A financially independent millennial shares 2 'golden rules' of real estate that helped him build wealth
Real estate investor Cody Berman shares his strategy for achieving financial independence through house hacking and long-term rental properties. He emphasizes the 1% rule and the importance of living in properties that generate income to offset housing costs.
Why it matters
Provides actionable personal finance strategies for millennials looking to reduce living expenses and build wealth through real estate.
Cody and Lauren Berman used real estate investing to hit financial independence. Courtesy of Cody and Lauren Berman Strategic real estate investing accelerated Cody and Lauren Berman's path to financial independence. They started with house hacking and then started buying long-term rentals. Two rules helped them build a cash-flowing portfolio: the 1% rule and buying properties they'd live in. Real estate played a major role in Cody Berman's path to financial independence . The " Retire by 30 " author started with a house hack, a strategy that involves renting out part of your home to offset or eliminate your housing costs. "I think house hacking is probably, on the expense front, the biggest lever you can pull bar none," Berman told Business Insider. "One-third of the average American's paycheck goes to housing.
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