Matt Porcaro

So it was meant to kind of get the zombie homes off the street and give people the ability to not only buy a house, but renovate it and fix it up and make it the way they want. One of the cool things about it is that it also allows you to buy up to a four unit house. property, so you can buy a multifamily property. And this is really big with the house hacking community, right? Yeah.

So it was meant to kind of get the zombie homes off the street and give people the ability to not only buy a house, but renovate it and fix it up and make it the way they want. One of the cool things about it is that it also allows you to buy up to a four unit house. property, so you can buy a multifamily property. And this is really big with the house hacking community, right? Yeah.

So obviously, housing costs are the number one cost for anybody, right? Like your rent or your mortgage payment is usually the biggest cost. So house hacking has become very popular where you rent out portions of your house to cover your mortgage. Or if you're, you know, you really get a good deal, pay for more N plus cashflow while you're living in the property.

So obviously, housing costs are the number one cost for anybody, right? Like your rent or your mortgage payment is usually the biggest cost. So house hacking has become very popular where you rent out portions of your house to cover your mortgage. Or if you're, you know, you really get a good deal, pay for more N plus cashflow while you're living in the property.

So the two Oh three K really just pours gasoline on that, on the house hacking method, because not only are you able to buy a multifamily property, but you're also able to fix it up, build, you know, some equity into the deal, which is what I did. Um, and take that equity to go repeat the process, take that money back out and go buy more multifamily real estate.

So the two Oh three K really just pours gasoline on that, on the house hacking method, because not only are you able to buy a multifamily property, but you're also able to fix it up, build, you know, some equity into the deal, which is what I did. Um, and take that equity to go repeat the process, take that money back out and go buy more multifamily real estate.

It's like the Burr method and house hacking. In your own home. In your own home with only 3.5% down.

It's like the Burr method and house hacking. In your own home. In your own home with only 3.5% down.

So when you talk about, like, return, right? So to put it into perspective, on my first house, I bought a crack house duplex in New York, okay?

So when you talk about, like, return, right? So to put it into perspective, on my first house, I bought a crack house duplex in New York, okay?

Yeah, it's a real story. It was literally a crack house. You know, nobody wanted to touch it with a 10-foot pole, but I... It was kind of the only thing I could afford, even in the New York market. I still had to scrape the bottom of the barrel. And I was using the bank's money, and it was very low risk for me. I only had to put $9,500 down on this two-family, right?

Yeah, it's a real story. It was literally a crack house. You know, nobody wanted to touch it with a 10-foot pole, but I... It was kind of the only thing I could afford, even in the New York market. I still had to scrape the bottom of the barrel. And I was using the bank's money, and it was very low risk for me. I only had to put $9,500 down on this two-family, right?

You had $10,000. Let's call it $10,000.

You had $10,000. Let's call it $10,000.

You're using other people's money, which is real estate investing 101, right? And in addition to, like you said, buy the ugliest house on the nicest block. And most of the thing, like when you're a real estate investor, you're just starting out, right? You're looking, you're watching the TV shows and- HGTV and you're like, you want to flip a house, whatever.

You're using other people's money, which is real estate investing 101, right? And in addition to, like you said, buy the ugliest house on the nicest block. And most of the thing, like when you're a real estate investor, you're just starting out, right? You're looking, you're watching the TV shows and- HGTV and you're like, you want to flip a house, whatever.

And you look at a house and you're like, oh, all right, well, I have to purchase it. I have to put 20, 25% down. And then I have to come out. Then I have to finance the renovation portion of in there looking at hundreds of thousands of dollars. And that was what I was struggling with. I was like, how the hell does anybody do this? You know, I was 20 something years old. Yeah. Like I had, you know,

And you look at a house and you're like, oh, all right, well, I have to purchase it. I have to put 20, 25% down. And then I have to come out. Then I have to finance the renovation portion of in there looking at hundreds of thousands of dollars. And that was what I was struggling with. I was like, how the hell does anybody do this? You know, I was 20 something years old. Yeah. Like I had, you know,

again, 10, 15 grand, that was it. And that took me a long time to save up, right? That was like the most money I had ever had in my bank account. So, you know, when you look at ROI and using the bank's money, remember, this is a government backed loan product and this is a way to launch you into the game. Now, you know, we could talk more about like how to repeat it and kind of stuff like that.

again, 10, 15 grand, that was it. And that took me a long time to save up, right? That was like the most money I had ever had in my bank account. So, you know, when you look at ROI and using the bank's money, remember, this is a government backed loan product and this is a way to launch you into the game. Now, you know, we could talk more about like how to repeat it and kind of stuff like that.