House hacking to live mortgage free

I very much enjoy listening to the bigger pockets podcasts as one of my strategies to learn more about real estate. I keep hearing the statistic everywhere that eight out of ten millionaires in the US made it through real estate. Also, ‘the trend is your friend’ so I guess getting into real estate in the correct manner potentially can bring you much wealth. Well one term that Brandon Turner who is one of the co-hosts of the bigger pockets show, uses a lot is “house hacking”, and what this means is that you can essentially make your housing costs free.

One strategy is to buy a multifamily, where the rentals from the other units pay for your cost of living expense, potentially giving you a huge amount of savings throughout the year. Here is the link to this interesting and well-articulated point of view: House Hacking.