As you or your children graduate from College and head into the workplace it may be time to think about the value of savings and investment. Real Estate has been a means to building generational wealth / retirement and it’s one of the simplest and most economic ways toward gaining a head start.
Did you know FHA allows first time buyers purchase up to a 4 unit residential unit with only 3.5% down? Plus local governments offer down payment assistance programs to cover the down payment and closing cost too? The only requirement other than income is a 640 score. If you’ve just graduated from College and have received a written job offer we can get you financed with your Offer Letter, your first paycheck stub and a copy of your school transcripts. You’re required to occupy one of the units and can use 75% of the rents on the other 3 units to help you qualify. This is often cheaper than rent, your payments go toward paying off the financing and you will own the units in 30 years. This is a much better solution than paying rent while paying off someone else’s investment! At that point you will probably have a different primary residence and you’ll have a free and clear 4 unit building receiving finance free rents as a primary source of income for an early retirement.
It’s never to early to begin working on your wealth and retirement portfolio. With almost
no money out of pocket and taking on a housing payment that you would generally be paying in rent, it’s a quick and easy way to get that process started. By the time you retire the average rents could potentially yield you $10,000 income each month.
Call today to get the conversation started. At HomeStart we handle the financing, down payment assistance and Real Estate procurement under one roof, simplifying the process further. Happy Graduation and we look forward to building a lifelong partnership with you in your Real Estate Investments and beyond!