What does everyone do for a Personal residence?

[Reid Kelley]

Hi there, just getting into this and plan to house hack in a multi family first. What is everyone’s strategy for their personal residence and exit strategy from a house hack? Obviously you don’t want to pay a mortgage. Is it to simply get all of the passive income to cover your own mortgage and then some? What’s the quick way to get out of a house hack and have a private personal residence paid for and is that desirable?

[Thomas S.]

Continue renting and investing until you have more income than you know what to do with or have any use for then buy a home.

If your priorities are to invest for income to replace a 9 to 5 personal home ownership should be way down your list of priorities. It is a liability that will cost way to much and drain your ability to save for investing. You definatly do not want to tie up all your cash in a home. It's a life style decision only.