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You don't need to be rich. Find a busted but liveable place, fix it up, and let the rent pay your bills.
It's called House Hacking. Live in one unit (like in a duplex or 4-plex) and rent out the other units. Or you can buy a house, live in the basement and rent out the top. You make more money renting out the top level, than renting out the basement. The rent from the other units cover the mortgage, property taxes, insurance and utilities, with money left over for snacks and tuition.
Being a landlord isn’t just passive income and vibes—it’s real risk. You’re fronting the down payment, using your credit, and fixing stuff when it breaks. It’s a business, not a guaranteed win. Not everyone makes it. If it were easy, everyone would be doing it. Just like any hustle, it takes guts, grit, and a lot of late-night Googling and YouTube-ing.
Not if you play it smart. Once you fix up the place and get tenants in, the value usually goes up. Refinancing is like telling the bank, ‘Hey, my house is worth more now. Can I borrow against that?’
Then you use that cash to buy your next property. It’s levelling up with your own equity.
It’s the grind you put in—repairs, renos, upgrades—that raises your home’s value. You're not paying a contractor; you are the contractor. And the payoff? More equity, more flex later
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