Pros and Cons of House Hacking with NACA | Ryan Got The Bread Podcast

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Berkshire Hathaway Home Services Fox & Roach Mount Laurel
1025 Briggs Road, Suite 148
Mount Laurel, NJ 0805
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[@locsoflay6879]

Thanks for this video! Great !

[@RyanFagan_RealEstate]

Thx for watching and commenting!

[@baileyjohn5010]

This was a great discussion

[@RyanFagan_RealEstate]

Thx you!!

[@coachresa]

Ughhhhh So glad to come across this content!!! Def going to look into that BoA option in case the BS is too much.

[@RyanFagan_RealEstate]

💪🏽💪🏽💪🏽💪🏽appreciate you!

[@thegoreetruth1074]

Right! I’m like...I can get all the perks of NACA without having all these extreme stipulations and hoops like NACA? I need to know more about how to make this work!

[@coachresa]

@@thegoreetruth1074 i tried to look into it but couldn’t find much info on it. Let me know if you do!

[@RyanFagan_RealEstate]

NACA will drag you through the mud, I’ll ask Precious how you do it through BoA directly

[@thegoreetruth1074]

@@RyanFagan_RealEstate Thank you!

[@lonnieloren]

Ray Fagan this is exactly what I am attempting to do but finding a multi family in New Jersey in a decent community is almost impossible and this was before the pandemic. Now during the pandemic its unreal. I even had a NACA qualification expire while looking for a property.

[@RyanFagan_RealEstate]

This market is insane. It’s very difficult but we’ve closed 2 clients doing house hacks so far this year so it is possible. You have to be flexible on the property, it might not be ideal for you but it is a great springboard into real estate.

[@SouthernRedOnline]

It was so much truth in this video

[@RyanFagan_RealEstate]

Thx you

[@veronicaholmes8907]

Awesome content, any contact or social media for your guest? Interested in where I can find more info on the no money down Bank of America program

[@RyanFagan_RealEstate]

Instagram @preciousone86

[@converse48]

this is great! What’s the name of the area the duplex is in? Currently trying to do something similar in philly!

[@RyanFagan_RealEstate]

I think it was mount airy

[@gg8723]

but i don’t get how she plans on getting out of the duplex though? she has to live there through the life of the loan

[@RyanFagan_RealEstate]

“At the time of closing, the house purchased with the NACA mortgage must be the Member’s only home. After closing, the property must be the Member’s primary residence that he/she occupies. NACA takes out a lien on the home to ensure this requirement. This does not prevent any Member from selling their house, refinancing, or purchasing additional property after closing as long as they meet the occupancy requirement.”

[@prettykitty5416]

@@RyanFagan_RealEstateso even after 5 years you can’t rent it out and live in a different property? So for as long as you have the Naca mortgage (30 years) you can’t move unless you sell or refinance?

[@ashmoise3175]

Wow. That. Was. EYEOPENING.

[@RyanFagan_RealEstate]

YES Love to hear it!

[@renewilder6807]

What is the program through Bank of America

[@RyanFagan_RealEstate]

They have since changed it but BOA just released a new program with 0% down payment that we will be doing a live about this Sunday

[@sagegriot2455]

What's NACA?

[@RyanFagan_RealEstate]

It’s a non profit that facilitates loans through Bank of America with special incentives naca.com