The Power is Now

How to Buy a Property

Homeownership Program Design

In the September 18 Homebuyer TownHall Show, I had the pleasure of having a special guest, Ena Ferdinand, a first-time homebuyer of a four-unit property. Ena was in the show to take us through her experience of buying the four-unit property.

Ena was born and raised in San Francisco. Life happened, and she later got married. Her marriage did not go well, and she went through a divorce and moved to northern California from Southern California. In pursue to give her children back the life they had, Ena had to be strong, diligent, and get her credit back.

One card at a time, she started by paying off her debts, and within no time, she was ready to transition from an apartment to being a homeowner. That is when she was referred to our VIP Agent, Kenneth Session, and the founder of Session Real Estate in Bay Area. Kenneth connected Ena to me to determine whether she attains the minimum requirements and what she qualifies for.

As a mortgage advisor, I introduced her to the thought process of having something beyond she thought she would not attain as a single person; a multi-unit property. At first, it seemed like something impossible, or something too much for Ena to handle. But when given proper thought and approached from a different perspective, a four-unit property was the best option.

Before transitioning, Ena was first paying a monthly rent of $2450. Realizing she would not save enough to achieve her American dream of homeownership when paying such an amount, she moved to a smaller apartment where she was paying a monthly rent totaling to $1950. 

According to Ena, she decided to pursue the American dream of homeownership after educating herself on the benefits of homeownership and understanding the financial aspect of it. She was also compelled by the suitable mortgage services available to make the home buying process less of a burden. Moreover, she admits that making that decision is not a walk in the park. “It was something I had to do internally. It wasn’t something that is an easy decision making process.” She says. “Because you have to take away the dream. The dream is the house, the garage, the backyard, front yard, and to have space.”

“It’s a mindset that has to come from within,” she adds.

I took her through the pre-approval process. Once she was pre-approved, I referred her back to Kenneth Sessions to proceed with the home buying process. According to Ena, if it were not for the tenacity, knowledge, experience, and expertise of Kenneth Sessions, she would not be where she is right now. Kenneth played a significant role in coming up with strategies that would help Ena land the best deal, which she would never regret. And indeed, she is very thankful to Kenneth.

Ena bought the property at $865,000. Initially, she was in no position to qualify for a mortgage. We had to add income from the other three units to make her qualify to buy the property. She then used her three-year savings to pay for her downpayment. Besides making the downpayment, she had other additional expenses to settle, such as property inspection and appraisal, which cost her $5,200 in total.   

Buying a four-unit property is not an easy task. Besides the 3.5% downpayment, the upfront and closing costs, you also need to have three months of reserves. For a single mother of four to achieve all this, it is close to unbelievable.

From Ena’s experience, no one should have an excuse for not pursuing the American dream of homeownership. Your current situation and what you’re going through should never be an excuse or a barrier that keeps you away from the dream of owning a home. You can watch the whole show here.

At The Power Is Now, we have everything you need to enable you to achieve the dream of owning a home. We have a team of professional realtors, VIP Agents, who are always ready and equipped to provide you with everything you need. You can reach the VIP Agents at If you can’t find an agent from your area, you can contact me directly for a referral. Also, ensure you stay updated with any developing real estate market news by regularly checking our blog page at You can also set up an appointment to speak directly to me at

Disclaimer: The views and opinions of Eric Lawrence Frazier are his own and do not necessarily represent views of First Bank or any organization affiliated with Eric Lawrence Frazier, or the Power Is Now Media Inc.  First Bank is an Equal Credit Opportunity Lender. Eric Lawrence Frazier, MBA is also a Vice President and Mortgage Advisor with First Bank.  NMLS#461807 and a California Licensed Real Estate Broker DRE# 01143482. Email:  Ph: 714- 475-8629.

Eric Lawrence Frazier MBA
President and CEO
The Power Is Now Media Inc.



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