First home Quote by Scott McGillivray
“In my first home that I actually purchased, I built this nice little basement apartment, I moved into it, and I rented out the whole house upstairs. That allowed me to live there for free - because that's all I could afford.”
About This Quote
Source Book: Real Estate Investing for Beginners, 2015
The author bought a house, lived in the basement, and rented the upstairs to cover costs, effectively living rent‑free through creative property use.
In simple terms: Living rent‑free by renting part of your own home.
Key Takeaway
Use part of your property to offset living expenses.
Themes
real estate
financial creativity
homeownership
budgeting
Mood
practical
motivational
Type
advice
inspirational
When to use this quote
- first‑time homebuyers
- investment property
- budget constraints
Key Concepts
cash flow
asset leveraging
Questions to Reflect On
- How can you apply similar tactics to your housing?
- What risks does this approach entail?
A Different Perspective
This strategy depends on market demand and property suitability.
