So last year a big driver of
home sales were by investors,
but now with interest rates going up,
hedge funds are not buying
as many properties.
And that means this could be a
great time for a regular Joe or
Chris to get in on the action and
and build some generational wealth
by buying an investment property.
Real estate expert and CEO of Chris Lindahl.
Real estate is here.
Chris, Linda, how you doing, man?
Thank you for having me, Chris. I appreciate
it. No, we appreciate you.
And this is a big topic dejour right
now for people. And it can be a
little bit intimidating I guess.
You know someone has one home,
you have a mortgage, it's hard to
keep up with some bills, whatever.
And you think about oh geez, how do I,
how do I pay for an investment property?
What's the first thing someone should do if
they're even interested in getting started?
Yeah, I think there's a
huge opportunity right now,
right with rates that that have have went
up quite a bit and like you mentioned
hedge funds pulling out of the market,
there's there's less competition.
And between those two things,
I think the other thing is that people
don't understand especially in multifamily.
The same multifamily typically under 4 units.
You can use the rent of the other
units to qualify for mortgage to
purchase that multifamily property.
Say that again. Yeah.
So you can use the rent,
OK, of the other,
the cash flow from other units
in the house, you can use that
to qualify for the mortgage.
And so here's what we saw
over the past several years.
We worked with a lot of people
that couldn't, you know,
let's say they were looking
for a 3 or 400,000 house and it
was so hot and so much demand,
they couldn't find it.
So we went over to a multifamily property of,
let's say 800,000 and they were
able to use the rents from
the other units to qualify,
right. But if you don't already
have the property, how do you use
that money as liquid for your loan,
so once you get a property?
Under contract with your with
your mortgage professional you
use the the rents of whatever
they believe those rents to be.
A lot of times there might be leases in
place yeah you use those to qualify for it.
So it's a it's a great way to
build net worth as well right.
So it's not only it's not only
getting into a property that's
affordable for you but you're
building net worth and the best
part about it is you have another
one tenant or multiple tenants that
are paying your mortgage to build
your net worth which is a great way
to to it's it's the best way to do
it. It's a great. Set.
You're using other people's cash flow
into you as your down payment or
whatever for your loan essentially.
That's right. And also on the
single family side as well,
I think what the hedge funds point out,
a lot of homeowners became very accustomed
to a convenience way to sell their home,
right, not wanting to do all the repairs
that decluttering all the things,
avoiding open houses, things like that.
That's why Chris Lindahl real estate
has the guaranteed cash offer and the
the demand for our program has went
up significantly because of those
hedge funds pulling out of the market.
So you see it on the single family side
and also on the multifamily side as well.
Yeah. So you're a realtor and a
famous realtor in town at that.
You got the Billboard thing and the big hug.
I'll give you a big hug later.
But what do you do with all those home then?
So you give a guaranteed offer to someone,
which means if no one buys their house,
you buy their house, right.
And then, so do you collect these
properties and then rent them
off or what do you do with them?
Is it a second business?
Of course.
So we do a lot of different things.
It's a service for the homeowners.
Some of them that we do renovations
and turn around and put them
back on the market and some of
them were interested in holding
and turn them into rentals.
And so we're really excited about
this market and we're actively,
you know, pursuing.
As many properties as we
can get in the market,
I would encourage everyone
else to do the same
thing. If somebody does end up buying
their first investment property,
do you recommend that they manage
the property themselves or is
that something you can lease out
to a company to do this? There's
a question that we get all the time right.
A lot of times people want to, you know,
save money and try to do it themselves.
But I would always say, like,
if if you're going to do one investment
property and you've never done it before,
the stakes are pretty high,
I would highly recommend getting a
professional to do that for you.
Because if you don't know
what you don't know, right?
And it, it can be risky and especially
when you're putting your money on the line.
You know, a lot of times there's a
mortgage and credit and all those things.
It's really important to get
a professional to do that.
OK, that's good advice.
Well, thank you so much.
We appreciate you coming on this morning.
I appreciate. Thank you, Chris.
Absolutely. So Chris's advice,
along with a link to his
website are on care, lovin.com.
All you gotta do is click on shows,
then Saturday.
Thanks again, Chris.
Thank you.