On this podcast episode Ryan Lee from Planet Cheapskate and I are talking about real estate investing with rising mortgage rates. Right now rates are rising, so we wanted to discuss how the everyday person can start investing even in this market. Check it out!
Check out Ryan's channel @planetcheapskate on YouTube
Recommended Readings: The Prosperity Bible- https://amzn.to/3gNxRdi
Get More from Jamel Here: https://linktr.ee/jamelgibbs
Timeline:
0:00 Intro and Summary
1:51 About Ryan Lee
5:13 What’s different about Ryan’s YouTube channel
7:14 What’s the benefit of knowing the current interest rates?
8:29 What is Par Rate?
9:51 What are loan level price adjustments?
11:58 What’s the benefit of a real estate investor working with a mortgage broker?
14:56 What are basis points?
15:32 How much of a percentage does a basis point represent?
18:08 How do you feel rising mortgage rates will affect pricing and speed of home sales?
22:13 What’s the difference between interest rates and mortgages rates?
24:06 How to buy rental properties using mortgage brokers?
25:38 What’s the Home Ready Home Possible Loan?
29:22 Is it wise to cash out refinance your personal residence to buy an investment property?
30:21 What are the score requirements to get a mortgage?
35:31 Clarity on the first time home buyers program
44:19 Recommended reading
47:55 Last words from Ryan Lee and closing comments
