ilmscore | Get RICH during a recession : How house hacking could save your life

Predictions from this Video

Total: 5
Correct: 0
Incorrect: 0
Pending: 5
Unrated: 0
Prediction
Topic
Status
The trend of purchasing duplexes, renting them out, and house hacking single-family homes into multi-family dwellings is expected to continue, mirroring strategies common in the early 1900s and post-WWII era.
"more duplexes are being either purchased or they are being rented houses are being house hacked into multifamily dwellings and what's interesting to me was that was a very common strategy back during the early 1900s the Depression era and to a point after the World War Two society World War 2 era"
Real Estate Investment Strategies
Pending
A multi-millionaire in Toronto generated significant income ($38k/month) by converting two large houses into multi-family Airbnb rentals, showcasing the potential of house hacking and short-term rentals.
"yet I know a guy in Toronto of all places who's a multi-millionaire from that specific thing all he did was buy a large large house turned it into multifamily he Airbnb sit and he pulls in I think 38k a month and he only owns two yeah it's two houses and he's done that done Airbnb and built a really really extravagant business off of doing what amounts to a house hack"
Real Estate Investment Strategies
Pending
Historical real estate trends show a cycle of houses being converted between single-family and multi-family use, especially during economic downturns.
"you can see that very thing through the lifespan of these houses being converted from single-family to multifamily and back"
Real Estate Investment Strategies
Pending
Renting out accessory buildings, such as barns for self-storage or garages for income ($100-$300/month), is a viable real estate investment strategy that has been employed historically.
"they also converted and rented out accessory buildings like barns and things like that a self-storage is one of those things I talk to a lot of people that they want to be in but then I also meet other people they have a business of buying properties with garages and then they rent out the garage"
Real Estate Investment Strategies
Pending
Family members, after being evicted from their farm in 1929 due to missing a mortgage payment, were able to purchase a 250-acre farm for cash within 10 years by 1939 through hard work and potentially implementing strategies like house hacking or renting out parts of their land.
"my on my mom's side they were kicked out of their farm after missing the first payment from the property they were told to fill up a couple wagons and leave because at those times you could be evicted they within three days in Kentucky I guess after missing a mortgage payment and they were evicted from their farm they were able to take one or two wagons with them and they came up to Ohio and with only about ten years worth of work between 29 and 39 they had worked off the entirety of their farm and they had purchased for cash after salsa and done a 250 acre farm down in Highland County Ohio"
Real Estate Investment Strategies
Pending