Your Everyday Rich

Ep 24 ft Taki Wong - Landlord training wheels through house hacking: the ultimate first time home owner cheat code


Listen Later

Welcome to another episode of "Your Everyday Rich" podcast. 

In this episode, Jason and Jennifer chat to Taki Wong.  He’s a 25 year old working in the tech world who recently bought his first home, and get this… practically lives mortgage free.  That’s right… mortgage free.  After seeing the power of what real estate did for his immigrant parents during his childhood, he was keen on starting his portfolio.  But with bidding wars still going on, real estate prices at all time highs, and a strong desire to not be house poor, he knew there was only one way he could afford to do so …. House hack.

While house hacking isn’t a new concept, it turns your primary residence from a liability into a cash flowing asset.  Taki blends patience and fundamentals in his house hacking venture.  He goes into the criteria that he stuck to which helped him avoid overpaying, and actually getting his house below list in a hot market.  Taki also hopes to leverage technology to tokenize housing to provide affordable housing to less fortunate people.  And did we say he’s only 25 years old??

Why do these conversations matter? They matter because these convos are happening behind closed doors and we want them to be front and centre so you can be empowered to achieve financial success.  You don’t know what you don’t know but we are here to change that and provide you with the info, insight, and tips you can use to make the best decisions around your money and investing so that it is built around Your Everyday Rich life. 🚀

In this episode we chop it up about:

  • Most important things he learned from his parents about investing
  • Why house hacking is the ultimate strategy for first time home buyers
  • Taking over a year in his search for the “right” property
  • Why sticking to the fundamentals and a strict criteria saved him from a raw deal
  • Landlord training wheels
  • The secret on how to find tenants specifically for house hacking
  • Tokenizing real estate
  • LOLable Crazy Rich Asians Q&A segment

  • Follow Jason and Jenn’s social media:

    • Jason’s Instagram: ⁠https://www.instagram.com/mrjasonkao⁠
    • Jenn’s Instagram:https://www.instagram.com/jennfahh27⁠
    • Your Everyday Rich instagram ⁠https://www.instagram.com/youreverydayrich⁠
    • Youtube: ⁠https://www.youtube.com/@youreverydayrich⁠
    • Follow Taki’s social media:

      • Taki’s Instagram:https://www.instagram.com/taki.wong/ 

      • DM us or leave a comment to get exclusive access to our NETWORTH calculator! 📲📩⌨️


        Listen on:

        Apple:⁠ ⁠⁠https://podcasts.apple.com/us/podcast/your-everyday-rich/id1676179014\⁠

        Spotify: ⁠https://open.spotify.com/show/1JHf9dfrh1xrQ8on5sPQIg⁠


        Disclaimer

        Your Everyday Rich Podcast is presented solely for general informational, educational, and entertainment purposes. Any such information or other material referenced in this podcast should not be construed as legal, tax, investment, financial, or other advice. It is not intended as a substitute for the advice of a qualified professional.

        ...more
        View all episodesView all episodes
        Download on the App Store

        Your Everyday RichBy Jason and Jennifer Kao - YER Network