How to Buy a Multifamily Rental Property with 3.5% Down

[@jonathangamble]

you need more videos on real estate risks, how to save retained earnings, where refinancing can be dangerous (with numbers and detail), and how to grow the right way... in fact, it should be a series

[@ritamc90]

I would love that too!

[@Touchatt]

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

[@jonathanmcintosh1969]

@@Touchatthi how do I contact you?

[@thevaynenetwork2575]

Bank of America offers 5 percent down for a duplex convention option

[@KrystalLatrese]

Thank you for sharing this

[@idkmybffjill9682]

Seriously thank you, only reason I clicked on the video

[@MicahWotring]

Exactly what I needed!!! I've watched over 10 hours of FHA videos and this one explained things most of the gurus skipped over. Bigger Pockets is the BEST. Thanks guys!

[@chriscovarrubias213]

This video helped me a TON! Currently in the process of buying a multifamily on a FHA loan and this info was GOLD! Thank you guys 💪

[@legiterneyy]

Hey congrats on buying your multifamily home, I’m currently in the process of buying one myself (4 Unit) (1.2m) multifamily, thinking of using a FHA loan for this. Any suggestions or ways to get approved with what you went through already on your process?

[@ediemoll]

How is it that I learn something EVERY TIME I listen to you guys?!?

[@ATFstein]

Boom first! Love this channel I live in San Jose and I’m tired of making printed circuit boards for a company that won’t give me a raise while they spend 10 million dollars upgrading their equipment in the last 6 months.

[@tacrewgirl]

Great info. I didn't know about the self sufficiency rule or having to move at least 100 miles from current FHA residency to use it again. But like you said you could restructure your loan as a conventional and then use your FHA again if moving less than 100 miles between homes.

[@americanfoundafilipina4832]

I contacted Christians company and I have been very happy with the service!!!!

[@roderickhorton7845]

Today I actually learned something very important.

[@DanKohan]

I totally get the idea of using FHA loans to buy apartments and rent them out. The cool part is that you only need to put down 3.5% of the property's cost, which is great for starting. Great video!!

[@vevasika]

My only thing is though your monthly payment will be pretty high if you put so little down plus the PMI as they mention and then the unknown of property taxes and it’s increases…so you’d really have to make sure your rent will be able to cover that

[@patelbv]

I keep saying it, but we love mortgage Mondays! And like every episode, so much of that is relatable. I was a buyer in late 2015 when the lending laws changed that added that self-sufficiency on 3-4 unit properties. I was in the pre-approval process when I was suddenly told that I couldn’t get into the 4 plex in Long Beach because 75% of the rents wouldn’t cover the mortgage. We bought a duplex instead; and I feel like that’s the best option for first time home buyers in SoCal. FHA, 3.5% down, on a duplex. I also have the golden handcuffs; so I appreciate the conventional/5% down tip! It’s one of the options I’m looking at. So here’s the outside-the-box question: if you STR rental a duplex/SFR, for 2 years, does that help your borrowing power to qualify for a house every (other) year within 100 miles?

[@karlfriebel744]

Very informative episode. Please breakdown DSCR loan for small multi family.

[@tellasnichols805]

Literally broke down my game plan but I didn’t know all the details so thank you 🙏

[@TJ-th9hw]

Great content gents! I learn something new today “MIP”. Thanks for the video!

[@Juansvq37]

This is dope, this was the product I was looking info on but only got so far, I know you guys went into depth a little but after you guys get done with the main real state products can you guys maybe double back and teach us more about this one. Also thank you for the knowledge it’s empowering being 22 learning how become financially free from elder folks who have done what you’re interested in. Keep up the good work and thank you again.!!!

[@Touchatt]

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

[@tazeev]

Your show is so good but I’m calling my bank tomorrow to see if they have an FHA loan. I can get this three Plex with. Thanks for all the great information.

[@lailaatallah1857]

So helpful. Learning about the FHA loan in COMPARISON to a conventional loan was super informative. It’d be helpful to hear more use cases and how people with particular challenges can buy their first, second or third investment property. Which product can tend to help people with lower incomes? Which product might work for someone who has a high DTI after their first investment property, but wants to buy their second? How would someone who has a lot of assets but not a high income be able to buy their third rental property? Etc.

[@erikanoxid]

Very helpful!! I have never heard of MIP!! Thx for this GEM💎

[@ivanr77]

Came here for multi-family info was baited into an FHA overview. Thanks for the 101 i didn't need.

[@tonyalutzTML]

If still taking show suggestions: how to business hack with an SBA 504 or 7a? Not sure if this is a topic that could be considered because it’s lender specific. Please keep the Mortgage Monday show running, everyone learns so much from you guys!

[@Touchatt]

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

[@devonscope6222]

The zooming in and out is killing me

[@skarhead7597]

This isn't in any way important

[@Nohelygarza]

This is very helpful! I’m trying to understand more on how to make money with multi family properties/real estate I’m glad I found this channel!

[@rebekahcurtis538]

Helpful! Thank you….gave me some ideas for my primary SFH and FHA financing. Planning to buy a MF next but wasn’t sure what to do to free up the FHA. Located in AR and was one of Henry Washington’s students.

[@biggerpockets]

Great to hear!

[@SeanLuc_Photo]

Thank you for this info. As a current Gold Handcuff person, learning how I can get released from those cuffs was very helpful.

[@Tanya401life]

I would like to see more videos like this. Great content and guest!

[@biggerpockets]

You got it!

[@MrThyberg44]

Thanks for the great episode. Would love to hear more about VA loans!

[@crypto_ai_v2]

Do some full videos on management companies virtual and non-virtual and what is a good percentage to agree on

[@MR-zf4rw]

David, you always provide value. Love it man. Thank you.

[@TEFgolfer11]

Very helpful! Christian is my favorite recurring guest

[@wowwhydopplhavemyid]

Thank you this is great..! kinda hard for someone like me who barely knows anything about realestate but excited to dig more into this. Thanks again!

[@JamMillion]

Very helpful I will be doing this when I purchase my first property

[@KilleenRealtor]

Great episode! Perhaps an episode regarding VA loan and strategies to use that to its highest potential ?

[@christianbachelder8608]

its coming!

[@seamus203]

This video was helpful in a broad way. There are many restrictions on the types of properties that work with FHA, in my area especially (CT/NY) it seems sellers have realized that there are so many big-time buyers and investors in the market still right now, they no longer are willing to make any improvements or adjustments on properties, everything is selling on an 'as is' basis. This in turn rules out the possibility of using the FHA loan due to its restrictions. What about 203k loan option, which I believe is a variant of the FHA loan?

[@tammybooth5279]

You guys are awesome! I learn sometging new everytime I listen in. Thanks Again

[@tyjameson7404]

Give us another podcast on how many VA loans a veteran can obtain 🙌🏾🙏👏🏿

[@matthewburkholder1076]

This is one of the best episodes ever!

[@happycappy9606]

I love this straight forward content! More of this please!

[@ProvocativeCrew]

You guys answered a lot of questions I was wondering about thank you

[@chibsryder]

Love this episode, thanks David. I would like to see a video on low down payment options for foreign investors. As a Canadian, what are my options to buy a house using a low down payment + DSCR if applicable OR an option to buy a house without putting anything down because I got 20% equity in the buy. I need an institution that rewards getting properties with equity by skipping the down payment

[@jaredcoburn4644]

Learned some valuable details. I really appreciate this type of video.

[@seanwilliams4398]

This was INCREDIBLY informative. thank you for the breakdown

[@biggerpockets]

Glad it was helpful!

[@applesyo]

Super helpful, going to re watch after work. Looking to buy my first house (duplex) so this helps a lot

[@biggerpockets]

Best of luck!

[@collierant]

Can you explain the DCSR loan for MultiFamily since I can’t live in the four plex I want to buy

[@christianbachelder8608]

This is on its way!

[@cabinkingglampking]

David Greene’s beard is on point! Lookin good!!

[@thatflywelshguy9662]

Can you guys cover the “replace your mortgage” since you guys are advertising for them? We looked into it 2 years ago but they were variable rates which I was not willing to do knowing how things were going (I was right about rates rising) and RYM also wanted a significant chunk to be a “member”

[@croftonstreetllc7695]

awesome show packed with very useful info!

[@user-dy5tv4yy6t]

I really enjoyed this one and how easy it is to understand!

[@tylerjack6300]

Another great video! Learned so much!! 👏🏾💯

[@rebaneal4047]

So informative!

[@elizabethdlcrz]

Love the content!

[@LuisJimenez-fj3ho]

Correction: Mortgage insurance is discontinued automatically once mortgage gets to about. I think about 78% of its purchased value.

[@bellabluejungle]

My bad. Here's the fix. MIP-Mortgage Insurance Premium is for FHA loans when people pay under 20% down and their terms are more complex. The PMI- Primary Mortgage Insurance is an extra insurance on a different type of loan when you pay under 20% down. *Also note that you can get non FHA home loan by paying under 20% down. Talk to a lender about the details & your options.

[@ganson4411]

That was great! Thanks to both of you!

[@seanpatrickbarnett]

Love these deeper dives. Can you go over HELOCs

[@adasanabria7022]

I just need to know more about having multiple FHA LOANS and more in depth as to how that works.

[@counterproof]

I would like to hear about a multi family loan where you buy the land and build a four unit property.

[@noahwillett5925]

Thank you, this is extremely helpful!

[@MrP00p1]

great infomation !! thank you

[@christophercrossman6967]

I'd love to learn more about Construction Loans

[@faithharris143]

Very helpful. Thank you both!!

[@victorterrazas-castro7089]

Great information. Any change having an episode on an All In One loan? I hear this loan helps payoff your mortgage faster. Thanks!

[@michaelburrell4685]

Great episode! Fantastic information always. Thank you @DavidGreene24 and @Biggerpockets. I would like to learn more about VA loans next. Specifically if you could partner with a veteran to get one on a property. My father is a veteran but I am not. Thanks again!

[@kathleenvillagomez9211]

Very helpful and inspiring. Thanks

[@AR-ts2qr]

Refinance if rates ever go back down. Fed already announced they won’t be going back down. We’ll see

[@Bellawalsh-girly]

Very helpful as always!!!

[@chancelor3235]

I had a question about FHA loans. When using one to buy a single family home and house hacking, can you use 70% of rents to help qualify for the loan?

[@Dio2a]

MORE DEEP DIVES like this video 🙏🏽💯

[@KrystalLatrese]

Super helpful thank you so much

[@Lovepinkdress]

This doesn’t work in current environment with multiple offers as sellers don’t like fha loans as more restrictions during inspections and obviously they don’t want the deal to fall through. Thsi will work when no offers and sellers are desperate. Hopefully this time comes in the next year or two.

[@bsktproductions5658]

thank you this was great and very informative.

[@RealtalkwithTammy]

Great video 😊

[@aceofslayz]

Thank you for building with us

[@shelvonbrooks2307]

Fantastic information

[@Belle_Faye]

Very helpful ✨

[@denicelopez9467]

Nice! Thank you for this very helpful. Can you do conventional loans now? Please

[@giniestudio8975]

Love this show thank you

[@Ray-ge1vx]

Super helpful!

[@isamfarah3744]

Absolutely very helpful

[@davidstephens9594]

Very informative video!

[@biggerpockets]

Glad you think so!

[@massguy9625]

Great information. Thank you.

[@biggerpockets]

Thanks for watching!

[@mtrcx1]

Thanks for the video. My wife and I are looking to purchase our first home in the Bay Area (Peninsula, SSF, ideally) and are looking for a multi-family home to house hack. As you mentioned in the video, FHA loans in high cost areas aren't ideal. We have some family help and our own savings for down payment and we have excellent credit. What is the best loan option for people in our situation?

[@PartyTimeProDJs]

Can someone use an FHA loan for the purposes of high debt to income and or low credit score, but avoid MIP by either having 20% equity or putting down a 20% down payment? Or is MIP automatically added on an FHA regardless of equity/down payment?

[@Touchatt]

I’m a Gator. I do short term transactional funding for EMD, gap and double closing funding so you can get more deals under contract. I can also connect isn’t PMLs and HMLs.

[@lt5556]

Great info!

[@adasanabria7022]

Learned so much.

[@theodoreroberts3407]

This is what I need. At least a two family that I live in one. I'm a first time buyer and a senior. So, let's start there. What can you tell me to help me get this and how much will it cost me?

[@insightfool]

Super useful. Thanks. 👍

[@stevenyoo4648]

Great Video, will you guys make a video on the new FannieMae product? the 5 Percent down on residential like 4 plexes?

[@shackeeljackson4230]

Very informative

[@alejandromorales5822]

Very good info, thanks 🤙🏼🤙🏼, how long should I wait to refinance from a FHA loan, don't really like those PMIs.

[@jickumathew6949]

Interested in learning more about financing to purchase a rental portfolio, recasting opportunities and such

[@JR-bx6kw]

Love this.

[@francesmccrory1794]

This was helpful

[@emanuelcollado1343]

I have been doing this for years

[@frobinson1981]

I have the golden handcuffs stuck on the refinance stage of a BRRR

[@williemaewatson2043]

Thank you! I love Bigger Pockets; I've learned so much through your platform. Getting a conventional want to buy a l FHA loan next, I want to buy a Multifamily home a four plex if possible, but having a hard time finding one in Michigan any suggestions?

[@alexjbriiones]

Yes, but what if this is an investment property and I will not be living there? Then what, where is my 3.5%?

[@deshawndavis]

Show us how to do what the title of the video says.

[@florianewu7256]

Very helpful. Ty! 📚📚📚

[@tyjameson7404]

Christian is the bomb 💣

[@jessicaharding512]

Learned great tips can you do one of these on the VA loans

[@christianbachelder8608]

On its way!