[Music] hey guys welcome back to the channel thank you so much for stopping by if this is your first time here on this channel thank you so much for stopping by and clicking on this video i hope by the end of this video you will consider subscribing to my youtube channel on this channel i make videos about my husband and i's naka journey we purchased our very first home using the naca program and i have absolutely no regrets about purchasing this home but if you are interested in watching our journey on purchasing a home and going through the closing process going through our walk through process then i will leave the playlist somewhere up above and you can click on that and just binge watch all of our videos and to all of our returning subscribers my sisters my brothers my cousins my friends thank you so much for coming back to check your girl out so in today's video i wanted to just come on quickly and let you guys know that i did a little bit more research in regards to purchasing a multi-family unit what a lot of people don't realize is the program is such a great program to use and i'm saying that because i use the program when my husband and i use the program we were able to get a brand new four bedroom construction home with only given our earnest deposit of 7 500 and that is what the builder required so the builder required us to put down 7 500 as earnest money so at the time of closing all the necessary fees that i had to come up with came from my earnest deposit so my earnest deposit was such a large amount that i received a refund back at closing almost two thousand dollars back at closing so i always vouch for the program yes i know i know that the naca program in some instances has a bad reputation in regards to how long the process takes sometimes people miss out on homes because the program takes forever but i didn't have that in my case i didn't experience that um my home was being built as me and my husband were going through the program once we were approved my home was a brand new construction home so the timeline that the building gave us is what naca went by and our home was scheduled to be completed on april 13th and we closed on april 13th as you can see i have a i have a sign back here and my sign says home established back on april 13th and that is when we closed april 13th of 2020. so it's almost been two years but i will always vouch for the program because if you are one of those type of people or individuals and you struggle with your credit you struggle with money being able to have a 20 deposit or down payment if you're trying to go the traditional route or if you just don't know where to go or where to start and you need something for a first time home buyer or if you are just interested in using a first-time homebuyer program opposed to going through the traditional route i always tell people about the naca program because it's such a great program and it has so many great benefits that people really don't know you have to actually literally tap into it in order to discover the many wonderful benefits that it has and no i do not get paid by naca to share this information um i just choose to share because here on this channel i want to make sure that you guys if you are trying to purchase your very first home like i was i want to make sure that you guys are getting the necessary information that is going to help you in the long run so all i ask in return is that you subscribe to my channel and like my video and make a comment or two down below in the comment section to just let me know that you are interested in these videos and you like this type this type of content but what a lot of people don't realize is that the nectar program is such a great program one of the things that i was doing some research on recently was about the multi-family units that people don't really understand or people are not realizing that you can purchase a multi-family unit but there are certain things that come along with that process such as becoming a landlord you will in fact become someone else's landlord if you purchase a multi-family unit if you decide to purchase a multi-family unit you will in fact have to go through a training to become someone else's landlord if you have never done this before a lot of people don't realize that becoming someone else's landlord you are now operating and owning a business it is definitely a business and in order for you to use the naca program to purchase a multi-family unit you have to attend some type of training and naca your mortgage counselor will let you know all of that information once you start going through the motions of becoming qualified to purchase a multi-family unit so purchasing a multi-family unit you will have to attend the training the training will assist you in knowing the in and outs of becoming a landlord being able to understand the tenant landlord laws that come into place because there are many laws as you become a landlord and rent out your unit to other tenants there are so many different laws that you need to know about you need to understand that tenants have rights as well so you need to understand both sides of the equation and that training session that your mortgage counselor will advise you on will give you the ins and outs of what it takes to become a landlord what it takes to be able to handle disgruntled tenants because trust and believe if you become a landlord you will have a disgruntled tenant and you will have to know how to deal with that disgruntled tenant you may have to file an eviction on somebody for failure to pay rent so you want to make sure that you are attending or you attend the training session that naca has to offer you if you decide to purchase a multi-family unit a lot of the times people don't realize that you can purchase a multi-family unit that may have more than two units inside of the building so some people are interested in purchasing a standalone building that has maybe three or four units inside which is definitely possible some people may be interested in purchasing a brand new construction multi-family unit and if you are interested in purchasing a multi-family unit that has at least four units inside of a building then you may have to find a developing community that the builder is developing and the builder will then have to use their financing and you will have to purchase a construction loan which is separate from naca you cannot purchase a separate construction loan using the program you have to go elsewhere and then once you have that then you can come back through the naca program to use to purchase your own home but it will be a separate loan so your separate construction loan will actually pay the builder who financed the multifamily unit so if that is the route that you choose to take you have to definitely let your mortgage counselor know i'm not going to sit here and pretend like i know everything about it because i don't but i just wanted to let you know that based off the research that i did it is definitely possible but you gotta have coins up you gotta have them coins up because it is not going to be cheap if you are thinking about purchasing it brand new then you definitely have to have your coins up for that also you want to keep in mind that if you are going to be purchasing a mo a multi-family unit let's say you want to purchase a duplex so duplex is considered a multifamily unit so you will be required to live in one of those units while you rent out the other unit keep in mind that you will have to find a tenant in order to pay that other part of your mortgage so until you can find a good reliable tenant please keep in mind that you will be responsible for paying the mortgage on the entire unit so once you find a good reliable tenant then guess what your tenant will be paying your mortgage or majority of your mortgage for you so that is one of the win-wins to purchasing a multi-family unit using the program because if you can find a decent multi-family unit that is going to be very inexpensive as far as your mortgage then your your your tenant can be paying your mortgage every month and then the money that you're getting from your tenant you could be putting that in your savings and stacking it up stacking it up and then eventually pay off your unit your multi-family unit in a few years you have to think about it you are operating and owning a business so you have to keep in mind that you have to be strategic when it comes to purchasing a multi-family unit i also want to let you know that i was thinking about this and i haven't done my research on this but if you are familiar with the section 8 program then this is another good way to go if you are thinking about first of all purchasing a multi-family unit using the naca program let's say you have purchased the unit and so you are looking for a good reliable tenant you do your research you do your research and you come across the section 8 program so with the section 8 program that participant has a voucher let's say the participant has zero income so now section 8 is paying all of the rent for the client or your tenant so now you are renting your other unit to a participant that is currently on the section 8 program who is not responsible for paying any rent to you the landlord but now the section 8 program is paying all of the rent that you have set for that unit directly to you how wonderful is that oh my god how wonderful is that and i'm just thinking about this as i'm sitting here talking to you guys so listen to me if y'all don't do nothing else do your research do your research and i'm getting excited about that because do you know that if you have a multi-family unit and you rent that unit out for a thousand dollars and you find a participant that has a section 8 voucher and you set your rent to twelve hundred dollars you are making not only your profit but you are paying they are paying your rent your mortgage for you so that is such a win-win situation that y'all got to get into and y'all have to think about the fact that if you ever want to own and operate a business and you are also wanting to purchase a home what better way what better way to go through the naca program and purchase a multi-family unit and rent your other unit out to somebody else what better way so yeah i hope that today's video has inspired you to think outside of the box because we all want to become financially free we all want to have a reliable source of income we all want to have multiple streams of income and what better way to gain multiple streams of income by going through the naca program purchasing a multi-family unit if you can and then renting your unit out to someone else and then thinking about renting it to a participant that has a section 8 voucher so i hope that you guys have enjoyed today's video like i'm sitting here thinking about that like dog i just gave out some free game to somebody and i hope that you guys will accept it i hope that you guys have enjoyed today's video if you have any questions make sure to leave them down below if you have any questions in regards to how the section 8 program works let me know i might be able to help you and i hope that you guys will consider subscribing to my youtube channel and i hope that you guys consider giving this video a big thumbs up and sharing my content as well and i will see you guys in my next video bye bye