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

podcast July 17, 2018

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