Buying a multi-unit house with an FHA loan is a fantastic idea. With one motion, you become a homeowner and a real estate investor. What’s more, your bottom-line monthly payment might be less than if you purchase a single-family home, thanks to rental income. But before making an offer on a 3- or 4-unit home, …
FHA Self-Sufficiency Test Calculator For 3- and 4-Unit Properties 2023 Read More »
Disclaimer: All mentions of dollar amounts should not be considered quotes. There are so many cost variables in each person’s situation that it’s impossible to get an accurate cash outlay estimate unless you apply with a lender. The sticking point to investing in real estate is often the same: the upfront cash needed. And investing …
How much money do I need to invest in multifamily property? Read More »
The down payment requirement for a loan program often means the difference between qualifying or not. Programs with the lowest down payments are often the most attractive. And when you’re buying a multifamily property, where loan amounts are much bigger, the lower the percentage down payment required, the better. Here’s what down payment you can …
What Down Payment Do You Need For A Multifamily Property? Read More »
Buying a multifamily property such as a duplex or an apartment building comes with huge advantages like semi-passive cash flow and lower cost per unit compared to single-family. And, there are safe ways to invest, especially in owner-occupied 2-4 unit multifamily homes. However, any multifamily property will require a very big upfront investment. Plus, you …
What Are The Risks of Investing In Multifamily Property? Read More »
Owning a multifamily property can reap benefits for years, especially if you invest correctly. Perhaps the best way to acquire your first multifamily property is to buy a 2-4 unit (residential multifamily) that you plan to live in. Then, you can pay just 3.5% down and get better mortgage rates with an FHA multifamily loan. …
What Are The Benefits of Investing In Multifamily Property? Read More »
Some loan programs require reserves, or extra funds “in reserve” after the down payment and closing costs are paid for. So, does FHA require reserves on a duplex, triplex, or fourplex? Does FHA require reserves on 2-4 unit properties? Here are reserve requirements for FHA: Triplexes and fourplexes are a bit harder to qualify for …
FHA Reserve Requirements For 2-4 Unit Properties Read More »
Most people love the idea of investing in real estate. There are so many upsides: property appreciation, rental income, and the pride of running a small business. There’s just one big ugly enemy that keeps most people from doing it: fear. When you ask most people why they don’t invest in real estate, it typically …
How To Safely Invest In An Owner-Occupied Multifamily Property Read More »
Many people wonder if they can use an FHA loan to get their feet wet as a landlord, earn rental income, reduce primary residence expenses, and start investing in real estate. The answer is a resounding “yes.” FHA loans allow you to buy a duplex, triplex, or four-plex (2-4 unit) property as long as you …
How To Buy a Duplex, Triplex, or Fourplex With an FHA Loan Read More »
FHA buyers who have looked for a duplex, triplex, or fourplex lately have probably found out that competition is fierce for these homes. If you do find one for sale, you’ll probably have to go head-to-head with cash buyers and conventional, 25% down investors. But what if you could buy a single-family home and convert …
Can You Use FHA 203k To Convert A Single-Family To Multifamily? Read More »
Many first-time and repeat buyers wonder if they can use a co-signer on an FHA multifamily duplex, triplex, or four-plex loan. Unfortunately, you can not use a non-occupying co-signer on a 3.5% down FHA loan for a 2-4 unit property, per HUD guidelines. While this is disappointing news, here are some things you can do …
You Can’t Use A Co-Signer On An FHA Multifamily Loan. What To Do Instead Read More »
