All right, so how the heck are you going to purchase a home and live for free? The first myth that you have to understand that a lot of people incorrectly believe, and I was the same way 10 years ago, before I was ever in real estate. I believed you needed 20% to put down on a house for a down payment.

That's not correct. It's 120%. Not true. There are multiple loan options that you can basically put down anywhere from 0% to 5%, VA loans for veterans, if you're a veteran or family member of a veteran, you can put down 0%, no money at all. An FHA loan is 3.5% and even a conventional loan is only 5% down.

 All you have to do is it have it be your primary residence. So what you would do is a strategy called house hacking, and it's a phenomenal investment strategy. You're going to purchase a duplex. You're going to live in one side and rent the other side out. So let's say in this area, you find $150,000 duplex, which is not that hard in western Pennsylvania.

You're going to live in the one side and you're going to rent the other side out. So your mortgage depending on taxes and insurance, it's probably going to be about a thousand dollars a month. You can rent that other side out for a thousand dollars a month. Some areas, maybe the rent's only 800 in that area.

Okay. So you got 800 of the thousand dollar mortgage payment paid for. In other areas, the rent could be $1,200. So now you're making money, after your mortgage gets paid, but basically you're buying this house and you're going to let the renter, the tenant pay for your mortgage. And basically you can continue to keep doing this year over year after year.

You have to live in it for one year and then you. Move out, rent both sides out now, be making income off the property and then go and do the same thing in another property and buy another duplex, triplex or a four unit.  Basically you become an investor at that point with an investment property.

House hacking is a phenomonal strategy.  So if you have any questions on house hacking and how to get started, get at me,  I'll get you all the recommendations and set you up to find a place. I'll have some more information on house hacking in future videos.