Did you hear the latest news from the Federal Housing Administration about financing ADUs, which stands for Additional Dwelling Units?
In the past, lenders couldn't consider rental income from these ADUs, making it tough for buyers unless they were all-cash purchasers. But here's the exciting update: Starting now, you can purchase these properties more easily. For ADUs that are either not built yet or in need of a complete remodel, you can use an FHA 203K loan.
The best part?
They now count 50% of the income from the ADU in your qualification. And if it's an existing ADU, they'll consider up to 75% of the rental income!
This means it's a lot more accessible to buy such properties.
So, if you know someone who owns an ADU, let them know it's now easier to finance and sell.
And for those of you with buyers seeking these types of properties, whether it's for a second family situation, this is fantastic news to share on social media and discuss with your clients. I hope this update proves helpful.
Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?
+ 32 Years of Real Estate Sales, Management, and Coaching Experience
+ Top 1% REALTOR Himself (he has been in the trenches)
+ Opened his First Real Estate Company at 23
+ Grew his Real Estate Company to 17 Offices (largest in Oregon)
+ His Current Team Closed $1.4 Billion in Sales in One Year
+ He is a Current Real Trends Top 500 Broker
When you work with Jim there is no "team" of coaches - you are being trained by Jim and tapping his knowledge and experience.
When your office or team joins our brokerage coaching platform, every agent at your firm will tap into our training and coaching resources.
These benefits include:
20 Weeks of On-Demand Lead Generation Coaching: Access our extensive coaching program, offering daily guidance for 20 weeks, empowering your agents with proven lead generation strategies.
Extensive Downloads Library: Gain access to a vast collection of resources, including scripts, texts, emails, drip campaigns, checklists, systems, forms, and more, all designed to enhance your agents' productivity and success.
Marketing Assets: Stay at the forefront of real estate marketing with new social media and digital assets delivered to your team on a weekly basis, ensuring you have the latest tools and strategies to effectively reach your target audience.
Live Monday Coaching: Kickstart your week with our live Monday coaching sessions, where we deliver the biggest and brightest ideas in the industry. Gain invaluable insights and stay ahead of the curve.
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At eRealEstateCoach.com, we are committed to helping you and your team thrive. Productive agents become raving fans helping you attract the top talent in the industry.
Visit https://www.erealestatecoach2.com/explorecoaching to learn more.
Jim would like to talk to you about your real estate business with a complimentary 30 minute coaching session.
During the call be prepared to discuss - Your goals for the next twelve months. Your time management and priority management strategies. Your willingness to change and adapt to a changing market landscape, and your biggest choke points - what's really holding you back
The road to transformation starts with small steps. Take your first towards a better real estate business today...