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Great video Thach!
ОтветитьDebt to income ratio is 33% and maybe 40% max with excellent applicant. Not 50%. On average. House rate grow around 6% not 10%. Most importantly, this video give all sunshine scenario. What happen if you buy a home now with high interest and due to supply and demand and rising interest rate. Housing market slumped. You be in negative equity with no way to refinance even if interest rate comes down. I feel the information in this video is a bit exaggerated and borderline not truthful.
ОтветитьThis mortgage agent has no sense of what the real rates are right now. Going FHA on a $500k house is next to impossible due to price caps.
The real price of your loan buying a $500k house with 3.5% down (no matching grants) is going to be dependent on the property tax rate on the assessed value of the home, with a homeowners insurance policy rolled in AND PMI. Your net all in total is going to be like $4050 if you can secure a 7.25% rate.
Taking in a 2X DTI is absurd. Modern advice is ~ 35% post tax, so to afford that 500k house at 3.5%, you should be bringing in $6225 monthly.
If you got that, go for it... but realize that you would be better off buying a cheaper house and paying it down faster or taking the differential and using it to buy your first concurrent investment property.
I wish that a $800k rental property can generate $6000/ month
ОтветитьHow are you even gonna make that kind of income to get started.
98% Jobs don’t pay that kind of money….
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future. Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it. "You're not going to remember those expensive shoes you bought ten years ago, but you will remember every single morning when you look at your bank account that extra 0 in there. I promise, that's going to be way more fun to look at everyday", I pray that anyone who reads this will be successful in life
ОтветитьI bought my first home for 18k when i was 20 years old back in 2010. I still own it and i just rent it out.. my parents gave me good advice at the time and i listened.
ОтветитьI know the owner of MM. Casey Crawford. He train BJJ with us
ОтветитьI make $130K at my job and a house worth $500K would make you house poor.
ОтветитьDo i have to own my own home before buying an investment property
ОтветитьCan i buy a house if i have 400k student loans
ОтветитьI saw Amazon girl delivered a package.
ОтветитьHello. I just saw your video for first time. I appreciate your video and sharing your experience with us. I heard about assuming a mortgage and I'm hopeful you can show me how to find people who are willing to transfer their mortgage. Is there website for possible foreclosures?
Currently, I have a two family home and would like to purchase another one, but I'd like some guidance. I'm hoping you can help me? Thank you in advance
What do you guys mean by unit, is it houses or rooms rented out. Like a 3 storey building with 30 rooms is it 30units or 1 unit because it a house ?
ОтветитьGreat video, thank you for putting this together!
ОтветитьWhen you are living paycheck to paycheck paying on time is really hard..... but people get what they vote for
(sadly people are so set and close minded on their political TEAM they refuse to learn from their voting mistakes)
HI THANK U FOR YOUR VIDEOS .. BUT NEXT TIME PLEASE DONT PUT MUSIC 🎵
Ответить500k home… who make 9k a month… no average American… real estate is a scam.
ОтветитьFor newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.
ОтветитьGood video great content can you make something for someone who new to the game with a VA loan? Maybe where to really start.
ОтветитьIs 2023 a good year to buy investment for rental. Given the high interest rates
ОтветитьBack in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
ОтветитьInvesting in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now. especially in light of the global economic crisis at the moment. I have $560,000 sitting in savings searching for the best method to enter these markets. This is still an excellent moment to invest in equities, gold, silver, and digital currencies.
ОтветитьYo this was amazing
ОтветитьSo weird, stupid tiktok dances have more views. than these organic success knowledge for long term wealth
Ответитьmy credit sucks and spending more than I can afford and I have a home that's worth less than what I've paid for...
ОтветитьWhy would I buy at a high interest rate? If the value of the home increases and rates go down, I still have to pay refinance fees.
ОтветитьThe success behind every rich person today is the decision they made for themselves regarding investment, and calculated expenses to income
ОтветитьOnly need $5000 monthly income? How about a video on how tf to do that?
ОтветитьI bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc... It is possible and very lucrative as long as all steps and details are followed.!!
ОтветитьI always appreciate and am forever open receiving a tremendous amount of value for all content intended for beginners. Thank you for helping build confidence to get a jump start in this challenging industry. Enjoy the ride ya'll!
ОтветитьI appreciate his wisdom, but I don't see how intrest rates will come down soon. Inflation is sky high and government spending isn't slowing. I do anticipate prices to come down a bit as our economy puts the squeeze on folks who took on to much debt though.
Ответитьthach i am so glad i found your videos!!! you are such a great mentor and really break down all the information. im a beginner but recently bought a property and so happy to hear all your advice!!
ОтветитьHi Tach, we are saving up to buy our first house with cash. We really want our savings to yield us passive income along with place to live. Do you recommend:
1. Buy residence to live with the cash and then think of investment property?
2. Buy 2 townhomes which can be afforded with saved money. 1 for living and 1 for renting.
3. Buy for giving rent (2 townhomes or 1 big house) and continue living in rented house?
6 years ago I couldn’t even get a secured card my credit was so bad😂. Own 4 properties now. 740 score. You can do it. Be patient, trust the process.
Ответитьif i get a triple decker ( 3 Unit ) rent 2 units out and live in the 3rd that would be considered owner occupied correct?
ОтветитьI going to pay $10,000 a month on my mortgage and $2,500 my car note and 5000 on medical expenses. No biggie
ОтветитьMannn credit score 😢 all bad
ОтветитьNice videos, love the story.... but 25k a month??? It's not much.... i'm over 30k a month passive and i'm still having a hard time.... growing up in the hood trying to make it out is the hardest thing ever.... the more you make the more family you have to help... paying 5 house bills of family members.... wish i wasn't asian....
ОтветитьThanks pretty good info
ОтветитьAnother excellent video 🔥🔥👍👍
ОтветитьHistorically low interest have given too many people dumb ideas 😂 they think interest rates are just gonna drop back to 3-4% because inflation “dropped” yet prices are still soaring
ОтветитьThis video is so helpful. Thanks Thach. I appreciate these videos. He literally broke everything down.
ОтветитьInflation and rates coming down??? Hmmmm, looks like you guys are either hoping or y’all are trying to help shift perspectives so real estate doesn’t crash
ОтветитьGreat video
ОтветитьThat was very informative, thank you
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ОтветитьHousing, education and woman , for long run investing
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