WATCH THIS Before Buying Your First Multifamily Rental Property with an FHA Loan!
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- เผยแพร่เมื่อ 5 ก.พ. 2025
- While FHA loans are typically made available for single-family homes, you can also use FHA financing for a duplex, triplex, and fourplex.
If you're considering using an FHA loan to buy a triplex or a fourplex, the property needs to pass the FHA self-sufficiency test.
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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.
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www.SageREGroup.com
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Something Ive learned going through the process in Texas, is to make sure the property is zoned as Multifamily.
A 3-4 unit property zoned as residential wont work with insurances since its a huge risk.
Your videos are so informative. Please keep sharing your knowledge! Thank you
Thank you! Will do!
Good video, but fha is not only for first time homebuyers and you can get a fha loan more than once.
Correct
Ya can but if you're like me and don't have alot of reserves. You will run into an issue on the next one if not that one possibly the 3rd property
@@toxicthesniper8264its called own a business that generates revenue like food business first
Thank you for the calculator !!
You are so welcome!
Nothing better than investing in Multifamily Real Estate. I have bought dozens of properties by adding value and trading up.
Thank you, Jason. We should connect soon.
Properties here in Cleveland Ohio meet the self sufficiency test lol
Hey, isn't the self-sufficiency test kind of similar to the loan qualifying process for commercial real estate? meaning lenders care more about how much money the property is producing as opposed to the financial history of the person asking for a loan?
It is similar not exactly the same. Meaning Commercial cares about debt coverage ratio meeting the 1.20. Thanks for commenting.
Does personal income go into account for the self sufficiency test or strictly the rents?
Thank you for the valuable information. I’ve watched so many videos all saying a bunch of nothings lol but this was very helpful.
Glad it was helpful! Thanks for watching
This was very great information. I took notes and I will be successful in my process.
Thank you for commenting. We wish you the very best. Let us know what other type of content you would like to see.
I'm interested in the FHA multifamily construction loan, is it still 3.5% down? Utilizing both my pay and the potential rental income? I have experience with airbnbs.
Thanks for the information! Merry Christmas gentlemen!
Thanks for watching and commenting. Merry Christmas 🎄
please help me,😢I have a problem;I always get caught in the middle between the buyer and the seller.
"The seller says they won’t provide the financial information to the buyer without receiving an LOI, while the buyer says they won’t submit an LOI without first seeing the financial information. Why isn’t the seller satisfied with just a POF and an NDA? The buyer has the right to review the property’s details before submitting an LOI.
As a real estate broker, we do provide financial information to incentivize a buyer to submit an offer. The majority of the due diligence leases, profit, and losses in additional verification will come while in escrow.
Everything, and I mean everything in my city and within 40 miles is at the peak price its ever been at in history. I cannot fathom how people are buying right now
Thank you for the information
Id like help or guidance with this process please
Exactly the information I was seeking! Thanks for the information.
Glad it was helpful!
Could you guys talk about the process that you would take if you find a 4 unit but it needs some work what would you do in that situation
Good idea 👍 we can probably do a case study.
Great to see updates on multifamily real estate trends! 📈 If you're looking for standout opportunities in this space, I’d be thrilled to share some insights that might be exactly what you're looking for. No strings attached just valuable info on unique investment options.
I'll check it out!
When i get a FHA loan, do i have to pay extra for insurance since i didn't reach the 20% down payment?
I currently have a single family and a fourplex under VA loan. Both properties are fully leased. Can I still get an FHA loan to get into another property? I haven’t used FHA before.
This is true just remember if you have the money in your capable 10 to 20% you don't have to pay some insurance
How do you access your FHA calculator?
It's on our website under resources.
Could you put to loans together like FHA + a DSCR-type loan?
No, I've not heard of that.
4 units, would that be qualified as 2 duplexes and a 3 bedroom house all on the same property?
In this hot market alot of sellers would decline an FHA loan since it takes longer. Btw im refering to the nyc/nj area.
Single-family homes and condominiums are still a hot market, but smaller apartment buildings are moving slower meaning that a seller would definitely consider an FHA borrower.
Thank you so much for this. I've been thinking of purchasing a multi-family property and I'm currently unemployed. I've read the best finance book(s) from Robert T. Kiyosaki and I've learned that you can use 100% debt to create money from thin air. I am really hoping I could quality for a FHA loan and purchase a multi-family property with almost 0 income (self employed doing side gigs, but not much money coming in.) I am still learning step by step! I am really liking what you are teaching here. Thank you again, and if you reply to my comment, would love to see what your feedback would be!
I'm definitely a fan of rich dad, poor dad. And lenders will require the borrowers qualify for my income perspective. I do suggest that you speak with a lender to see how close you might be to qualify.
@@SageRealEstate Sweet! Thanks!!
Outside of California passing the self-sufficiency test would probably be a lot easier since properties are so much cheaper right?
That is correct out-of-state for an areas of California that aren't as highly priced. You could definitely make this work. But now with Fannie Mae, you don't necessarily need FHA.
Any recommendation for a lender in FL?
are you able to provide any information on VA multifamily loans. Fortunately I don't require PMI and there are no finance caps from the government side just the lender side. Also no downpayment requirement makes it even sweeter. Any advice here or direction on best lenders for VA backed multifamily unit purchase?
🙏🏾🤘🏾 thanks for the information
You're welcome !
I found a 9 plex in the Midwest for fairly cheap but I would need a loan. Can I get an FHA or is that too many units ?
You would need a Commercial Loan for anything above 4 units
If you dont buy it using FHA, is the 75% not applicable?
Question/situation for you: I’m interested in a quad and my cousin wants to buy it with me so we’d occupy two units and rent the other two. (1) could each get their own loan for half the property, (2) is the property assessed as a quad overall with the self sufficiency test or considered a duplex for each of us since we’re both half owners?
Thank you for reaching out with the new fan. I'm 5% percent down you no longer have to meet the self-sufficiency test. But to answer your question you could buy a 4 Plex with your family member. Check out our website. Send us a message. Will be glad to help you or direct you to the right professional in your area.
I litterly have that issue 4 units 850 i need help what do i do next
Hello, what exactly are you having issues with. We like to see if we can help.
What about in Malibu? Wouldn’t it work there? Thinking of FHA construction loan on 3 unit. Single family with 3/2, one ADU with 1/1 and another ADU 2/1
Malibu is a higher price point but there is definite opportunity there.
Bought a duplex and got foreclosed on :(
Sorry to hear that how did this happen?
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
High leverage dangerous in these times….
Can you explain what you mean by high leverage?
Love the info but Cody’s thumbs are freaking me out😅
Gotcha we'll ask him to try to keep his hands off camera. 📸
Can u find a 10k market rent property for 850k😂
For me it made no sense. With conventional is i did 3% down and when 20% is paid off than you don’t pay anymore mortgage insurance . SO FHA IS STUPID
We've been able to successfully utilize FHA financing. And we strongly recommend it for those that need it.
I learned a lot from you guys, and I live in Souther California trying to buy my first property but I am leaning towards multifamily homes. Can you guys provide my your office number to get ahold of you guys?
Hello, thank you for the feedback. I'm glad you have enjoyed learning from our channel. We certainly enjoy teaching. Check out our website to get our contact information. www.sageREGroup.com