Ever wondered how to turbocharge your real estate investing? Get ready for a deep dive into the underappreciated strategy of bonus appreciation with our special guest, a seasoned investor who has successfully implemented this approach. We unpack the ins and outs of this unique method, which enables savvy investors to maximize tax deductions and increase their investment bandwidth. Our guest shares firsthand experiences with this viable approach, offering priceless insights into how to strategically leverage property platforms like VRBO and Airbnb.

Navigating the labyrinth of real estate investing goes beyond simple house-hacking. Join us as we discuss the power of growing a real estate portfolio and the critical need for diligent tax planning. Our guest also reveals some common deductions that many investors often overlook and breaks down the two-year rule—a significant tax advantage that applies to properties you've lived in for at least two of the past five years. With an enlightening discussion on the different implications of this rule for single-family homes and multi-units, this episode has something for everyone—whether you're a seasoned investor or just starting out on your journey. Get ready to learn how to accelerate your real estate investing journey!

Contact Cody and make him your CPA:

• Website: knitfinancial.com
• Instagram: @cody.goldsworthy

Visit our website to learn more about house hacking at househackingsuccess.com

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House hacking is one the best ways to get started in real estate. So many investors have used house hacking to buy their first rental property with a low down payment, then even live rent free. You can live rent free because the with house hacking you utilize an "owner occupied" loan to buy a property. Owner occupied means you agree to move into it. If you occupy the property you get a lot of loan options that vary from 0-5% down. You can even buy a 4-unit multi-family property depending on the loan! After you move in you rent out the extra space to cover the mortgage, which allows you to live rent free. You only have to do that for a year! After a year you can move out and turn your property into a full time cash flowing rental property! What makes house hacking so powerful is a combination of the low down payment and living for free. You can literally change your life buy purchasing one house hack and cutting out your rent or mortgage. Imagine if you reinvested those savings to buy another property. House hacking is the best way to go from just getting by to becoming a rock star real estate investor.