Silicon Valley Bank collapsed suddenly and now investors are worried if it will cause a broader banking meltdown. However, the US government has stepped in to guarantee customer deposits. This event has created ripple effects across the global financial market. A regional bank called Signature Bank also got closed down, and its deposits were guaranteed by the US federal government.

US President Joe Biden addressed the nation, assuring that our banking system is safe, and they will do whatever necessary to ensure the same. Silicon Valley Bank was the 16th largest commercial bank in America, providing banking services to nearly half of all US venture-backed technology and life science companies. The bank’s assets and deposits tripled in recent years, with a global headcount more than doubling. Silicon Valley Bank failed due to several years of investment in US government bonds during the era of near-zero interest rates.

The Fed’s hiking spree sent borrowing costs higher, forcing companies to draw down on deposits held by Silicon Valley Bank. The bank’s problems were triggered on Wednesday when it announced that it had sold securities at a loss and would sell new shares to plug the hole in its finances. This caused panic among customers who withdrew their money in large numbers, triggering a bank run. US regulators have guaranteed all Silicon Valley Bank customers’ deposits to prevent more bank runs and to help tech companies continue to pay staff and fund their operations.

This intervention does not amount to a bailout, so investors in the company’s stock and bonds will not be protected. There are already some signs of stress at other banks, but analysts believe that US and European banks have much stronger financial buffers now than during the global financial crisis.

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So, if you’re someone who’s been thinking about investing in real estate in 2023, this episode is perfect for you. Henry and I are going to chat about incredibly easy ways to buy your first investment property in the new year. And not only that, but we’re also going to discuss how he plans to scale his portfolio to over 100+ properties in a post pandemic society.

One of the things that I love about Henry is that he’s all about helping people get started in real estate investing, even if they don’t have a lot of money. In fact, he’s going to share some tips on how to buy real estate with low or no money down by leveraging credit unions and community banks.

I know that investing in real estate can seem intimidating at first, but trust me, it’s not as complicated as it may seem. And with Henry’s guidance, you’ll be able to get started on the right foot.

So, sit back, relax, and get ready to learn some amazing tips from Henry Washington. And if you enjoy this episode, be sure to hit that thumbs up button and share it with your friends who might be interested in real estate investing too. Let’s dive in!

Rich Dad Poor Dad By Robert Kiyosaki-https://amzn.to/3m0ihkg
Rental Property Investing By Brandon Turner-https://amzn.to/3lXjngT

Timestamps:
Introduction-1:55
How To Build Your Warchest-4:53
How He Started-9:48
The power of 401k Loans-20:32
Lessons Learned-22:39
Henry’s Current Portfolio- 30:07
Why Henry’s mostly a “Buy & Hold Investor-39:06
Start where you are-47:19
What Henry calls a “good deal”-54:54
The 70% Rule Of Real Estate Investing-1:12:15
Advice To New Investors-1:20:10
Final Thoughts-1:24:50

Shownotes:
Follow Henry on Instagram:
Henry: @thehenrywashington
Website:https://independencerealtygroupnwa.com/
E-course :“ How to finance deals with little to no money out of pocket utilizing small banks!”
Link:https://gum.co/HTfpV
Use the code ‘early’ at checkout to get the course for $30 vs normal price of $50.

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Down payment assistance programs can be a game changer for first-time home buyers. These programs provide financial assistance to help with the initial costs of buying a home, making it more affordable for those who may not have the savings or resources to cover a large down payment. I chat with my friend Gustavo, who is one of the my partner lenders to discuss some of the great options folks may not know about.

You never want to leave money on the table so today’s podcast is filled with tons of actionable nuggets for buyers. This can be especially helpful for those who are struggling to save for a down payment or for those who are trying to buy a home in an expensive market.

The thing is, most people don’t take advantage of these programs. They may not know they exist, or they may think they don’t qualify. But the truth is, there are a lot of different programs out there with different eligibility requirements, so it’s worth checking into.

5 Nationwide Down Payment Programs

1. FHA loans: The Federal Housing Administration (FHA) offers a variety of loan programs that can help first-time home buyers with a down payment as low as 3.5%.
2. USDA loans: The U.S. Department of Agriculture (USDA) offers a loan program for home buyers in rural and suburban areas with no down payment required.
3. VA loans: The Department of Veterans Affairs (VA) offers a loan program for eligible veterans, active-duty service members, and certain surviving spouses with no down payment required.
4. Good Neighbor Next Door program: This program is offered by the Department of Housing and Urban Development (HUD) and provides a 50% discount on the purchase price of a home for certain law enforcement officers, teachers, firefighters, and emergency medical technicians.
5. HomeReady and Home Possible programs: These programs are offered by Fannie Mae and Freddie Mac, respectively, and provide down payment assistance to low- and moderate-income home buyers.

Some programs are specific to certain states or areas, while others are available to anyone who meets certain income or credit requirements. So, it’s worth doing your research and seeing what’s out there. Another reason why people don’t take advantage of these programs is because they think the process is too complicated, but it’s not. Many of the programs are actually really easy to apply for and the steps are simple to follow. Plus, there are a lot of resources available to help you through the process. So, don’t let the fear of the unknown stop you from exploring your options and seeing if a down payment assistance program could help you achieve your dream of homeownership.

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