Ep. 55: Live for Free through House-Hacking with Weston Harding

Originally from Houston, Weston Harding was about to move to Dallas for a job. Before his supposed move, he had a serious conversation with his father over lunch and was advised to explore another big city. He wound up moving to Chicago, where he took a one-day mentorship with Harold E. Eisenberg Foundation resulting to a career in the commercial real estate. Fast forward and Weston has become well-respected in the Chicagoland real estate and sits on the board of directors of the reputable foundation. Geared with expertise and knowledge, he founded X Plus Real Estate in 2011, the no. 1 seller of 2-4 unit property in Chicago to date. Without holding back, he shared about 2-4 unit properties, hot neighborhoods and financing advantages on this episode.  

Key Market Insights

• Moved to Chicago from Houston to explore another big city as advised by his father
• Worked for Essex Group, which introduced him to 2-4 unit property
• As President, founded X Plus Real Estate in January 2011
• No. 1 seller of 2-4 unit property in Chicago
• Couldn’t keep up with the number of clients, end up losing some to competitors
• Hired employees to disseminate tasks and provide quality service
• Sold $20 million dollars plus of real estate in 2017
• Ranked number 62 out of 15,000 realtors in Chicago
• 80% of current buyers are house hackers
• Buyer’s vision: Live in one unit have the other 2-3 units pay off the mortgage
• 2-4 unit property: Alternative way to living for free, and earning passive income
• House Hacking Tips: Screen tenants, identify building and property needs, secure property funds for maintenance and repairs
• 60618 zip code: Avondale, Irving Park, Roscoe Village is the number one seller in 3-4 unit properties for the last four years
• Hot Sub-Market: Areas along the blue line train, a natural draw for renters
• Number one driver: Updated Home Possible Loan Program by Freddie Mac – stretches loan limit up to $870,000 available anywhere in Chicago
• Pilsen: Emerging art community lots of buildings and giant murals
• Continuous growth and development in the Southside area. Prices remain significantly lower up to date
• Provides proforma which includes current rents, projected returns, etc. on every single property available in X Plus Real Estate

Bull’s Eye Tips:

Winning Your Market: Getting out there and actually getting into it.

Tracking Marketing Changes: Getting together for coffees and lunch with other people doing things in the area.

Daily Habit: Get up early. If you can, be the first person in the office and the last person to leave.

Resources:

Home Possible Loan Program

Book Recommendation:

Never Eat Alone by Keith Ferrazzi

Digital Resources

Easy Texting Software

Tweet This:

“Get off the couch. Get out from behind your computer, and go look at properties.” – Weston Harding

“When you make a mistake, you have something very big to learn.” – Weston Harding

Places to Grab a Bite:

Staropolska

Connect with Weston:

www.xplusrealestate.com

westonharding@xplusrealestate.com

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