Using this loan, can a multifamily property, 2-4 units, be purchased with an LLC? I would still use it as a primary residence for at least one year. I just wouldn’t want the tenants to know I own it.
Juan, congratulations! This content is incredibly valuable! I have loved how you have mentioned essentially the most important points that new investors need to learn about! I have a question, please. How advisable is it to get an LLC and as such buy your first multifamily property? I’m planning to purchase my first plex as my very first real estate investment and I’m unsure if I should do it under my name or an LLC. Also, does the FM loan apply to LLCs? I’m sure I could look that one up, but these are my questions at the moment, right after watching this super helpful video. Thank you in advance!! 😊
The banks is going to require that you get the loan under your name, you could take title in a LLC but I don't think that's necessary. I wouldn't rush to get a LLC but I would rush to buy your first investment.
Can you please record a video about buying a duplex with a conventional loan with 5% downpayment vs FHA loan with 5% downpayment? Also, can you please explain the difference between townhouse vs multi-family house and whether the type of house has any impact on getting a FHA or Conventional loan?
Who needs Adderall when you have the adrenaline rush of a RU-vid channel. 🤣 seriously, thanks for the comment and we hope you find our content, engaging and educational.
Talk about how much your your mortgage will be with this and how rent is at all time which isn’t good for new investors that would want to buy low for max profit
Hello 👋 From Phoebe our trusted lender : 3 months PITIA reserves required on 3-4 unit properties Also, somewhat rare but on a manual underwrite, 1-3 months reserves may be needed on SFR or two units.
Well, this program only works if you're going to live in one of the 4 Plex units. Which could be the case and is possible. You would then just need 5% down.
I live in Nashville, TN. I would like to take advantage of this program. Could you please refer me to a multi family property mortgage specialist? Thank you so much.
@@SageRealEstate Exactly! So we have to stop making it seem like it is easy. Most people don't make enough to save. Over 60% of Americans are living paycheck to paycheck. Which is why I said most. We all understand what risk is involved and how much it will pay off but most will never be able to get there.
People have been waiting for the recession hasn't happened. People have been waiting for foreclosures, they never came. The Real Estate market is strong and there's no reason to believe in a market crash. 💥 Thank you for following us and commenting. Much appreciated.
