DO NOT Buy a Multi Family Property Without THIS
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- čas přidán 23. 07. 2024
- In this video, I'm sharing with you one of the biggest mistakes people make when investing in multi family properties.
Before you invest in a multi family property, make sure you know how to know if your property is going to cashflow using the self sufficiency test. This is one of the tools you can use when it comes to multi family properties and generating positive income.
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Goals I plan to retire at 55 I’m 40
Investing appropriately today can save you a whole lot of stress in the nearest future
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Thanks for the great info!
Great information!! Thank you!!
Thank you so much for the valuable information you always share.
❤ appreciate all these jewels 💎 my brother 👊🏾
I’m buying a duplex but this was still helpful!! Never considered the 25% vacancy. I have mine at 16% since it’ll be owner occupied and less units.
Great info MG!
Much needed info
#AskMG Thank you for the continuous 💎s. Can you go over purchasing a new build? Things to look out for, things to ask, the process, anything you can share. Most of your content seems geared towards resale homes. Thanks in advance!
You are so POPPIN. Thank you for all of your knowledge MG!
TY and you're welcome
❤❤❤❤❤❤❤ Yesss Thank you kinG so much. You got the keys, giving keys to uS.
Thnks .. perfect timing. My goal next year it buy a 4 family 🔥🔥🔥🔥🔥
Thank you 🔥🔥🔥
Hey MG this Patrick Davis from Washington DC. I just wanted 2 personally express my appreciation 2 you & all of your team Eyl University 4 taking the time out & sharing with all of us all of the knowledge & extremely important information that had 2 have taken many years of learning & experience 2 be able 2 slow things down step by step 4 a beginner as myself.By teaching in the way that you & your team have done it makes all of this 100% easier 2 understand thanks again me & my team will definitely me contacting you soon . I'm definitely buying your book
Me too! I'm buying both books! Knowledge is Power, right?
Thank you for this information! I wish Ihad this information prior to purchase. What is your recommendation and/or advice for correcting your numbers if you exceed the 100% after purchase? 😬
Good stuff
Thank you
MG!!! My wife and I are looking to buy a duplex to house hack in..we are in the DFW area!! All thanks to you for providing valuable info brother
My team can help you when you're ready. Apply with Mg.com
also in dfw looking in arlington for a duplex. remember the triplex and quad require 3-5 months of cash reserve
MG going crazy with the uploads!! 🔥🔥🔥🔥🔥
Videos everyday 4pm est. I'm just getting started 🙏🏽💎
When you included the owner occupied unit with the others does this determine the mortgage on the whole property?
Is the landlord still able to determine what the rent will be for each unit?
💎 💎 💎 per usual
Can you do a video about someone who already owns a 4 fam and wants to buy another property
Is there a home buyer programs where u dont have to live in the property?? Im in ny want to buy property in another state.
Does the self sufficiency test matter if I plan on living there with my income too? For example if after all is said and done the test estimates me at 1,000 of NET rental income a month and because real-estate is so expensive in my area the loan amount after everything is $1,250 a month. But I plan on living there for a while so my income for the property would be $2,100 because of my own $1,100 income. Am I understanding it wrong?
How can I use this method using my va and I’m disabled vet.
Do you guys service people in texas ?
Just curious, I hope this isn't a dumb question... But why wouldn't a deal be a good deal if you pass the FHA self-sufficiency test? I will definitely purchase your boos "House Economics". Thx for all the great info👌
Because if you are only positive by $1 in the example he gave, where is your room for repairs that will come up. Addtly positive cash flow for your pocket. It's superb to have the mortgage paid but aren't we in this to make money as well.
💎💎💎 This video ages well!!!
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Get in touch with them for help doing this. *Future imperative corps* will grant your request and help you get approved for receiving grant funds or any other available funds making methods.
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What's audio?
no because it is less than the monthly loan payment
Wish I knew this 6 months ago. I was buying a three family and it wasn’t self sufficient. Attorney still holding my downpayment smh!!
What do you mean self sufficient?
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Pray for me to get awesomely familiar with this formula. Thank you.
What exactly is 25% vacancy
For me conventional is significantly better, since after 20% down no mortgage insurance and with fha you pay over the whole lifetime of credit
You need help because you need some money for a start up business or a personal or business grant ? *Future Imperative Corps* is the team you need to help you.
Get in touch with them for help doing this. *Future imperative corps* will grant your request and help you get approved for receiving grant funds or any other available funds making methods.
Deposit and withdrawals don’t take much time. The SBA grant process is very comfortable.. I highly recommend *Future imperative corps* both for noice and professional.
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Yippeeeeee
The screen is black. We cant see you or the slides.
That's only on your end you can see the slides perfectly
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Thanks for putting out this content. I was recently approved by Marsha Morency for FHA (when she was still with you guys). She waited until I had a desirable property to then explain the self sufficiency rule for FHA. If you're approving someone for 3-4 family this is something that should be explained as soon as the approval letter is given so that the buyer has a clear understanding of what they should be looking for with regards to rental income. Wasn't sure on how those actions should be perceived. So I thank you!!
I 10000% agree with you. This should have been discussed as part of the initial consultation. Whenever you're ready to get a deal done I'm here to help. Email garlandgroup@unmb.com and I'll take care of you
@@Mgthemortgageguy I will first thing Monday morning.
Hello I reached out to the number that you provided and someone replied with solicitation of Cryptocurrency. I thought you wanted to assist with my real estate goals not train on Cryptocurrency.
@@cinnamon317ify that’s a scam. MG’s info is listed in the description box or social media.
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You need help because you need some money for a start up business or a personal or business grant ? *Future Imperative Corps* is the team you need to help you.
Get in touch with them for help doing this. *Future imperative corps* will grant your request and help you get approved for receiving grant funds or any other available funds making methods.
Deposit and withdrawals don’t take much time. The SBA grant process is very comfortable.. I highly recommend *Future imperative corps* both for noice and professional.
no
No
No it’s not
You think buying a house for $30,000 cash with a $400 cash flow is worth it??
Anybody?….
Might want to raise it to 650.00 to see little profit in 5 five years.
Is there potential for future equity growth? Look at the city future plans for the area. As long as it’s not negative I think it’s good.
That's not enough money to support the upkeep of the property. If there is not at least $1000 in your pocket every month then forget about it ! This guy is not realistic !
I’m trying to buy one to rent not live in married with 2 kids primary house is 2600sq ft can’t move us into a unit in a triplex I want to buy
Any advice ?
Hours later learning this.multi family investment property wont work in New York!? 😢
$1 short per month is not self sufficent? You cant go out n collect cans and make up the difference?😅
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No
no
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No