How To Live Rent/Mortgage FREE! (House Hacking) #Best Education Page #Online Earning

- So in this video today, I'm going to be showing you guys,

step by step, exactly how you can live,

rent-free, or mortgage-free, by leveraging Airbnb.

Now the reason why you might care about this

is because in most cases, the biggest monthly expense

people are incurring is their monthly housing payment,

whether it be their mortgage,

or whatever they're paying for rent,

and if you can effectively eliminate

the biggest expense in your life,

well, that's going to free up a lot of money for you,

that could potentially allow you

to direct that money elsewhere for your savings,

or just not have to worry about this really large payment,

that often burdens so many people.

So just how much are people spending

on their mortgage or for their rent?

Well, according to The Balance,

the average mortgage payment is $1,030 per month,

and if you're somebody who is renting,

well, your rent is probably closer

to 1,200 to $1,500 per month, as it is more expensive

to rent than it is to own a place.

So I'm gonna be showing you guys how people are using Airbnb

as a way to offset their housing payment,

or to eliminate their housing payment entirely,

and if you guys are curious just how much money

you could potentially earn with Airbnb,

I'm going to provide a link down in the description below

to an Airbnb calculator.

All you have to do is enter some basic information,

like what type of property you have,

what your location is, how many guests would be able

to stay at your place, and they will give you an idea

of just how much side income you could potentially make

by listing your space on Airbnb.

So that is going to be the top link

down in the description below, if you guys are curious.

Not only that, we're going to jump in to my computer

later on in this video, and analyze a couple of properties

that would be a good fit for this strategy.

So stay tuned if you guys wanna see that.

Now the most common strategy out there

for living mortgage-free is to simply buy

a multi-family piece of property,

and that's exactly the strategy

I followed earlier this year.

So the property I purchased is actually a main house

with two different apartments, and those apartments

are used to offset the mortgage for the property,

meaning I live for a very small amount of money,

compared to just going out there and buying

a stand-alone single-family house.

Now there is one big problem with this strategy,

and that is the fact that multi-family properties

can be very expensive,

and if you're doing a conventional loan for example,

of 20% down, that's a lotta money you have to be

putting down in order to purchase that property.

So just for an example here, the property I purchased,

which is a three-family, cost me around $450,000.

Now if I looking for just a single-family

house in the same area,

it would only cost me about $275,000.

So it's significantly more expensive

to buy into a multi-family property,

and you need to have a much larger down payment.

Now the strategy that I'm going to show you

is a little bit different because you're not buying

a multi-family property.

What you are doing is buying a house

with an in-law suite, or an in-law apartment,

and I'm sure most of us are familiar with what these are,

but if you're not, often times, this is a type of property

that is designed for somebody who's taking care

of an older adult.

So let's say for example, your grandfather,

or your grandmother, you know, they're doing well,

but they may need a little bit of help here and there.

Well, that's where you would have a property like an in-law,

where you are living on one side,

and you have a smaller in-law suite

for whoever you're taking care of.

Well, the beauty of this type of property is

that actually makes the ideal property to list on Airbnb

as well, because you have your own separate living quarters,

but you also have this side apartment, or side suite,

that you can list on Airbnb,

that can be used to offset, or in some cases,

pay your entire monthly mortgage payment.

So just how much money can you make

by listing your property on Airbnb?

Well, here's an example of somebody I found

in a CNBC article, who made over $300,000

in just four years by listing his condo on Airbnb,

and then eventually purchasing a second condo,

and listing that property on Airbnb as well,

and I was actually curious myself

about the earnings potential for Airbnb.

So earlier this year, over the summer,

I actually listed my spare bedroom on Airbnb for a month,

and I was actually able to make about $1,000 in that month

of listing my property on Airbnb.

So if you guys wanna check out that full video,

I'm gonna link up to that down in the description below.

That's basically an in-real-life experience

of listing my spare bedroom on Airbnb.

All right, now let's assume that you do not have the money

to go out there and purchase a multi-family property,

and you do not have the money to go out there,

and find a single-family home

with an attached in-law suite.

Well, what is your option here for following this strategy?

That is going to be to rent an apartment

that allows something called subletting,

or allowing you to rent that apartment to somebody else,

while you have that lease.

Now it may be difficult to find places like this,

but it's entirely possible.

In fact, there is an entire group of people out there,

that do something called Airbnb rental arbitrage,

which means they essentially rent an apartment,

list that entire apartment on Airbnb,

and they look to make more money from the Airbnb listing,

than it cost them for that rental.

So it is possible to do this,

but what I'm getting at here with this strategy,

is let's say for example, you're looking at a one-bedroom

apartment that's gonna cost you $1,200 per month.

Well, if you're able to get a two-bedroom apartment

that's gonna cost you, maybe $1,500 per month,

and then if you list that as a private room on Airbnb,

well now, all of a sudden, with that Airbnb listing,

you have the potential to offset some,

if not all of that rental expense

by listing that room on Airbnb,

and obviously, it's going to depend on the location,

how much you can charge, and like I said, that calculator

down below will give you a good idea

of the earnings potential in your area for Airbnb,

but there are countless people out there

who have followed this strategy.

Instead of just renting a one-bedroom,

they'll rent a two or a three-bedroom apartment, or house,

and then they will simply rent those out

as rooms to other people, or they're just going to list them

on Airbnb as a short-term rental for somebody

looking to stay in the area for a short period of time.

Now, of course, the number one thing I have to stress here

is before you rent a place,

make sure you talk to your landlord,

tell him exactly what you're looking to do.

Make sure that subletting is allowed,

and specifically ask about Airbnb,

and of course, you're going to want to consider

what the laws are, and the regulations

in the area that you live in,

because certain places have different restrictions

and laws surrounding Airbnb, and other short-term rentals.

So that being said, guys, what I wanna do now

is jump into my computer.

We're going to go ahead and analyze some properties

that might be a good fit

for either of these two strategies that we discussed.

All right, guys, so here we are at my computer now,

and what we are going to do is we are going to open up

the Random US City Generator, pick one of those cities,

and then we're going to look for a property on Zillow,

that would be a house with an attached in-law suite,

and then we'll look at what the earnings potential

might be if you were to list that on Airbnb,

and we'll consider what the mortgage would be

on that property as well.

So we're gonna go ahead and go with Jacksonville, Florida,

as the random city we're going to pick here.

So the very first thing we're going to do

is look for a property in Jacksonville, Florida.

Now obviously, we're looking for properties for sale

in Jacksonville, Florida, and what you can do here as well,

if you go to the More section,

you can just type in your keyword here,

which is going to be in-law,

and that leaves us with 84 properties

for sale in Jacksonville, Florida,

that most likely have an in-law apartment attached to them.

So right off the bat, this one up top here looks pretty good

as you can see from the pictures,

you have the main house here for sale,

and I'm assuming that either this down here,

or this building on the side here,

is going to be the in-law apartment.

Now this may not be the best option

because it says right here,

"One of the bedrooms is absolutely perfect

"for a mother-in-law suite

"with its own entrance from the garage."

So I don't know if this one really has a separate bathroom.

It may just be a separate bedroom,

which this would work for Airbnb,

but if you didn't wanna have somebody

sharing your same bathroom,

that may not be the best option.

So it's not a totally separate in-law, so let's go ahead

and skip this one for now, and keep looking.

All right, so we found a property here

that would most likely be a good fit

for what we are looking to do.

As you can see right here,

it says, "This open concept floorplan

"hosts a mother-in-law, or teen, or guest suite,

"complete with a private bathroom,"

which is ultimately what you're looking for here,

is a property that has a private bathroom.

That way, your guests have the ability

to have their own private space within the house,

and you're not gonna be bumping into each other

in the bathroom, and as far as the price goes,

this is reasonably priced here,

at you know, 289,000, so I wouldn't be surprised

if we can get most of this mortgage covered,

if not, be mortgage-free on this property

by listing that in-law suite on Airbnb.

So first of all, let's consider what the mortgage cost

would be on this property.

Zillow is estimating it at $1,476 per month,

and that's probably pretty accurate here.

This is based on a conventional mortgage, 20% down,

and this is an interest rate of 3.83%

which is probably about average right now.

So obviously, you would need a good amount

of money to do this,

but the other option that you would have here,

if you wanted to, was to go the FHA route,

but then of course, you are putting less money down,

but you would have to pay that PMI, or mortgage insurance.

So we're gonna just keep it the way it is here,

with putting down $57,800, or 20% down on this property,

meaning your mortgage would be around $1,500 per month,

and this does include $243 per month for property taxes,

$100 a month for home insurance,

and 50 bucks a month in HOA fees,

which may or may not apply in this case.

So now let's jump over to the Airbnb calculator,

and see how much you could potentially earn

listing this private space on Airbnb.

So here's the big difference here

between having an entire private place,

and then just offering a private room,

and honestly, guys, I don't know the layout of this house.

I'm not sure if these people

have a private entrance to the guest suite,

but obviously, if you're looking to maximize

your earnings potential, having a completely private space

for your guests would be the best-case scenario,

and there are houses with in-law apartments,

where the in-law apartment has a completely separate kitchen

bathroom, entrance, and everything like that.

So this is why that's important.

If you had an entire place available

in Jacksonville, Florida, for up to two guests,

your earnings potential here is just under $1,900 per month,

and as we said, the mortgage on this property

would be around 1,500, so if this was a completely private

space here, where you were renting out the in-law suite,

that could totally cover the mortgage.

However, when it becomes just a private room,

which is where there is still a shared entrance,

and some shared spaces in the home,

it is going to be significantly less money

because that is a less desirable property.

So if you spend a lotta time researching,

and finding the right property,

you could absolutely find a place

that has a completely separate in-law suite,

that you could offer as an entire place on Airbnb,

and it's entirely possible that that could totally cover

your mortgage for this property,

or if you're just looking to offset it,

you can find a place like this,

which is most likely just a private room within the house,

and even in this case, you're covering,

you know, half of the mortgage payment potentially,

just by listing that space on Airbnb.

So anyways guys, that's gonna wrap up this video.

I hope you enjoyed it.

If you wanna try out the Airbnb calculator for yourself,

that's gonna be down in the description below,

but let me know what you guys think of this strategy.

I would love to hear what you guys think,

in the comment section below,

but thanks so much for watching, guys.

I hope you enjoyed this video,

and I will see you in the next one.

#Best Education Page #Online Earning

online earning,make money online, earn money online, online earning, online earning sites,

 make money online free, online money income, earn money online free, money online, best way to earn money online, online income site, money earning websites, best online earning sites, easiest way to earn money online, earn money payment bkash, online money income site