Financing Multiple Properties with Only One Salary | PREI 239
Passive Real Estate Investing
Real Estate Investing with Marco Santarelli, Investor and Entrepreneur.
4.6 • 968 Ratings
🗓️ 19 May 2020
⏱️ 11 minutes
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| 0:00.0 | Welcome to passive real estate investing, the show where busy people like you learn how to build substantial passive income while creating wealth for the long term. |
| 0:10.0 | And now here's your host, Marco Santorelli. |
| 0:15.0 | Hello, my friends, and welcome to another episode of Ask Marco, |
| 0:17.9 | where I answer your investing related questions. |
| 0:21.1 | Today's question comes from Carlos, and says, hey Marco I recently found your |
| 0:24.9 | podcast that have been eating episodes trying to get myself educated on real |
| 0:30.2 | estate and passive income. While following a lot of these episodes there is one |
| 0:34.7 | question that keeps popping into my head. How can I get financing for two, three or say |
| 0:39.3 | even six or seven properties as years go by and I save enough money to keep acquiring more houses, but my salary |
| 0:46.0 | does not change much over the same number of years. Let me explain with an example, and I am to borrow you're always easy to digest |
| 0:54.6 | $100,000 example to illustrate my point. Let's say I make $100,000 a year from my |
| 1:00.6 | regular jobs salary. |
| 1:04.0 | Let's assume I already have a mortgage on my primary home and a second one on an investment |
| 1:08.5 | house. |
| 1:09.5 | I am able to save $20,000 from my salary every year, which conveniently enough it represents the exact |
| 1:15.7 | down payment needed to buy one $100,000 house every year. |
| 1:20.3 | The problem is my salary doesn't go up very much every year. |
| 1:23.5 | To make things simple, let's say it remained unchanged for the next five years. |
| 1:28.5 | In those five years, I would be planning to purchase five $100,000 houses, which would bring the total count of |
| 1:35.9 | mortgages under my name to seven. In addition, let's say the first two houses I acquire have enough |
| 1:41.5 | equity to tap into because of their growth in the last few years. |
| 1:45.9 | At which point it could give me access to purchase another two houses bringing the total number |
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