Now is the time to start learning SELLER/CREATIVE FINANCING!!
@trevbader434
8 ай бұрын
This is wat I'm on looked into it today and it's right cuz it's not a commercial if ur living in it then it becomes a residential and it's basically like buying a single fam home
@Termileon
Жыл бұрын
Buy a House or Triple for 750k thats awesome the country where I live a 60m2 apartment cost 1.1mil
@robertduenas777
Жыл бұрын
Is there any tricks we can use in which we can have all units occupied but I can say “I live in one of the units” ? Like make a deal with the tenant for example? Thanks!
@ericbrown1708
Жыл бұрын
I ~think~ that any dwelling that has more than five units is considered commercial, which the FHA loan won't let you get. Also, I ~think~ that a four family dwelling is still considered residential, and the FHA loan does allow (and in fact requires) that you do occupy one of the units for one year. (Obviously not a professional, just some guy who understands math.)
@catladytrucker7608
Жыл бұрын
That is mortgage fraud, and yes they do check. It is just for a year, and then you can do whatever you want.
@eduardosarabia1991
Жыл бұрын
Copy and paste I like it
@nathanrhoden4694
4 ай бұрын
Fraud
@joeyertman
10 ай бұрын
I've tried this and it does not work. They will not allow. They won't even look at your approval or just say you have extra documents you never sent and keep you in limbo forever.
@808redneckify
Жыл бұрын
Would the FHA first-time home buyer program also qualify for this?
@glmakor
Жыл бұрын
Yes
@MrArrizon90
Жыл бұрын
can you do the same with a va loan?
@jorgesalazar818
Жыл бұрын
You sure can! Up to a 4 Plex! Even better than FHA.
@MrArrizon90
Жыл бұрын
@@jorgesalazar818 even in California? 😅
@jorgesalazar818
Жыл бұрын
@@MrArrizon90 yes, even in CA. VA loan is awesome, hopefully you can take advantage of it. Bought my first home with a VA loan..
@alberto.jaramillo
Жыл бұрын
I did exactly this, I make a hundred thousand dollars every month by doing NOTHING
@masonstephenson1332
Жыл бұрын
yea this is cap no way u make 1.2 mil a year just buy renting out units
@jakejake7162
Жыл бұрын
@@masonstephenson1332lol it’s a kid as a pfp they never even had their first job yet
@racquelechols5869
11 ай бұрын
@@masonstephenson1332 this is extremely common 🤣 he would have to have multiple properties..
@rafyortiz1994
9 ай бұрын
@@masonstephenson1332i mean, if you own alot of houses, then its possible
@Americansikkunt
8 ай бұрын
@@masonstephenson133240 units, $2000/month, 12 months…. $960,000 Idk if the original commenter is serious, but it’s not TOTALLY implausible
@tiger_06
10 ай бұрын
Sounds so easy but when I try it first thing lander ask for ur income
@JeremyLMarquez
Жыл бұрын
Get it girl! I'm looking for partners to buy units on going hmu
@NationalEMR
8 ай бұрын
I'm looking for a partner. Im going for long term holds on Apartments. Are you open to a discussion?
@yadalda7875
9 ай бұрын
easier said than done
@ericbrown1708
Жыл бұрын
ah.ack. ah. ohmigosh. i'm speechless. uh. ok. wow. first time viewer, was looking for info on the new FHA down payment assistance program (basically 0%down +closing) and found this. wow. guess what i'm about to do. :D Heh. I got a daughter with a husband and two kids. they live in oklahoma, but i bet they'd be willing to move into a multi-fam with me for low purchase price on part ownership of a big house that we can rent out our own units. in fact, that guy's a super handyman - he used to work for himself just fixing whatever people needed fixing! This just rules. I know this is old news by now, but super helpful in combination with the down payment thingy. Anyway, this vid got the proverbial like and subscribe, and I've been online longer than KZitem itself so that actually means something. :D Thanks!
@Kxifs
Жыл бұрын
How did it go ?
@ericbrown1708
Жыл бұрын
@@Kxifs Not time to buy yet. I saw the loan and down payment initiatives and got excited. Now I've stepped back just a little bit, and I finally agree that the real estate market as a whole is just about to crash. Locally, AirBnB (and other short term rentals) have been outlawed in Dallas. They have until the end of the year to keep renting, then they're not allowed. Because so many people bought houses within the last two years (when interest rates were so low,) home values have begun to drop just a bit while interest rates have skyrocketed, meaning that basically ~everyone~ is upsidedown on their home mortgage. Combine ~that~ with the knowledge that STR's (Short Term Rentals) will be illegal by the end of the year (at least in Dallas,) and you have a buyer's market waiting to happen. In a couple of months, these AirBnB owners in Dallas will be desparate to sell their "investments." Home prices, nationally speaking, are still on the way up, probably due to more QE and the ease of buying a new home. In Dallas (among other Texas cities,) prices have begun to drop, but it'll get bad in the next couple of months. Real bad. Both Warren Buffet and Robert Kiyosaki (two of the greatest market masterminds of the 21 century) know for a fact that we're about to enter a time that is far worse than the "Great Depression," and that it will last for far longer. That means that as long as I keep my credit options open and don't jump on the first deal I see, if I can stand to have just a little more patience, there should be some incredible deals happening, at least in Dallas. I think what I'll do right now is work on another idea I'm handling to design and build chatbots trained on a company's data. That'll give me some startup cash, and I wait. Not long, but as long as I can stand to be patient, I should be able to move into a mansion (multifamily dwelling,) and rent out the extra space. The FHA loan will allow me to count ~expected~ rent in with the calculated payment, so I can qualify for a larger house than normal. This is banking on the idea that I can keep renters, but I'm thinking that a weekly or bi-weekly stay will be alright for the law and also keep my renters paying for my mortgage - probably can make that one work. I guess we'll see...
@garrettfisho7310
Жыл бұрын
@@ericbrown1708Wow, This was a amazing read. Thanks for the information!
@gamerbeast7831
11 ай бұрын
U def want nothing to do with FHA, VA or any low down payment or even traditional bank loans with todays interest rates
@proffesorsn3ddy152
Жыл бұрын
Would FHA loan qualify for a complex of 5 in New Mexico?
@Drizzymicro
Жыл бұрын
FHA is 4 unit multi family Max.
@catladytrucker7608
Жыл бұрын
No. 5 units and above is considered commercial and doesn't qualify for what she is talking about in this video.
@Senior4u2c
Жыл бұрын
Trying to reach you had a few questions what's your email?
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