Multifamily Financing in 2024: Tips and Strategies

How do you secure financing for a multifamily property in 2024? In today's video, you'll discover the latest changes in loan programs, the importance of pre-approval, and practical advice for prospective investors. Join Juan Huizar, President of Sage Real Estate, and Phoebe Todorof, Co-owner of Sage Trust Mortgage, as they dive into the details.
Whether you're eyeing a duplex, triplex, or fourplex, this video provides valuable insights to help you navigate the mortgage process and achieve your real estate goals.
00:01 - Introduction: Financing Multifamily in 2024
02:04 - Standard Documentation for Loan Applications
05:05 - Overcoming Apprehensions About Pre-Approval
07:11 - The Impact of Credit Checks on Loan Approval
12:16 - Income and Employment Requirements for Loan Approval
16:24 - Using Rental Income to Qualify for a Mortgage
18:09 - Impact of Interest Rates on Multifamily Property Purchases
20:33 - The Current Buyer’s Market in Multifamily Real Estate
26:50 - Benefits of Unified Real Estate and Mortgage Services
28:48 - Strategies for Multiple Buyers and Ownership Structures
30:40 - Purchasing Property Through an LLC
31:57 - Assumable Loans
33:05 - Advice for Prospective Multifamily Investors
36:53 - Avoiding New Debt During the Loan Process
38:21 - Long-Term Wealth Creation
43:46 - Alternative Loan Options for Unique Situations
45:54 - Conclusion and Contact Information
#RealEstate #MultifamilyInvesting #MortgageTips #PropertyInvestment #RealEstateFinance #CreditScore #AssumableLoans #realestateinvesting #InvestmentProperty #2024RealEstate #RealEstatePodcast
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Juan is a Licensed California Real Estate Broker that has acquired his Certified Commercial Investment Member (CCIM) designation and a Real Estate Investor who is dedicated to helping people build wealth and financial independence through real estate investing.
Juan specializes in selling multifamily apartment units as well as residential properties. He prides himself in locating value-added properties that maximize the client’s investment yields. Juan is a detail-oriented entrepreneur.
Today he handles everything from finding, funding, designing, managing, and selling investment properties. His diverse experience in commercial and multifamily real estate allows him to develop and navigate a wide range of projects.
BRE 01417642​​​
www.SageREGroup.com
Follow me on social media:
Instagram: / multifamilylongbeach
Facebook: / sageregroup
LinkedIn: / juanhuizar-sagerealestate

[@RaceForGoodLife]

Very helpful episode! thank you guys!

[@SageRealEstate]

Glad you enjoyed it!

[@Ricocase]

How can it drive up prices if no one able or willing to overpay now? What appreciation is left on the property? How owner financing and a loan work?

[@matthewjackson5325]

If ive only been back working for few months but have a good debt to income and credit score how long do i need to wait until i can apply?

[@stoicodysseys6352]

Lots to learn. I would like some insight. Is there a way I can reach out to you? I am currently under contract and before we close I want to be absolutely sure. Quick facts it's a VA loan.

[@SageRealEstate]

Of course, feel free to reach out anytime.

[@AK577bd34]

You said 2 years of W2. Do you need the W2 to get my salary? I guess you take an average number of the two, right? So I got my first full time job in the winter of 2022. Before that my salary was low because I was student but after graduation and getting a full time job my reported salary in W2 increased substantially. Getting an average of the last 2 years don’t seem fair. Any solutions? Or should I wait to receive my W2 for 2024?

[@cruzmissile25]

I would say wait till you have 2 solid years of good W2 income. Plus if you need to wait, you have another year yo save for the down payment on your investment.

[@AK577bd34]

@@cruzmissile25 I actually talked to a lender and he said there is a workaround to solve this issue

[@cruzmissile25]

​@AK577bd34 awesome man. Glad you got it resolved. I'm at the "saving for a down-payment" phase of my investment journey. Gonna be a long road but will be well worth it in the end.