Many new real estate investors worry about coming up with the down payment to finance a rental property. In this video, I speak with Katy Sychtertz from Princeton Mortgage about how you can put less money down when buying a multi-unit property like a duplex or triplex if you live in the property.
0:00 Overview
2:55 Defining Owner occupied vs. Investment only loans
4:38 How lenders view risk on investment only loans
5:49 Lender as a partner vs. cash buyers
7:22 Similarities and differences in loan process
8:12 Rental income help in qualification of loan
10:08 Appraiser’s role in rent rate
11:30 Residency obligation explained
12:38 Asking a current tenant to vacate to fulfill residency requirement
14:58 Deciding which multi-family unit you will live in
15:49 Scale of down payment from 2-4 units
16:38 Financing for renovations coming back
17:34 How often can you repeat a house hack?
22:05 Advice about showing rental income on tax returns
24:40 Few thoughts on mortgage rates
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Veronica comes from a family of real estate investors. She is passionate about helping clients create wealth, build a legacy, and design a dream lifestyle through real estate.
What makes Veronica stand out from other realtors is her financial background. With an MBA in Finance from The Wharton School and a bachelor’s degree in Economics from Northwestern University, she does not run from the numbers. She spent over a decade running financial models to help her employers evaluate projects and products. This skill allows her to simplify the bottom line for a homeowner or forecast the return on investment for a developer.
Veronica is a licensed realtor in PA. Veronica helps her clients buy, sell, invest in real estate in the following neighborhoods in the Philadelphia metro area: Cedar Park, Chester, Cobbs Creek, Darby, Drexel Hill, Germantown, Kingsessing, Lansdowne, Marcus Hook, Overbrook, Overbrook Farms, Sharon Hill, University City, Yeadon, and Upper Darby. Her company also provides property management services for single-family homes and small apartment buildings in the area.
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