Episode 202 - Building a Family Legacy through House Hacking with Dan McDonald

INVEST2FI

In this episode, we’re excited to sit down with Dan McDonald, a long-time friend and house-hacking coach with $ 1.2 million in his portfolio. Join us as Dan shares how he started his investment journey at the peak of COVID, reflecting on the pivotal moment he knew real estate was the right path for him. Dan's story is relatable and realistic, from his initial start in rental arbitrage to his first house hack. It is packed with practical advice for those looking to enter the real estate game and begin building their family legacy!

Tune in as Dan offers a detailed account of his experience with house hacking in a relatively large and expensive market. He shares how he leveraged a HELOC on his first property to purchase a second one, providing valuable insights into using existing assets to fund new investments.

This episode is perfect for aspiring investors as Dan offers essential advice on avoiding mistakes and strategies to take advantage of. His portfolio numbers also give a concrete look at his success, inspiring those hesitant to start building their investment portfolio. Whether you’re just starting or looking to expand your portfolio, Dan’s experiences are a roadmap to creating a lasting family legacy through real estate investing.

PODCAST HIGHLIGHTS:
[3:55] How Did Dan Start Investing?
[8:00] When Did You Know Real Estate Was for You?
[12:00] Understanding Rental Arbitrage in Action
[13:30] Diving Into Dan’s First House Hack
[18:20] Buying a House at the Start of COVID
[21:15] Mistakes to Avoid for First-Time Investors
[28:06] On Screening Tenants
[36:30] The Power of Appreciation
[41:57] Dan’s Experience Getting A HELOC
[44:35] Investing in a Second House Hack
[50:12] Dan’s Portfolio Numbers
[52:50] Best Words of Wisdom for an Investor
HOST
Craig Curelop 📸 IG: https://www.instagram.com/thefiguy
📘 Book: https://store.biggerpockets.com/products/the-house-hacking-strategy
🏘️ Buy Real Estate: https://bit.ly/3V3QDze
GUEST
Dan McDonald
📸 IG: https://www.instagram.com/househackandhustle/
📘 Free Roadmap to House Hacking: https://view.flodesk.com/pages/64aea758e181ddda00ff253a
🏘️ Linktree: https://linktr.ee/househackandhustle