5 Properties in 5 Years by "Stacking" Your House Hacks

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House hack stacks make building wealth in real estate almost too easy. You buy a house, rent out the other rooms or units, and repeat it every year until you have enough passive income to replace your job. This sounds easy in theory, but many house hackers veer off this fool-proof strategy out of comfort. Investors have families, businesses, and other responsibilities, making moving every year to a new house hack more challenging than you’d think.
But, those who take house hacking to its extreme, like Jordan Malara, see huge benefits after just a few years. Within five years, Jordan has grown a portfolio of five properties, bringing in hefty five-figure rent every month. The property we’ll be touring today is Jordan's 3-in-1 house hack/vacation rental/garage conversion combo brings in $7,500 alone. That’s no pocket change!
If you want to see how you too can set yourself up for massive financial success in five years or less, this is the episode to watch! You’ll hear the timeline, costs, and tips from a veteran house hacker who has secured financial freedom for not only himself but his future family!
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00:00 A 3-For-1 House Hack
01:18 The Basement Short-Term Rental
04:52 Must-Have Tools for Hosts
07:18 The Garage-Conversion Rental
09:29 How to Find Deals Like This
11:09 Increase Bookings with an Outdoor Space
12:22 Time Freedom First
14:11 5 Properties in 5 Years!
#biggerpockets #chrislopez

Опубликовано:

20 июл 2024

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Комментарии : 52

@thenewwayhome Год назад

That QR code that directs to the online manual for Airbnb is truly a brilliant hack! Great work and content! Keep it up.

@Andradi303 Год назад

Love the outtakes at the end. I’m always watching to the end to see the numbers. Please keep sharing that info, it is really inspiring!! Thanks guys!

@relld05 Год назад

Thought this video was going to be more about the actual house hacking strategy... not just the last 1 minute

@jordanmalara2097 Год назад

If you would like to know some more specific details on house hacking I would be happy to connect and share what I have learned!

@relld05 Год назад

@@jordanmalara2097 appreciate it man. Were you re-upping on FHA loans out every time? Have 1 duplex so far, coming up on my 1st year

@jordanmalara2097 Год назад

@@relld05 I was prior military so I actually used my VA loan the first couple of purchases and then have used conventional every other time now, so I still have yet to use the FHA loan.

@seanprive596 Год назад

@@jordanmalara2097 How do you handle the DTI hit you take with each property? We always run into the problem that FHA/Conventional won't consider future airbnb income, so the DTI is not manageable for us after a couple of mortgages. Also, were you able to do 5% down because you moved into each house as your primary?

@jordanmalara2097 Год назад

@@seanprive596 Yeah, we continued to move each year so we could reuse the low down payment financing options. This has helped us get a better CoC return and acquire more properties quicker since we don't need to save up for 20%-25% down. As far as the DTI goes, the key is to find a creative lender. Hit me up on another platform and we can go into more of those creative methods ;)

@fungamingtrash358 Год назад

Awesome videos so far! As someone who would like to start house hacking, I'd love to know more about how to find and analyze potential rental properties in-depth. Such as, how to figure out all additional expenses like utilities, taxes, insurance, closing costs to calculate what your cash on cash return would be when looking at a potential home. Definitely will continue to follow this series!

@GusDom Год назад

Let's goooo!!!! So excited for this video. Currently shopping for my first house hack. 👌

@GusDom Год назад

@Ben Einspahr I live in the Chicago area. So we're looking at places in the city as well as burbs just outside the city. It's not easy but we're hanging in there. Lol.

@Sollazzo08 Год назад

Im currently looking for my first house hack as well! Got an FHA approval for up to $337,000. Im 1 hour north of NYC and this area is hard to find a multifamily and on top of that its super competitive. I am considering nearby states but I am afraid to leave the area that I know so well.

@justinbrewer3288 Год назад

Due to close on my first home next week. I got my real estate license a year ago and represented myself. I'm also using a VA loan. I feel like there is some untapped potential benefits I might not be using. Ways I could be leveraging my license and veteran status to maximize profits. It's all a bit nerve racking...

@tryz1419 Год назад

Awesome 👌 keep up the amazing work 👏

@tryz1419 Год назад

Refresh my memory

@jeffreywhite958 Год назад

Great stuff Jordan, what a creative approach to turn a property into a fantastic deal just by looking being different , understanding the market and knowing your numbers. Was there any issues with the city with the garage on a slab vs. permanent foundation for creating another unit?

@jordanmalara2097 Год назад

We didn’t run into any major issues with the city thankfully. In our area, for these types of garage conversions we have to dig around the foundation and insulate from the exterior, but that’s all that is required.

@lestatstaton7856 Год назад

This sucked. I just bought my first house hack for my own stack, new one every year, and was really looking forward to hearing how he was doing his. But you ignored the title of your video entirely. Whole video was just how he runs 1 short term rental. Didnt even mention the stack until the last 1 min of the video.

@CanYouJust_Not Год назад

super cool property, really good eye for the potential

@Andys_Auto Год назад

Love the qr code idea

@ericgeppert4252 Год назад

What program do you use for pricing? It can definitely grab surrounding properties prices based on bedrooms/bathrooms but how does it compare their quality vs yours?

@jordanmalara2097 Год назад

@Eric geppert We use Pricelabs for our dynamic pricing. In the beginning it doesn't really have any way to compare quality, but after some time it will recognize the differences and recommend a higher price than what a standard 1 bedroom might be going for in the area. That is at least what we have noticed. So if market base rate for a 1 bedroom in our area is $110, it will now recommend we set our base at $125.

@ericgeppert4252 Год назад

Thanks for your response! @@jordanmalara2097 why do you pay for priceLabs vs using airbnbs smart pricing?

@jordanmalara2097 Год назад

@@ericgeppert4252 Personally, I think it's a conflict of interest to use the same platform to set my pricing. I also don't know what data sources Airbnb uses to calculate price and demand, whereas Pricelabs uses sources outside of just Airbnb data. I also think Pricelabs provides more customization when setting prices and strategy.

@prkumawat5455 Год назад

fantastic job dude

@jordanmalara2097 Год назад

Thanks! Appreciate that!

@TomHallhomebuyingokc Год назад

What is the software he is using to automate. Zapier? Or out of the box?

@jordanmalara2097 Год назад

For dynamic pricing we use Pricelabs, for automated messaging we use Hospitable and for the digit guidebooks we use Hostfully. Sorry, wasn't able to give specifics on software in this video.

@laurenvalinoti Год назад

Very impressive!

@jordanmalara2097 Год назад

Thank you!

@falsificationism Год назад

Audio dude: Back off on the gain a bit and lower the volume on the intro and those sweet, sweet musical interludes. 🙏🏾

@inderatwal6873 Год назад

Keep it up

@highlightsareus271 Год назад

This guy really loves his Frank Sinatra

@sundaylt3225 Год назад

What are the names three programs that he uses?

@jordanmalara2097 Год назад

Sorry, there were some restrictions on saying company names when filming. I use Pricelabs, Hospitable, and Hostfully.

@sundaylt3225 Год назад

@@jordanmalara2097 thank you!

@kalpeshrajpirohit2940 Год назад

Galbaat a 👌🏻

@lilisarkar5059 Год назад

agg laati 🔥

@jacobcoale Год назад

Basically just showing off his airbnb, not much actual info about house hacking…

@kjhudson1088 Год назад

Has 0 information on stacking house hacks. Misleading title....

@Nolan.Gurule Год назад

2nd property you can tell he regrets it

@jordanmalara2097 Год назад

Not at all! Everything doesn't allows go as planned, but I was able to pull all of my cash out of this deal using a cash out refi and recycle it into our next deal. No regrets at all! Except for maybe the GC I used lol