Justin Colby

Do they, would I have to have my personal residence in Miami already rented out before I made the move?

So did they finance your purchase and rehab on that as well? Yeah, absolutely. So again, getting the worst. So my neighborhood, I literally was just messing around the other day. So I go and buy the $800,000. But let's just say I even have to add square footage. Does it allow for that? Everything. There's really no limit. Let's just use the example. It's $1.4 just like in New York. Sure.

So did they finance your purchase and rehab on that as well? Yeah, absolutely. So again, getting the worst. So my neighborhood, I literally was just messing around the other day. So I go and buy the $800,000. But let's just say I even have to add square footage. Does it allow for that? Everything. There's really no limit. Let's just use the example. It's $1.4 just like in New York. Sure.

Just to keep the example. Yep. As long as I'm all in for the loan at 1.4 or less, it doesn't matter. Additions, add 1,000 square feet, add a pool, whatever. We added 800 square feet to my house. Say that I can add a pool if it didn't have a pool.

Just to keep the example. Yep. As long as I'm all in for the loan at 1.4 or less, it doesn't matter. Additions, add 1,000 square feet, add a pool, whatever. We added 800 square feet to my house. Say that I can add a pool if it didn't have a pool.

I feel like we've seen that story before with 2006, 2007.

I feel like we've seen that story before with 2006, 2007.

Interesting. This is an interesting thing. I would tell you most investors should be looking like you. Ironically, as someone who's a full-time real estate investor, I'm not a big advocate of buying your own home. Yeah, a lot of people aren't. Yeah. And this kind of changes that for me because I think like an investor.

Interesting. This is an interesting thing. I would tell you most investors should be looking like you. Ironically, as someone who's a full-time real estate investor, I'm not a big advocate of buying your own home. Yeah, a lot of people aren't. Yeah. And this kind of changes that for me because I think like an investor.

So I moved to Miami from Scottsdale and we did buy a home because my wife wanted to own the home here.

So I moved to Miami from Scottsdale and we did buy a home because my wife wanted to own the home here.

Fair. But I still look at it as an investment tool because what I just told you, I probably have roughly a million dollars That equity is only useful to me if I go use it. But I have roughly a million dollars of equity in this home. But bankability too, right? It gives me bankability. So in the sense of, hey, we might move somewhere. I want to buy a rental. I want to buy this flip.

Fair. But I still look at it as an investment tool because what I just told you, I probably have roughly a million dollars That equity is only useful to me if I go use it. But I have roughly a million dollars of equity in this home. But bankability too, right? It gives me bankability. So in the sense of, hey, we might move somewhere. I want to buy a rental. I want to buy this flip.

I can go get that money out of my home and use it as a tool as a real estate investor. But this, what we're talking about, actually kind of spins my concept in my head saying, well, maybe everyone should actually buy a home because they have an opportunity to be a real estate investor while doing it, and it doesn't have to be permanent.

I can go get that money out of my home and use it as a tool as a real estate investor. But this, what we're talking about, actually kind of spins my concept in my head saying, well, maybe everyone should actually buy a home because they have an opportunity to be a real estate investor while doing it, and it doesn't have to be permanent.

This loan, you know, you don't go to jail if you leave the home in two years like you did. It allows you to become an actual real estate investor, even buying your own home. And then I would make an argument, everyone should, because if you're adding the value, But just like a flipper or a burr, again, a burr, I want to add so much value, I have equity.

This loan, you know, you don't go to jail if you leave the home in two years like you did. It allows you to become an actual real estate investor, even buying your own home. And then I would make an argument, everyone should, because if you're adding the value, But just like a flipper or a burr, again, a burr, I want to add so much value, I have equity.

And then when you have equity, you have the bankability, and then you can go rinse and repeat this model essentially forever, depending upon your lifestyle, right? I say that this is like the new American dream, right?

And then when you have equity, you have the bankability, and then you can go rinse and repeat this model essentially forever, depending upon your lifestyle, right? I say that this is like the new American dream, right?

you have a you have a pulse and a sign you got a loan approved um that was me by the way i literally yeah i got a six percent hundred percent finance deal top of the market brand new build they didn't care i just like submitted my social security and they're like yeah you're fully approved six percent interest i was like It's wild.