The Truth About Buying a 4 Plex Using FHA Loans and What You Need to Know!
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- čas přidán 5. 09. 2024
- The Truth About Buying a 4 Plex Using FHA Loans and What You Need to Know!
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My name is Sean Uyehara, area manager at Geneva Financial. And I'm dedicated to helping homebuyers like you get pre-approved on your mortgages across America. Whether you're purchasing, refinancing, downsizing, buying a rental, or even your first mortgage, we got you covered. Geneva Financial is licensed in 48 States! For more licensing information, please visit www.genevafi.c...
The information contained is the viewpoint of the presenter(s). Individuals should consult their own financial representative. Geneva Financial LLC. All rights reserved. NMLS ID# 42056 (nmlsconsumeracc...). Equal Housing Opportunity. This information is not intended to be an indication of loan qualification, loan approval, commitment to lend, or offer to enter into an agreement. Loans are subject to credit and property approval. Not all customers will qualify. Information, rates, terms, and availability of programs are subject to change without notice. Not all products are available in all states or for all dollar amounts. If you are refinancing your existing loan, your total finance charges may be higher over the life of the loan. VA loans subject to VA eligibility. Other restrictions and limitations apply.
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Nothing better than investing in Multifamily Real Estate. I have bought dozens of properties by adding value and trading up.
Love that!!
What's "trading up"?
Houston Realtor here. Precise and clear information. Love it
I appreciate that!
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.
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! 🏠🔍
They sure are! Multi units are great if the rents can cover the mortgage
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 ...🤔
You dropped some gold Nuggets here sir! I'm looking at a Quad and no idea I needed to qualify for the entire purchase sans rent!
Appreciate it!!
It’s well known that the more expensive places generally don’t get great cash flow . Everyone says you need to find a cheaper one
Legit information here. Thank you, Sean!
My man 👊🏻
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 CZcams 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.
Right but he's saying majority of us won't even qualify for that loan amount by putting 3.5% down...
Whats the software you’re using to compare the houses?
Would have been nice if you showed an example where it makes sense. 600k+ is way more than in my area.
What part of the country you looking to buy in?
@@SeanUyehara Chicagoland or preferably a bit further outside in a more rural area.
@@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
Lower property prices will translate into lower rents as well. The point that house hacking a multifamily property isn't a silver bullet still stands.
@@FlyingSagittariusnot always.
We thinking about to get one. Thanks for the info
You're welcome, if you would like to run numbers you can reach me at seanu@genevafi.com would be happy to help
What software are you using???
house hack with family or friends.... helllllll no!!
Geez, I'm in the same boat...😔