# See how these friends co-bought on a San Diego golf course with $4,700 each.

They were renters that wanted to get into real estate.

They bought it for $265K by splitting the 5% down payment and monthly mortgage.

The AirBnB income covers their mortgage and expenses plus 3 rounds of golf per month.

In 2 years they plan to use the appreciation to buy another home on the course.

# Check out the full story.

[PIN SEEKERS : ALEX, RYAN AND MARK - NESTMENT CO-BUY GROUP ⛳✨](https://www.youtube.com/watch?v=lN4HHbXLLkU)

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# What will your story be?

How we calculated these figures

**Home Affordability Calculations**  
These calculations utilize the [Fannie Mae multifamily home loan program](https://www.mortgageresearch.com/articles/fannie-mae-5-down-multifamily-homes/) to put a 5% down payment for a 30 year fixed mortgage at a 6.5% interest rate (rates subject to market conditions) on a triplex property.

**Home Price**  
The total down payment available is calculated by multiplying the down payment amount by the total number of co-buyers in the group. The home price is then calculated by dividing the total down payment amount by 0.05 to simulate a 5% down payment. If the amount is greater than the max triplex loan limit of $1,033,000 then that limit amount is used. Higher loan limits do exist for quadplexes.

**Equity Growth**  
The equity growth is calculated by dividing the pro rata projected equity value in the home in 5 years by each member’s down payment amount. The projected 5 year equity value factors in the home locality’s forecasted appreciation along with the principal contribution portion of each monthly mortgage payment. The return is significantly higher than the projected appreciation of the home because it is calculated relative to the down payment amount, which makes for a more accurate measure of return on initial investment.

**Monthly Cost**  
**‍** The monthly cost is calculated by subtracting the monthly mortgage amount from the city's projected median rent for a 3 bed unit, and dividing by the group size. This assumes one unit is occupied by the buyer and the remainder are rented out.

What homebuying with Nestment looks like.

Kickoff call

- Meet your homebuying coach.
- Create your buying strategy & roadmap together.

Explore financing options

- Review loan products that fit your needs.
- Meet lenders & get pre-approved.

(🎉 major milestone!)

Choose an agent

- Get matched with a few vetted agents.
- Choose & sign with the best fit.

Align your buying team

- Lender underwrites pre-approval.
- Connect your lender & agent to strategize.

Bid and close on your home!

- Analyze listings together & make offers.
- Close & secure your title.