All Forum Posts by: Demario Scott

@Iani Piha completely, what time in life is more pivotal than our 20’s. I can be a success in old age like kfc’s founder however if done in my 20’s it all compounds. Young people we have little money but time, mid age a little of both, old age money but no time. For me I imagine having he time money and whatever resource to live a fulfilled life. And as for tv and what I much rather read and podcast I live on purpose.

@Iani Piha house hack, referring to you buying a multi unit property or single family and renting units or rooms. Scott trench wrote a book set for life and it’s a good book for the younger crowd and it explains house hacking.

Completely, I have never considered it. I am trying to virtually have all expenses covered housing with the house hack and perhaps air bnb. Vehicle is paid of and through side hustles and and cashflow from the house hack to cover expense to have round an 80-90% savings rate.

@Dave Rav I am looking to create a sort of side hustle myself. I have considered Uber and Air bnb. Did you ever make it around to renting your car.

@Liz Boer I am currently brainstorming storming to create a side hustle. I am buying a home and considering doing air bnb for a room. Have you figured out a side hustle since posting. And could you perhaps house hack since you have added a housing expense anyway.

@Harrison Sharp I understand I have to friends who I plan to have move in and I’ll have one bedroom to fill to be cash flow positive.

@Harrison Sharp hey I noticed in the post your house hacking renting rooms. I am closing on a home to do the same thing. Do you have any recommendation to make the situation better, easier, anything of the sort.

@Kenneth Foster hows it going I am also located in South Carolina, where did you find a decent multi unit lol. Jokes aside how much capital do you need have you been looking at getting a lender from here and why not finance it all perhaps with an FHA.

@Nikola Marinov How will you find tenants?

@Dakari Mitchell hey, I am not the most experienced but I am continually learning to be at least well educated. And I firmly believe that’s it Is the most important step. So how to aquire money for your first multi family to invest is to get the education an invaluable asset. From education I think we can gain actionable steps to make things happen. So I would learn how to earn more and hold on to more. So create a high savings rate and if the income is low focus on getting it higher then back to the savings rate. In summary my opion two steps to get started on your multi. 1.educate 2.execuate I recommend BP, and if your not into BP money its perhaps all the information you need to gain capital to deploy in real estate.