Financing a Small Multifamily Property! Benefits of House Hacking

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 Chat with Katy Sychterz, Princeton Mortgage (NMLS #183951, PA NJ DE) about your loan options at: 👉Call/text: 610-247-2894 📨 ksychterz@princetonmortgage.com ➡️ https://www.katysychterz.princetonmortgage.com/ DOWNLOAD THE ULTIMATE REAL ESTATE INVESTOR'S READINESS CHECKLIST 📓Ask yourself the right questions early to avoid making 5- or 6-Figure mistakes while building your rental property portfolio: https://dwoodsrealestate.com/21-questions-investors/ SIGN UP FOR AN UPCOMING NEW INVESTOR WORKSHOP 👩🏽‍🏫This is for busy professionals who want to buy their first rental property without worrying about getting stuck in a deal that will leave them broke: https://dwoodsrealestate.com/new-investor-workshop/ Get THE ROADMAP TO FINANCIAL FREEDOM TRAINING FOR RENTAL PROPERTY INVESTORS: 🗺️Go from “thinking about it” to buying rental properties: http://rentalportfolioempire.com Let's chat about buying, selling, or managing Philadelphia real estate: 👉Call us: (610) 872-7926 📨: veronica@dwoodsrealestate.com 📆 New Investor Discovery Call: https://calendly.com/veronica-dwre/discovery-call 📆 Rental Income Strategy Session: https://dwoodsrealestate.com/pm-strategy/ 📆 Seller Consultation: https://dwoodsrealestate.com/home-seller-strategy-session MUST WATCH PLAYLISTS: 🏘️Check out our investor playlist: https://rebrand.ly/newinvestors 💲Check out our seller playlist: https://rebrand.ly/Phillyhomeowners GET MORE TIPS: 📨If you want to get more real estate wisdom beyond the videos, sign up for my email list (sent 2x a month): https://dwoodsrealestate.com/subscribe ABOUT VERONICA I am proud to work with my dad, Daniel Woods, and continue the legacy of Daniel Woods Real Estate, where we have been advising clients in the Philadelphia area since 1987. I am a natural connector who loves matching buyers and sellers, foodies with restaurants, and those in need of professional/career introductions. My passion is to help more people use real estate to create wealth, build a legacy, and design the lifestyle of their dreams.