completed all the payments. I strongly recommended that you consult with a CPA/tax attorney and real estate attorney before beginning or entering any real estate contract to buy via seller financing. I suggest having your attorney draw up the paperwork for you to ensure all bases are covered. Side Note: this is a strategy that I personally used to purchase a multifamily property. You can structure seller financing transactions in a way that makes them a win-win for both buyer and seller! Whether it's a residential purchase or a larger multi- family purchase, you can structure a seller financing offer. 4: House Hacking "House Hacking" is another great way to get started when using your own money to begin your real estate portfolio! Essentially house hacking is where a buyer purchases a property with the intent to reside there as their primary residence, but rents out a portion of the property to help cover the mortgage. One example would be to buy a larger home than you need, like buying a 4 bedroom/2 bath house, and then renting out one of the bedrooms to a long term tenant. You could also rent out a bedroom as a shared space for a nightly rental to bring in extra income each month, but not have a steady, full-time tenant. I have personally done this strategy! It can be a great way to reduce your monthly mortgage expense, or eliminate it altogether. Another way to do this strategy is to buy a duplex (or up to a four-plex): you live in one side of the duplex (or in one of the four units) and rent out the other unit(s)! This scenario would provide you with more privacy as you would be renting out an entirely separate unit (not sharing your current living space). Be sure to consult your CPA and attorney before "house hacking" to make sure you have everything in place that's needed to protect yourself legally in these situations and the proper insurance as well. Educate yourself on the pros and cons of this strategy before jumping into it!
Investing Your Retirement Funds
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