A Creative Way for Millennials to Own a Home in the Bay Area
Speaker: Stanley Tseng
Meeting Description
San Francisco Bay Area is one of the most expensive area where median home price in Santa Clara county is $1.37 million and yearly income required to afford it is $284,000. This has become a crisis because few people have the ability to purchase a home and is especially challenging for first time buyers.
A creative way called Equity Sharing is a potential solution for those who wish to own a home but not yet have the full capacity. The Equity sharing is a form of shared ownership between an occupant buyer and a non-occupying investor each contribute to the down payment, occupier lives in the home, keeps it up, and makes the monthly payments, and the two parties share the home appreciation.
This could be a win-win situation where investor does not worry about property management and the occupier is able to build equity that could not be achieved otherwise. However there are several considerations needs close evaluation such as ownership percentage, possession, financial contributions, repair and improvement, and owners’ rights at the end of the equity share.
In this brown bag meeting Stanley Tseng will examine this unique way of achieving the American Dream for many potential buyers.
1 Hour CFP CE is available for this session pending approval by the CFP Board.
Speaker Biography
Stanley Tseng started his real estate career as a loan officer after ten years in high tech as an engineer. He worked with multiple new home builders as their preferred lender from 1993 to 2008, gaining valuable insight and experience in dealing with new home purchases. In 2009 he started representing buyers as a real estate broker specializes in new home purchase and investment properties. Stanley has completed the Personal Financial Planning certificate program from UC Santa Cruz Extension in 2011 and is a CFP professional candidate, he offers advice to his clients on all aspects of real estate investment.
Pricing and Registration
FPA Members $10. Non-Members $25. Space is limited so registration is required.
Registration is open through March 28th.