BiggerPockets Money29 Jul 2019

83: Buying Your First House with Scott & Mindy

Buying your first home - either an investment or a primary residence - can be scary. This is a HUGE purchase, and no one wants to mess that up. But buying a house doesn’t have to be scary, if you’re properly prepared.

This week, Scott and Mindy sit down and talk about the process - what you need to consider BEFORE you even start looking at houses and what to REALLY look for when you’re looking at houses.

They also talk about different funding options, different purchasing strategies and even different ways to hack your housing to live for free - or make big money when you sell.

If you’re in the market for your first property - or second or third - or you’re just starting to think about buying a house, this is an episode you cannot miss!

In This Episode We Cover:

First step that Scott recommend someone once they decide to purchase a home
Consider exit options
Three possible exit options
Don't buy on a busy street
Don’t put yourself in an artificial urgent state on buying your first house
Don't spend every dime you have on your downpayment
How real estate agents and mortgage brokers are incentivise
On funding
Mortgage broker versus a lender
Adjustable versus fixed rate mortgage
What a mortgage insurance is
FHA versus conventional loan
On house hacking
Credit score on Credit Karma
Pre-qualification versus pre-approval process
How to find a real estate agent
Things to inspect and to avoid on buying your first home
7 step checklist for buying your first home
And SO much more!

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