Summary List Placement
Mike Hills has developed a property portfolio worth over $8 million, and he credits his success to “house hacking.”
House hacking is a strategy for multifamily rental properties in which an investor lives in one of their units while collecting rent from the others.
Hills has spent the past 19 years developing an expansive portfolio. He owns a condo, townhouse, duplex, quadplex, apartment, trailer park, and eight single-family homes.
“I’m 41 and could retire now if I wanted to,” he said, adding that he was not sure he ever would.
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Mike Hills is the vice president of investment brokerage at Atlas Real Estate, a property-management company based in Denver, and has been with the company for seven years.
But he’s been a real-estate investor for almost three times as long.
Hills started out 19 years ago when he was about three months out of college. He bought his first house with a 3.5% down Federal Housing Administration loan and a $6,800 down payment that he borrowed from his mom. He still owns that house, alongside a condo, townhouse, duplex, quadplex, apartment, trailer park, and eight single-family homes.
Hills, who has been building an expansive portfolio since the early …read more
Source:: Businessinsider – Finance