Have you ever heard of "house-hacking"? Essentially, you buy a rental property, and live in one of the units with lower rates and only a 5% down payment. That simple! This does solve one big problem for homebuyers: single family housing is in such high demand - expanding your search to 2-4 unit properties opens up a lot more opportunities for you as a buyer! 

Perhaps being a landlord isn't a fit for you - but maybe there's someone in your life that would benefit? Consider forwarding this email to them! 

Here's a quick rundown:

1. Buy a 2-4 unit property as a primary residence (move into one of the units)
2. You can do as low as a 5% down payment with a conventional loan (NOT FHA) on a 2-4 unit property with no income limit (this rule is officially going into effect November 18, 2023)
3. Immediately start collecting rents on the units you do not live in
4. Let's say you live in the property for 6-12 months, and decide you want to move into a larger, more valuable place, you can do the same thing again! You could get a lease agreement on the unit you were living in, which will also help cover your monthly mortgage payment.
5. For any new rental property you plan to buy and move into - we can use the rents from the other units to help you qualify for the property! Here is the big take-away: If you'd only qualify for a $300,000 single family home, you could buy a $450,000 4-unit property because we would expect $3,600 in monthly rents from the other 3 units, that would help you qualify for your purchase.

Questions? As always, give me a call or text at 414-488-0438