Just a recommendation: there should be more episodes about how to prepare for becoming a landlord. Are you indeed ready to be a landlord, are you ready for all those horrible stories because of the tenants. Compared with purchasing it's much more complicated and difficult to adjust to become a landlord.
If someone is only putting 3.5 or 5% down on a rental property, there is virtually no way they can cover the mortgage, taxes, utilities, etc in a region worth investing in. Most people cannot afford to buy a house, convert it to a rental, and lose money when they move, let alone three times as Christian describes.
I have spoken to a loan officer about moving out of a home and buying a new one and seems like doing this will be scrutinized. Sounds like they don’t like/want to see you owning a home and buying another with the intent to rent out the old home. Can you speak on this? I’ve seen other mention this as well. They said they want to see the current home renter first or to have a lease- if for there to be more space in the new home. Has guidance/approval for serial house hacking changed?
I’ve had a similar conversation with a lender. They want proof that I’ve received 12 months of rental income from my current primary residence before they qualify me for my next primary residence. I don’t know how that supposed to work 🤷♀️
Continue to explain loans this way: I would love to see you guys help someone with their financial method for their first property. I would love to be one lol. Love the show!
Right, but if you don't live in the property, I was told it's 20% for single family and 25% for a multi family. When you have kids, it's difficult to house hack due to school districts, stability ect....
I am planning to buy a 3-bedroom house. This will be my first house and I plan to live in one room and rent the other two rooms. So, should I subtract 0.75-1 from the rates shown on the Freddiemac website? Or are these rates already for the primary residents?
Depends on the price of the first home in your entitlement that is remaining I have owned two fourplexes at the same time with a VA home loan period but that was when prices were lower and I have remaining entitlement
Most places its up to 750k. So basically every year you can buy a new home untill you have reached that limit. The strategy is to refinance those loans getting your va loan money back. Rinse and repeat. Hope this makes sence. Im typing fast
They're giving you free info, great info. What's wrong with them plugging in their business. They said it at the start that it was info you might already know? You Should've changed to another video if you a seasoned investor. They have never said that they are on RUclips to not make money.
I'm not seasoned and my opinion is my opinion you must be a employee of them I've tried to do business with them everyone has a different experience you probably never contacted them
@@andrehouston8114 nope never tried contacting them bc their not in my area. I probably would if they were. But I dont mind them promoting their business. It's very rare that a youtuber is not promoting a business nowadays. RUclips is a form of self promotion, eyeballs=$ so they take advantage of it. I just enjoy all the free content that is offered.
Just a recommendation: there should be more episodes about how to prepare for becoming a landlord. Are you indeed ready to be a landlord, are you ready for all those horrible stories because of the tenants. Compared with purchasing it's much more complicated and difficult to adjust to become a landlord.
4th bucket for loans is commercial. You can get them for investment properties. Like all loans they have advantages and disadvantages.
If someone is only putting 3.5 or 5% down on a rental property, there is virtually no way they can cover the mortgage, taxes, utilities, etc in a region worth investing in.
Most people cannot afford to buy a house, convert it to a rental, and lose money when they move, let alone three times as Christian describes.
I have spoken to a loan officer about moving out of a home and buying a new one and seems like doing this will be scrutinized. Sounds like they don’t like/want to see you owning a home and buying another with the intent to rent out the old home. Can you speak on this? I’ve seen other mention this as well.
They said they want to see the current home renter first or to have a lease- if for there to be more space in the new home. Has guidance/approval for serial house hacking changed?
I’ve had a similar conversation with a lender. They want proof that I’ve received 12 months of rental income from my current primary residence before they qualify me for my next primary residence. I don’t know how that supposed to work 🤷♀️
WTF....GREAT INFO !! CRAZY THIS INFO IS FREEEEE!!! TY SO MUCH4💡💡💡💡💡💡💡💡💡💡💡💡
I hate when people try and say you can put 5% down that doesn’t help someone who just bought a primary and wants to buy a rental after
Wow ....I'm in the same boat ...I want to buy a duplex but I just got my first home..
What you situation? Did you find any new ways ?
Skip to about 2:55 for beginning of video
Continue to explain loans this way: I would love to see you guys help someone with their financial method for their first property. I would love to be one lol. Love the show!
Another really really Goode one..thank you..another barn burner..!!
Ok, I am LOVING this beginning!
I appreciate you explaining the current loans available. Love the content.
Right, but if you don't live in the property, I was told it's 20% for single family and 25% for a multi family. When you have kids, it's difficult to house hack due to school districts, stability ect....
So what if I want to stay in my primary residence? Could my spouse get her own primary residence if she is not on the loan for our primary now?
Yes, she can, if her income supports it
Love the info on this series, not a fan of the intro's.
I am planning to buy a 3-bedroom house. This will be my first house and I plan to live in one room and rent the other two rooms. So, should I subtract 0.75-1 from the rates shown on the Freddiemac website? Or are these rates already for the primary residents?
Your podcast on Spotify isn't playing
💯💯💯
DAVID YOU STOLE MY SHIRT
Great VA data/info
How many VA loans can you have at once?
Depends on the price of the first home in your entitlement that is remaining I have owned two fourplexes at the same time with a VA home loan period but that was when prices were lower and I have remaining entitlement
Most places its up to 750k. So basically every year you can buy a new home untill you have reached that limit. The strategy is to refinance those loans getting your va loan money back. Rinse and repeat. Hope this makes sence. Im typing fast
Just another ad for this guys brokerage
Exactly nothing but promo
It’s great content! Who cares if it is an ad. Get over it!!
They're giving you free info, great info. What's wrong with them plugging in their business. They said it at the start that it was info you might already know? You Should've changed to another video if you a seasoned investor. They have never said that they are on RUclips to not make money.
I'm not seasoned and my opinion is my opinion you must be a employee of them I've tried to do business with them everyone has a different experience you probably never contacted them
@@andrehouston8114 nope never tried contacting them bc their not in my area. I probably would if they were. But I dont mind them promoting their business. It's very rare that a youtuber is not promoting a business nowadays. RUclips is a form of self promotion, eyeballs=$ so they take advantage of it. I just enjoy all the free content that is offered.
FOLIAGE