1 00:00:00,080 --> 00:00:13,320 Speaker 1: M hm okay. Welcome to the Therapy for Black Girls Podcast, 2 00:00:13,840 --> 00:00:18,720 Speaker 1: a weekly conversation about mental health, personal development, and all 3 00:00:18,720 --> 00:00:21,400 Speaker 1: the small decisions we can make to become the best 4 00:00:21,400 --> 00:00:25,760 Speaker 1: possible versions of ourselves. I'm your host, Dr joy hard 5 00:00:25,800 --> 00:00:30,560 Speaker 1: and Bradford, a licensed psychologist in Atlanta, Georgia. For more 6 00:00:30,640 --> 00:00:34,640 Speaker 1: information or to find a therapist in your area, visit 7 00:00:34,680 --> 00:00:38,760 Speaker 1: our website at Therapy for Black Girls dot com. While 8 00:00:38,800 --> 00:00:42,479 Speaker 1: I hope you love listening to and learning from the podcast, 9 00:00:42,960 --> 00:00:45,320 Speaker 1: it is not meant to be a substitute for a 10 00:00:45,400 --> 00:00:56,760 Speaker 1: relationship with a licensed mental health professional. Hey, y'all, thanks 11 00:00:56,800 --> 00:00:59,000 Speaker 1: so much for joining me for session to forty four 12 00:00:59,040 --> 00:01:02,160 Speaker 1: of the Therapy for Black Girls Podcast. We'll get right 13 00:01:02,200 --> 00:01:14,080 Speaker 1: into the episode after a word from our sponsors. When 14 00:01:14,120 --> 00:01:16,479 Speaker 1: you think about your dream home, what do you imagine? 15 00:01:16,880 --> 00:01:19,960 Speaker 1: Is it a hip loft in a downtown area, or 16 00:01:19,959 --> 00:01:24,319 Speaker 1: perhaps a cute farmhouse in the country somewhere. Whatever the dream, 17 00:01:24,319 --> 00:01:27,000 Speaker 1: there are some very practical steps one needs to take, 18 00:01:27,440 --> 00:01:31,040 Speaker 1: especially when it's your first home. Joining us for part 19 00:01:31,120 --> 00:01:34,360 Speaker 1: four of our January jump Start series to coach us 20 00:01:34,400 --> 00:01:37,520 Speaker 1: and prepare for the complicated yet rewarding voyage that is 21 00:01:37,560 --> 00:01:41,360 Speaker 1: buying your first home is Raina Upshaw Frasier. You may 22 00:01:41,360 --> 00:01:44,160 Speaker 1: be familiar with Raina as a cast member of Netflix's 23 00:01:44,440 --> 00:01:47,640 Speaker 1: hit series Selling Tampa. If you haven't watched it, I 24 00:01:47,840 --> 00:01:51,480 Speaker 1: highly recommend. Raina is a Tampa based real estate Asian 25 00:01:51,600 --> 00:01:55,160 Speaker 1: and broker with a background in real estate and business litigation. 26 00:01:55,680 --> 00:01:58,720 Speaker 1: Raina aims to help clients navigate even the stickiest of 27 00:01:58,760 --> 00:02:03,240 Speaker 1: real estate situation and replace the stress of homeownership with excitement. 28 00:02:03,720 --> 00:02:06,600 Speaker 1: Rain and I chatted about her experience helping clients through 29 00:02:06,640 --> 00:02:11,359 Speaker 1: the homebuying process, tips for first time homebuyers, and how 30 00:02:11,360 --> 00:02:14,440 Speaker 1: to prepare your mental health for the journey of home ownership. 31 00:02:15,280 --> 00:02:18,760 Speaker 1: If something resonates with you while enjoying our conversation, please 32 00:02:18,760 --> 00:02:21,919 Speaker 1: share with us on social media using the hashtag TVG 33 00:02:22,120 --> 00:02:28,160 Speaker 1: in session. Here's our conversation, So if you could get 34 00:02:28,200 --> 00:02:30,480 Speaker 1: started a rending by telling us a little bit about 35 00:02:30,520 --> 00:02:33,800 Speaker 1: what you do as a real estate agent and a broker. Sure, 36 00:02:34,200 --> 00:02:36,520 Speaker 1: I have an agent license and I have a broker's 37 00:02:36,600 --> 00:02:39,680 Speaker 1: license as well, and so as a real estate agent, 38 00:02:39,840 --> 00:02:44,960 Speaker 1: I help people and businesses also find homes or sell homes. 39 00:02:45,000 --> 00:02:48,120 Speaker 1: That's the short answer of it. Within that we do 40 00:02:48,240 --> 00:02:51,920 Speaker 1: so much for our clients and that whole process. And 41 00:02:51,960 --> 00:02:56,080 Speaker 1: then on the business side we help businesses locate commercial 42 00:02:56,080 --> 00:02:58,959 Speaker 1: spaces or sell commercial spaces. So can you say a 43 00:02:59,000 --> 00:03:01,240 Speaker 1: little bit about the different rents between an agent and 44 00:03:01,280 --> 00:03:04,480 Speaker 1: a broker? What are the differences there? Absolutely, so, an 45 00:03:04,480 --> 00:03:08,120 Speaker 1: agent is basically the entry level license to being able 46 00:03:08,160 --> 00:03:10,960 Speaker 1: to assist someone with buying or selling a home and 47 00:03:11,000 --> 00:03:15,600 Speaker 1: get paid by a commission. The broker's license is a different, 48 00:03:15,639 --> 00:03:19,520 Speaker 1: additional level of education and it's a different license. And 49 00:03:19,600 --> 00:03:23,000 Speaker 1: as a broker you can open your own office and 50 00:03:23,120 --> 00:03:26,959 Speaker 1: employ agents, whereas an agent you have to work underneath 51 00:03:27,080 --> 00:03:29,480 Speaker 1: a broker. So an agent can't go out and operate 52 00:03:29,520 --> 00:03:32,040 Speaker 1: on their own. They have to be associated with a broker. 53 00:03:32,160 --> 00:03:34,440 Speaker 1: And so is it like a signing off process that 54 00:03:34,480 --> 00:03:37,200 Speaker 1: has to happen, Like why are they working underneath someone? 55 00:03:37,400 --> 00:03:41,840 Speaker 1: It's a licensing requirement and really it's that education aspect. 56 00:03:41,880 --> 00:03:46,280 Speaker 1: So a broker goes through additional educational classes and gets 57 00:03:46,280 --> 00:03:49,720 Speaker 1: an additional license with the state to say I can 58 00:03:49,800 --> 00:03:53,000 Speaker 1: oversee other agents, I'm gonna adhere to all the ethics 59 00:03:53,000 --> 00:03:55,600 Speaker 1: and professionalism, and I know how to run a business 60 00:03:55,640 --> 00:03:58,040 Speaker 1: because that's a part of owning the brokerage. As well 61 00:03:58,480 --> 00:04:02,680 Speaker 1: you are hey andeling people's money. You can serve as 62 00:04:02,720 --> 00:04:05,320 Speaker 1: an escrow agent for deals. You can serve as a 63 00:04:05,360 --> 00:04:09,400 Speaker 1: property manager where you're taking tenants money and distribute them 64 00:04:09,440 --> 00:04:12,080 Speaker 1: to landlords. So there's a lot of responsibility that comes 65 00:04:12,080 --> 00:04:15,040 Speaker 1: with being a broker that requires that extra license. Got it? 66 00:04:15,160 --> 00:04:18,800 Speaker 1: That makes so much sense. So what are the certifications 67 00:04:18,800 --> 00:04:21,719 Speaker 1: and licenses that someone has to have, Like our agents 68 00:04:21,720 --> 00:04:25,479 Speaker 1: and brokers only licensed in their states or is it 69 00:04:25,520 --> 00:04:27,520 Speaker 1: across state lines? You say a little bit more about 70 00:04:27,520 --> 00:04:31,200 Speaker 1: the certification and licensing. Sure, So the entry level license, 71 00:04:31,240 --> 00:04:33,800 Speaker 1: which is called a real estate sales associate. To get 72 00:04:33,839 --> 00:04:35,880 Speaker 1: that license, you've got to go through what they call 73 00:04:35,920 --> 00:04:38,600 Speaker 1: a pre licensing course. So that's where you get all 74 00:04:38,600 --> 00:04:41,680 Speaker 1: your education as a real estate agent. You have to 75 00:04:41,720 --> 00:04:44,200 Speaker 1: pass that class and then you have to go and 76 00:04:44,240 --> 00:04:46,840 Speaker 1: take a test with the state and get a license 77 00:04:46,920 --> 00:04:49,440 Speaker 1: with the state before you can start operating as a 78 00:04:49,480 --> 00:04:52,560 Speaker 1: real estate agent. And then if you want to go 79 00:04:52,600 --> 00:04:56,440 Speaker 1: into be a broker, you take an additional pre licensing 80 00:04:56,520 --> 00:04:59,120 Speaker 1: class on the brokerage level, and then you have to 81 00:04:59,160 --> 00:05:01,680 Speaker 1: take another has to with the state to get your 82 00:05:01,720 --> 00:05:04,960 Speaker 1: brokerage license. And it's only my state. So if you 83 00:05:05,000 --> 00:05:08,120 Speaker 1: wanted to be a licensed agent in multiple states, you 84 00:05:08,120 --> 00:05:12,680 Speaker 1: have to take each state's exam. It sounds like yes technically, 85 00:05:12,839 --> 00:05:15,640 Speaker 1: but there are some states where if you are licensed 86 00:05:15,640 --> 00:05:18,599 Speaker 1: in one state, they may acknowledge your license and you 87 00:05:18,600 --> 00:05:20,760 Speaker 1: may be able to take a shortened process to be 88 00:05:20,839 --> 00:05:23,120 Speaker 1: able to work in that state. So how do we 89 00:05:23,200 --> 00:05:25,960 Speaker 1: know that somebody that we're working with is legit? Is 90 00:05:26,000 --> 00:05:28,400 Speaker 1: there a database we can look up to make sure 91 00:05:28,480 --> 00:05:30,280 Speaker 1: that the person that we're working with as an agent 92 00:05:30,360 --> 00:05:34,040 Speaker 1: or a broker is appropriately licensed. Absolutely, as with anybody 93 00:05:34,080 --> 00:05:36,120 Speaker 1: who's licensed with the state, you should be able to 94 00:05:36,160 --> 00:05:38,560 Speaker 1: check on the status of their license. So here in 95 00:05:38,640 --> 00:05:41,040 Speaker 1: Florida you can go to the Department of Business and 96 00:05:41,080 --> 00:05:44,840 Speaker 1: Professional Regulation and you can look up each agent by 97 00:05:44,880 --> 00:05:47,760 Speaker 1: their name. It will tell you what licenses they have, 98 00:05:48,000 --> 00:05:50,880 Speaker 1: when they expire, and whether they're in good standing. Thank 99 00:05:50,880 --> 00:05:54,000 Speaker 1: you for that. We know that racism pretty much infiltrates 100 00:05:54,040 --> 00:05:56,479 Speaker 1: all areas of our lives, and I'm wondering if you 101 00:05:56,480 --> 00:05:59,120 Speaker 1: can shed a little light on some of the difficulties 102 00:05:59,160 --> 00:06:01,919 Speaker 1: that blacked buy your is maybe facing in this market, 103 00:06:02,080 --> 00:06:05,400 Speaker 1: and it's not just black buyers. There was an expose 104 00:06:05,560 --> 00:06:07,680 Speaker 1: that came out about a black couple who were selling 105 00:06:07,720 --> 00:06:11,400 Speaker 1: their home and the appraiser with they had their family 106 00:06:11,440 --> 00:06:14,760 Speaker 1: pictures up a praise the home at a low value, 107 00:06:15,160 --> 00:06:17,760 Speaker 1: and they had a reappraise took all the pictures down 108 00:06:18,000 --> 00:06:21,680 Speaker 1: at the praisal value significantly went up. So it's not 109 00:06:21,800 --> 00:06:24,880 Speaker 1: just buyers that are having to face projuice and racism, 110 00:06:24,880 --> 00:06:28,159 Speaker 1: and it's sellers as well. It is something that is 111 00:06:28,600 --> 00:06:30,560 Speaker 1: kind of an intangible and you feel it as an 112 00:06:30,600 --> 00:06:34,680 Speaker 1: agent as well, right because you're operating spaces that sometimes 113 00:06:34,720 --> 00:06:37,200 Speaker 1: people aren't used to seeing people of your color working 114 00:06:37,240 --> 00:06:41,480 Speaker 1: in that area. And so it's really having realistic conversations 115 00:06:41,520 --> 00:06:44,600 Speaker 1: with your buyers and for me, it's being vigilant and 116 00:06:44,640 --> 00:06:47,560 Speaker 1: making sure that we ensure as an agent that they 117 00:06:47,560 --> 00:06:50,839 Speaker 1: are getting everything that they're entitled to and the value 118 00:06:50,920 --> 00:06:54,240 Speaker 1: that they're entitled to. And that's knowing the rules and regulations. 119 00:06:54,279 --> 00:06:58,599 Speaker 1: That's understanding the contracts, and that's really using your negotiation skills. 120 00:06:58,640 --> 00:07:01,520 Speaker 1: So are their conversations things that you do to prepare 121 00:07:01,680 --> 00:07:05,440 Speaker 1: your clients for some of these challenges. Absolutely, So when 122 00:07:05,440 --> 00:07:07,800 Speaker 1: I first get a buyer or a seller, I walk 123 00:07:07,880 --> 00:07:11,320 Speaker 1: them through the whole process from start to finish. This 124 00:07:11,400 --> 00:07:14,080 Speaker 1: is what's going to happen. These are the different steps, 125 00:07:14,120 --> 00:07:16,400 Speaker 1: and this is where we can run into obstacles and 126 00:07:16,440 --> 00:07:19,760 Speaker 1: what we're going to do to overcome them. For example, 127 00:07:19,760 --> 00:07:22,880 Speaker 1: when we're talking about a seller with an appraisal, I 128 00:07:23,000 --> 00:07:27,320 Speaker 1: have my clients basically depersonalize their homes so it's not 129 00:07:27,400 --> 00:07:29,880 Speaker 1: an issue. And I hate that we have to do that. 130 00:07:29,960 --> 00:07:31,680 Speaker 1: But I don't just do that for my black and 131 00:07:31,680 --> 00:07:33,520 Speaker 1: brown clients. I do that for all of my clients. 132 00:07:33,720 --> 00:07:36,720 Speaker 1: Depersonalized the home because when you have somebody walk in, 133 00:07:36,840 --> 00:07:39,400 Speaker 1: you want them to just see themselves living there, and 134 00:07:39,440 --> 00:07:42,760 Speaker 1: you take the race out as a factor. God it. So, 135 00:07:42,920 --> 00:07:44,720 Speaker 1: you know, Rena, my husband and I have been on 136 00:07:44,760 --> 00:07:47,040 Speaker 1: the market to try to find a new home probably 137 00:07:47,080 --> 00:07:49,960 Speaker 1: for the last six months, and I'm sure anybody can 138 00:07:50,040 --> 00:07:52,720 Speaker 1: attest that this is just like a very wild market. 139 00:07:52,840 --> 00:07:55,080 Speaker 1: Can you talk a little bit about what is the 140 00:07:55,200 --> 00:07:58,040 Speaker 1: landscape of the buying and selling market right now and 141 00:07:58,040 --> 00:08:00,520 Speaker 1: how is it different than maybe even three years ago. 142 00:08:01,200 --> 00:08:06,040 Speaker 1: You just said a word, it's a ridiculously hot seller's market. 143 00:08:06,200 --> 00:08:09,880 Speaker 1: And when I say that, that means that the inventory 144 00:08:09,960 --> 00:08:13,360 Speaker 1: is low for sellers and the demand from buyers is high, 145 00:08:13,680 --> 00:08:15,880 Speaker 1: so the sellers are pretty much able to set the 146 00:08:15,920 --> 00:08:19,440 Speaker 1: prices on the house they want, and buyers are in 147 00:08:19,480 --> 00:08:22,920 Speaker 1: a very competitive market where they're up against so many 148 00:08:22,960 --> 00:08:26,600 Speaker 1: other people. It's hard to get any type of discounted 149 00:08:26,720 --> 00:08:30,120 Speaker 1: value on any home. You're probably paying over value now 150 00:08:30,160 --> 00:08:34,640 Speaker 1: as a buyer in the market, and particularly in Tampa Bay. 151 00:08:35,000 --> 00:08:36,760 Speaker 1: There's an article that just came out one of the 152 00:08:36,800 --> 00:08:40,079 Speaker 1: top ten real estate markets in the country, and Zillo 153 00:08:40,240 --> 00:08:43,680 Speaker 1: just named Tampa the number one hottest market in the country. 154 00:08:44,040 --> 00:08:46,679 Speaker 1: There's a big spotlight on Tampa Bay right now that 155 00:08:46,960 --> 00:08:50,040 Speaker 1: I frankly think we're just getting our je desires because 156 00:08:50,679 --> 00:08:54,760 Speaker 1: it's a fantastic place to live. The climate, the weather, jobs, businesses, 157 00:08:55,040 --> 00:08:58,400 Speaker 1: the coastline, the sports teams now are doing fantastic. So 158 00:08:58,440 --> 00:09:00,959 Speaker 1: I think people are recognizing the Tampa as a great 159 00:09:00,960 --> 00:09:03,640 Speaker 1: place to live, which is great for sellers and it 160 00:09:03,640 --> 00:09:05,559 Speaker 1: makes it a little more difficult for buyers right now. 161 00:09:05,840 --> 00:09:08,520 Speaker 1: M Yeah, I think that that is across the country, 162 00:09:08,720 --> 00:09:11,120 Speaker 1: you know, And it definitely seems like because of the pandemic, 163 00:09:11,200 --> 00:09:13,319 Speaker 1: or at least in part because of the pandemic, people 164 00:09:13,360 --> 00:09:16,959 Speaker 1: have re evaluated what they wanted right or people had 165 00:09:17,000 --> 00:09:19,200 Speaker 1: an option to work from home now permanently, and so 166 00:09:19,240 --> 00:09:21,679 Speaker 1: they realize, Okay, I don't have to live this far 167 00:09:21,720 --> 00:09:23,400 Speaker 1: away from family. And so I think all of that 168 00:09:23,520 --> 00:09:26,360 Speaker 1: mixed together has really just led to lots going on 169 00:09:26,520 --> 00:09:28,960 Speaker 1: with buying and settling. Oh yes, the boom and like 170 00:09:29,080 --> 00:09:32,479 Speaker 1: virtual meetings and being able to work remotely and companies 171 00:09:32,520 --> 00:09:36,199 Speaker 1: realizing that they can still function by having a significant 172 00:09:36,200 --> 00:09:39,760 Speaker 1: amount of their staff working remotely. Has led people to 173 00:09:39,840 --> 00:09:42,440 Speaker 1: see how important it was basically in the space that 174 00:09:42,480 --> 00:09:44,680 Speaker 1: they're living in, so they don't have to particularly, like 175 00:09:44,720 --> 00:09:47,400 Speaker 1: you said, live in a certain area. What's interesting is 176 00:09:47,440 --> 00:09:50,640 Speaker 1: that you're now seeing different areas of the house being 177 00:09:50,640 --> 00:09:53,920 Speaker 1: put high on the list of must haves and what's 178 00:09:53,960 --> 00:09:56,480 Speaker 1: important right, Like the master bedroom is it now as 179 00:09:56,520 --> 00:10:00,640 Speaker 1: important as is there a home office? And resolutely yeah, 180 00:10:00,679 --> 00:10:02,920 Speaker 1: I'm looking for like a backyard where the kids can 181 00:10:02,960 --> 00:10:09,120 Speaker 1: play while I am inside zooming all day. Yes. So, 182 00:10:09,280 --> 00:10:13,480 Speaker 1: how do you advise your clients to mentally prepare for 183 00:10:13,600 --> 00:10:16,160 Speaker 1: the home buying journey because it can't take a toll 184 00:10:16,240 --> 00:10:18,400 Speaker 1: on your mental health. So what kinds of conversations are 185 00:10:18,440 --> 00:10:20,680 Speaker 1: you having with your clients to prepare them for the journey. 186 00:10:21,080 --> 00:10:24,320 Speaker 1: I remember when I bought my first house going from 187 00:10:24,400 --> 00:10:29,720 Speaker 1: renting to owning, and how nervous I was about taking 188 00:10:29,720 --> 00:10:33,600 Speaker 1: on the responsibilities of now maintaining that house and paying 189 00:10:33,600 --> 00:10:35,600 Speaker 1: the bills on that house and somebody else not being 190 00:10:35,600 --> 00:10:39,760 Speaker 1: responsible for the upkeep. And I always hearken back to 191 00:10:39,840 --> 00:10:43,360 Speaker 1: that when I'm working with first time home buyers, and 192 00:10:43,800 --> 00:10:46,480 Speaker 1: one of the biggest things that I think helps is 193 00:10:46,520 --> 00:10:49,800 Speaker 1: to at the very front walk them through the process, 194 00:10:49,840 --> 00:10:52,320 Speaker 1: these are the steps we're going to take, and then 195 00:10:52,640 --> 00:10:56,160 Speaker 1: also to make sure that they're prepared to make that leap, 196 00:10:56,200 --> 00:10:59,280 Speaker 1: which is make sure that when we're talking to lenders 197 00:10:59,280 --> 00:11:01,160 Speaker 1: that they have every thing they need in place, that 198 00:11:01,200 --> 00:11:03,319 Speaker 1: they've checked their credit score, that that's not going to 199 00:11:03,440 --> 00:11:06,600 Speaker 1: be a surprise to them, that they've saved up enough 200 00:11:06,679 --> 00:11:09,520 Speaker 1: money for the down payment and for the closing costs, 201 00:11:09,559 --> 00:11:12,280 Speaker 1: and that that's not going to be a surprise for them. 202 00:11:12,480 --> 00:11:16,240 Speaker 1: So really it's about preparing them so that they're not 203 00:11:16,360 --> 00:11:19,760 Speaker 1: surprised down the road by anything that happens. Have you 204 00:11:19,920 --> 00:11:21,800 Speaker 1: noticed that there are things that come up from people 205 00:11:21,840 --> 00:11:24,880 Speaker 1: that might discourage them from entering the home buying market 206 00:11:25,000 --> 00:11:28,440 Speaker 1: Right now, absolutely one the market the way it is, 207 00:11:28,520 --> 00:11:32,839 Speaker 1: I think buyers are getting nervous about having to compete 208 00:11:33,120 --> 00:11:36,720 Speaker 1: as fiercely with other buyers depending on what price bracket 209 00:11:36,800 --> 00:11:40,080 Speaker 1: that they're in, and I think that causes some concern 210 00:11:40,160 --> 00:11:42,480 Speaker 1: for buyers. I've talked to people who want to sell 211 00:11:42,480 --> 00:11:46,160 Speaker 1: their home, but the rental market is pretty high right 212 00:11:46,200 --> 00:11:48,600 Speaker 1: now too, So they're concerned about selling their home because 213 00:11:48,840 --> 00:11:51,120 Speaker 1: they're not really saving money by renting. And then they're 214 00:11:51,160 --> 00:11:52,920 Speaker 1: concerned they're not going to be able to find something 215 00:11:52,960 --> 00:11:55,920 Speaker 1: to buy. And that's where we as agents can kind 216 00:11:55,920 --> 00:11:58,679 Speaker 1: of step in and help them work through that process 217 00:11:58,720 --> 00:12:01,920 Speaker 1: and tangibly see what that looks like. But I think 218 00:12:01,920 --> 00:12:04,360 Speaker 1: what you also hear concerns about our Am I going 219 00:12:04,400 --> 00:12:06,679 Speaker 1: to be able to afford this? What if there is 220 00:12:06,760 --> 00:12:09,000 Speaker 1: an emergency? What if it's a money pit? What if 221 00:12:09,040 --> 00:12:10,839 Speaker 1: I buy and then the roof leaks and I didn't 222 00:12:10,840 --> 00:12:12,320 Speaker 1: know it leaked? Am I going to be able to 223 00:12:12,360 --> 00:12:15,679 Speaker 1: fix that? Do I have recourse? So all those natural 224 00:12:15,720 --> 00:12:18,480 Speaker 1: things that you would think about when you become responsible 225 00:12:19,000 --> 00:12:21,760 Speaker 1: for actually maintaining the home and paying the bills on 226 00:12:21,800 --> 00:12:24,520 Speaker 1: the home. I see buyers get concerned about. And that's 227 00:12:24,559 --> 00:12:27,120 Speaker 1: what I get a lot of questions about. Yeah, there's 228 00:12:27,120 --> 00:12:30,839 Speaker 1: a big questions. It's a big responsibility for surely. Oh, absolutely, 229 00:12:30,920 --> 00:12:34,240 Speaker 1: the big responsibility, but it also comes with really really 230 00:12:34,280 --> 00:12:37,320 Speaker 1: wonderful benefits. And on the flip side, are there things 231 00:12:37,360 --> 00:12:40,520 Speaker 1: that you have seen that have encouraged people to get 232 00:12:40,559 --> 00:12:42,199 Speaker 1: into the markets to try to find a new home 233 00:12:42,320 --> 00:12:46,320 Speaker 1: right now? Yes, I think that more and more. There's 234 00:12:46,520 --> 00:12:49,840 Speaker 1: a lot of information out there about the benefits of 235 00:12:49,920 --> 00:12:53,680 Speaker 1: home ownership and wealth building and the ways in which 236 00:12:53,720 --> 00:12:57,000 Speaker 1: you can do that through real estate, especially for our 237 00:12:57,040 --> 00:13:01,520 Speaker 1: community because we've been locked out of it historically for 238 00:13:01,920 --> 00:13:04,600 Speaker 1: so long, not even given the opportunity to be involved 239 00:13:04,600 --> 00:13:08,719 Speaker 1: in that aspect of it, and seeing how that can 240 00:13:08,760 --> 00:13:12,240 Speaker 1: play out basically through building generational wealth, through helping you 241 00:13:12,240 --> 00:13:14,920 Speaker 1: build a real estate portfolio that can accrue and value 242 00:13:14,960 --> 00:13:17,360 Speaker 1: as an asset that you can sell. I think the 243 00:13:17,400 --> 00:13:20,760 Speaker 1: more people understand the benefit of that, they get excited 244 00:13:20,800 --> 00:13:24,240 Speaker 1: about jumping into the homeownership market more. From my conversation 245 00:13:24,280 --> 00:13:39,199 Speaker 1: with Raina after the break, so you have already talked 246 00:13:39,200 --> 00:13:41,880 Speaker 1: a little bit about some of the financial pieces, So 247 00:13:42,000 --> 00:13:43,839 Speaker 1: in terms of credit score and all of this stuff, 248 00:13:44,000 --> 00:13:46,160 Speaker 1: can you talk in more depth about some of the 249 00:13:46,200 --> 00:13:48,960 Speaker 1: financials that we want to be reviewing before we even 250 00:13:49,040 --> 00:13:52,960 Speaker 1: start this process. Oh, yes, Probably the most important aspect 251 00:13:52,960 --> 00:13:55,760 Speaker 1: financially if you are going to be getting alone is 252 00:13:55,800 --> 00:13:59,400 Speaker 1: your credit score, because that's going to dictate the interest 253 00:13:59,480 --> 00:14:01,439 Speaker 1: rate you get it, it's going to dictate the type 254 00:14:01,440 --> 00:14:04,680 Speaker 1: of loan package that's available to you. And so making 255 00:14:04,720 --> 00:14:07,640 Speaker 1: sure that your credit score is where it needs to 256 00:14:07,679 --> 00:14:10,600 Speaker 1: be for you to get the best benefit from the loan. 257 00:14:11,040 --> 00:14:14,000 Speaker 1: That's important to do upfront, and there are programs out 258 00:14:14,040 --> 00:14:15,640 Speaker 1: there if your credit score isn't where you want it 259 00:14:15,640 --> 00:14:17,280 Speaker 1: to be, that can help you get it up and 260 00:14:17,320 --> 00:14:19,960 Speaker 1: that can help you understand what to pay off and 261 00:14:20,040 --> 00:14:22,600 Speaker 1: what to do to increase your credit score that you 262 00:14:22,680 --> 00:14:25,800 Speaker 1: have some time to take advantage of. The second thing 263 00:14:25,960 --> 00:14:28,400 Speaker 1: financially that's very important is making sure that you have 264 00:14:28,480 --> 00:14:32,560 Speaker 1: saved up enough cash to make the down payment and 265 00:14:32,640 --> 00:14:35,560 Speaker 1: to pay your closing cost. And really you're gonna want 266 00:14:35,560 --> 00:14:37,560 Speaker 1: to save up cash or at least a year of 267 00:14:38,000 --> 00:14:40,840 Speaker 1: emergencies or anything that may come up above and beyond 268 00:14:40,880 --> 00:14:44,280 Speaker 1: your normal bills for the home, and so that's second 269 00:14:44,360 --> 00:14:46,320 Speaker 1: financially what you want to take care of. So those 270 00:14:46,320 --> 00:14:48,320 Speaker 1: are two big things that you want to handle financially 271 00:14:48,320 --> 00:14:51,440 Speaker 1: when you're going into homeownership. Is there a formula that 272 00:14:51,600 --> 00:14:54,160 Speaker 1: we should use to figure out how much we might 273 00:14:54,240 --> 00:14:57,480 Speaker 1: need for a down payment and closing cause. Sure. So 274 00:14:57,680 --> 00:15:01,200 Speaker 1: the down payment is going to be determined by your 275 00:15:01,280 --> 00:15:03,440 Speaker 1: lender and the type of loan that you get, and 276 00:15:03,480 --> 00:15:06,600 Speaker 1: it can range anywhere from as a residential home buyer, 277 00:15:07,000 --> 00:15:09,480 Speaker 1: from three percent to I've seen it go up to 278 00:15:09,520 --> 00:15:12,680 Speaker 1: ten percent. If it's your second home, you may be 279 00:15:12,760 --> 00:15:17,120 Speaker 1: putting down and the down payment is really the lender 280 00:15:17,200 --> 00:15:19,560 Speaker 1: saying you've got to have some skin in the game too, 281 00:15:19,800 --> 00:15:22,480 Speaker 1: So we're making you put some of your money into 282 00:15:22,520 --> 00:15:24,840 Speaker 1: the purchase of this home. So we're only going to 283 00:15:24,960 --> 00:15:28,480 Speaker 1: lend you of the value of the home, and we're 284 00:15:28,480 --> 00:15:31,200 Speaker 1: only gonna lend you of the value of the home, 285 00:15:31,560 --> 00:15:33,520 Speaker 1: and you've got to come to the table with cash 286 00:15:33,520 --> 00:15:36,720 Speaker 1: for the other ten percent or the three percent. What 287 00:15:36,800 --> 00:15:39,240 Speaker 1: you put down is going to be dependent on a 288 00:15:39,280 --> 00:15:42,120 Speaker 1: couple of things. For example, your credit score. How good 289 00:15:42,200 --> 00:15:45,280 Speaker 1: is your credit because that gives the bank assurances that 290 00:15:45,320 --> 00:15:47,920 Speaker 1: they're going to be paid back on the loan. It 291 00:15:47,960 --> 00:15:51,800 Speaker 1: depends on your income, depends on cash flow, your history. 292 00:15:52,160 --> 00:15:54,640 Speaker 1: So there are several things that go into what your 293 00:15:54,680 --> 00:15:57,600 Speaker 1: down payment is going to be. But expect anywhere between 294 00:15:57,600 --> 00:16:01,560 Speaker 1: three percent and ten percent. Close in cost are the 295 00:16:01,560 --> 00:16:05,760 Speaker 1: additional expenses that you'll have associated with buying the home. 296 00:16:06,000 --> 00:16:10,000 Speaker 1: Those are things, for example, your title insurance. That is 297 00:16:10,200 --> 00:16:13,160 Speaker 1: insurance that assures that you have good title to the 298 00:16:13,200 --> 00:16:16,000 Speaker 1: home and you're gonna pay a premium on that. Your 299 00:16:16,120 --> 00:16:17,960 Speaker 1: lender is going to have a policy on the home 300 00:16:18,000 --> 00:16:20,200 Speaker 1: that you're going to pay a premium for, and that's 301 00:16:20,280 --> 00:16:23,920 Speaker 1: basically securing the lender and that if something happens with 302 00:16:23,960 --> 00:16:27,280 Speaker 1: the home, they have an insurance policy. The appraisal the 303 00:16:27,320 --> 00:16:29,640 Speaker 1: buyer usually pays for, and here it's around like four 304 00:16:29,680 --> 00:16:33,800 Speaker 1: hundred five hundred dollars. That's a closing cost. The property taxes, 305 00:16:34,200 --> 00:16:36,960 Speaker 1: they're gonna be pro rated depending on when you buy 306 00:16:36,960 --> 00:16:40,800 Speaker 1: the house. You're responsible for the taxes after your purchase, 307 00:16:40,840 --> 00:16:44,360 Speaker 1: which will typically pay at the closing table. If there's 308 00:16:44,400 --> 00:16:48,920 Speaker 1: an homeowners association involved, there could be some transfer expenses 309 00:16:48,960 --> 00:16:51,760 Speaker 1: associated with that. So there are different costs that go 310 00:16:51,840 --> 00:16:55,120 Speaker 1: into the closing cost. And I usually estimate about three 311 00:16:55,160 --> 00:16:57,840 Speaker 1: to four percent the value of the home that you 312 00:16:57,880 --> 00:17:00,560 Speaker 1: can expect to also put down in closing cost. Sometimes 313 00:17:00,560 --> 00:17:03,160 Speaker 1: a little less, sometimes it's a little more. God it 314 00:17:03,440 --> 00:17:05,280 Speaker 1: so this definitely is something that you need to be 315 00:17:05,359 --> 00:17:08,800 Speaker 1: planning for. Like most people can probably not wake up 316 00:17:08,840 --> 00:17:10,119 Speaker 1: and say, you know what, I'm going to try to 317 00:17:10,160 --> 00:17:12,520 Speaker 1: find a home this weekend kind of thing like. It 318 00:17:12,600 --> 00:17:15,520 Speaker 1: definitely is something that involves some forethought, right right, You're 319 00:17:15,560 --> 00:17:18,760 Speaker 1: gonna want to be saving money and putting money aside 320 00:17:18,920 --> 00:17:21,480 Speaker 1: that you can pay for all of those. There are 321 00:17:22,080 --> 00:17:25,400 Speaker 1: programs that can help first time home buyers and really 322 00:17:25,480 --> 00:17:29,000 Speaker 1: other home buyers with down payment assistance. You can definitely 323 00:17:29,160 --> 00:17:32,040 Speaker 1: get gifts from family members. You cannot take a loan 324 00:17:32,720 --> 00:17:35,920 Speaker 1: to pay for your down payment. That's important to understand. 325 00:17:35,920 --> 00:17:37,800 Speaker 1: You can't get a loan from a friend or family 326 00:17:37,840 --> 00:17:39,960 Speaker 1: to pay for the down payment. If you're gonna be 327 00:17:40,080 --> 00:17:42,240 Speaker 1: relying on a gift or something for somebody, the bank 328 00:17:42,320 --> 00:17:45,080 Speaker 1: is usually gonna make you submit an affidavit and make 329 00:17:45,119 --> 00:17:47,919 Speaker 1: then submit an affidavit that it's not alone that you're getting. 330 00:17:48,240 --> 00:17:50,439 Speaker 1: For the most part, yes, it's very important that you 331 00:17:50,480 --> 00:17:53,000 Speaker 1: save up that money. Depending on the price point of 332 00:17:53,040 --> 00:17:55,199 Speaker 1: the home that you're going to be buying, that you 333 00:17:55,280 --> 00:17:57,639 Speaker 1: have enough in the bank, got it. So I just 334 00:17:57,680 --> 00:17:59,720 Speaker 1: want to do a little bit of like vocabulary for 335 00:18:00,000 --> 00:18:02,120 Speaker 1: people who this might be there first time and they're 336 00:18:02,119 --> 00:18:04,760 Speaker 1: trying to figure all this out. When you say down payment, 337 00:18:04,800 --> 00:18:07,560 Speaker 1: what do you mean? Down payment is money that you 338 00:18:07,600 --> 00:18:11,399 Speaker 1: are going to be paying at closing to purchase the 339 00:18:11,480 --> 00:18:14,960 Speaker 1: home that is not covered by what the bank is 340 00:18:15,000 --> 00:18:18,119 Speaker 1: loaning you. That is money that you're paying out of 341 00:18:18,160 --> 00:18:21,879 Speaker 1: pocket towards the house. Got it? And what about interest rates? 342 00:18:22,240 --> 00:18:25,920 Speaker 1: Interest rates are the cost that the lender is charging 343 00:18:25,960 --> 00:18:29,840 Speaker 1: you to borrow money from them. That is usually part 344 00:18:29,880 --> 00:18:32,600 Speaker 1: of your monthly payment to the bank. A part of 345 00:18:32,640 --> 00:18:35,320 Speaker 1: that is going to be interest, which is not going 346 00:18:35,400 --> 00:18:38,639 Speaker 1: towards paying down your loan, that's just going to the bank. 347 00:18:39,119 --> 00:18:41,400 Speaker 1: And then part of that payment is going to be principal, 348 00:18:41,480 --> 00:18:44,360 Speaker 1: which is paying down the amount that you've borrowed from 349 00:18:44,359 --> 00:18:47,160 Speaker 1: the bank. An interest rates vary. Not too long ago, 350 00:18:47,200 --> 00:18:49,640 Speaker 1: they were in the two percents here I think now 351 00:18:49,680 --> 00:18:52,679 Speaker 1: they're in the maybe three to four percent for interest 352 00:18:52,760 --> 00:18:56,399 Speaker 1: for borrowing money. And so that is the cost that 353 00:18:56,440 --> 00:18:58,800 Speaker 1: you're gonna pay for having to use someone else's money, 354 00:18:58,840 --> 00:19:02,320 Speaker 1: the bank's money, got it? And what about loan terms? 355 00:19:02,359 --> 00:19:05,159 Speaker 1: Can you explain what that means? So loan terms are 356 00:19:05,200 --> 00:19:08,480 Speaker 1: basically the conditions of you being able to borrow the 357 00:19:08,520 --> 00:19:11,400 Speaker 1: loan So, for example, one important term is the length 358 00:19:11,440 --> 00:19:14,080 Speaker 1: of the loan. So you may have thirty years to 359 00:19:14,200 --> 00:19:16,440 Speaker 1: pay off the loan. That the actual term of the loan. 360 00:19:16,480 --> 00:19:19,440 Speaker 1: It's a thirty year loan, and that's the standard amount 361 00:19:19,440 --> 00:19:21,640 Speaker 1: of time that you would have to pay off the loan. 362 00:19:22,080 --> 00:19:24,760 Speaker 1: Other terms could be for example, is there a pre 363 00:19:24,880 --> 00:19:27,720 Speaker 1: payment penalty if you come into cash or if you 364 00:19:27,760 --> 00:19:30,080 Speaker 1: sell your house early? Is the bank going to charge 365 00:19:30,119 --> 00:19:33,760 Speaker 1: you a penalty for paying off the loan early. They're 366 00:19:33,760 --> 00:19:36,919 Speaker 1: gonna be provisions in the loan about default. You know, 367 00:19:37,040 --> 00:19:39,040 Speaker 1: what do you do to cause the default? And if 368 00:19:39,040 --> 00:19:41,120 Speaker 1: there's a default in the loan, what does the bank 369 00:19:41,160 --> 00:19:44,240 Speaker 1: have to do to start to foreclose? Which is what 370 00:19:44,359 --> 00:19:46,720 Speaker 1: the bank's option is if you don't ad bide by 371 00:19:46,920 --> 00:19:49,879 Speaker 1: the loans terms. The interest rate would be part of 372 00:19:49,920 --> 00:19:53,560 Speaker 1: the loan terms, the what they call an amateurization rate. 373 00:19:53,880 --> 00:19:56,600 Speaker 1: So there are a lot of different conditions of the 374 00:19:56,640 --> 00:19:58,640 Speaker 1: loan that are going to be set forth in your 375 00:19:58,680 --> 00:20:02,800 Speaker 1: contract with the bank. Got it? And what about mortgage insurance? 376 00:20:03,200 --> 00:20:08,360 Speaker 1: The mortgage insurance is another way that the bank basically 377 00:20:08,400 --> 00:20:13,200 Speaker 1: secures their position should something happen with the loan. It's 378 00:20:13,280 --> 00:20:18,199 Speaker 1: usually called purchase mortgage insurance, and it is usually charged 379 00:20:18,200 --> 00:20:21,320 Speaker 1: to a buyer when they don't put down at least 380 00:20:22,720 --> 00:20:25,880 Speaker 1: on a loan. So your standard buyer is gonna put 381 00:20:25,920 --> 00:20:29,679 Speaker 1: whatever the bank requires three up to ten percent, and 382 00:20:29,680 --> 00:20:31,680 Speaker 1: then they're also going to have to pay the p 383 00:20:31,920 --> 00:20:35,000 Speaker 1: m I to purchase mortgage insurance on top of that, 384 00:20:35,560 --> 00:20:39,520 Speaker 1: which is a fee basically like a monthly interest fee 385 00:20:39,720 --> 00:20:42,359 Speaker 1: that the bank is charging for you to borrow their money. 386 00:20:42,560 --> 00:20:45,160 Speaker 1: But you're not putting more than down on the home. 387 00:20:45,720 --> 00:20:48,240 Speaker 1: If you don't want to pay mortgage insurance, then save 388 00:20:48,320 --> 00:20:51,520 Speaker 1: up enough money to put at least twenty down on 389 00:20:51,640 --> 00:20:55,040 Speaker 1: your house. Okay, that's good to know. What kind of 390 00:20:55,080 --> 00:20:57,359 Speaker 1: thing should we look forward to determine that we're getting 391 00:20:57,400 --> 00:20:59,520 Speaker 1: the best quality and getting the most out of their 392 00:20:59,520 --> 00:21:02,280 Speaker 1: money when we're wanting to buy a home. Oh wow, 393 00:21:02,359 --> 00:21:04,960 Speaker 1: So I think that's gonna depend on a couple of things, 394 00:21:05,000 --> 00:21:08,240 Speaker 1: and one of those is what is your intentions for 395 00:21:08,359 --> 00:21:10,879 Speaker 1: the home? Are you buying this home to live in 396 00:21:10,960 --> 00:21:13,760 Speaker 1: it for you know, twenty thirty years because this is 397 00:21:13,800 --> 00:21:16,439 Speaker 1: your forever home. Are you planning on staying in this 398 00:21:16,520 --> 00:21:18,600 Speaker 1: home for one to two years and then selling it 399 00:21:18,640 --> 00:21:21,040 Speaker 1: and moving somewhere else? Because that's going to make a 400 00:21:21,080 --> 00:21:24,199 Speaker 1: difference in getting the value that you want out of 401 00:21:24,240 --> 00:21:26,600 Speaker 1: that house. If you're going to stay in the house 402 00:21:26,640 --> 00:21:30,480 Speaker 1: for a shorter amount of time, it's very important the 403 00:21:30,560 --> 00:21:33,199 Speaker 1: area that you buy into and making sure that the 404 00:21:33,280 --> 00:21:37,520 Speaker 1: house is going to continue to accrew in value at 405 00:21:37,560 --> 00:21:39,240 Speaker 1: a faster rate than if you were going to stay 406 00:21:39,240 --> 00:21:41,720 Speaker 1: in that home for thirty years, because then when you 407 00:21:41,760 --> 00:21:43,840 Speaker 1: go to sell it, you don't want to lose money 408 00:21:43,840 --> 00:21:45,840 Speaker 1: on it, right you still want to make money on 409 00:21:45,960 --> 00:21:49,920 Speaker 1: the home. And that's really on the financial level of it. 410 00:21:50,560 --> 00:21:53,040 Speaker 1: The other part of it is really the personal level 411 00:21:53,080 --> 00:21:55,359 Speaker 1: of buying the home. And this is something that I 412 00:21:55,480 --> 00:21:58,480 Speaker 1: talked to with buyers right at the outset. What do 413 00:21:58,560 --> 00:22:01,320 Speaker 1: you want out of your home? Do you have a 414 00:22:01,359 --> 00:22:03,600 Speaker 1: hectic job and when you come to your house you 415 00:22:03,600 --> 00:22:07,880 Speaker 1: want to relax and get away from everything. That's gonna 416 00:22:07,920 --> 00:22:10,840 Speaker 1: be a different home than when I go home. I 417 00:22:10,880 --> 00:22:12,080 Speaker 1: want to be in the hustle and bus so I 418 00:22:12,119 --> 00:22:13,639 Speaker 1: want to be able to walk down to the corner 419 00:22:13,640 --> 00:22:16,080 Speaker 1: coffee shop and I want to dog park right there, 420 00:22:16,080 --> 00:22:18,040 Speaker 1: and I want to come out and see all my 421 00:22:18,080 --> 00:22:20,879 Speaker 1: friends and all of that. So one making sure that 422 00:22:20,920 --> 00:22:24,320 Speaker 1: the home meets what you're looking for as you're living 423 00:22:24,320 --> 00:22:27,679 Speaker 1: there is important as well. And then on top of that, 424 00:22:27,760 --> 00:22:30,840 Speaker 1: third is is really the quality of the house. This 425 00:22:30,920 --> 00:22:33,480 Speaker 1: comes important during the process. You can't always tell these 426 00:22:33,480 --> 00:22:35,880 Speaker 1: things that the outset when you're first looking at the house, 427 00:22:35,880 --> 00:22:39,560 Speaker 1: but the home inspection is extremely important to making sure 428 00:22:39,600 --> 00:22:42,239 Speaker 1: that the house meets all of the standards that you 429 00:22:42,280 --> 00:22:44,840 Speaker 1: need it to make and that you're not buying a 430 00:22:44,920 --> 00:22:46,679 Speaker 1: money pit that you're going to end up putting a 431 00:22:46,680 --> 00:22:51,040 Speaker 1: lot of money into after you close. We have disclosure 432 00:22:51,119 --> 00:22:54,160 Speaker 1: laws here in Florida and in all states that require 433 00:22:54,760 --> 00:22:58,640 Speaker 1: homeowners who are selling to disclose things that you can't see. 434 00:22:58,720 --> 00:23:01,520 Speaker 1: For example, if the roof is leaking and they know it, 435 00:23:01,560 --> 00:23:04,439 Speaker 1: they're supposed to disclose those things. But there are a 436 00:23:04,440 --> 00:23:06,480 Speaker 1: lot of things that affect the value of the home 437 00:23:06,600 --> 00:23:08,960 Speaker 1: that the seller may not know about or that may 438 00:23:08,960 --> 00:23:12,680 Speaker 1: not be required to disclose, that a home inspection can determine. 439 00:23:12,960 --> 00:23:15,040 Speaker 1: And so making sure that the house you're buying is 440 00:23:15,240 --> 00:23:19,200 Speaker 1: of sound quality is important as well for protecting your 441 00:23:19,240 --> 00:23:22,040 Speaker 1: investment in the house. You know, Rena. Because the market 442 00:23:22,160 --> 00:23:23,760 Speaker 1: is what it is, I've been hearing a lot of 443 00:23:23,800 --> 00:23:27,600 Speaker 1: people saying that they are foreclosing on the inspection. Right, 444 00:23:27,680 --> 00:23:29,480 Speaker 1: A lot and a lot of sellers don't need to 445 00:23:29,520 --> 00:23:31,000 Speaker 1: wait to give you the time to do a home 446 00:23:31,040 --> 00:23:34,280 Speaker 1: inspection because there are five other offers behind you. Right, 447 00:23:34,359 --> 00:23:37,119 Speaker 1: But it does seem like that home inspection is really important. 448 00:23:37,280 --> 00:23:39,040 Speaker 1: Can you talk a little bit about maybe some of 449 00:23:39,040 --> 00:23:41,359 Speaker 1: the mistakes are the things you try to warn people 450 00:23:41,400 --> 00:23:44,879 Speaker 1: against when they are buying there for his home especially, Yes, 451 00:23:45,160 --> 00:23:47,199 Speaker 1: and this may be an unpopular opinion for me, but 452 00:23:47,320 --> 00:23:51,280 Speaker 1: I never advised my client to waive the home inspection. 453 00:23:51,680 --> 00:23:54,679 Speaker 1: Even if we say we'll do the inspection in two days, 454 00:23:55,880 --> 00:23:58,160 Speaker 1: I will get an inspector out there in two days 455 00:23:58,200 --> 00:24:00,959 Speaker 1: to inspect that home. And that's because there are hidden 456 00:24:00,960 --> 00:24:03,720 Speaker 1: things that you may not see that once you buy 457 00:24:03,720 --> 00:24:07,240 Speaker 1: the house it is very difficult or very expensive or 458 00:24:07,280 --> 00:24:11,679 Speaker 1: impossible to undo. So the inspection is so important. I 459 00:24:11,800 --> 00:24:14,159 Speaker 1: always advise my clients to get an inspector, and I 460 00:24:14,200 --> 00:24:17,720 Speaker 1: advise them to get a very good home inspector, because 461 00:24:17,760 --> 00:24:19,359 Speaker 1: you do have some that will go out there and 462 00:24:19,400 --> 00:24:23,040 Speaker 1: kind of do the cursory gloss over and not dig 463 00:24:23,119 --> 00:24:25,080 Speaker 1: down deep and get to the nitty gritty of what 464 00:24:25,160 --> 00:24:29,840 Speaker 1: you need. So that's important. I also discourage clients from 465 00:24:29,880 --> 00:24:34,119 Speaker 1: buying houses site unseen that started happening, even like for 466 00:24:34,200 --> 00:24:37,159 Speaker 1: some investors, at a minimum, you want to do a 467 00:24:37,240 --> 00:24:39,639 Speaker 1: video tour of the house. You want to have a 468 00:24:39,640 --> 00:24:43,880 Speaker 1: contractor and or an inspector look at it. In addition 469 00:24:43,920 --> 00:24:46,560 Speaker 1: to that, I just can't advise people to buy houses 470 00:24:46,560 --> 00:24:50,280 Speaker 1: sit unseen. There's too much opportunity to be taken advantage 471 00:24:50,280 --> 00:24:53,879 Speaker 1: of from those situations. Yeah, and again, I think because 472 00:24:53,920 --> 00:24:56,240 Speaker 1: of the market and there are lots of offers, it 473 00:24:56,240 --> 00:24:58,159 Speaker 1: can be tempting to just say, Okay, we'll figure that 474 00:24:58,200 --> 00:25:00,160 Speaker 1: out later, but you just don't ever know what you're 475 00:25:00,160 --> 00:25:02,520 Speaker 1: signing up for. I'm a real estate attorney and I 476 00:25:02,560 --> 00:25:07,240 Speaker 1: practice real estate before becoming an agent, and having been 477 00:25:07,280 --> 00:25:09,800 Speaker 1: on the other side of that where I'm representing clients 478 00:25:10,440 --> 00:25:13,720 Speaker 1: who have gone through the process and have not done 479 00:25:13,720 --> 00:25:15,879 Speaker 1: the do diligence that they needed, and now I'm on 480 00:25:15,920 --> 00:25:18,800 Speaker 1: the other side trying to unwring a bell. You don't 481 00:25:18,800 --> 00:25:21,359 Speaker 1: want to be on that side when it's expensive until 482 00:25:21,440 --> 00:25:24,080 Speaker 1: you can't always get what you want, so you might 483 00:25:24,119 --> 00:25:25,879 Speaker 1: as well take the time and the money and the 484 00:25:25,920 --> 00:25:28,760 Speaker 1: due diligence up front to make sure that you're buying 485 00:25:28,760 --> 00:25:32,080 Speaker 1: a sound investment. More from my conversation with Raina after 486 00:25:32,119 --> 00:25:44,200 Speaker 1: the break, So you already mentioned a couple of people 487 00:25:44,200 --> 00:25:46,119 Speaker 1: that it sounds like we would want to have on 488 00:25:46,160 --> 00:25:49,280 Speaker 1: our team. So you've talked about an inspector, a contractor, 489 00:25:49,280 --> 00:25:52,320 Speaker 1: a realtor, a broker. Are there other people we would 490 00:25:52,400 --> 00:25:54,920 Speaker 1: want to ally ourselves with or have on our team 491 00:25:54,960 --> 00:25:58,160 Speaker 1: when we are starting this process. Yes, one year lender 492 00:25:58,600 --> 00:26:03,080 Speaker 1: is very important. Front lenders offer different packages, different types 493 00:26:03,119 --> 00:26:07,080 Speaker 1: of loans to buyers. Some are much better with first 494 00:26:07,080 --> 00:26:10,320 Speaker 1: time home buyers and the different types of incentives they 495 00:26:10,320 --> 00:26:12,960 Speaker 1: can offer to first time home buyers. Some are better 496 00:26:13,000 --> 00:26:15,760 Speaker 1: for second home buyers, some are better for investors. So 497 00:26:16,240 --> 00:26:19,760 Speaker 1: your lender is important and there's such an important part 498 00:26:19,840 --> 00:26:22,200 Speaker 1: of what you're doing. You want someone that communicates well. 499 00:26:22,760 --> 00:26:25,280 Speaker 1: Your real estate agent, as we've been talking about, is 500 00:26:25,400 --> 00:26:27,320 Speaker 1: very important because they're going to be with you from 501 00:26:27,320 --> 00:26:30,240 Speaker 1: start to finish and can help you make a great 502 00:26:30,240 --> 00:26:33,000 Speaker 1: investment or can stop you from making a bad investment. 503 00:26:33,160 --> 00:26:35,680 Speaker 1: But they're there to give you advice and to facilitate 504 00:26:35,760 --> 00:26:39,359 Speaker 1: the whole process. As we discussed, the home inspector is 505 00:26:39,480 --> 00:26:43,120 Speaker 1: very important. If you're going into a home that you 506 00:26:43,200 --> 00:26:45,880 Speaker 1: know is going to need some work, and you're willing 507 00:26:45,920 --> 00:26:49,000 Speaker 1: to put that work in. Then your general contractor is 508 00:26:49,040 --> 00:26:51,679 Speaker 1: going to be very important because the quality of that 509 00:26:51,760 --> 00:26:54,760 Speaker 1: work is going to affect the value of your home 510 00:26:55,280 --> 00:26:57,440 Speaker 1: later on when you go to sell it, you're gonna 511 00:26:57,440 --> 00:27:00,600 Speaker 1: have a title company that's involved. Usually the seller picks 512 00:27:00,640 --> 00:27:04,119 Speaker 1: the title company here, and the buyer goes with the 513 00:27:04,160 --> 00:27:06,720 Speaker 1: seller's title company. But if a buyer has a really 514 00:27:06,720 --> 00:27:09,560 Speaker 1: great report relationship with the title company, they can pick 515 00:27:09,600 --> 00:27:12,240 Speaker 1: their own title agent as well. You've mentioned a couple 516 00:27:12,280 --> 00:27:14,840 Speaker 1: of times that there may be some incentives, especially for 517 00:27:14,880 --> 00:27:17,479 Speaker 1: our first time homeowners. Can you say a little bit 518 00:27:17,480 --> 00:27:19,120 Speaker 1: more about what those are and where we might find 519 00:27:19,119 --> 00:27:23,040 Speaker 1: information about that? Sure, so, lenders, mortgage brokers, and then 520 00:27:23,080 --> 00:27:26,800 Speaker 1: there are even organizations that can help with first time 521 00:27:26,840 --> 00:27:29,840 Speaker 1: home buyers. So, for example, we have an organization here 522 00:27:29,840 --> 00:27:33,400 Speaker 1: called Salita's House, and I'm sure there are organizations everywhere. 523 00:27:33,440 --> 00:27:36,120 Speaker 1: So they can help you with budgeting, they can help 524 00:27:36,160 --> 00:27:38,399 Speaker 1: you with getting your credit to where it needs to be, 525 00:27:38,800 --> 00:27:41,440 Speaker 1: and then they can help you find programs that will 526 00:27:41,480 --> 00:27:44,320 Speaker 1: help with if you need down payment assistance. There are 527 00:27:44,359 --> 00:27:47,639 Speaker 1: even some programs that assist with what you call buying 528 00:27:47,680 --> 00:27:50,680 Speaker 1: down the points on the mortgage that your interest rate 529 00:27:50,720 --> 00:27:52,600 Speaker 1: can be a little bit lower so that you can 530 00:27:52,640 --> 00:27:55,840 Speaker 1: afford the mortgage payments on a monthly basis. Right, because 531 00:27:55,880 --> 00:27:57,400 Speaker 1: if your credit is not good in your interest rate 532 00:27:57,400 --> 00:28:00,000 Speaker 1: is high, that can prevent you from affording the basically 533 00:28:00,040 --> 00:28:02,680 Speaker 1: the monthly mortgage payments. There are programs that can help 534 00:28:02,720 --> 00:28:05,320 Speaker 1: you pay down debt and tell you how to do that. 535 00:28:05,720 --> 00:28:09,960 Speaker 1: And that's not just the banks. There are actually organizations, nonprofits, 536 00:28:10,000 --> 00:28:13,760 Speaker 1: even some government programs that can help first time home 537 00:28:13,760 --> 00:28:17,480 Speaker 1: buyers with some of these matters. Got it Okay, We've 538 00:28:17,480 --> 00:28:19,520 Speaker 1: already talked about the fact that this is not something 539 00:28:19,560 --> 00:28:22,159 Speaker 1: that you can do probably with a quick turnaround. So 540 00:28:22,240 --> 00:28:25,240 Speaker 1: let's say someone is two to five years out from 541 00:28:25,280 --> 00:28:28,080 Speaker 1: buying there for his home. What kinds of small steps 542 00:28:28,080 --> 00:28:31,040 Speaker 1: and things should they be taking and thinking about right 543 00:28:31,080 --> 00:28:33,920 Speaker 1: now to set themselves on the right path. They can 544 00:28:34,680 --> 00:28:37,359 Speaker 1: want to determine what type of house they want, and 545 00:28:37,400 --> 00:28:39,400 Speaker 1: that's going to help them figure out what the value 546 00:28:39,400 --> 00:28:42,120 Speaker 1: of that home is going to be that they want. 547 00:28:42,600 --> 00:28:44,880 Speaker 1: And when they know that, you can either go through 548 00:28:44,920 --> 00:28:47,080 Speaker 1: lenders or even the internet. Now you can go on 549 00:28:47,120 --> 00:28:49,640 Speaker 1: the internet to get a feel for what your monthly 550 00:28:49,720 --> 00:28:53,520 Speaker 1: payment is going to be for the mortgage of that size, 551 00:28:54,120 --> 00:28:58,160 Speaker 1: and so you can start really saving up and understanding 552 00:28:58,280 --> 00:29:03,000 Speaker 1: what incorporating that pay it into your your monthly bills 553 00:29:03,440 --> 00:29:05,640 Speaker 1: is going to look like. And so making sure that 554 00:29:05,680 --> 00:29:09,080 Speaker 1: you are putting the money aside and that you're budgeting 555 00:29:09,160 --> 00:29:11,920 Speaker 1: such that you can afford that. You can also start 556 00:29:11,960 --> 00:29:14,360 Speaker 1: saving up the down payment that you're going to need 557 00:29:14,880 --> 00:29:18,000 Speaker 1: for that house and for the closing costs. What we 558 00:29:18,080 --> 00:29:20,360 Speaker 1: talked about the percentages that you're probably gonna need to 559 00:29:20,400 --> 00:29:23,480 Speaker 1: put aside. And then I can't emphasize enough how important 560 00:29:23,480 --> 00:29:26,959 Speaker 1: it is too that take a look at your credit score, 561 00:29:27,440 --> 00:29:29,720 Speaker 1: see if there are things that need to be fixed 562 00:29:30,120 --> 00:29:32,479 Speaker 1: or if that can affect your credit score, to raise it, 563 00:29:32,760 --> 00:29:34,800 Speaker 1: because it's gonna make such a big difference in the 564 00:29:34,920 --> 00:29:37,640 Speaker 1: rate of the loan that you get, and start working 565 00:29:37,640 --> 00:29:40,040 Speaker 1: on fixing that. If you do those three things, you're 566 00:29:40,040 --> 00:29:42,120 Speaker 1: going to be in a good position. So we're not 567 00:29:42,240 --> 00:29:44,920 Speaker 1: having gone through the process and buying a first home 568 00:29:44,920 --> 00:29:47,400 Speaker 1: and now trying to buy a second home. It feels 569 00:29:47,440 --> 00:29:49,880 Speaker 1: like there were things that kind of came up close 570 00:29:49,920 --> 00:29:52,560 Speaker 1: to closing that I don't think my husband and I 571 00:29:52,600 --> 00:29:55,120 Speaker 1: were anticipating right, So we found out we needed to 572 00:29:55,120 --> 00:29:57,400 Speaker 1: pay off his car before like the loan will go through, 573 00:29:57,400 --> 00:30:00,520 Speaker 1: and that wasn't something we knew going in. And I've 574 00:30:00,560 --> 00:30:03,360 Speaker 1: also seen people, I think some real estate agents, like 575 00:30:03,400 --> 00:30:07,240 Speaker 1: on TikTok, talking about how you cannot touch your credit 576 00:30:07,360 --> 00:30:11,040 Speaker 1: after you have been approval alone. Can you talk about 577 00:30:11,080 --> 00:30:13,000 Speaker 1: some of those things that maybe don't come up in 578 00:30:13,080 --> 00:30:16,440 Speaker 1: everyday conversation that people need to be preparing for it? Oh? Yes, 579 00:30:16,560 --> 00:30:19,720 Speaker 1: and I will tell you. COVID also through in some 580 00:30:19,800 --> 00:30:22,320 Speaker 1: weird things that were happening. I had clients that last 581 00:30:22,360 --> 00:30:24,680 Speaker 1: minute had to go get letters from their boss that 582 00:30:24,720 --> 00:30:26,200 Speaker 1: they're not going to be laid off in the next 583 00:30:26,240 --> 00:30:29,960 Speaker 1: six months due to COVID and just interesting things that 584 00:30:30,080 --> 00:30:33,040 Speaker 1: lenders now feel like they need to protect themselves. So 585 00:30:33,160 --> 00:30:35,640 Speaker 1: once you go to a lender and basically start what 586 00:30:35,720 --> 00:30:38,360 Speaker 1: we call the approval process, you're like, Okay, I'm gonna 587 00:30:38,360 --> 00:30:40,280 Speaker 1: buy a house. You go to the lender, You're gonna 588 00:30:40,320 --> 00:30:43,840 Speaker 1: get something from the lender called a prequalification letter, and 589 00:30:44,160 --> 00:30:46,480 Speaker 1: that letter is going to say, based on what you've 590 00:30:46,520 --> 00:30:49,640 Speaker 1: told us that you make and what you're debt is, 591 00:30:50,480 --> 00:30:52,600 Speaker 1: we can loan you this amount of money for a house, 592 00:30:53,120 --> 00:30:55,040 Speaker 1: and you're gonna have to put this amount of money 593 00:30:55,120 --> 00:30:58,440 Speaker 1: down if we loan you this amount of money. Once 594 00:30:58,480 --> 00:31:01,640 Speaker 1: you find a house within the those parameters, then you 595 00:31:01,680 --> 00:31:04,479 Speaker 1: start the pre approval process. That's a little bit different. 596 00:31:04,520 --> 00:31:08,880 Speaker 1: Pre approval is when you've actually turned in paperwork and 597 00:31:09,000 --> 00:31:11,840 Speaker 1: things to the bank and now they're saying, Okay, now 598 00:31:11,880 --> 00:31:15,800 Speaker 1: we verified this information and so we can say you 599 00:31:15,800 --> 00:31:18,680 Speaker 1: are approved for this loan. That's not the final step 600 00:31:19,040 --> 00:31:21,200 Speaker 1: because then the loan is going to go through underwriting. 601 00:31:21,720 --> 00:31:24,280 Speaker 1: Once it gets an underwriting, they may require all different 602 00:31:24,360 --> 00:31:26,920 Speaker 1: kinds of documents and proof of this did you pay 603 00:31:26,920 --> 00:31:30,120 Speaker 1: off this? Once you start that process with the bank 604 00:31:30,160 --> 00:31:33,040 Speaker 1: and get the pre approval and the prequalification, you do 605 00:31:33,120 --> 00:31:35,719 Speaker 1: not want to do anything that is going to affect 606 00:31:35,760 --> 00:31:39,080 Speaker 1: your credit or that it's going to affect your income. 607 00:31:39,600 --> 00:31:42,080 Speaker 1: Do not go on a large shopping spree and spend 608 00:31:42,080 --> 00:31:44,560 Speaker 1: the money in your bank. Don't go buy a car, 609 00:31:45,120 --> 00:31:49,200 Speaker 1: don't lend money to your sister. You want your finances 610 00:31:49,200 --> 00:31:52,280 Speaker 1: to say as close to possible as to what the 611 00:31:52,320 --> 00:31:55,520 Speaker 1: bank was looking at when they started the loan process. 612 00:31:55,920 --> 00:31:59,320 Speaker 1: If you do, they may make you start over, or 613 00:31:59,440 --> 00:32:02,600 Speaker 1: you could act really lose the loan. They could say, 614 00:32:02,720 --> 00:32:05,680 Speaker 1: never mind, you don't qualify now at this point. So 615 00:32:06,080 --> 00:32:09,320 Speaker 1: what you said is extremely important once you start the process. 616 00:32:09,800 --> 00:32:12,880 Speaker 1: Don't make any major purchases, don't quit your job and 617 00:32:12,920 --> 00:32:15,240 Speaker 1: go to another job. That should go without saying, but 618 00:32:15,320 --> 00:32:18,360 Speaker 1: it happens, even if it's a higher paying job. And 619 00:32:18,640 --> 00:32:22,360 Speaker 1: it's just kind of keep things status quo to give 620 00:32:22,400 --> 00:32:24,280 Speaker 1: the bank time to evaluate the loan and get you 621 00:32:24,360 --> 00:32:26,720 Speaker 1: to closing. I didn't know you couldn't even take like 622 00:32:26,760 --> 00:32:29,400 Speaker 1: a better job, like even a higher paying job would 623 00:32:29,400 --> 00:32:32,640 Speaker 1: disrupt everything that has been started. So ultimately the lender 624 00:32:32,680 --> 00:32:34,960 Speaker 1: may be excited that you have a higher paying job, 625 00:32:35,240 --> 00:32:37,320 Speaker 1: but at the least it's going to delay your loan. 626 00:32:37,400 --> 00:32:40,959 Speaker 1: And that's because you don't have a payment history with 627 00:32:41,040 --> 00:32:43,880 Speaker 1: that new employer. So the bank is going to at 628 00:32:43,920 --> 00:32:46,640 Speaker 1: least need some type of verification from your lender. You 629 00:32:46,680 --> 00:32:49,240 Speaker 1: don't have a history of payment. This isn't something that's 630 00:32:49,240 --> 00:32:51,560 Speaker 1: been on your taxes, so they're going to need to 631 00:32:51,640 --> 00:32:55,120 Speaker 1: verify that this income is legitimate and what it's expected 632 00:32:55,160 --> 00:32:58,400 Speaker 1: to be moving forward. And so even if the bank 633 00:32:58,440 --> 00:33:01,840 Speaker 1: moves forward, it's probably going to delay your loan. And 634 00:33:01,960 --> 00:33:04,240 Speaker 1: that now they're going to need more paperwork and more 635 00:33:04,280 --> 00:33:08,160 Speaker 1: evidence of this new employment. Got it? Can you share 636 00:33:08,240 --> 00:33:11,959 Speaker 1: some of your gold nuggets? And you're incredible negotiation skills? 637 00:33:12,000 --> 00:33:14,240 Speaker 1: Like what kinds of things are you adding to the 638 00:33:14,280 --> 00:33:16,400 Speaker 1: deal for your clients to like try to score them 639 00:33:16,400 --> 00:33:18,920 Speaker 1: the home of their dreams. So when I go into 640 00:33:18,960 --> 00:33:21,640 Speaker 1: any negotiation, the first thing I do is make sure 641 00:33:21,680 --> 00:33:25,800 Speaker 1: that I understand the contracts and the terms backwards and forwards. 642 00:33:25,800 --> 00:33:29,280 Speaker 1: And I will tell you will be miles ahead of 643 00:33:29,360 --> 00:33:31,800 Speaker 1: a lot of people who don't even really understand the 644 00:33:31,840 --> 00:33:36,080 Speaker 1: contract terms and their rights and responsibilities under the contract. 645 00:33:36,280 --> 00:33:38,320 Speaker 1: So I always make sure I go back and review 646 00:33:38,360 --> 00:33:40,880 Speaker 1: the contract whenever I'm about to go in and ask 647 00:33:40,880 --> 00:33:43,920 Speaker 1: for a negotiation. In real estate, you can get into 648 00:33:43,960 --> 00:33:46,320 Speaker 1: a lot of addendums because there are a lot of 649 00:33:46,360 --> 00:33:49,920 Speaker 1: concessions that happen along the way with inspections and repairs 650 00:33:49,920 --> 00:33:53,400 Speaker 1: and things. I always know those backwards and forwards when 651 00:33:53,400 --> 00:33:57,360 Speaker 1: I'm going into a negotiation. I also really try and 652 00:33:57,440 --> 00:34:00,120 Speaker 1: understand the positions of the parties because a lot out 653 00:34:00,160 --> 00:34:02,480 Speaker 1: of times you can get a win because the seller 654 00:34:03,000 --> 00:34:06,160 Speaker 1: isn't necessarily looking for some type of monetary part to 655 00:34:06,280 --> 00:34:09,080 Speaker 1: that there are other incentives that you can offer them 656 00:34:09,360 --> 00:34:11,520 Speaker 1: that they may be just as happy with, and the 657 00:34:11,640 --> 00:34:14,800 Speaker 1: same thing for your buyer. So if you're looking at 658 00:34:15,080 --> 00:34:18,480 Speaker 1: where they are in does this seller need to move quickly? 659 00:34:18,800 --> 00:34:21,840 Speaker 1: Do they not want to move quickly? Are they relocating? 660 00:34:22,120 --> 00:34:24,240 Speaker 1: Are they moving close by? Do they have a closing 661 00:34:24,239 --> 00:34:26,720 Speaker 1: that's coming up fast? And that's what's making them nervous. 662 00:34:27,160 --> 00:34:29,479 Speaker 1: When you take that into a totality, you can usually 663 00:34:29,520 --> 00:34:32,880 Speaker 1: come up with some really creative solutions for your client 664 00:34:33,120 --> 00:34:36,480 Speaker 1: that gets them what they want that doesn't compromise on 665 00:34:36,520 --> 00:34:39,760 Speaker 1: the monetary side of where they are, So that's important. 666 00:34:39,840 --> 00:34:42,840 Speaker 1: Then the other piece is really this is from the 667 00:34:42,920 --> 00:34:46,839 Speaker 1: law too, is just understanding how people negotiate. A lot 668 00:34:46,880 --> 00:34:51,640 Speaker 1: of times are feelings and emotions get involved and put 669 00:34:51,719 --> 00:34:55,280 Speaker 1: us in a compromising position where we're not really open 670 00:34:55,360 --> 00:34:57,840 Speaker 1: to receiving something that may be a very good deal. 671 00:34:58,480 --> 00:35:02,520 Speaker 1: And stepping back and really assessing where the seller is 672 00:35:02,640 --> 00:35:06,239 Speaker 1: or the buyer is emotionally and trying to address that 673 00:35:06,640 --> 00:35:09,239 Speaker 1: can really help you in a negotiation aspect. Yeah, it 674 00:35:09,239 --> 00:35:11,640 Speaker 1: definitely seems like your love that ground makes you just 675 00:35:11,760 --> 00:35:15,960 Speaker 1: a fantastic agent, especially for these kinds of times. I 676 00:35:16,040 --> 00:35:19,879 Speaker 1: hope so so this episode is a part of our 677 00:35:19,960 --> 00:35:22,360 Speaker 1: January Jump Start series and I love for you to 678 00:35:22,400 --> 00:35:24,919 Speaker 1: share any words of encouragement you have. Arena for people 679 00:35:24,920 --> 00:35:26,800 Speaker 1: who are thinking that they want to take the steps 680 00:35:26,840 --> 00:35:29,000 Speaker 1: to buying their first home other than twenties twenty two 681 00:35:29,000 --> 00:35:33,640 Speaker 1: are beyond Absolutely it's so worth it to get into 682 00:35:33,840 --> 00:35:36,840 Speaker 1: home ownership. One for me, at least, the pride of 683 00:35:36,880 --> 00:35:40,400 Speaker 1: owning your own home and having worked for something that 684 00:35:40,400 --> 00:35:43,360 Speaker 1: that is now an asset for you, something that a 685 00:35:43,480 --> 00:35:46,160 Speaker 1: landlord can't come and just pull from underneath you because 686 00:35:46,160 --> 00:35:47,799 Speaker 1: they decide they don't want to rent or they're going 687 00:35:47,840 --> 00:35:50,120 Speaker 1: to sell the home, and now you've earned a position 688 00:35:50,160 --> 00:35:54,240 Speaker 1: that you can't control. Two is a scary time for buyers, 689 00:35:54,239 --> 00:35:57,000 Speaker 1: and I know that because of the market, but there's 690 00:35:57,120 --> 00:36:01,080 Speaker 1: definitely opportunity there and having a good agent and having 691 00:36:01,120 --> 00:36:03,879 Speaker 1: a good team makes all the difference and can really 692 00:36:03,880 --> 00:36:06,960 Speaker 1: facilitate it for you. And if you're just not ready 693 00:36:06,960 --> 00:36:09,200 Speaker 1: for it, the best thing to do is to start 694 00:36:09,239 --> 00:36:12,040 Speaker 1: positioning yourself so that you will be ready for it 695 00:36:12,360 --> 00:36:14,399 Speaker 1: when you're able to make that leap. So the things 696 00:36:14,440 --> 00:36:17,360 Speaker 1: we talked about, save up your money, get your credit 697 00:36:17,440 --> 00:36:20,279 Speaker 1: in a really good spot, and really understand what the 698 00:36:20,320 --> 00:36:22,239 Speaker 1: finances are going to be once you own the home, 699 00:36:22,360 --> 00:36:24,240 Speaker 1: and you are going to be so ready and prepared 700 00:36:24,600 --> 00:36:27,520 Speaker 1: for when you finally own your own home. Well, thank 701 00:36:27,560 --> 00:36:30,040 Speaker 1: you so much, Rena. We so appreciate all the information 702 00:36:30,080 --> 00:36:32,760 Speaker 1: that you shared with us today. Thank you for having 703 00:36:32,800 --> 00:36:34,879 Speaker 1: me on. I love talking about this. I love being 704 00:36:34,920 --> 00:36:37,600 Speaker 1: able to help people, especially when it's their first time 705 00:36:37,600 --> 00:36:40,160 Speaker 1: buying a home. It's just so important, it's so special. 706 00:36:43,440 --> 00:36:45,680 Speaker 1: I'm so glad Rindon was able to share her expertise 707 00:36:45,719 --> 00:36:48,520 Speaker 1: with us today. To learn more about her and her work, 708 00:36:48,880 --> 00:36:51,200 Speaker 1: visit the Show Knows at Therapy for Black Girls dot 709 00:36:51,280 --> 00:36:54,480 Speaker 1: com slash session to forty four and be sure to 710 00:36:54,520 --> 00:36:58,600 Speaker 1: text two of your girls this episode right now. If 711 00:36:58,600 --> 00:37:01,120 Speaker 1: you're looking for a therapist and area, be sure to 712 00:37:01,200 --> 00:37:04,040 Speaker 1: check out our therapist directory at Therapy for Black Girls 713 00:37:04,080 --> 00:37:07,160 Speaker 1: dot com slash directory. And if you want to continue 714 00:37:07,160 --> 00:37:09,440 Speaker 1: digging into this topic or just be in community with 715 00:37:09,480 --> 00:37:11,880 Speaker 1: other sisters, come on over and join us in the 716 00:37:11,920 --> 00:37:15,080 Speaker 1: Sister Circle. It's our cozy corner of the Internet design 717 00:37:15,200 --> 00:37:18,000 Speaker 1: just for black women. You can join us at community 718 00:37:18,080 --> 00:37:21,480 Speaker 1: dot Therapy for Black Girls dot com. This episode was 719 00:37:21,520 --> 00:37:24,799 Speaker 1: produced by Freda Lucas and Alice Ellis, and editing was 720 00:37:24,840 --> 00:37:27,520 Speaker 1: done by Dennis and Bradford. Thank you all so much 721 00:37:27,600 --> 00:37:30,080 Speaker 1: for joining me again this week. I look forward to 722 00:37:30,080 --> 00:37:33,480 Speaker 1: continuing this conversation with you all real soon. Take it 723 00:37:33,640 --> 00:37:33,839 Speaker 1: care