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You’re ready to buy your first investment property: a house hack! But, before you do, you’ll need to know how to analyze a house hack AND how to calculate cash flow on one. If you know how to do both, you can easily identify the best house hacking potential in your area, so you can save money on your mortgage payment, live for free, or get paid to live, like Danielle Daly.
Danielle is on her second house hack and achieved a sizable return on her first-ever real estate deal by following these simple yet effective house hack calculations that ANY rookie can repeat. From finding rent comps to estimating your yearly expenses and finally coming up with your cash flow and cash-on-cash return calculations, you’ll be able to buy your first (or next) house hack with confidence that it’s helping YOU build wealth.
00:00 How to Analyze a House Hack
01:25 1. Calculate Rental “Comps”
02:32 2. Calculate Operating Expenses
04:00 3. Calculate NOI (Net Operating Income)
04:19 4. Determine Financing Costs
04:56 5. Calculate Cash Flow!
05:38 Would You Buy This?
