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Gen Z is doing something no other generation has done house hacking.
Younger buyers are willing to take on fixer-uppers, said Daniel Rivera, owner ofProactive Property Management.
Ive seen Gen Z transform homes for under $20,000, adding $50,000-plus in value.
Its a tool that Gen Zers have harnessed so you can become homebuyers.
Crowdfunding down payments through friends/family or even strangers on sites like GoFundMe is also common, Greiner said.
People see the benefit of helping a young person become a homeowner.
In return, donors get small gifts or a chance to invest in the property.
Pooling funds withfriends or familyto invest in rental properties is popular, Rivera said.
Each pays below market rent, building equity, then sells and splits the profits.
Crowdfunding down payments through social media in exchange forsmall gifts or investment opportunitiesis also common.
According to Greiner, Gen Zers use apps to find homes under list price in up-and-coming neighborhoods.
Buying before an area fully gentrifies lets them lock in a lower cost basis.
Withcreativity and hard work, Gen Z are overcoming affordability challenges.
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