Hi! My name is Sean Uyehara. I'm an area manager with Geneva Financial, helping you finance your homes all across America. If this is the first time you're checking out my channel, make sure to subscribe and check the video descriptions for more tips on how to get your mortgage right. If you find these videos helpful, Geneva Financial is licensed in 48 States!
If that property has a pool being in Vegas you would be paying way more than 1200 a month more like 15 to 18 and being in a nice area with certain amenities that would be great investment but hoa fees are very high avoid that shit
The value of it is simple. If you don’t want to pay the buyers commission sure! Thats totally fine. However you better be okay with WAY less people viewing your home. You will have much more offers to choose from and more people will view ur home. Most buyers can’t afford a buyers agents commission so they will immediately filter out homes that require the buyer to pay it
He touched on it a bit but every mortgage company is different. One I am looking at allows you to use 75% of gross rents to help you qualify for the loan. So in that case you don’t have to qualify for the loan solely off your income. Just different examples out there! Thanks for the video.
Technically every company is different but when it comes to using gross rents they all can do that because it's a fannie/Freddie thing. Meaning we all have to abide by their rules as a mortgage company, it's just that many people don't even know how it works.
Great insight! FHA loans can be a game-changer for purchasing a 4-plex. Looking forward to learning the key details and truths about using them for multifamily investments! 🏠🔍
I'm concerned because many multi units that I've seen online say things like "you could always up the rent". But then you risk the person moving out ...🤔
Sean you had me at "I wouldn't right now pull money for better kitchen", you are the first one that kept it Real and I love it!!. Sean you're one of the good people in the business out here in these streets lol 😃 What's better for my husband is to do a cash out Refi., So for now we will wait and in the meantime take care of our Debit Ratio, LTV, Credit score so we can meet all requirements with no problems. Thank you so much for your honesty and help.☺
I can't believe Toll Brother's thought someone would pay over $3 mill for that penthouse. It is very nice, but no way near $3 mill. I know this video is from 3 years ago, but it's crazy people were getting hoodwinked into paying crazy prices for real estate during the pandemic. Now prices are going down and they are still too high. A market correction will happen soon. Prices are much higher than historically over a short period of time.
Cus nweys , my husb can’t catch up with our expenses . So why not refinance agein and pay offfy husb credit cards nd our 2 cars ? Or consider consumer proposals ?
We’re on our reverse mortgage started 2021! Which I don’t really like this reverse , it’s only my husb decided this nd when he tells me not even consulting me 😢 no choice but to sign .
Good information, but imo overly cynical. You are definitely correct that not all FHA fourplex deals are good deals. But it’s been all the buzz with these “influencers” for a reason. With the right property, buying a fourplex with an FHA loan is a great way for a new buyer to break into the market and start building wealth. Saying that only putting 3.5% down leaves you with a huge loan amount is right, but most of it is being outsourced to your tenants. Your whole video from the start is extremely pessimistic. Even though you may think first time home buyers need a reality check, they also deserve to hear an optimistic perspective towards real estate investing. Saying “that’s going to be hard for a lot of people, you’ve gotta be making pretty substantial money”, isn’t what I expect to hear from someone who wants to see others succeed. We already know it’s going to be hard, that’s why we’re on RU-vid looking for information to help us through our journey. I’m new to your channel and maybe you have other videos where you’re both realistic and positive, but if this is the first video someone watches. Definitely not a tone they’d want to be hearing regularly.
I’m a real estate agent here in Florida and I have two clients that have just under a 620 credit score what bank could I get them approved for a mortgage loan with
Hi Sara if they will be occupying the home, we can go as low as a 580 for financing, feel free to email me and I'd be happy to connect with you. My email is seanu@genevafi.com
Great question, no a HELOC is a line of credit based on the equity available in your home. It functions similar to a credit card. A cash out refinance would provide you a lump sum of your equity.
@@Marko.4.222 If you need help getting your financing in place we can put some options together for you, shoot me a text and we can connect 702.336.4980
I have just found your video. I wander if I could ask you. I did cash out refinancing last July 2021 with only 1.99% fixed rate for 15 yrs. Now, Im thinking of doing home equity loan vs cash out refinancing toget at least $130,000 to pay off credit cards and my 2 sons college tuition. My home value is double now from $575th to 1 mil. please tell me which loan should I take ? But, with high interest rate, I do not want to lose my current 1.99% rate. Thank you so much for this educational video . I only want to pay any loan for max of 15 yrs
Cher bro I was looking at different options and I thought about getting a cash out refinance loan to pay off my New Zealand mortgage $55,000,00 plus early repayments and using some of my equity of 40% witch is $190,000,00 so after paying off the old mortgage $55,000,00 plus and using the rest of the money buying a house in Australia and having a bit of extra cash out to pay for my family’s new adventure. So myself or a broker or someone from your team could help us with the paperwork and fax and details and times and dates. I would like to say hello to you and your team . 👍👋🙏
I'm looking at getting a home equity loan I owe no money on the house in the house but it's an old house that needs a lot of work would it be hard to get a home equity loan
Dude... wtf... you don't need to qualify for the entire rental payment for FHA underwriting. You can use the rental incomes of the other units in addition to your income, to qualify for payments. Extremely pessimistic video... $800 HOA.. why are we throwing curveballs into a video about a straight forward investment strategy. Bogus. Oh, and did you NOT mention utilizing 3-2-1 or 2-1 Temporary buydowns to improve cash flow. And 6.625%.. even 8 months ago, we were easily at 6% for FHA loans. I'm at 5.25% today. I don't appreciate this video, at all, as a real estate and mortgage broker
The bad sounds really bad.. car insurance, car registration, utilities… public transportation, crime. I appreciate your honesty.. I’ll have to think about the move…. Although I’m originally from Hawaii, we are priced out. However LV homes are beautiful there and priced well.
