Buying your first real estate investment with 3.5% down...You can do it!
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 7 September 2022
⏱️ 48 minutes
🧾️ Download transcript
Summary
To learn more about Matt follow his instagram account at this link: https://www.instagram.com/the203kway
Want to ask Ken a question? Join his Inner Circle: https://kensinnercircle.com
Looking to buy your first rental property or grow your investments? Learn from Ken: https://kenmcelroy.com/buying-your-first-multifamily-property-master-course
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Visit Ken's Bookstore: https://kenmcelroy.com/books/
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This channel is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive. Ken's company: https://mccompanies.com/ • DISCLAIMERS: Any information or advice available on this channel is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this channel. Consult a financial advisor or other wealth management professional before you make investments of any kind. Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’ Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.
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#kenmcelroy #FHA203Kloan #realestateinvesting
Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything |
| 0:07.8 | real estate with the industry's biggest movers and shakers. I'm your host, Ken McElroy, joined by my |
| 0:13.9 | co-host, Daniel. Let's get right into this episode. Hey, everybody, it's Ken and Danile. |
| 0:19.0 | Hello. And we're excited to have Matt Porcaro on today because he's discovered a little niche, which |
| 0:26.2 | a lot of you guys I talk a little bit about, but we haven't really had done a deep dive |
| 0:30.5 | on this subject. |
| 0:31.5 | But there's a lot of really cool government programs out there, really, really good ones |
| 0:35.9 | for veterans and rehab and non-rehab and |
| 0:39.4 | long-term and short-term and even small business owner type stuff. But today we're going to talk |
| 0:45.0 | about the 203K loan, which is a loan that Matt found out about, which enables you do a really low down payment and a lot of other |
| 0:56.3 | things. He made a lot of money on it. Matt, welcome to the show. Thanks for having me. I'm excited to |
| 1:01.0 | be here. I've been a listener myself for a long time. So very excited to be here and shed some light on |
| 1:06.9 | this thing that got me started in real estate investing. You know, it's funny. Like, everyone has this question, like, how do I get started and I don't have the money, right? |
| 1:14.4 | And you solved it by finding this loan. |
| 1:17.0 | So that's why I'm really excited about this show because this $203K is a great loan. |
| 1:22.1 | It's a little like a FHA, you know, conventional loan. |
| 1:24.4 | But a little bit different, but also you can finance all your rehab costs, |
| 1:28.9 | which is what kind of kills a lot of people in these loan products, because once you buy it, |
| 1:34.5 | then you have to have all the extra money to rehab it. And this one is all one loan. |
| 1:39.5 | Yeah. Yep. It's really, when I first heard about it, I honestly thought it was too good to be true. |
| 1:46.1 | So, so the fact that, the fact that it's not talked about enough is, is something that I've been |
| 1:52.3 | trying to, to get out there. And there's a lot of myths and things about it, but that's stuff we |
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