Todd: Hello! Welcome to Todd Miller TV. Joined here today with Lender Troy Weatherly, with guaranteed rate mortgage. And Troy doesn’t exactly know what we’re gonna talk about, I’m surprising him a little bit, put him on the spot. So this is great opportunity for a person that a lot of people don’t realize, okay? And it’s about four flexes and FHA Loans. So here’s the scenario, A lot of people get an FHA Loan to buy a house. Well, one of the restrictions with an FHA Loan is you can’t go buy an investment property with it. But there’s actually this is not really true. You in a way you can. So, I’m gonna let you tell them how they can buy an investments property with an FHA loan and how that works. Troy: Sure! And a good Loophole. So basically like Todd said with an FHA Loan it’s designed for Owner-Occupied purchases. However, when you buy a four flex, provided you occupy one of the four units, you can buy this as a primary residence, use an FHA Loan, put the minimum 3 and a half percent down, and then actually use rental income from the other 3 units that you’re renting to even help you qualify to buy that home or, if you qualify without the income, great! Now you just created Cash flow in the other 3 units for yourself. Todd: Okay, so let’s go through a scenario. As you can hear you’ll be able to give some numbers made. Okay so will take a $150,000 four flex which is a/gonna be a descent four flex, okay? $150,000 four flex, how much would they have to put down? Troy: 3 and a half percent. So, roughly 4,200/$5,200.. Todd: $5,200. The 3 units/So units in a four flex like that would rent for, 650. So you would probably get roughly $2,600 a month if they rented all the units. But they’re not going to ’cause you’re living in one. So if they’re gonna live in/rent 3 them they’re gonna be at 1,950. So how much of that 1,950 would go toward their/what percentage of that would go toward the qualification on the payment? Troy: 75%. Todd: 75%, so they would/So 75% of 1,950 is gonna be about what? 13? Troy. Yeah. Say $1,400 yeah. Todd: $1,400 is gonna go toward that, so $1,400, how much is the payment on a loan for 145? Troy: On the high side, I would say you know, 1,100-1,200. Todd: Of a high side? Troy: Yeah. Todd: So, there are ready cash low positives. Troy: Correct. Todd: Even/just the qualifying part. Troy: Right. Todd: They actually, in reality, they rented the whole thing, they could manage themselves ’cause they live right there. They just go know on the door and say “pay the rent” and they wouldn’t have to hire an agent. Troy: Right! Todd: They could if they wanted. Troy: Right! Todd: Why don’t more people do this? I mean, you’re living for free, you’re getting a loan, other people are making the mortgage payment, you’re actually making money from it, and you’re living for free. Why do you think people don’t do this like crazy? Troy: The only thing I can think of is this is, they just don’t know it exist. Todd: Okay. Alright. If somebody wants to call you for like a prequal or to find out the math part of it, what they have to do qualify if they even qualify to do this? Then how do they get in touch with you? Troy: Sure! They can get in touch with me in one of two ways. Either directly on my cellphone, 702-308-9821. Either phone call or text message is great. Or, e-mail me directly firstname.lastname@example.org. Todd: Okay. If you click on Lender or Loans or something on the ToddMillerTV.com , his information will come up. You’ll be able to see it there. Anyway, I thought I would share that with you, Thank you very much for being out here, I put on you on the spot and he nailed it, right? Troy: Thanks! Todd: He did and he had no clue what I was gonna talk about. So anyway, that’s the update for today. This is a huge opportunity for anybody to really take advantage of and, so I thought I would share that with you, that’s the update. Hope to see you on another video. Thanks! Troy: Thanks!