Strategy I used to buy my mom a home #goals #realestateinvesting #realestate
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Summary
AI-generatedJorge shares how he bought his mom a house by having a friend take out the mortgage in their name with a gifted down payment, and then later refinanced the house under his own name once his income allowed it. He learned it was possible to have two escrows at the same time, and that gift funds can be used when putting 3.5% or 5% down.
Key insights
When buying a property with 3.5% or 5% down, you can use gift funds.
Mistakes to avoid
The host was initially unaware that it was possible to have two escrows open simultaneously.
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial