Using this loan, can a multifamily property, 2-4 units, be purchased with an LLC? I would still use it as a primary residence for at least one year. I just wouldn’t want the tenants to know I own it.
Can you please record a video about buying a duplex with a conventional loan with 5% downpayment vs FHA loan with 5% downpayment? Also, can you please explain the difference between townhouse vs multi-family house and whether the type of house has any impact on getting a FHA or Conventional loan?
Juan, congratulations! This content is incredibly valuable! I have loved how you have mentioned essentially the most important points that new investors need to learn about! I have a question, please. How advisable is it to get an LLC and as such buy your first multifamily property? I’m planning to purchase my first plex as my very first real estate investment and I’m unsure if I should do it under my name or an LLC. Also, does the FM loan apply to LLCs? I’m sure I could look that one up, but these are my questions at the moment, right after watching this super helpful video. Thank you in advance!! 😊
The banks is going to require that you get the loan under your name, you could take title in a LLC but I don't think that's necessary. I wouldn't rush to get a LLC but I would rush to buy your first investment.
Hello 👋 From Phoebe our trusted lender : 3 months PITIA reserves required on 3-4 unit properties Also, somewhat rare but on a manual underwrite, 1-3 months reserves may be needed on SFR or two units.
Talk about how much your your mortgage will be with this and how rent is at all time which isn’t good for new investors that would want to buy low for max profit
Well, this program only works if you're going to live in one of the 4 Plex units. Which could be the case and is possible. You would then just need 5% down.
I live in Nashville, TN. I would like to take advantage of this program. Could you please refer me to a multi family property mortgage specialist? Thank you so much.
Who needs Adderall when you have the adrenaline rush of a RUclips channel. 🤣 seriously, thanks for the comment and we hope you find our content, engaging and educational.
@@SageRealEstate Exactly! So we have to stop making it seem like it is easy. Most people don't make enough to save. Over 60% of Americans are living paycheck to paycheck. Which is why I said most. We all understand what risk is involved and how much it will pay off but most will never be able to get there.
People have been waiting for the recession hasn't happened. People have been waiting for foreclosures, they never came. The Real Estate market is strong and there's no reason to believe in a market crash. 💥 Thank you for following us and commenting. Much appreciated.
Using this loan, can a multifamily property, 2-4 units, be purchased with an LLC? I would still use it as a primary residence for at least one year. I just wouldn’t want the tenants to know I own it.
No, They do not allow to have deed under LLC
Can you please record a video about buying a duplex with a conventional loan with 5% downpayment vs FHA loan with 5% downpayment? Also, can you please explain the difference between townhouse vs multi-family house and whether the type of house has any impact on getting a FHA or Conventional loan?
OMG!!! THIS IS SO VALUABLE!! THANK YOU SOOOOO MUCH!!!!!
Thank you for your support. We promise to deliver even more valuable information in 2025.
Can you use bank statements as income to qualify for this type of loan?
Nice video and the new guideline is real 👍🏼 Great way to make the monthly housing expense lower and great asset class to own long term👍🏼
Thank you for watching and commenting.
Hello thank you for the upload! What if I already own a property under an fha? Would I still be eligible or would I need to be a first time buyer!
You can still get a Fannie Mae loan so long as you live in one of the units.
Juan, congratulations! This content is incredibly valuable! I have loved how you have mentioned essentially the most important points that new investors need to learn about!
I have a question, please. How advisable is it to get an LLC and as such buy your first multifamily property? I’m planning to purchase my first plex as my very first real estate investment and I’m unsure if I should do it under my name or an LLC. Also, does the FM loan apply to LLCs? I’m sure I could look that one up, but these are my questions at the moment, right after watching this super helpful video. Thank you in advance!! 😊
The banks is going to require that you get the loan under your name, you could take title in a LLC but I don't think that's necessary. I wouldn't rush to get a LLC but I would rush to buy your first investment.
@@SageRealEstateThanks for the advice!
Thank you for the information
You bet!
how long do you need to reside in the property as "owner Occupied"
One year
Austin Texas! Point in the right direction?! Much appreciated
Hello, please go to www.sageregroup.com/youtube
Can it be new construction can you build it brand new from scratch?
Must be built already.
Interesting, however, for how long does the investor have to live in the multi family property with this new program?
One year. As the saying goes days are slow years are fast.
Hi, do you have to have 6 months mortgage in an escrow for the 3.5 fha loan like you do for the fannie mae 5% loan? Thank you
Hello 👋
From Phoebe our trusted lender : 3 months PITIA reserves required on 3-4 unit properties
Also, somewhat rare but on a manual underwrite, 1-3 months reserves may be needed on SFR or two units.
Can I have more info,or a link to check requirements and rules,need to know if I’m eligible,thanks
does this apply for all over ontario? or just select regions?
Ontario California? Yes
Talk about how much your your mortgage will be with this and how rent is at all time which isn’t good for new investors that would want to buy low for max profit
Max profits come with time, not on day one.
Hello I have 2 houses but I'm ready for quadruplex how much percent I need to qualify
Well, this program only works if you're going to live in one of the 4 Plex units. Which could be the case and is possible. You would then just need 5% down.
You said the program start November but 2023 or 2024???
Hi, the program started November 18th 2023. So it will continue through 2024 and beyond.
2023
I live in Nashville, TN. I would like to take advantage of this program. Could you please refer me to a multi family property mortgage specialist? Thank you so much.
Email us please.
Hello, contact our friend for loans in your area. Mario is a savvy multifamily investor and experienced lender. Licensed in TN:)
Mario@marioloans.com
Excellent Video. I know your are located in California, can you help me in my area? I live in Hawaii
Please reach out to us via our website. We'd love to see how we could help you. www.sageregroup.com/youtube
Hello how I can contact your company ???I need an advice from expertise people.like you thank u
Email us please. Check out our website
www.SageReGroup.com
Hey, I am in Texas. I guess you guys are in California. But can I call you?
Yes, of course you could call us. Let us know how we could help.
Let’s take less adderall, and focus on what’s being actually said.
Who needs Adderall when you have the adrenaline rush of a RUclips channel. 🤣 seriously, thanks for the comment and we hope you find our content, engaging and educational.
Omg. Nate what a disrespectful comment when they are helping us. Ungrateful people you are.
So basically it's still out of reach for most Americans Lol
Nothing is ever easy, saving up and taking the risk on this type of investment will pay off in the long run.
@@SageRealEstate Exactly! So we have to stop making it seem like it is easy. Most people don't make enough to save. Over 60% of Americans are living paycheck to paycheck. Which is why I said most. We all understand what risk is involved and how much it will pay off but most will never be able to get there.
Is not impossible to those who try “path for business”.
This is the point where they start sucking in unsophisticated investors prior to the crash.
People have been waiting for the recession hasn't happened. People have been waiting for foreclosures, they never came. The Real Estate market is strong and there's no reason to believe in a market crash. 💥
Thank you for following us and commenting. Much appreciated.