Multi-Family Unit Purchase Using The NACA Program + Become a LandLord!
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- Опубликовано: 5 сен 2024
- Hi everyone! I hope you enjoy the video. I hope that you find the video informative and helpful for you. If you have further questions, please let me know in the comment section below.
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Thank you for your testimony. I just completed the first steps with Naca. I am so excited for my journey.
Game changer! I'm literally going to do exactly what you said in this video! My sister had advised me a few years ago to do the same, but I just didn't know where to start. Now, I have my first NACA appointment this Friday. Gonna keep all of these things in mind. Thank you!
How has worked out for you now?
Great info, the NACA program is fantastic. I recommend to my clients often 🎉
I really appreicate this information. I knew there was a reason my realtor didn't reach out to me in a timely manner. God sent you to me.
Thank you so much for this info. I just signed up for my NACA class to start the program
I love how you got me hyped lol. Thank you for sharing your thoughts, ideas, and personal experience!! Good luck on your future endeavors!
Appreciate the video! Just starting the program and I'm definitely interested in new construction multifamily!
Good for you! I think right now that would definitely be a great investment for residual income in the long run
This is actually a great idea for an online course because most want to know more about it.
Absolutely!! It’s a great perk to being a NACA member
Just touching on one topic you mentioned. While section 8 paying the rent can give you a peace of mind that it will be paid, the down side is sometimes people destroy your homes because they don’t have to pay for it. That’s why my cousin said they’d never go that route again. It cost him much out of pocket.
I agree 100% with you. It is definitely a risk to take when deciding to rent your home to someone who is a voucher holder.
To your point, that's why its important to state within the Lease, that an Inspection will be conducted every 30 days. However, they'll get a 24hr notice.
Or rent to senior citizens on section 8
@@tyresebrinson8584 good idea
@@venaerichardson6633 Excellent Idea
I appreciate you, you answered so many questions .
im bout to try this but could you do a video on how to find multi family homes to purchase?
Hi Tosha, does NACA use the rental income to factor into how much mortgage payment I have to save each month? Or can I not use the rental income when qualifying for the payment?
it does. they allow 75% of the rent to be factored into the payment
Love this
You just answered so many questions for me☺️ New Subbie
Awesome! Welcome to the family! 🤗🤗
Thank you, for this video
Great Video! I'm going through the process currently. Very excited.
Thank you! Very exciting…hope all goes well!
Hello, I'm new to the channel! How do you usually find tenants to rent to as well as how do you screen potential tenants?
Hi there! Word of mouth, or ads. You can even rent to family or friends.
Screening for potential tenants mean you would follow the same steps as someone such as an apartment complex would. That means they have to be making a certain amount of income, no evictions, credit check etc.
How much money in your savings does naca require you to have in order to purchase a multi family?
Gm, i need your help with naca journey
Hi Tosha, thank you for your videos! Did you have to receive approval from NACA first before securing your new builder lot and putting up your earnest deposit? I am wondering if we were able to secure our lot first with the earnest, and use the time the house is being built to go through the program.
Hi Tiara, you are so welcome! Once I found my home , all documents needed to go through NACA, once I was given the green light, that’s when the contract with the builders was created and once everything was signed, we then gave our earnest deposit. It took about 3 & 1/2 weeks. We were still going through the program as our home was being built, but it has to be approved through NACA first.
built as in rebuilding or remoldeling?
@@SincerelyTosh
Hi! Do you know where you could get a multi unit landlord certificate?
i am looking for the same answers ugh
I bought a home through FHA.
My question is: can you buy a second home through NACA? If not, how can i, or, anyone get around it?
Unfortunately, no check out their Q & A here: www.naca.com/faq/general-and-eligibility/
transfer/sell your property to your LLC. as long as it's not in your name anymore, you can purchase a home through NACA
Does NACA allow you to be anonymous landlord. Like can you hire a management company?
That is a great question, I do not have the answer to that, but I will do some research and will get back with you
I am interested in learning more about this especially with section 8. How do we connect with you on this
Hi! Can you answer this specific question
Do you have to have 70k MFR before getting pre-Approval?
Do you have to have a large monthly income to get into this ?
I like to know more
How's it going 6 if us R trying to do this. Any suggestions on multiple landlords?
Does fHa loans applies to foreclosed properties?
I wonder where you live, I’m in California
Do you know where I can get the multi training course ?
Could you help me out .. I’m wanna do the same thing .. I would really appreciate it
Hello! With multifamily purchase, do you have to owner-occupy for the life of the loan...or just the 5 years as it is for single family?
With Multi Family units, I believe you will need to occupy the home for the life of the loan, or until the home is paid off. Now, I believe you can sell a multi family unit after living in the unit for 3 years like you would be able to do with a single family home.
@@SincerelyTosh If you buy a multi family, do you have to pay the full mortgage until you get tenants or do they give you a grace period?
@@ValenciaRose. yes, you are required to pay the mortgage. Once you get tenants, then they will pay your mortgage for you! 🙌🏾😀
Thank you for the great information, question ???? If I join the Naca program and got approved I’m I allowed to purchase a home in another state?
You are welcome! And yes! You can purchase in another state once you become NACA qualified. ☺️
@@SincerelyTosh thank you very much
🖐🖐🖐
Hey girl!! 👋🏾👋🏾
Does NACA work with all credit?
Absolutely! Credit score not considered.
@@SincerelyTosh Thank you so much .
@@irvincabarris3456 you’re welcome ☺️
👀
Hi Tosha, great video! I had one question. Let’s say I get a multiple family apartment (3 units or more) through NACA, do I have to stay at that apartment?? Thanks Tosha.
Yes you do. I believe naca requires you to be in that apartment for 5 years. A lot different from FHA
Hey there! Yes, for a minimum of 5 years. Thanks for watching! ☺️
Are you guys living for free or do you still have to come out of pocket monthly?
Now, why would you assume we were living for free, if we purchased a brand new home, and we are both working? 🤔
We did not purchase a multi family unit, we purchased a single family home, however a multi family unit is an option
I was told my NACA counselor that I needed to have the 20 percent of the down payment in my account not to use but to have it, so they know I can afford the multifamily. Has anyone been told this?
Yes, it’s called your reserves. It can be in the form of (401k , savings, investment accounts)