Procedure financial monitoring don't scare you. And in bandit signs you no longer see anything threatening except the illegal activities of their authors. Thanks to the efforts of our clever authors, you know how and what to buy in order to achieve the desired result. However, what to do if you simply do not have enough funds? First of all, a mortgage loan from him comes to mind annuity and differentiated payments However, even with them, the amount can be too high. Is this a reason to abandon the dream of owning a home and accept the lifelong status of a tenant? Just not for you! THE Capital will share with its blog readers a little trick that will allow you to buy real estate for almost nothing.
We have already told you about the possibility to buy in installment plan, so you are more than familiar with the intricacies of this process. This time we want to tell you about where to get money to pay monthly payments. Did your eye suddenly catch the penultimate word? Look at it again. Feel something familiar? Rent is also paid every month. Have you not yet begun to notice the hidden connection? Our English-speaking colleagues long ago invented a special term to denote a new method of loan repayment - house hacking. It will be discussed in today's real estate slang lesson.
❝House hacking is a strategy for repaying a loan for the purchase of real estate, in which the owner partially rents out the object in order to cover the mortgage and related expenses with his income.❞
In fact, the owner himself does not spend a penny, since the mortgage is paid by the tenant. You simply become a kind of intermediary for the transfer of money from one instance to another, while also living in a new home for nothing. The scheme is quite unexpected, but it works. Of course, if we are talking about a one-room apartment, you will have to live elsewhere, but more spacious objects are quite suitable. It is especially convenient to apply the house-hacking strategy to a house, because with a simple movement of the hand it can be turned into a townhouse.
Example of use:
—- And where did you get so much money for such a house?
—- And I don't have them.
-- How is it?
—- Have you heard anything about house hacking? I just moved tenants, so I cover the loan payments from their pockets.
Want to find out how effective a house hacking strategy is? There is no better way to test it than in practice. We suggest you buy a small one house in Kyiv, and the further plan of action is already known to you.
