Owning Your Home Shouldn’t Take Decades
June 18, 2020With the Right Broker, Nothing is Out of Reach
July 2, 2020
Bill was living in an apartment above a small barbershop in Philadelphia when the owner approached him about possibly purchasing the property from her. His only concern was locating financing for a 2-unit property — and he didn’t have much in his savings to put down either. That’s when he came to me to see if there was a solution.
I advised Bill to use FHA financing to purchase the property since he was going to be living in the unit. FHA allows financing for 1-4 unit properties as long as the person is living in one of the units. With the required minimum being 3.5%, Bill’s mortgage payment is now only $50 more than what he was paying for rent before.
This is a great example to show that you don’t need a lot of cash in order to build wealth and create assets to build wealth from. Knowing the nuances of the financing world, I can identify the appropriate lenders and solve problems that usually seem unsolvable.
This was a life-changing event for Bill because he created an investment asset that will generate cash flow and great equity over time — and it’s only 50 bucks more than his rent! This is how you change your life and create your path to financial freedom.
– Greg Watson