Michael Doherty

🏡 Helping buyers, sellers & investors build wealth 📈 Realtor | Real Estate Investor | Podcast Host 🎙️

[Michael Doherty @MikeDohRE]

A client came to me 6 years ago wanting to sell his house because he was moving in with his significant other.

After asking a few questions, I realized he had a 3.5% interest rate and a very low mortgage payment. I told him instead of selling, he should keep the property and rent it out. Based on the numbers, he could cash flow about $1,500/month.

I turned down the listing because it was the right advice.

That was 6 years ago.

Since then, he’s made over $100k in cash flow and gained another roughly $150k in equity through appreciation.

We’ve also gone on to close 8 more properties together since then.

Being a realtor is more about being a consultant than a sales agent.

The best long term business comes from giving people the right advice, even when it doesn’t benefit you in the moment.

[Michael Doherty @MikeDohRE]

💰 2. TURN YOUR RENT INTO A DOWN PAYMENT

Here’s a hack most renters don’t know:
You can use the same money you’re already paying in rent to qualify for your first home.
Let’s say you pay $2,000 a month in rent, that’s the same payment as a $350k mortgage.
So instead of saying “I can’t afford a house,” the real question is....
why not make that payment to yourself?

There are low down payment loans, 3% down options, and programs that cover closing costs.
Your rent is proof you can handle the payment, it’s time to make it work for you.
Comment RENT below if you want to see what you qualify for.

[Michael Doherty @MikeDohRE]

🔑 STOP TRYING TO TIME THE MARKET

Real estate isn’t the stock market — there’s no “perfect time” to buy.

If you buy when rates are high — prices are usually lower.
If you buy when rates are low — prices are usually higher.
Either way, you’re trading one for the other.

The winners are the people who just get in and let time do its thing.
Because every year you wait, you’re paying off someone else’s mortgage instead of your own.

[Michael Doherty @MikeDohRE]

Let your assets pay for your liabilities.

[Michael Doherty @MikeDohRE]

Recently won a home for my client that had over 20+ offers with one simple strategy: We released $5K of the $10K deposit non-refundable upfront. Everyone matched on price and waived contingencies—but we were the only ones to give the seller guaranteed cash upfront.

[Michael Doherty @MikeDohRE]

Hartford's Connecticut Market is Booming: Hartford has been recognized as one of the hottest housing markets for 2025, characterized by strong demand and limited housing supply, leading to fierce competition among buyers.
https://t.co/L9NyhEBqqf

[Michael Doherty @MikeDohRE]

One of the best ways to get started investing in real estate:
House Hacking- Buy a duplex/triplex/fourplex... live in one unit ... rent out the others.

You can do this with as little as 3.5% down (FHA Loan) or 5% down conventional.

[Michael Doherty @MikeDohRE]

2. Another way to maximize your DTI is to use some of your down payment to eliminate another debt. List out all your debts and balances to see if there is something you could pay off which gets rid of a high monthly payment. You could put less money down, but qualify for a higher payment now that you have less monthly debts.

[Michael Doherty @MikeDohRE]

BUYING A HOME EVEN IF YOU HAVE BIG STUDENT
LOANS
There is a couple interesting ways you can increase your buying power, even with student loan debt.

1. Lenders look at something called your DTI, or debt-to-income ratio. This just means the percentage of your income that goes toward all debt payments. Keeping the total below 45% is ideal, but there are options if you
go slightly higher.
To maximize your DTI, you can ask your student loan servicer to give you an income based repayment plan.
This reduces your student loan payments, which can increase the amount available for your new house payment.

[Michael Doherty @MikeDohRE]

The federal reserve has refrained from increasing rates and hinted at possible rate cuts in 2024, given the easing inflation figures.

Current chfa rates:
Chfa fha: 6.125%
Chfa conventional: 6.50%

Conventional, fha, va, and usda rates now hover around the 6% mark.

[Michael Doherty @MikeDohRE]

Analysis by paralysis is a real thing. More often than not people will wait years for the ‘right deal’ and miss out on all the cash flow and equity during those years. It’s never too late to start investing, but don’t talk about it, DO IT!

#RealEstate #multifamily

[Michael Doherty @MikeDohRE]

Did you know, if you've lived in your primary residence for 2 of the last 5 years and decide to sell that property, you will not be subject to capital gains tax on any profit up to 250k if you're single and up to 500k if married and filing jointly? This is a huge tax break!

[Michael Doherty @MikeDohRE]

It's never a bad time to own good dirt. Rates will always fluctuate and you can refinance when rates drop, but you can never change the price you pay for a property.

#multifamily #commercialrealestate