On today’s podcast we are joined by Francis. He works full time in Chicago as an engineer but has started a small real estate portfolio worth over $1 million in the last few years. We discuss the following topics:
- Homeownership in your 20s.
- How to prepare to buy a house/condo
- Using the app Cozy for management of his property. It is helpful to be a handy homeowner but it is not required.
- NACA – a potential vehicle to cover your down payment if you qualify.
- What low down payment options are available?
- 30 year loan vs 15 year loan
- Good real estate agents
- Purchasing a 4 unit owner occupant Multifamily
- Stocks vs purchasing Real Estate, which is better. The equity amassed in a year can often times outweigh the ROI on the stock market.
- Tax Advantages (living expenses become tax deductible) , More likely to get a better return, Eliminate living expense and Cashflow, don't have to sell real estate to reap benefits
- Managing an Airbnb business
