Housing Hacks With Michael Foster

Melanie Johnson & Jenn Foster, owners of Elite Online Publishing, interview Michael Foster about his view on the real estate market and his book Military House Hacking. 

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What You’ll Learn in this Episode

• How to decide between long term and short term rental properties.
• How to know when to hire a property manager.
• Why you should invest in multifamily housing.

Quotes:

“what’s your target market? And how recession proof is that target market?” (6:32)

“Management is definitely important. At the very least you want to have a few people in your pocket.” (9:28)

“If you are living in that house, and you plan on living there for at least a year or two, maybe more, the more you can build value into that home the better. We call this sweat equity.” (13:07)

About Michael Foster:

Michael first got involved in investing to build something for himself and his future family. He realized at 25, he had nothing of value to carry forward after the first quarter of his life. He knew living paycheck to paycheck was not an option, and he wanted to know what abundant living felt like. The more knowledge he built, the more books he read and podcasts he listened to, he realized, building for his future was way easier then he judged it to be. Once he changed his mindset, visualized what he wanted, and set his goals, Michael painted a picture of what financial freedom looked like! To pursue his passion of traveling, to be his own boss, and to give back in a major way!

Real estate is just one tool of investing, but it is one that allows you the freedom and versatility to use it as you wish. Just as anything is in life, what you put in is what you get out. However, YOU create your own hours. YOU create your own team. YOU make the decisions that carve your success on your terms, on your time, and on your willingness to succeed. Michael wants to have a business he can work on and make money from his phone, wherever he is in the world. Real estate gives Michael just that.

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