрын
I think in uk you are limited to two lodgers or you get £7200per year tax free. If you have more than 1houde the next you pay extra 3& stamp duty to buy and you need a buy to let mortgage.
@joes0406
2 жыл бұрын
Our home is going up for sheriff sale soon because we could afford the mortgage...how are we supposed to do all this with NO MONEY at all?
@cryptoboom7761
5 жыл бұрын
Nice channel man. You do a great job with your video style. Keep it up. I bought my first home at age 25, renovated it and planning to flip it. However prices in europe are crazy. Specialy the taxes on a house. Will look into multiple units properties. Thx for your content
@GabeBult
5 жыл бұрын
Thanks crypto glad you enjoyed it! And congrats on getting that first home and renovating it good luck on the flip
@jlbutters2
2 жыл бұрын
Wish I knew this when I was in my early 20's.
@ultra100able
Жыл бұрын
people do not always pay rent , hard to evict , and taxes go up ,
@LadyBeeSting2434
5 жыл бұрын
Thanks for all the info! I loved all the different scenarios. Thanks someone, somewhere can find where they fit in real estate and get to financial fitness faster:)
@GabeBult
5 жыл бұрын
Glad you enjoyed it Melissa! That's the goal
@snowman7234
5 жыл бұрын
Would be great to see a video with numbers, line by line :)
@ZacharyLaid
5 жыл бұрын
Great video Gabriel, house hacking is awesome, and you showed a variety of methods people can use, keep up the videos 👍
@GabeBult
5 жыл бұрын
yes it is! Thank you!
@mariilabelle4691
3 жыл бұрын
Hey great video, but who help you with the finding the renters or selling the home ? How do you get these loans and how much you have to pay monthly ? Can I house hacking in NYC ?
@dpowell964
5 жыл бұрын
Love the energy!!! Air BNB is great , I have though of doing that with one of my properties . Loving the kitchen love the color of the cabinets .
@GabeBult
5 жыл бұрын
Awesome! It's worked out great for Nate money-wise but it definitely does take a little bit more work than something long-term. Thanks! Credit my wife sh3 picks the colors because I have no clue lol How many properties do you have?
@yearginclarke
3 жыл бұрын
Good ideas. I think for most people these ideas would work. The only problem I have is if one is willing to live with shared walls and the potential privacy issues that may result from that mode of living. The only possible way I would consider this is if I did work to make the walls very thick/soundproofed to where you can't hear through them, and there would have to be good neighbors. No exceptions. Also, musicians like drummers etc. may or may not be suitable to apartment type buildings, depending on the situation. I only mention this because I am a hobby musician and there are lots of us out there. I can barely turn my guitar amp up enough to really hear it in my duplex without it being *WAY* too loud for the neighbor, same with watching TV. So I just temporarily gave up playing guitar altogether, there's no point if I can't play loud enough to actually enjoy it. I'm currently going to be moving out of this place (I'm a renter, not owner) due to having these thin walls and a neighbor that is really ticking me off. Granted, I know that all this that doesn't apply to everyone. But figured it might be something to consider when looking at potential tenants, or even as a renter.
@fruitjuice5672
3 жыл бұрын
Heath Ledger's distant cousin
@voornaamachternaam3713
4 ай бұрын
I've gotten my rent down to €75 per month (3 story home), excluding gas/water/electricity and internet, which is another €115. Next goal is getting my groceries down which are currently averaging at around €250 per month. Since my expenses are relatively low, should i focus on earning more next? And what are some things that really won't work so i won't try them out. I am currently working 32 hours a week btw.
@unknown-np5fm
5 жыл бұрын
Awesome vid Gabe, keep em comin.
@GabeBult
5 жыл бұрын
Thanks!
@SaltScum_
5 жыл бұрын
Hey, what Camera do you use? It looks fantastic! BTW Great video!
@GabeBult
5 жыл бұрын
i use that canon G7x mark 2 amzn.to/2SLv3TL Thanks !
@wandaj8099
5 жыл бұрын
Found your wonderful videos but really need some guidance bc I'm 55, do not have good credit and no money saved up....is there any help for me at my age? I want to house hack but how can I w no $ or able to get any loan????
@GabeBult
5 жыл бұрын
Well it really depends on your situation in life. You could try renthacking so that you could save up for a house hack. Pretty much renting out a three or four-bedroom place living in one bedroom then renting out the other ones to cover your housing expenses.
@tamarap387
5 жыл бұрын
What is your opinion on something like....Living in my own home with land available...and doing something like 'TentR'? Worth it if my house is already paid off? Thx! Love your super sensibilities! Amazing how we don't all think like this!
@GabeBult
5 жыл бұрын
i have no experience with that but sounds like a great idea if your house is payed off and you have the land for it
@RIP_Texpert
3 жыл бұрын
My uncle joker invented house hacking, what he did was he got 4 roommates and he would take out mortgages and have the roommates pay off the mortgage payments
@Coast_to_Coast
11 ай бұрын
When is the next purchase!
@chandrakantmahapatra1317
4 жыл бұрын
Hey! Lovely content. Quick question. I'm moving to Toronto next year where house hacking is impossible since I wont be able to afford down payment. Is it possible to rent hack there instead? I'm not sure if rent hacking is an actual thing in Toronto since it's a major risk for the landlord.
@GabeBult
4 жыл бұрын
Rent hacking is definitely a thing I'm from the US so I'm not too familiar with that you might want to check out Matt McKeever he has some great stuff for Canada real estate
@chandrakantmahapatra1317
4 жыл бұрын
@@GabeBult Yeah, Matt says it's a thing in London, Ontario. But to be honest, why would any landlord want his tenant to profit out of his property? He'd be at the losing end of the bargain, no??What's in it for the landlord?
@GabeBult
4 жыл бұрын
He gets a tenant that pays every month and doesn't have to worry about it alot of ppl will be good with it
@nUmBskulLL
2 жыл бұрын
"best thing you will ever do" "I can't over sell this" You sir are a liar and a fiend
@BigDaddyLongStockings
2 жыл бұрын
how to live "for free" step 1 buy a $200,000 house... sir I cant afford my $1200 rent
@aslmad1
2 жыл бұрын
He’s saying that 1,200 rent could be a 1,200 mortgage payment though. He skipped the part about purchasing the property though
@livzz1419
5 жыл бұрын
great video!
@GabeBult
5 жыл бұрын
Thanks! 🔥
@theseventhson9666
2 жыл бұрын
please get straight to the point man
@ranitinger8685
2 жыл бұрын
IT IS BEAUTIFUL , BUT IS GEST A DREAM , GOOD LUCK !!!
@dpowell964
5 жыл бұрын
1 so far but working on a second one
@GabeBult
5 жыл бұрын
Awesome!
@ryanferrier6187
5 жыл бұрын
Hey Gabe, awesome channel! What would your advice be for me...my wife and I are looking to start a family and she is really focused on baby rooms and not so much on house hacking. We’re currently selling our house and will have about $60k to put on our next property, and I want it to pay-off! Thanks in advanced!!
@GabeBult
5 жыл бұрын
Hey Ryan, Thank you! That really depends on your market and your end goals. For me when i start to have kids in a few years i would like to have a nice duplex (more room less stress then triplex) where it will be big enough to stay for a few years for free that way you don't have the stress of having a mortgage payment and as long as you screen your tenant well it shouldn't take that much work. if you find the right place you could even rehab it to fit your needs and make sure it would cash-flow if you want to move on to a house. Then save up for another rental or whatever you want but this only works if your in the right market
@ryanferrier6187
5 жыл бұрын
Thanks Gabe! I’m in a relatively expensive market, and duplexes and triplexes are rare to find and if you do find one they are extremely high priced. I appreciate your advice and wish you continued success on the tube!!
@GabeBult
5 жыл бұрын
@@ryanferrier6187 in that case it would be alot harder. but there are ways to do it depending on how much work you want to put in. Thanks so much!
@huntingfashiondolls3307
3 жыл бұрын
Sorry i can't stand people around me xD
@KeishelleNichole
Ай бұрын
Baby Gabe haha
@learningindian4825
2 жыл бұрын
I dont want to live with family 😞.I'm searching for land
@Spitoasa
3 жыл бұрын
wow u are so the best gege money maker
@coreySBgallian
5 жыл бұрын
Hey Gabe stumbled upon your videos and I'M GLAD I DID! Because I'm 25 and looking into house hacking because it is just the smartest way to put a roof over your head. Why pay for housing if you can figure a way not to?? BUT my idea, since I live near a big city and i don't think multi-fam units are readily available, it to get a single-fam unit that has a good sized basement and renovate that in order to get a tenant to cover my mortgage and taxes. What do you think?
@GabeBult
5 жыл бұрын
Thats a good idea! it would prob need to be like a 4 bed to make enough but if your able to add another bedroom that would be great! just run the numbers before hand so you know it'll cashflow short and long term if thats how you want to play it
@Shutouts
3 жыл бұрын
I have 1$
@aslmad1
2 жыл бұрын
What? House hacking? What is it????
@fleckbigsby5432
5 жыл бұрын
You bought a 3 unit multi-family for $200k or am I misunderstanding something? If so, damn that's sweet lol
@GabeBult
5 жыл бұрын
It depends on your market lol but yes for my market it was a great deal
@Naturenerd1000
5 жыл бұрын
Trapping in Alaska or Montana
@GabeBult
5 жыл бұрын
alaska
@PowerYAuthority
5 жыл бұрын
Expense is spelled with an s, in point number one you spell it with a c
@GabeBult
5 жыл бұрын
Thanks lol
@staceemcgaughy950
3 жыл бұрын
I need housing
@koelg5858
5 жыл бұрын
What market are you in?
@GabeBult
5 жыл бұрын
New Hampshire
@PowerYAuthority
5 жыл бұрын
My thoughts exactly, there are very few places in Texas where you could buy a property for $100k and flip it for $250k. This is because almost nothing in Texas is $100k so if you're only paying $100k you're in a bad neighborhood. I've never heard of someone making over 40% ROC on a flipped house.
@svetlanikolova7673
4 жыл бұрын
You might want to.leave the US . I bout a house for 7 k I pay 20 dollars yearly for a property tax . The US gov has now laws in place that will track all your food and tax you for buying any meat. Time to gather your backpack and Leave the US . Stuff is about to go down and you dont want to be there. Buy seeds and move as far up.as possible as soon as possible..... that is of course if you want to.pay with your freedom. I suggest leaving the US
@lukewebb753
5 жыл бұрын
I'm in the 209 area code, area. Modesto, Ca. Stanislaus County, 95351 and or 95356. What strategy do you suggest, for the area I'm in living in, and why? How do I analyze, determine what strategy works best me. How would I determine the market. Your content is 🌟🌟🌟🌟🌟 Respectfully and Warmly, Luke Samuel Webb Jr III
@lukewebb753
5 жыл бұрын
Looking forward to your reply Gabe🙏👊💪😎 #continuousimprovement
@GabeBult
5 жыл бұрын
i just looked quick and without knowing what rents go for i would try house hacking with a multifamly if the numbers work so if you can get one that makes money while your living there you should be in good shape
@channel0123
5 жыл бұрын
i though you stopped drinking coffee? :)
@GabeBult
5 жыл бұрын
it calls to me and i could not resist
@channel0123
5 жыл бұрын
@@GabeBult ha, i get it. :) i'm two months coffee clean now. great channel. succes in the future.
@GabeBult
5 жыл бұрын
Hows it being coffee free? Thanks!
@channel0123
5 жыл бұрын
@@GabeBult really good. less headache, less tired or moodswings, cheaper to drink water. many benefits. I will try to go coffeeless in 2019.
@GabeBult
5 жыл бұрын
@@channel0123 huh maybe ill give that a shot at some point! Thanks for getting back
@electricafroman
5 жыл бұрын
What state are you in?
@GabeBult
5 жыл бұрын
new hampshire
@icansaveher
3 жыл бұрын
okay david dobrik
@ciowii2811
Жыл бұрын
who don't want to live a good free life ? you will have lots and lots of haters
@Diggy77
3 жыл бұрын
who tf dislikes this?
@Candyghost272
4 жыл бұрын
Samurai camploo music
@keto4life197
3 жыл бұрын
Even better a thai girl in each room 5 rooms = 1 month of rent per hour.
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