If you’re not familiar with the acronym “FI,” you haven’t been paying attention to the latest movement in personal finance.
“FI” stands for “financial independence,” and in the FI community, it means earning enough money from investments and passive income that you don’t have to work anymore. An individual or even a family doesn’t have to be rich to achieve FI. Smart money management and wise investments — like in real estate! — can make FI much closer than you think.
Devon is on the path to FI. He’s an officer in the Space Force with a high-paying technical job. When we started working with Devon, he was frustrated that he couldn’t find a house hack that worked. His goal in house-hacking was to bring his living expenses as low as possible — a key ingredient to reaching FI at a young age.
After months of scouring the market, we finally found the right property for Devon: a 3-bedroom, 2-bathroom house with a newly built 1200-square-foot, 3-bedroom, 3-bathroom ADU behind it. The house had a longterm Section 8 tenant paying market rent, and the ADU would be delivered vacant.
This transaction had its challenges, but the best deals usually come at the tail end of headache! And the numbers are fantastic. Watch the above video for all the details from Devon himself.