•

Fannie Mae goes easy on ’em pockets!

Fannie Mae, the popular American mortgage loan company, has tuned the strings of their harp and played a sweet melody for investors. They’ve cut down the mandatory down payment on some properties.

•

Cuevas investors say “Thank You, Fannie.”

This reduction was music to the ears of Alejandro and Jessica Cuevas. The duo, well immersed in the real estate world, saw this as a ‘go-ahead’ and jumped in to grab some properties in Chicago.

•

Property hacking, not computer hacking folks!

But the Cuevas’ were not just snatching properties for investment – they had ‘property hacking’ on their minds. In ‘reality-show’ terms, they have decided to live in one part of the investment property and rent out the rest, making the tenants pay their mortgage. Talk about living for free!

•

Chicago – New real estate nirvana?

The Cuevas’ investment choice of Chicago suggests that the Windy City might just be the next big thing in the property market. Watch out for the popcorn sellers, because it sounds like it’s showtime in Chicago real estate!

Hot Take

As Fannie Mae eases up on the down payment limits like a dancer doing the lambada, a legion of property ‘hack-tivists’ have been set loose, led by the cue-balling Cuevas’. With a strategy that’s as ingenious as downloading more RAM onto your computer, they’re practically living rent-free by having their tenants handle their mortgage payments. And who wouldn’t want to live in the heart of Chicago, the city known for more than just its deep-dish pizzas and fierce winds? As the curtains rise, it seems like the perfect time for spectators to sit back, grab a hot dog (Chicago-style, of course), and watch the thrilling spectacle of the Chicago real estate thriving. All aboard the real estate express; next stop – Chicago!

Original article: https://www.inman.com/2023/12/26/house-hacking-spiked-amid-covid-in-2024-it-will-be-a-household-name/