Investment Joy
@investmentjoy·2.5M subscribers·698 videos
How-To Get Government $$$ to buy your FIRST Apartment Complex - Real Estate Investing for Beginners
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May 11, 2020
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25:10Now PlayingIn this video I talk about the government program that lends people money to buy multi-family real estate and will EVEN PAY FOR THE REHAB.
There ARE limits on the size of the loan, for instance in my part of Ohio it's $718,750. If you're wanting to buy in LA for instance they will loan up to $1,472,550.
The FHA program, along with the 203k repair program and its ability to allow a person to purchase up to a 4-family complex is a pretty awesome tool to utilize to get into real estate investing. Please note that you'll have to live there for at least 12 months, which at point you're eligible to move out. As mentioned, I met one ultra-bright guy who went through the program, and hacked the heck out of his nice 4plex, eventually refinancing it and turning it into a 8 unit apartment complex with AirBnB Sublets, making $20,000+ per month on the whole project all while still getting the property with almost no money down.
I have laundromats down to a science. If you want to do laundromats as well click the link:
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