“Make sure you’re going to like the house”
Pedro’s mother completed our home buyer training program back in 2014. She also completed our landlord training program before purchasing a 2-family home that same year. She told Pedro how the classes had helped her. He was also interested in purchasing a multi-family property so he decided it was the right time to take the classes.
Pedro said, “I didn’t want to go in blind. I wanted to know all the steps since this was going to be the biggest purchase of my life.” He took the class in July of 2018. He learned many things classes such as “preparing for the mortgage application process, the timing of when things had to be done and by whom and what to look for.”
Shortly after completing the training he met with our homebuyer counselor for a home readiness assessment. As a professional in the financial field, Pedro said “that the assessment was critical in putting the financial picture into perspective and helping me to decide which loan products were available, what would best suit my needs in the short and long term.”
The next step was to complete the landlord training course which he completed
in August of 2018. Pedro wanted to be as knowledgeable as he could since this was an “investment”. He learned about tenant selection, security deposits, types of leases, and advertising. He also learned how to avoid legal issues and evictions. Pedro purchased his 2-family home in September of 2018.
Some words of advice he gives are, “Make sure you’re going to like the house five years from now and make sure the numbers work long term.”