How a 41-year-old ‘house hacker’ built an $8 million real-estate portfolio that would let him retire now — if he wanted to
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Mike Hills is the vice president of investment brokerage at Atlas Real Estate, a property-management company based in Denver, and has been with the company for seven years.
But he’s been a real estate investor for almost three times as long.
Hills started out 19 years ago when he was about three months out of college. He bought his first house with a 3.5% down Federal Housing Administration loan and a $6,800 down payment that he borrowed from his mom. He still owns that house, alongside a condo, townhouse, duplex, quadplex, apartment, trailer park, and eight single-family homes.
Hills, who has been building an expansive portfolio since the early 2000s, credits his success to “house hacking,” a popular investment strategy used by owners of multifamily rental properties in which an investor lives in one of their rental units while collecting rent from the others.