This is GOLD guys! I just made a video about this but you can buy a 2-4 unit building Conventional with 5% down and avoid the Self sufficiency test that FHA has for 3-4 units, so now is a good time to look into 2-4 unit opportunities and live for free with that rental income. Definitely earned a sub and like from me 💯👍
The roadmap you’ve laid out is pure gold for anyone ready to take that leap. From the essential steps to those pro tips that only come from seasoned investors, this is the kind of insight that turns dreams into reality. The key here is action-taking those first steps armed with the knowledge and guidance shared in this post. #jamesmfinvest #multifamilyinvesting #scdctexas
Have we seen veterans being able to take advantage of benefits if they already have a very good rate on their home? Looking to purchase our first mfp but not sure how to best approach the entry fees. And if there is a way to avoid cash down.
What if you don’t have the money to put down payment or start having some money to put down im 31 years old I wanna start doing something in my life where I wanna challenge myself I feel like this can be my life can you guys help me out
To me depending on your age. I think cash flow is more important, especially now the way things are costing so much more. Money you need that cash then appreciation
Question, we want to house hack next year. So buy a multi family, 5% down, live in one for a year then rent it out. If we do this process again the following year, wouldn’t they take into consideration the mortgage of the multi family we already have? Wouldn’t that affect how much they would approve us for?
In past videos, you mentioned referrals for brokers in other markets that make sense for younger investors. What markets do you have that we can check out? Detroit? Also, are you guys seeing a price correction in your market?
Can you do a detailed example of single family ,duplex and fourplex loan amounts people get approved for and what they would need to make for each ? I’m currently planning on looking in the Berkeley/Oakland area for a fourplex myself so this video would educate me a lot .Thanks!
@@SageRealEstate Thanks! From watching your videos I know duplex’s are in a different category than a fourplex for getting approved. It’s pricy in the area I’m looking at, but I’m thinking of $900,000 or $1,000,000 to make the numbers easier. Duplex would be around $700,000. Would be 5% down. Maybe do two different incomes as well like $60,000k and a higher one . Plan on renting the unit(s) for $2000 each at low estimate. Thanks again
I’m in the process of buying my third property. But I really want to buy a 4plex… but here in my area ( San Bernardino county) the 4plex being for sale right now is 1.3M . How can I buy it? It’s too expensive. I need to save more for down payment. 😊
$1.3M might be on the higher range for that area. I'm certain there are lower values for you to consider. Let us know and we can help you find and negotiate your next investment.
Hello I am an older veteran in PA geting close to retirement like to use my VA loan for 1st time for multi units do you have anyone I can link up with.
Hi Larry , would you mind emailing us and letting us know specifically in what area you're looking to purchase so that we can make the right referral connection.
Be careful if you're going to airbnb and make sure that you are allowed to do it if you're under rank control. I don't believe you can in the city of los angeles Remember when you build an ADU you're property taxes? I believe go up to, so be prepared for that. And there's a lot of other things they hit you with so. Do a lottery search don' just go and depend on a builder
The first thing you want to do is find similar properties other four Plexes in your area. It's important that you work with someone who specializes in multifamily property and they could help you calculate the cap rate on past sales determine if yours is in the same condition with the same income and then possibly apply that cap rate from the market to your specific property that will give you a value. Now remember that's just one metric there are other metrics that will need to be looked at.