Bought a new construction house in Central FL with a 5.75% int rate mid year when rates where at upper 7. Even 8 or 9 sometime. The house has an inlaw suite so im hacking that as well. End of the day im paying 3k a month minus 1300 a month for the inlaw suite. And the house came up 50k since negotiation. Come to central florida outskirts of Orlando is in a major growing stage..
Ahhh. I feel refreshed. I love hearing logical conversations about investing. ( Too much Crazy out there! ) This was like, at Thanksgiving, sitting at the Grown Up Table vs The Kids Table.
I loved this episode. Build the buy box and know your strategy. My goals right now are to buy a primary with an option for HH on my property. If I am in north austin and there are not a ton of detached garages, how would I HH with a family? I’m not sharing walls and ADU at $110-$120k doesn’t seem to leave much room for a successful cash flow or even a break even with the rates. Any suggestions?
Buy a tiny house to keep the cost down? With out sharing walls you might want to consider… rent out your garage? Don’t spend the $120k? What kind of income can you generate if you spent the $120k?
@@ProjectRETiny house was a thought. We are going to move into a single family home and in Austin they don’t have may detached garages so building a stand alone tiny home in the backyard sounds like the only option.
@@ProjectRE I love your content man. Seriously so good at what you do. I’m new to this but I’m addicted. This sounds like the thing to set my family free. Sounds like it has done that for your family!
Hi guys, just wanted to say that I'm still watching pods and failing at finding something and wow...do a lot of these terms go over my head without a link to contextual education.
It’s when we give the seller a offer number and don’t complete the closing until permits are issued for our new plan. Check out my BP UA-cam video on developer debt. I break it all down!
Hey guys! That is for investment propery purchases. You all are right for HH primary down payment loans. It’s the BEST way to put less down and get a lower rate. Once you max out on those loans typically banks look for more down.
Hey just fyi. Black rock split off from black stone decades ago. Black stone is a larger corporate landlord. However they aren’t even a top 5 corporate landlord. Invitation homes is bigger for example
Goal: To get new families on the property ladder. How can the new ADU rules on FHA loans help? Can investors now purchase a SFR and create an ADU and then sell to first time buyers? Will the ADU income help them purchase? Do they have to show 12 mos of ADU rental income?
ADUS will supply more affordable homes to the market - only few markets can be sold off right now. The reduced down for multi will help people cover costs by using the other rent income
@@ProjectRE that’s interesting.l think that might be for the older generation.l go in too a lot of homes and the younger generation complain about the wasted space that they don’t use.someone on UA-cam did a survey (Jamil the wholesaler)he found that most wanted a bigger eat in kitchen than a dining room.admit-tingly it saw asked from lower income families 🤷♀️you got me thinking about it 👍
For people who have already bought in the last year or earlier, all they have to do is sit back and watch what will happen in 2024 and decide whether to sell or not !!
Its time to invest in real estate when you only buy with 30% down and can't get a mortgage without 3yrs provable taxable income and based on that you can borrow borrow x3 times. Until then, real estate pricing is perverted. Additionally, in turns of sentiment, the time to buy is when no one can either obtain a mortgage or wants to talk about it real estate. No one wants to pay up for a pig that's has lipstick slapped on it. In a property bull market, the lipstick makes no difference anyway. Anyone who thinks leveraging into the tenants and toilets business based on 3% yield needs a rethink. We're heading for a de-financialized/de-leveraged market The path to wealth creation over the last 40yrs was to be a debt junkie. Borrow to the eye balls and dump it into positive cash flowing assets. That's created a few generations of of folks who produced nothing and were rewarded for it. The future will be vastly different. The magic money spigot is closing. Deleveraging will be the road to pursue over the next decade.
James D is always dropping Gems 💎
Thanks chuck!!!
It's 5% down for conventional owner occ , 3.5% FHA has always been there 😊❤ good stuff fam 👏
Bought a new construction house in Central FL with a 5.75% int rate mid year when rates where at upper 7. Even 8 or 9 sometime. The house has an inlaw suite so im hacking that as well. End of the day im paying 3k a month minus 1300 a month for the inlaw suite. And the house came up 50k since negotiation. Come to central florida outskirts of Orlando is in a major growing stage..
👏
Ahhh. I feel refreshed. I love hearing logical conversations about investing. ( Too much Crazy out there! ) This was like, at Thanksgiving, sitting at the Grown Up Table vs The Kids Table.
Thanks!!!
Solid episode fellas 🔥
🎉thanks 🎉boys and girls
Great. Thanks for sharing such valuable knowledge. Deeper underwriting 👍
It’s all in the UWing!
Great show today!!
🙏🏻
I loved this episode. Build the buy box and know your strategy. My goals right now are to buy a primary with an option for HH on my property. If I am in north austin and there are not a ton of detached garages, how would I HH with a family? I’m not sharing walls and ADU at $110-$120k doesn’t seem to leave much room for a successful cash flow or even a break even with the rates. Any suggestions?
Buy a tiny house to keep the cost down? With out sharing walls you might want to consider… rent out your garage? Don’t spend the $120k? What kind of income can you generate if you spent the $120k?
@@ProjectRETiny house was a thought. We are going to move into a single family home and in Austin they don’t have may detached garages so building a stand alone tiny home in the backyard sounds like the only option.
@@ProjectRE I love your content man. Seriously so good at what you do. I’m new to this but I’m addicted. This sounds like the thing to set my family free. Sounds like it has done that for your family!
Hmm I thought you were able to do a residential, FHA loan with 3.5 Percent down.🤔
Hi guys, just wanted to say that I'm still watching pods and failing at finding something and wow...do a lot of these terms go over my head without a link to contextual education.
Any specific terms I can help with?
I remember feeling the same way. Keep with it!
Excellent SHow!!! Thank you!!!
Thank you!
James what do you mean by closing on permit? Can you expand on that? Give me some examples
It’s when we give the seller a offer number and don’t complete the closing until permits are issued for our new plan. Check out my BP UA-cam video on developer debt. I break it all down!
Thank you for explaining the difference between residential property of 4 units and commercial properties of more units
Alaways an amazing show. I’m looking at multi families, 3 to 4, units in Stockton CA. Will definitely look at the BP data🙌🏾
Get some!
I got into multifamily fha with 3.5% down so idk where he got 20% from?
Same! Closed 2 weeks ago!
I think he meant the conventional loan. You can now put 5% down up to 4 units
@@Sayfeijai I'm sure this is credit based, but I had the option to do 3% down on conventional. So I was confused by what he was saying.
Hey guys! That is for investment propery purchases. You all are right for HH primary down payment loans. It’s the BEST way to put less down and get a lower rate. Once you max out on those loans typically banks look for more down.
@@Raven_Chedepends on what type of loan you are getting OO/investment
Amazing episode guy's 👏
Thanks!
Great information for 3024❤
Although I like and appreciate the information you guys put and discuss, I always feel you show only the bright side similar to real estate agent
Sum it all up
2023-2024/25
ADU Equity or wait out interest rates.
Advice for wholesalers specifically new ones who don’t have the capital to dive heavy into flips and brrr strategy’s
Partner up with your investor clients. Contribute you’re assignment and get some equity!
Love you guys!! Need the bigger picture.
🚀
Buy Box is such a great method for understanding when/where/what to buy. We should give some credit to Michael from One Rental At a Time for this
Hey just fyi. Black rock split off from black stone decades ago. Black stone is a larger corporate landlord. However they aren’t even a top 5 corporate landlord. Invitation homes is bigger for example
💪🏾💪🏾💪🏾 great vid
Is it buying power?
Goal: To get new families on the property ladder.
How can the new ADU rules on FHA loans help?
Can investors now purchase a SFR and create an ADU and then sell to first time buyers?
Will the ADU income help them purchase? Do they have to show 12 mos of ADU rental income?
ADUS will supply more affordable homes to the market - only few markets can be sold off right now. The reduced down for multi will help people cover costs by using the other rent income
I’ll be looking for bridge dept 2nd 1/4. No brained, so to those that floated it when it was obvious rages could only go up lol.
What the heck is gunpowder in real estate plz?
Yes .Builders step up and build smaller homes.we don’t need dining rooms that never get used,
Always squeeze a dining space in ;) buyers hate not having one
@@ProjectRE that’s interesting.l think that might be for the older generation.l go in too a lot of homes and the younger generation complain about the wasted space that they don’t use.someone on UA-cam did a survey (Jamil the wholesaler)he found that most wanted a bigger eat in kitchen than a dining room.admit-tingly it saw asked from lower income families 🤷♀️you got me thinking about it 👍
Quality > Quantity
For people who have already bought in the last year or earlier, all they have to do is sit back and watch what will happen in 2024 and decide whether to sell or not !!
Follow the math!
Can they sell? They bought at the top
@@cynthialady8071who bought at top? Not me 😂
Cash suck is no joke.
For real!!!!
Real estate crash is inevitable, majority cannot afford housing. It’s unfortunate but don’t hide from the fact it will happen.
Its time to invest in real estate when you only buy with 30% down and can't get a mortgage without 3yrs provable taxable income and based on that you can borrow borrow x3 times.
Until then, real estate pricing is perverted.
Additionally, in turns of sentiment, the time to buy is when no one can either obtain a mortgage or wants to talk about it real estate.
No one wants to pay up for a pig that's has lipstick slapped on it. In a property bull market, the lipstick makes no difference anyway.
Anyone who thinks leveraging into the tenants and toilets business based on 3% yield needs a rethink.
We're heading for a de-financialized/de-leveraged market
The path to wealth creation over the last 40yrs was to be a debt junkie. Borrow to the eye balls and dump it into positive cash flowing assets.
That's created a few generations of of folks who produced nothing and were rewarded for it. The future will be vastly different. The magic money spigot is closing. Deleveraging will be the road to pursue over the next decade.
👍👍
This is all extremely unrelatable.
T