Team Members First Deal

There are two ways we can save more money to invest. One is by generating more income, which is often hard because most people work a job with a fixed income. Until you are able to start generating a new source of income, or get a promotion, your income will stay the same. The other way to be able and save more money is to decrease expenses. The most amount of money we pay per month is taxes and housing. Real estate can help with both. Owning real estate can provide so many tax incentives like depreciation, 1031 tax exchange, and tons of write offs. This article is not about how to reduce your taxable income, but how to reduce your other biggest expense, your living situation. 

Apex Team Member David closed on his first deal a month ago. He was able to purchase an income producing asset with little down payment that is in an appreciating location in downtown Kansas City. Above all that he was able to live for free! Here are the details:
Purchase Price- 105,000
Down Payment- 6,000
Mortgage (PITI)- 670
Rent from other unit- 775/ MonthThis duplex is separately metered so the tenant pays all of their own utilities. Also, since David is a licensed agent, he received commission on the deal and after that was received he was really only out of pocket 1,000. He is making money to live, how can you beat that? Since then he has been able to snowball his money for more investments and more properties. David looks to invest in more multifamily deals in the future. People may think that these deals are hard to find, but Apex KC is constantly finding deals like this that can change peoples lives with one purchase. Reach out to us if you are interested in learning more about this house hacking lifestyle.

Brett