Something Ive learned going through the process in Texas, is to make sure the property is zoned as Multifamily. A 3-4 unit property zoned as residential wont work with insurances since its a huge risk.
Hey, isn't the self-sufficiency test kind of similar to the loan qualifying process for commercial real estate? meaning lenders care more about how much money the property is producing as opposed to the financial history of the person asking for a loan?
I'm interested in the FHA multifamily construction loan, is it still 3.5% down? Utilizing both my pay and the potential rental income? I have experience with airbnbs.
Everything, and I mean everything in my city and within 40 miles is at the peak price its ever been at in history. I cannot fathom how people are buying right now
That is correct out-of-state for an areas of California that aren't as highly priced. You could definitely make this work. But now with Fannie Mae, you don't necessarily need FHA.
I currently have a single family and a fourplex under VA loan. Both properties are fully leased. Can I still get an FHA loan to get into another property? I haven’t used FHA before.
please help me,😢I have a problem;I always get caught in the middle between the buyer and the seller. "The seller says they won’t provide the financial information to the buyer without receiving an LOI, while the buyer says they won’t submit an LOI without first seeing the financial information. Why isn’t the seller satisfied with just a POF and an NDA? The buyer has the right to review the property’s details before submitting an LOI.
As a real estate broker, we do provide financial information to incentivize a buyer to submit an offer. The majority of the due diligence leases, profit, and losses in additional verification will come while in escrow.
Great to see updates on multifamily real estate trends! 📈 If you're looking for standout opportunities in this space, I’d be thrilled to share some insights that might be exactly what you're looking for. No strings attached just valuable info on unique investment options.
What about in Malibu? Wouldn’t it work there? Thinking of FHA construction loan on 3 unit. Single family with 3/2, one ADU with 1/1 and another ADU 2/1
Thank you so much for this. I've been thinking of purchasing a multi-family property and I'm currently unemployed. I've read the best finance book(s) from Robert T. Kiyosaki and I've learned that you can use 100% debt to create money from thin air. I am really hoping I could quality for a FHA loan and purchase a multi-family property with almost 0 income (self employed doing side gigs, but not much money coming in.) I am still learning step by step! I am really liking what you are teaching here. Thank you again, and if you reply to my comment, would love to see what your feedback would be!
I'm definitely a fan of rich dad, poor dad. And lenders will require the borrowers qualify for my income perspective. I do suggest that you speak with a lender to see how close you might be to qualify.
are you able to provide any information on VA multifamily loans. Fortunately I don't require PMI and there are no finance caps from the government side just the lender side. Also no downpayment requirement makes it even sweeter. Any advice here or direction on best lenders for VA backed multifamily unit purchase?
Question/situation for you: I’m interested in a quad and my cousin wants to buy it with me so we’d occupy two units and rent the other two. (1) could each get their own loan for half the property, (2) is the property assessed as a quad overall with the self sufficiency test or considered a duplex for each of us since we’re both half owners?
Thank you for reaching out with the new fan. I'm 5% percent down you no longer have to meet the self-sufficiency test. But to answer your question you could buy a 4 Plex with your family member. Check out our website. Send us a message. Will be glad to help you or direct you to the right professional in your area.
Single-family homes and condominiums are still a hot market, but smaller apartment buildings are moving slower meaning that a seller would definitely consider an FHA borrower.
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I learned a lot from you guys, and I live in Souther California trying to buy my first property but I am leaning towards multifamily homes. Can you guys provide my your office number to get ahold of you guys?
Hello, thank you for the feedback. I'm glad you have enjoyed learning from our channel. We certainly enjoy teaching. Check out our website to get our contact information. www.sageREGroup.com
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Something Ive learned going through the process in Texas, is to make sure the property is zoned as Multifamily.
A 3-4 unit property zoned as residential wont work with insurances since its a huge risk.
Thank you for the calculator !!
You are so welcome!
Hey, isn't the self-sufficiency test kind of similar to the loan qualifying process for commercial real estate? meaning lenders care more about how much money the property is producing as opposed to the financial history of the person asking for a loan?
It is similar not exactly the same. Meaning Commercial cares about debt coverage ratio meeting the 1.20. Thanks for commenting.
Your videos are so informative. Please keep sharing your knowledge! Thank you
Thank you! Will do!
Good video, but fha is not only for first time homebuyers and you can get a fha loan more than once.
Correct
Ya can but if you're like me and don't have alot of reserves. You will run into an issue on the next one if not that one possibly the 3rd property
@@toxicthesniper8264its called own a business that generates revenue like food business first
I'm interested in the FHA multifamily construction loan, is it still 3.5% down? Utilizing both my pay and the potential rental income? I have experience with airbnbs.
Thanks for the information! Merry Christmas gentlemen!
Thanks for watching and commenting. Merry Christmas 🎄
Thank you for the information
This was very great information. I took notes and I will be successful in my process.
Thank you for commenting. We wish you the very best. Let us know what other type of content you would like to see.
Nothing better than investing in Multifamily Real Estate. I have bought dozens of properties by adding value and trading up.
Thank you, Jason. We should connect soon.
Thank you for the valuable information. I’ve watched so many videos all saying a bunch of nothings lol but this was very helpful.
Glad it was helpful! Thanks for watching
Everything, and I mean everything in my city and within 40 miles is at the peak price its ever been at in history. I cannot fathom how people are buying right now
Could you put to loans together like FHA + a DSCR-type loan?
No, I've not heard of that.
When i get a FHA loan, do i have to pay extra for insurance since i didn't reach the 20% down payment?
Exactly the information I was seeking! Thanks for the information.
Glad it was helpful!
Outside of California passing the self-sufficiency test would probably be a lot easier since properties are so much cheaper right?
That is correct out-of-state for an areas of California that aren't as highly priced. You could definitely make this work. But now with Fannie Mae, you don't necessarily need FHA.
I currently have a single family and a fourplex under VA loan. Both properties are fully leased. Can I still get an FHA loan to get into another property? I haven’t used FHA before.
How do you access your FHA calculator?
It's on our website under resources.
please help me,😢I have a problem;I always get caught in the middle between the buyer and the seller.
"The seller says they won’t provide the financial information to the buyer without receiving an LOI, while the buyer says they won’t submit an LOI without first seeing the financial information. Why isn’t the seller satisfied with just a POF and an NDA? The buyer has the right to review the property’s details before submitting an LOI.
As a real estate broker, we do provide financial information to incentivize a buyer to submit an offer. The majority of the due diligence leases, profit, and losses in additional verification will come while in escrow.
This is true just remember if you have the money in your capable 10 to 20% you don't have to pay some insurance
Great to see updates on multifamily real estate trends! 📈 If you're looking for standout opportunities in this space, I’d be thrilled to share some insights that might be exactly what you're looking for. No strings attached just valuable info on unique investment options.
I'll check it out!
4 units, would that be qualified as 2 duplexes and a 3 bedroom house all on the same property?
I found a 9 plex in the Midwest for fairly cheap but I would need a loan. Can I get an FHA or is that too many units ?
You would need a Commercial Loan for anything above 4 units
What about in Malibu? Wouldn’t it work there? Thinking of FHA construction loan on 3 unit. Single family with 3/2, one ADU with 1/1 and another ADU 2/1
Malibu is a higher price point but there is definite opportunity there.
Thank you so much for this. I've been thinking of purchasing a multi-family property and I'm currently unemployed. I've read the best finance book(s) from Robert T. Kiyosaki and I've learned that you can use 100% debt to create money from thin air. I am really hoping I could quality for a FHA loan and purchase a multi-family property with almost 0 income (self employed doing side gigs, but not much money coming in.) I am still learning step by step! I am really liking what you are teaching here. Thank you again, and if you reply to my comment, would love to see what your feedback would be!
I'm definitely a fan of rich dad, poor dad. And lenders will require the borrowers qualify for my income perspective. I do suggest that you speak with a lender to see how close you might be to qualify.
@@SageRealEstate Sweet! Thanks!!
are you able to provide any information on VA multifamily loans. Fortunately I don't require PMI and there are no finance caps from the government side just the lender side. Also no downpayment requirement makes it even sweeter. Any advice here or direction on best lenders for VA backed multifamily unit purchase?
Question/situation for you: I’m interested in a quad and my cousin wants to buy it with me so we’d occupy two units and rent the other two. (1) could each get their own loan for half the property, (2) is the property assessed as a quad overall with the self sufficiency test or considered a duplex for each of us since we’re both half owners?
Thank you for reaching out with the new fan. I'm 5% percent down you no longer have to meet the self-sufficiency test. But to answer your question you could buy a 4 Plex with your family member. Check out our website. Send us a message. Will be glad to help you or direct you to the right professional in your area.
I litterly have that issue 4 units 850 i need help what do i do next
Hello, what exactly are you having issues with. We like to see if we can help.
In this hot market alot of sellers would decline an FHA loan since it takes longer. Btw im refering to the nyc/nj area.
Single-family homes and condominiums are still a hot market, but smaller apartment buildings are moving slower meaning that a seller would definitely consider an FHA borrower.
Any recommendation for a lender in FL?
Bought a duplex and got foreclosed on :(
Sorry to hear that how did this happen?
If you dont buy it using FHA, is the 75% not applicable?
🙏🏾🤘🏾 thanks for the information
You're welcome !
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
High leverage dangerous in these times….
Can you explain what you mean by high leverage?
Love the info but Cody’s thumbs are freaking me out😅
Gotcha we'll ask him to try to keep his hands off camera. 📸
Can u find a 10k market rent property for 850k😂
For me it made no sense. With conventional is i did 3% down and when 20% is paid off than you don’t pay anymore mortgage insurance . SO FHA IS STUPID
We've been able to successfully utilize FHA financing. And we strongly recommend it for those that need it.
I learned a lot from you guys, and I live in Souther California trying to buy my first property but I am leaning towards multifamily homes. Can you guys provide my your office number to get ahold of you guys?
Hello, thank you for the feedback. I'm glad you have enjoyed learning from our channel. We certainly enjoy teaching. Check out our website to get our contact information. www.sageREGroup.com