Consider Additional Costs for Investment Property

When determining affordability for an investment property, it is vital to consider factors like property insurance, property taxes, and potential tax reassessments that can significantly impact the monthly payments and overall affordability of the property.

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If you want to start investing in real estate, you’ll need to know how to get a mortgage. But with so many home loans available, which is the right one to pick? Do you go FHA or conventional? Do you work with your local bank or call a broker? How much can you even afford? These questions alone might put you into analysis paralysis, so today, we’re breaking down what it takes to get a home loan, how much YOU can qualify for, and the best real estate investment for beginners.

To demystify the home loan process is David Mackin—the third David in today’s episode—mortgage broker, house hacker, and home loan expert. He knows what you need to qualify for a mortgage in 2024 because he qualifies buyers all day long. David shares how YOU can determine how much home you can afford, why you’re getting different mortgage rates from different lenders, and how to find cash flow in your market by reverse engineering your real estate calculations.

And, if you’re looking for the easiest, lowest cost, and arguably best way to get into real estate in 2024, this episode is for you. We’ll break down why house hacking has become the new norm and why skipping out on it can cost you BIG in your real estate investing journey.

In This Episode We Cover:

The simple calculation to estimate how much home you can afford in 2024

Getting pre-approved for a mortgage and why credit score ISN’T as crucial as you think

The danger behind getting a low mortgage rate and signs that your lender isn’t experienced

Debt-to-income (DTI) and two factors that can throw your home loan completely off track

Why house hacking is the BEST way to start investing in real estate (especially with high home prices)

And So Much More!

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