Welcome to the March episode of Investor Insights With Brie Schmidt!

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Brie Schmidt is one of the most well-respected buy-and-hold investors in Chicago. Each month we’ll be discussing an investment topic brokers should master.

This month we’re talking about house hacking, the principle of buying a multi-unit, living in one unit, and having the other tenants pay the mortgage. Brie talks about loan limits for conventional (20%) and FHA (3.5%) for multi-unit investments. She also shares the Home Possible program (by Freddie Mac) with allows for a 3% down payment based on borrower’s income relative to median income.

Links discussed in episode…

HomePossible Program Details

Conventional and FHA Lending Limits

Use coupon code REAL for a discount on Midwest Real Estate Summit on June 1-2 in Chicago. Click here for details!

Transcript

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Hello, and welcome to another episode of Keeping it real the only podcast made by Chicago real estate brokers for Chicago real estate brokers. And I really should stop saying that because we have people listening from all over the country, but we do focus predominantly in the Chicagoland market but we welcome listeners from all over today is the newest episode of our monthly series investor insights which we paused briefly last year and we just got too busy and so we are so excited to continue this speeds it’s the number one most requested feature on our show that we sadly just weren’t able to do for a while so we are so excited because we have a brand new host of the series and she if you are involved in the investor community, whether it’s nationwide or here in Chicago, you probably have heard of the name Bree Schmitt, she has all over bigger pockets. I call her the queen of bigger pockets. So if you’re a bigger pockets person, you probably have come across her or you certainly will. After listening to her today. Let me tell you a little bit about Bri Bri acquired her first investment property in 2011. She left the corporate world in 2014 when she became a full time real estate investor. Bree is the managing broker for own firm which is Second City Real Estate, a full service brokerage, working with new investors and also seasoned investors looking to expand their knowledge of the industry and their portfolio. abri utilizes her extensive knowledge of building and managing a portfolio to teach clients and brokers all about aspects of buy and hold investing.