WEBVTT 1 00:00:57.840 --> 00:01:00.920 Hello, Hello, Hi, How are you. I'm doing well? How 2 00:01:00.960 --> 00:01:06.239 about yourself? I'm doing fantastic. How's the week, a month, the 3 00:01:06.319 --> 00:01:11.959 year been for you so far? It's been great. Um. It started 4 00:01:11.959 --> 00:01:17.400 out slow, honestly, but everybody and it's came it came back strong, 5 00:01:17.879 --> 00:01:21.280 very very strong. Um. And and it looks like you might stay that 6 00:01:21.319 --> 00:01:23.959 way. Good. Good, I'm happy. I think. I think the 7 00:01:25.000 --> 00:01:29.640 same thing I think. Uh, December was okay, January was was good, 8 00:01:29.760 --> 00:01:36.959 February was slower. March you starts seeing more activity, and I feel 9 00:01:36.959 --> 00:01:40.760 really good about April and the remaining of the year. Yeah, exactly. 10 00:01:41.319 --> 00:01:47.120 I'm seeing a lot um like still lines out the door open houses. They're 11 00:01:47.640 --> 00:01:52.000 few and far in between, depending on you know, the area that people 12 00:01:52.040 --> 00:01:57.319 are buying, but like here the marketing like North Jersey. Um, I'm 13 00:01:57.319 --> 00:02:01.680 seeing this crazy right, there's there's literal lines out the door, which is 14 00:02:01.760 --> 00:02:06.319 kind of like beginning of COVID. We'll not begin mid COVID. I want 15 00:02:06.319 --> 00:02:10.120 to say, right when one open house fun up and the line was down 16 00:02:10.120 --> 00:02:15.280 the block, same thing out of realtor actually posted today on Instagram and I 17 00:02:15.360 --> 00:02:16.240 was like, oh my god, I can't believe it. I got like 18 00:02:16.240 --> 00:02:20.680 twenty thirty offers on every house. It's insane. Yeah, yeah, I 19 00:02:20.680 --> 00:02:24.319 mean especially multi family. Multifamily is really hot right now. Yeah, everybody 20 00:02:24.520 --> 00:02:34.280 is thinking investing and investments, and I think it's it's the mindset that most 21 00:02:34.319 --> 00:02:38.000 people are in now. So we're seeing a lot of activity there that there's 22 00:02:38.039 --> 00:02:42.680 tons of investors. Everybody's looking to do all different kinds of projects, but 23 00:02:42.800 --> 00:02:47.400 I think multifamily is really the hot spot in a lot of areas of northern 24 00:02:47.439 --> 00:02:54.879 New Jersey. So when it comes to making investments in any piece of real 25 00:02:55.000 --> 00:03:01.120 estate, whether it's single family or multi family or you know, and anything 26 00:03:01.159 --> 00:03:05.599 you could think of condo, ha, you know, all those kind of 27 00:03:05.599 --> 00:03:12.879 things, it's really important to get pre approved yep, right, always get 28 00:03:13.479 --> 00:03:16.199 first and then starts shopping, you know, until you know what you can 29 00:03:16.240 --> 00:03:21.520 afford, what you can buy. Um, you're you're you're wasting your own 30 00:03:21.560 --> 00:03:24.080 time more than anything, you know, because when I look at something comes 31 00:03:24.080 --> 00:03:28.520 on the market, then you rush to do everything. You don't really get 32 00:03:28.599 --> 00:03:32.159 the right information, especially when you're always rushing. Um and by the time 33 00:03:32.199 --> 00:03:36.560 you're you know, you're ready to submit offer, ass has gone right, 34 00:03:37.000 --> 00:03:39.879 well, you sit beforehand, you can pre plan. You know, Hey, 35 00:03:39.919 --> 00:03:44.599 I want to be in a certain school district, or I want to 36 00:03:45.400 --> 00:03:47.840 I wanna have a certain payment. I think that needs to be a big, 37 00:03:51.280 --> 00:03:54.199 a big focus point for people because obviously, you know, rates go 38 00:03:54.280 --> 00:03:58.560 up and down and everyone's freaking out over it. Um. I don't know 39 00:03:58.560 --> 00:04:01.759 if you saw, like the news, everybody talking about lllpa's and saying, 40 00:04:01.759 --> 00:04:03.960 oh, if you have worse credit, you're gonna get a better rate. 41 00:04:04.000 --> 00:04:10.280 That's so not the fact. Um so it And by the way, those 42 00:04:10.319 --> 00:04:14.919 things that they're all talking about today have were announced months ago. Um they 43 00:04:14.960 --> 00:04:18.000 pushed back like the on set day. However, a lot of banks already 44 00:04:18.199 --> 00:04:24.040 were implementing them into their their prices in structures. Um doesn't mean if you 45 00:04:24.040 --> 00:04:27.079 have better credit, bad credit, you're gonna get a better rate. That 46 00:04:27.120 --> 00:04:31.399 does not That's not what it means. Um. It just basically it's kind 47 00:04:31.439 --> 00:04:35.480 of how rates are determined for people or you know, based on what you're 48 00:04:35.519 --> 00:04:39.680 buying, how much you're spending, how much you're putting down, what kind 49 00:04:39.680 --> 00:04:43.439 of loan you're getting, um, how much money you make that Actually you 50 00:04:43.480 --> 00:04:46.519 know, and I think I said this before, it makes a difference, 51 00:04:46.160 --> 00:04:50.480 Um, all of these things. What I think, Um, I think 52 00:04:50.519 --> 00:04:57.600 you're going to see so many more FAH buyers. Right, It's like it's 53 00:04:58.279 --> 00:05:01.720 pay the payments are just come up a lot lower due to the fact that 54 00:05:01.759 --> 00:05:04.240 you know, if H moves don't have those you know, low level price 55 00:05:04.279 --> 00:05:09.040 adjustments, so you're getting a better rate, better payment, you know, 56 00:05:09.160 --> 00:05:13.360 better everything. Why not go that route, you know, a little bit 57 00:05:13.439 --> 00:05:17.720 less money down. So I think sellers need to actually start getting sellers need 58 00:05:17.759 --> 00:05:21.920 to get educated anything. Um, I don't know if you've seen you know 59 00:05:23.000 --> 00:05:26.079 this, and you probably have, especially in these markets when they're really hot, 60 00:05:26.120 --> 00:05:30.040 but if you have. I had a realtor one to tell me. 61 00:05:30.120 --> 00:05:33.680 She's like, hey, yeah, we accepted your clients pre approval or your 62 00:05:33.720 --> 00:05:39.439 clients offer, not pre approval, your clients offer because he's put in twenty 63 00:05:39.439 --> 00:05:43.240 five percent down and he's conventional. She goes like, we had thirteen other 64 00:05:43.279 --> 00:05:46.079 offers except the other thirteen due to the area and the fact that it was 65 00:05:46.079 --> 00:05:49.279 like a three family house. They were all at H so they were all 66 00:05:49.279 --> 00:05:54.839 first time home buyers. Now the buyer was an investor, right, so 67 00:05:54.839 --> 00:06:00.160 obviously you know you wind the one per contractor one back to renegotiate the ask 68 00:06:00.199 --> 00:06:02.959 for X, Y and z blah blah blah. Guarantee you if the seller 69 00:06:03.040 --> 00:06:06.000 and the realtors and everybody sat down and looked at all the other fh A 70 00:06:06.000 --> 00:06:10.319 approvals, that deal would have been closed, you know, and it would 71 00:06:10.360 --> 00:06:15.399 probably been closed at a better price just because they you know, that's what 72 00:06:15.480 --> 00:06:17.560 the offers were. But because the seller got afraid because they were all fah 73 00:06:17.600 --> 00:06:19.199 A, they was like, oh, let me just go from mentional. 74 00:06:19.240 --> 00:06:23.800 It's the easier round. Well, that mentional buyer has a lot more money 75 00:06:23.800 --> 00:06:28.800 down right, right, he does. But also they know they are hit 76 00:06:28.920 --> 00:06:31.199 very well. They know they can make adjustments because they need to fix X, 77 00:06:31.319 --> 00:06:34.040 Y and Z and so on and so forth. I just think, 78 00:06:34.079 --> 00:06:39.600 I just think sellers really really need to consider all offers right when they're getting 79 00:06:39.639 --> 00:06:42.759 them in just you're going to see so many more buyers trying to go to 80 00:06:42.759 --> 00:06:45.439 the fh A route. It just makes more sense for them, you know. 81 00:06:45.560 --> 00:06:49.839 Yeah, payments especially, I don't know how what you're seeing on your 82 00:06:49.839 --> 00:06:54.600 side, Um, I mean you see a mix of things. I mean 83 00:06:54.680 --> 00:06:58.480 you have. I mean, I think just traditionally and historically people look at 84 00:06:58.519 --> 00:07:02.600 FAH loans as the more complicated way to go, and people are thinking well, 85 00:07:02.600 --> 00:07:08.319 sellers and sellers agents are thinking that in a market like this, right, 86 00:07:08.399 --> 00:07:10.920 because if we were in a traditional market where things were moving a lot 87 00:07:10.920 --> 00:07:14.319 slower, people have more time, people are a little bit more patient, 88 00:07:14.519 --> 00:07:16.680 people are willing to take a little bit more of a gamble, maybe negotiate 89 00:07:16.800 --> 00:07:20.160 some more. But when you're in a market where things are moving so quickly, 90 00:07:20.199 --> 00:07:24.720 people begin to have the mindset of just that, let's try to move 91 00:07:24.759 --> 00:07:27.839 this along as quickly as we possibly can. Nobody has time to waste, 92 00:07:27.959 --> 00:07:32.040 we don't, you know, so people who are trying to look for essentially 93 00:07:32.040 --> 00:07:34.959 the easiest deal. Now, when it comes to selling and being on the 94 00:07:35.000 --> 00:07:40.040 cell side, a lot of the times, right, it has a lot 95 00:07:40.120 --> 00:07:45.480 to do with what's important to the seller. Is it the price, is 96 00:07:45.519 --> 00:07:51.040 it the timetable right, or is it the strength of the buyer. So 97 00:07:51.079 --> 00:07:55.079 there's three different things that you look at, and a lot of the times 98 00:07:55.120 --> 00:08:01.680 when they're looking at conventional versus AHA, their look looking at what can move 99 00:08:01.720 --> 00:08:09.600 along more quickly. And the idea is that if someone is FHA with a 100 00:08:09.639 --> 00:08:13.720 minimum down payment and there's issues with the home of which it may or may 101 00:08:13.759 --> 00:08:18.319 not pass inspection. Is the buyer capable of making those repairs, because the 102 00:08:18.360 --> 00:08:22.399 sellers are in position in a position right now not to make those repairs, 103 00:08:22.839 --> 00:08:28.160 so they don't want to deal with that negotiating back and forth or wind up 104 00:08:28.160 --> 00:08:33.080 having to back pedal a little bit on the pricing because the buyer doesn't have 105 00:08:33.120 --> 00:08:37.559 that capability. But what I like to do how I put a lot of 106 00:08:37.559 --> 00:08:39.559 my deals together is you know, if if I do have an FH A 107 00:08:39.679 --> 00:08:43.039 buyer, you want them to have the mindset like, hey, there might 108 00:08:43.080 --> 00:08:46.720 be a list of things that need to be fixed or replaced office home. 109 00:08:48.080 --> 00:08:50.559 Are you in a position to accept responsibility for those items? Should we need 110 00:08:50.600 --> 00:08:54.080 to do that in order to a praise? And nine times out of ten, 111 00:08:54.639 --> 00:09:00.200 once you get them to understand what that looks like and what that can 112 00:09:00.279 --> 00:09:03.159 mean, if they have the finances available, it's so much easier to put 113 00:09:03.159 --> 00:09:05.600 together a deal. And in that case, there's nothing for the seller to 114 00:09:05.600 --> 00:09:11.360 worry about. Absolutely absolutely. That's That's something that you know, I think 115 00:09:11.399 --> 00:09:13.639 a lot of people don't look at is just because hey went into contract and 116 00:09:13.679 --> 00:09:18.840 that's it, things can still be negotiated throughout the process. That that is, 117 00:09:18.960 --> 00:09:22.759 you have a due diligence period, you have a you know, a 118 00:09:22.799 --> 00:09:26.639 commitment date that you have to meet. The thing is, I'm seeing a 119 00:09:26.639 --> 00:09:31.200 lot more you know, people going into contract and then you know, normally 120 00:09:31.200 --> 00:09:33.279 we used to see, hey, I want this done as quickly as possible. 121 00:09:33.639 --> 00:09:37.960 However, that seller will become a buyer right for them for the most 122 00:09:39.000 --> 00:09:41.919 part, maybe not every time. When they become a buyer, they're going 123 00:09:41.960 --> 00:09:45.679 to deal with the same exact issues that their buyer was dealing with buying a 124 00:09:45.759 --> 00:09:48.480 property, making sure they qualify, making sure the property qualifies, and so 125 00:09:48.559 --> 00:09:54.159 on. So when if they're educated up front, hey listen, this is 126 00:09:54.480 --> 00:09:56.960 you know, this is what you're gonna deal with with your selling yours or 127 00:09:56.960 --> 00:10:03.320 you're gonna deal with buying the other. We're seeing much more bigger timelines right 128 00:10:03.759 --> 00:10:07.559 for the most part, usually especially deals in Jersey, thirty forty five days 129 00:10:07.639 --> 00:10:13.840 or like max right, I feel like everything closes within that thirty day period 130 00:10:13.960 --> 00:10:20.279 usually um and getting a clear to close in today's market within like two weeks. 131 00:10:20.000 --> 00:10:24.720 It's it's nothing out of the ordinary, right, So it's become there's 132 00:10:24.720 --> 00:10:30.600 plenty of technology, people can get you everything to you like how many clients 133 00:10:30.600 --> 00:10:33.399 do I have that I have never actually met face to face. They've gotten 134 00:10:33.399 --> 00:10:37.840 me all their documents as soon as we ask for them. We upload everything 135 00:10:37.879 --> 00:10:39.600 quickly. They get looked at within the same day. You know, I've 136 00:10:39.639 --> 00:10:45.519 had I had a deal submitted from scratch, right, submit it. What 137 00:10:45.679 --> 00:10:48.200 are the appraisal, what our title got? The conditions? Cleared? Everything 138 00:10:48.240 --> 00:10:54.080 within seven days? Right? Yeah? Yeah, so like that was a 139 00:10:54.120 --> 00:10:58.519 New York deal. Normally New York deals are like, oh, here's forty 140 00:10:58.519 --> 00:11:01.200 five days on contract. Also it's like honor about so maybe we need an 141 00:11:01.240 --> 00:11:05.039 extra thirty days on top. That turns into what seventy five days very quickly. 142 00:11:05.159 --> 00:11:09.960 Right, that's a very long deal. So even locking sometimes, you 143 00:11:09.000 --> 00:11:11.759 know, like locking the rate, the longer to locker rate usually the worst 144 00:11:11.759 --> 00:11:16.480 it is. Right, So even locking the rate for people and you want 145 00:11:16.519 --> 00:11:20.399 to lock them in so they're not subject to however the markets going, you 146 00:11:20.440 --> 00:11:22.919 know, until that deal closes, becomes very difficult, you know, trying 147 00:11:22.960 --> 00:11:28.399 to climb everything. But I'm starting to see even on the Jersey side, 148 00:11:28.600 --> 00:11:31.639 right, because they know, hey, I'm some of my house. I 149 00:11:31.720 --> 00:11:35.080 need to buy another house, right, and I need to be prepared. 150 00:11:35.240 --> 00:11:37.919 I might need thirty days, sixty days. I had, you know, 151 00:11:37.919 --> 00:11:43.600 one of my closest friends. He got into contract in January. Actually, 152 00:11:43.600 --> 00:11:46.879 if I'm not mistaken, it could even be in December. They closed at 153 00:11:46.879 --> 00:11:50.679 the end of April, not because of them. They could have been ready 154 00:11:50.679 --> 00:11:54.600 in two weeks. Everything was easy, you know, they're easy to do, 155 00:11:54.799 --> 00:11:58.639 very large down payment the homeline. The issue was the seller said, 156 00:11:58.679 --> 00:12:01.200 hey, I need to find the house needs to be ready for me. 157 00:12:01.279 --> 00:12:05.799 Obviously, So even though they close, the sellers still needed an extra two 158 00:12:05.799 --> 00:12:07.679 weeks to live in the house until they were able to finalize everything on their 159 00:12:07.720 --> 00:12:11.679 purchase. So I'm starting to see that a lot more. I think everybody 160 00:12:11.720 --> 00:12:16.840 just needs to be a little bit better educated, especially on the products, 161 00:12:16.120 --> 00:12:18.919 if you don't think like you know, on the realtor side. And I 162 00:12:18.919 --> 00:12:22.440 get calls all the time, but I even try to call them advance, 163 00:12:22.679 --> 00:12:26.279 especially now since the you know, multiple offers are back out there, you 164 00:12:26.320 --> 00:12:28.759 know, reaching out to the listening agent and saying, hey, listen, 165 00:12:30.080 --> 00:12:31.799 this is our client. This is what we did to make sure they're qualified. 166 00:12:33.039 --> 00:12:35.600 Right, I can get it done where I can always say listen up 167 00:12:35.600 --> 00:12:39.679 to you know nine with certainty. This will close. The reason it's always 168 00:12:39.720 --> 00:12:43.000 ninety nine percent because anything can happen right to that client. What if they 169 00:12:43.080 --> 00:12:48.720 lose their job or something happens and that we don't have control over, right, 170 00:12:48.240 --> 00:12:52.120 so we can get all that done in advance. Now if if on 171 00:12:52.120 --> 00:12:56.159 one side, like the seller says, hey, I want to speak to 172 00:12:56.240 --> 00:12:58.960 whoever the loan officers if they're gonna stick with this loan officer, you know, 173 00:13:00.120 --> 00:13:01.960 have they done all their due diligence? Have they checked everything check, 174 00:13:03.000 --> 00:13:07.320 credit checked, income checked? Assets, are they're getting gifts? If they 175 00:13:07.399 --> 00:13:09.679 know all of that in advance, everything can get clear very quickly. Now, 176 00:13:11.240 --> 00:13:16.080 something as miners like paint right, it's like always a big issue. 177 00:13:16.240 --> 00:13:22.159 Or I had an issue with with wallpaper and a n FH deal right wallpaper 178 00:13:22.440 --> 00:13:28.519 feeling? Wallpaper, yes, with back on like crazy. But like something 179 00:13:28.600 --> 00:13:31.759 that minor, let's say a seller's like, oh my wallpaper is feeling. 180 00:13:31.840 --> 00:13:33.840 I don't want to deal with it. Right However, you might be given 181 00:13:33.960 --> 00:13:37.639 up like a very strong buyer. You know, so you want to be 182 00:13:37.840 --> 00:13:43.200 educated in advance for it. Like you're you're listening your house. It is 183 00:13:43.240 --> 00:13:46.720 hot depending on the area you're at, because you know, I read up 184 00:13:46.759 --> 00:13:50.200 on it. Yes, there are some markets you know that have gone down, 185 00:13:50.480 --> 00:13:56.639 you know that are not as hot as we're at apparently, However, 186 00:13:56.159 --> 00:14:01.279 the you know, everyone needs to be prepared on what the next step is. 187 00:14:01.480 --> 00:14:05.960 Right, submit an offer, I fully pre approved, truly right, 188 00:14:05.279 --> 00:14:09.480 like we had we had a deal where you know, you and I together, 189 00:14:09.919 --> 00:14:13.120 or the person made certain mistakes that had it came to us before all 190 00:14:13.240 --> 00:14:18.399 that, it would have been easier and closed the very quickly. But we 191 00:14:18.480 --> 00:14:22.679 still met our timeline. We still close within the contract date. So like 192 00:14:22.679 --> 00:14:26.000 you know, working with the right people, making sure you're doing everything correctly 193 00:14:26.039 --> 00:14:28.799 up front, making sure you truly get pre approved, run your credit, 194 00:14:28.879 --> 00:14:33.039 do the whole line. And people need to remember that you can run your 195 00:14:33.080 --> 00:14:37.440 credit within that thirty day period. If you want to shop around, you 196 00:14:37.480 --> 00:14:39.639 go to Chase, you go to well spar you go wherever you want to 197 00:14:39.639 --> 00:14:43.200 go. You have that thirty day period to run in quite multiple places for 198 00:14:43.279 --> 00:14:48.919 the same thing, not for for anything you want clear and it does not 199 00:14:50.159 --> 00:14:52.600 you know, it all comes up as one transaction basically like one hit. 200 00:14:54.120 --> 00:14:56.679 So they can always do that as well. Not to be afraid of, 201 00:14:56.720 --> 00:15:00.039 hey, don't run my credit because you know, I don't want to and 202 00:15:00.159 --> 00:15:01.080 get I want to buy a house, but you know I don't want to 203 00:15:01.080 --> 00:15:07.559 actually take the steps so that that that brings me to this. I do 204 00:15:07.679 --> 00:15:11.519 get so many clients that are not interested in running their credit. So they 205 00:15:11.519 --> 00:15:16.759 come to me and essentially say, well, I will submit all of my 206 00:15:16.840 --> 00:15:20.440 documents and I will apply for a pre pre approval after I find the home 207 00:15:20.480 --> 00:15:26.399 that I like. So in this market, we don't have Yeah, we 208 00:15:26.480 --> 00:15:31.519 don't have that kind of time. It can if you need financing, that's 209 00:15:31.559 --> 00:15:33.559 the wrong way to go about it. That's the wrong way to go. 210 00:15:33.639 --> 00:15:37.799 And I'm you know, there's some clients where you know that they're well equipped, 211 00:15:37.799 --> 00:15:39.320 well prepared, you could probably get a pre approval right away, and 212 00:15:39.519 --> 00:15:41.960 you know, you might be a little forgiving for clients like that. But 213 00:15:43.000 --> 00:15:46.159 then there are others where you know that deal could it could be a little 214 00:15:46.159 --> 00:15:50.840 bit more difficult to put together because of their financial situation. So why is 215 00:15:50.879 --> 00:15:56.799 it important? Why is it important to get pre approved before you start looking 216 00:15:56.799 --> 00:16:00.559 for homes in this market? Well, I mean, who are want You 217 00:16:00.559 --> 00:16:03.480 want to know what you can afford? Number two, you want to know 218 00:16:03.519 --> 00:16:07.440 what payment you're going to have a lot of people are getting payment shock right, 219 00:16:07.559 --> 00:16:11.399 they're running things and they don't know that day and day out interest rates 220 00:16:11.519 --> 00:16:18.519 change. So if you don't get pre approved in advance, right, you 221 00:16:18.639 --> 00:16:23.720 might Number one, you might not know what you truly qualify for because most 222 00:16:23.799 --> 00:16:30.279 people don't. Right. You might have things on your credit that you forgot 223 00:16:30.320 --> 00:16:34.639 about. I get a lot of people that hey, credit carm or something 224 00:16:36.519 --> 00:16:40.600 not to just put them on last. But like says X yet I run 225 00:16:40.639 --> 00:16:44.200 credit and I see you know why all of a sudden, now we have 226 00:16:44.279 --> 00:16:48.240 issues that we have to deal with. How to prepare yourself to buy right. 227 00:16:48.759 --> 00:16:52.720 So if you, let's say you're getting a gift, right, that 228 00:16:52.759 --> 00:16:56.039 can make a difference, right, like how much money you're putting down, 229 00:16:56.279 --> 00:17:00.279 how much you really qualify for? What is your income rational? What is 230 00:17:00.320 --> 00:17:04.359 your actual income? Right? Because I get a lot of like I just 231 00:17:04.440 --> 00:17:07.440 got a one of my tenants actually reached out to me and he said, 232 00:17:07.480 --> 00:17:11.400 well I make x X amount of money. Great, well that's what I 233 00:17:11.440 --> 00:17:14.480 showed on my taxes. Okay, fantastic. Well I don't work out of 234 00:17:14.480 --> 00:17:17.599 the job anymore, and then I can't use that job. Right, did 235 00:17:17.640 --> 00:17:19.519 you even work for? He was trying to use two jobs at the same 236 00:17:19.559 --> 00:17:22.160 time. Right, that he did. However, he didn't do them for 237 00:17:22.160 --> 00:17:25.559 two years, so I can't use them, you know, I can all 238 00:17:25.640 --> 00:17:27.200 use one of the two. Yeah, when he stopped working halfway. So 239 00:17:27.279 --> 00:17:33.599 like there's just like there's just there's so much information out there, right, 240 00:17:33.920 --> 00:17:37.200 talking with an expert makes it a lot easier, right, it does. 241 00:17:37.240 --> 00:17:41.359 I don't know anything about the stock market, you know, I'm not an 242 00:17:41.400 --> 00:17:44.799 expert on the stock market. When I wanted to invest or, you know, 243 00:17:44.960 --> 00:17:48.720 like, um, let's say some type of life savings to the side 244 00:17:48.720 --> 00:17:52.200 on that I sat with, you know, on a financial advisor that knows 245 00:17:52.240 --> 00:17:56.400 a little bit better. Hey, you can buy X product by product and 246 00:17:56.480 --> 00:17:59.480 sit with that. If you're not going to actively do this, right, 247 00:17:59.599 --> 00:18:02.559 Okay, great, that's what I'll do. Right. I'm not a doctor. 248 00:18:02.599 --> 00:18:06.160 If I get sick, I'm not just gonna self treat myself, right, 249 00:18:06.480 --> 00:18:12.319 Right. And taxes, like like how much rental income you can use. 250 00:18:12.400 --> 00:18:15.799 Let's say you're buying a multi family house, right, and you want 251 00:18:15.799 --> 00:18:22.279 to buy a four family house. We've spoken about this before, where you 252 00:18:22.319 --> 00:18:25.599 look at something that's like seven eight, nine hundred thousand dollars, you know, 253 00:18:25.680 --> 00:18:27.279 for argument's sake, however the rents are like a thousand dollars for that 254 00:18:27.359 --> 00:18:33.400 market, Well, what you might qualify for that house? Right, Maybe 255 00:18:33.400 --> 00:18:37.160 the house doesn't qualify for the specific type alone you wanted to use. Right, 256 00:18:37.240 --> 00:18:41.359 So those are other things that like people don't really are not aware. 257 00:18:42.000 --> 00:18:47.119 Maybe whatever you're calculating, you know, costs you a lot more. Maybe 258 00:18:47.119 --> 00:18:49.119 you're not ready for the closing costs. What are the closing costs? What 259 00:18:49.119 --> 00:18:52.640 are you gonna pay for? Though? There's just there's just so many factors, 260 00:18:52.799 --> 00:18:59.839 right that going about it like backwards fine in the house, then rushing 261 00:19:00.039 --> 00:19:04.000 to get pre approved, right, you might miss something that actually is more 262 00:19:04.039 --> 00:19:07.480 beneficial to you. There might be a more beneficial program, because when you 263 00:19:07.559 --> 00:19:11.400 rush through anything, you don't do it correctly. However, if you get 264 00:19:11.440 --> 00:19:15.720 all yourself ready to submit it beforehand, and you say, hey, let's 265 00:19:15.799 --> 00:19:18.440 let's see what we can get pre approoveled for, we're all all you need 266 00:19:18.480 --> 00:19:21.960 to know is I'm looking in this area, right, so we can at 267 00:19:22.000 --> 00:19:25.319 least estimate whatever the taxes are going to be on the property. Right, 268 00:19:26.200 --> 00:19:29.599 Am I looking in a flood zone? Right? Like cloning trance is very 269 00:19:29.599 --> 00:19:34.200 expensive. A lot of people don't calculate into that. Am are the taxes 270 00:19:34.200 --> 00:19:41.720 on a property five thousand or fifteen thousand? Right? Are what else? 271 00:19:41.200 --> 00:19:45.640 Interest rates? Are they at five or they at seven? Right? Like 272 00:19:45.720 --> 00:19:48.839 you asked me that question. Hey, I thought they were a little bit 273 00:19:48.880 --> 00:19:49.720 lower, Right, I thought they were a little bit higher. Right. 274 00:19:49.759 --> 00:19:53.440 They're constantly changing. Right, So you want to you want to be aware 275 00:19:53.480 --> 00:20:00.119 of everything in advance. You don't want to start going looking and then a 276 00:20:00.119 --> 00:20:03.319 lot of places actually if you need financing, Like I've seen a lot of 277 00:20:03.359 --> 00:20:08.599 listing agents that they won't even like really make an appointment in advance. They'll 278 00:20:08.640 --> 00:20:11.279 be like, oh yeah, just come to the open house now, you 279 00:20:11.359 --> 00:20:15.400 got to go on their schedule instead of everybody else's like because you're not you're 280 00:20:15.440 --> 00:20:19.440 not showing that you're a serious buyer. You haven't taken the steps to be 281 00:20:19.519 --> 00:20:23.440 a serious buyer too though, correct, especially if they have, Like I 282 00:20:23.440 --> 00:20:27.759 said, fifteen offers, you know, as are fifteen offers, Why would 283 00:20:27.759 --> 00:20:30.279 you waste your time with the one person that's now Russian going to get prety 284 00:20:30.319 --> 00:20:33.240 proof? Correct? Not what seller is going to look at it? Well, 285 00:20:33.279 --> 00:20:36.440 I'm not going to do this because if they're rushing for this now, 286 00:20:36.480 --> 00:20:41.640 they're gonna drag this out forever, even on the so they automatically might disqualify 287 00:20:41.680 --> 00:20:44.400 you on that side. It's just how the market is. If this market 288 00:20:44.480 --> 00:20:47.839 was a little bit different where hey, listen, it's a buyer's market or 289 00:20:47.880 --> 00:20:52.359 whatever, and you have plenty of time, there's plenty of houses. You 290 00:20:52.400 --> 00:20:55.599 can go and see a bunch of houses right and say, you know what 291 00:20:56.200 --> 00:20:59.160 this is now that we see them, this is kind of what we want 292 00:20:59.160 --> 00:21:00.400 to stick to. Fine, you want to go that route at that point, 293 00:21:00.440 --> 00:21:04.519 no problem, not right now, right now. It's very very like 294 00:21:04.920 --> 00:21:10.920 again, very depends on the market, you know, on these very hot 295 00:21:10.960 --> 00:21:14.759 markets, you've got to be ready, you know, because on that spot 296 00:21:14.759 --> 00:21:18.039 I've done. I did a pre approval for someone at ten pm on a 297 00:21:18.119 --> 00:21:21.920 Sunday, and I was like, this needs to go in right now. 298 00:21:21.960 --> 00:21:23.599 She's I guess, like, I don't know why. I guess I don't 299 00:21:23.599 --> 00:21:27.079 know when they're meeting with them. I need to make sure I submitted before, 300 00:21:27.160 --> 00:21:30.559 you know, before tomorrow morning. So great, no problem, let's 301 00:21:30.599 --> 00:21:34.440 get it done right. It was easy because that client was pre approved. 302 00:21:34.440 --> 00:21:38.880 I just had to adjust it for whatever they were purchasing, so that like, 303 00:21:40.440 --> 00:21:44.039 technically I'm already working for that client. They already did everything with me. 304 00:21:44.480 --> 00:21:48.480 I checked everything for that, getting them re you know, technically updating 305 00:21:48.480 --> 00:21:52.640 their pre approval to the property they're purchasing. Now, that's easy. But 306 00:21:52.720 --> 00:21:56.960 imagine this client is sending me everything at ten pm at night, you know, 307 00:21:56.440 --> 00:22:00.519 and I have to rush through it to try to get them, you 308 00:22:00.559 --> 00:22:03.839 know, pre approved. It's much more difficult. And then also with all 309 00:22:03.920 --> 00:22:08.440 due respect to all parties involved, you know, um, I just think 310 00:22:08.480 --> 00:22:12.160 that, you know, a person who is serious about buying should just go 311 00:22:12.200 --> 00:22:15.880 and prepared. It just makes sense. You don't want to waste your own 312 00:22:15.880 --> 00:22:18.759 time. You don't want to waste the agent's time, you don't want to 313 00:22:18.759 --> 00:22:22.880 waste the lender's time. You don't want to waste the seller's agents time or 314 00:22:22.880 --> 00:22:27.960 the seller's seller's time. Because everybody now has to work backwards and you know, 315 00:22:29.039 --> 00:22:34.160 try to make haste. The sellers just won't won't like the seller won't 316 00:22:34.200 --> 00:22:38.000 consider it, you know, as a serious offer. If you're rushing now 317 00:22:38.839 --> 00:22:41.960 right, if you're again, if you're in the market, that's much slower, 318 00:22:41.960 --> 00:22:45.079 and it's a buyer's market by all means, do what you you know, 319 00:22:45.160 --> 00:22:48.640 whichever we want to do it. But if you're in a like a 320 00:22:48.759 --> 00:22:55.680 very active market with very low inventory and anything that's popping up it's literally gone 321 00:22:55.680 --> 00:22:59.640 by next weekend, you want to be prepared. Yeah, and pre approvals 322 00:22:59.680 --> 00:23:06.079 have to be submitted with an offer, yeah always Yeah, today's market, 323 00:23:06.119 --> 00:23:07.319 they don't want to just see what you're offering. They want to see that 324 00:23:07.359 --> 00:23:12.039 you're qualified too, so you know, preprooval has to go in. Oftentimes, 325 00:23:12.079 --> 00:23:15.440 people will list a home on a Thursday, which is the best day 326 00:23:15.440 --> 00:23:18.480 to list a home. They do open house over the weekend. They have 327 00:23:18.559 --> 00:23:22.359 multiple offers, they're going for highest and best on Tuesday or Wednesday the following 328 00:23:22.400 --> 00:23:26.079 week Like, these things move very quickly. And if you don't have a 329 00:23:26.160 --> 00:23:29.400 lender like yourself that's willing to work on a file over the weekend because a 330 00:23:29.400 --> 00:23:30.880 lot of people take off and they do their own thing and they're not working 331 00:23:32.079 --> 00:23:34.319 or what have you, it's very, very tough to put all of those 332 00:23:34.359 --> 00:23:38.759 things together at the very last minute. And God forbid, you see a 333 00:23:38.799 --> 00:23:41.880 house that you like, that you love, that you want to make an 334 00:23:41.920 --> 00:23:45.400 offer for, and you don't qualify for it. You know, it's just 335 00:23:45.440 --> 00:23:48.480 like everybody's spinning their wheels all the you know, just to find out that 336 00:23:48.480 --> 00:23:55.759 that's not the right purchase for you. In so, looking at today's market, 337 00:23:55.799 --> 00:23:59.119 I think there's a sense of urgency for people to invest because of all 338 00:23:59.160 --> 00:24:03.319 of the things that are going on are allegedly going to happen, and you 339 00:24:03.319 --> 00:24:06.880 know, people are panicking and everybody wants to make sure that they're financially secure 340 00:24:06.920 --> 00:24:11.039 for the future. So you see a lot of people now thinking about real 341 00:24:11.119 --> 00:24:14.680 estate as an investment. And as we know it, real estate is one 342 00:24:14.720 --> 00:24:18.720 of the most promising investments that anybody could make in a lifetime. It is 343 00:24:19.000 --> 00:24:26.200 an investment that is recommended for everyone to make during their lifetime. And I 344 00:24:26.240 --> 00:24:29.599 feel like right now everybody has this is feeling the sense of urgency because they 345 00:24:29.599 --> 00:24:34.839 don't you know, people want to have a financial security. So in twenty 346 00:24:34.920 --> 00:24:38.880 twenty three, like, let's talk right now, why is it important for 347 00:24:38.920 --> 00:24:45.680 people who qualify to get pre approvals right now? Well, I mean a 348 00:24:45.720 --> 00:24:49.599 lot of things are changing, right so those the loan level of price adjustments 349 00:24:49.640 --> 00:24:53.759 I was talking about earlier, like the LPAs for someone theer's they still have 350 00:24:53.799 --> 00:24:59.680 them fully gone into effect, but they will, right, So when you 351 00:24:59.720 --> 00:25:03.680 get preapproved, if you get pre approved let's say today, right, whatever 352 00:25:03.880 --> 00:25:07.799 rate or anything like that they might qualify for today might not be the same 353 00:25:07.839 --> 00:25:14.480 case in three to six months. Right. So if you're like working with 354 00:25:14.519 --> 00:25:17.519 somebody that can kind of you know, and and a lot of times, 355 00:25:17.680 --> 00:25:19.440 you know, we already see whatever they're going to be out there, and 356 00:25:21.000 --> 00:25:25.359 we can check. I have access, I can contact my account executive and 357 00:25:25.400 --> 00:25:30.359 say what are these changes going to happen, and work with somebody so and 358 00:25:30.839 --> 00:25:37.200 on top of everything else, I and you work in multiple states as well, 359 00:25:37.279 --> 00:25:42.240 But I don't really see prices or any of that going down right now. 360 00:25:42.359 --> 00:25:47.119 If rates to come down, you know, by the end of the 361 00:25:47.200 --> 00:25:51.640 year or let's say by next year. Right, there's already a low level 362 00:25:51.759 --> 00:25:56.720 inventory with houses on the market. The houses that are coming onto the market 363 00:25:56.720 --> 00:26:00.240 like new construction, not resales or things like that, are still very historically 364 00:26:00.240 --> 00:26:04.359 low. And there's just so many more households that have formed over the years 365 00:26:04.680 --> 00:26:10.920 that are ready to purchase, right, but they have nowhere to go purchasing 366 00:26:11.000 --> 00:26:15.440 today, right or getting pre approved today and working and getting into your house 367 00:26:15.440 --> 00:26:18.680 today at least kind of secures me that you can make the changes you need 368 00:26:18.720 --> 00:26:21.680 to. So let's say they do come down down the line, right, 369 00:26:22.279 --> 00:26:26.079 you can refinance and hopefully get a lower rate, or sell again at a 370 00:26:26.119 --> 00:26:32.039 profit, whatever the case may be. But I I just see like this 371 00:26:32.160 --> 00:26:37.640 market just constantly becoming more competitive, you know, every single offer, and 372 00:26:37.119 --> 00:26:41.799 depending on the areas and depending on the price point as well, right, 373 00:26:41.839 --> 00:26:45.279 because if you're talking like multimillion dollar purchases and you might have a lot more 374 00:26:45.279 --> 00:26:52.119 wiggle room there. But like I'm seeing the meat and potatoes of housing, 375 00:26:52.240 --> 00:26:56.880 where like most of us will qualify for is extremely competitive. It just isn't 376 00:26:57.000 --> 00:27:03.000 really anything out there. Anything comes on the market immediately. So like getting 377 00:27:03.000 --> 00:27:07.599 ready today, especially pre so spring season technically has started, right, I 378 00:27:07.599 --> 00:27:14.200 think we can both agree on that, Um, get getting it done now 379 00:27:14.279 --> 00:27:18.160 so you can kind of prepare, you know, especially I like getting as 380 00:27:18.279 --> 00:27:22.920 as this market continues for the rest of this year. Um, I think 381 00:27:22.960 --> 00:27:26.880 it's just going to get continuously more competitive. Houses have started coming on the 382 00:27:26.920 --> 00:27:30.799 market. It's just no, like it's not bridging that gap of how much 383 00:27:30.880 --> 00:27:34.680 is needed versus how much is selling, right, So it's just so much 384 00:27:34.720 --> 00:27:40.599 more competitive. I think not to discourage anybody, but you know, see 385 00:27:40.720 --> 00:27:44.000 see what you qualify for and go after it. You see something you like, 386 00:27:44.359 --> 00:27:47.519 It's not really a long waiting game. You need to immediately sit there 387 00:27:47.519 --> 00:27:52.519 and make a purchase, make an offer, and continue with with with with 388 00:27:52.559 --> 00:27:57.160 your purchase, and hopefully rates do come down. But if they don't, 389 00:27:57.319 --> 00:28:02.279 let's say, I think a lot of people are not really utilizing like what's 390 00:28:02.279 --> 00:28:03.359 out there. Like, you know, there's still buy downs out there. 391 00:28:03.559 --> 00:28:07.119 Everyone was talking about them last year and then that like everyone just stopped. 392 00:28:07.519 --> 00:28:11.039 Right, if you can still do a two to one buy down, or 393 00:28:11.039 --> 00:28:14.279 they can still try to find in some of their closing costs, you know, 394 00:28:14.319 --> 00:28:18.240 they can still do all these things to help them offset the payment for 395 00:28:18.279 --> 00:28:22.640 a little bit, you know. So I think a lot of people are 396 00:28:22.680 --> 00:28:26.039 just not taking advantage of a lot of these programs. I usually tell all 397 00:28:26.039 --> 00:28:30.400 of my clients that hey, this is what exists, this is what you 398 00:28:30.440 --> 00:28:34.240 can do, um and they're just very like set in their way. It's 399 00:28:34.279 --> 00:28:37.319 no, no, this is what I want to do, right, Like 400 00:28:37.440 --> 00:28:41.559 I'm gonna go to my bank. Yeah, to my bank, because I 401 00:28:41.640 --> 00:28:48.079 bank with them and I trust them. Unless you got millions in the bank. 402 00:28:48.079 --> 00:28:52.559 It really makes no difference to them, right, So like, um, 403 00:28:52.960 --> 00:28:56.759 I do see a lot of like and you have to on the on 404 00:28:56.960 --> 00:29:02.119 pre approvals coming in from them that were like things haven't really been checked out, 405 00:29:02.799 --> 00:29:07.240 the income and assets and all this other stuff, because they can essentially 406 00:29:07.640 --> 00:29:11.480 give you a prequalification just based off of what you tell them, right, 407 00:29:11.839 --> 00:29:15.079 and they issue that too. They run they see your credit all the time, 408 00:29:15.160 --> 00:29:19.559 so you know they issue, they run it, issue, issue, 409 00:29:21.559 --> 00:29:26.680 issue a preval a prequalification from their side, and then you're not qualified for 410 00:29:26.720 --> 00:29:30.599 that or you're not qualified for the house. Right. I had a scenario 411 00:29:30.680 --> 00:29:37.799 where someone counted detached garage like this was a major big bank counted a detached 412 00:29:37.799 --> 00:29:42.400 garage as at that time an accessory dwelling unit, and they said they don't 413 00:29:42.400 --> 00:29:48.960 finance those type of properties. That deal was such an easy deal for me, 414 00:29:48.200 --> 00:29:53.200 like a very simple, great clients, amazing credit, more than fifty 415 00:29:53.279 --> 00:29:57.559 percent down payment, which is like I went crazy, I can't believe. 416 00:29:57.640 --> 00:30:02.839 Yeah, just such an eat for us, such an easy deal. But 417 00:30:03.359 --> 00:30:06.119 that bank was like, hey, we don't don't finance that, you know, 418 00:30:06.599 --> 00:30:08.240 and then at that point, you know, it didn't matter whatever rate 419 00:30:08.240 --> 00:30:12.480 they were offering, which I still actually beat. But you know, because 420 00:30:12.480 --> 00:30:18.440 they don't, they don't do those type of deals. I try to tell 421 00:30:18.480 --> 00:30:21.480 people as much as possible, like, you know, my job is to 422 00:30:21.519 --> 00:30:23.160 shop it around for everybody, right, That's what I do. Like, 423 00:30:23.200 --> 00:30:27.119 I don't work for one specific bank. We work with over thirty different banks. 424 00:30:27.519 --> 00:30:33.000 So when someone comes in, depending on everything that they have, it 425 00:30:33.079 --> 00:30:34.880 might make more sense to go to bank aid than Bank B for them, 426 00:30:36.160 --> 00:30:40.680 right, for whatever reason it may be. And that's what we do. 427 00:30:40.799 --> 00:30:44.200 So we'll price them all out and I say, hey, these are the 428 00:30:44.279 --> 00:30:47.799 approximate rates you're looking at. Right, If they're within let's say an eighth 429 00:30:47.799 --> 00:30:52.200 of each other a few basis points, you know, I'll explain that to 430 00:30:52.240 --> 00:30:56.079 the pine. But then they also have options, people like don't have to 431 00:30:56.559 --> 00:31:00.880 take the rate that they get offered. Everybody gets offered let's say the cheapest 432 00:31:00.960 --> 00:31:03.920 rate possible to them. They can always buy down the rate if they wanted 433 00:31:03.960 --> 00:31:07.039 to. They can you know, go with a different program that they qualify 434 00:31:07.160 --> 00:31:11.160 for. There's just so there's just so many options. I really think, 435 00:31:11.240 --> 00:31:15.079 like sitting down with someone getting pre approved and then hey, let me run 436 00:31:15.119 --> 00:31:18.079 out and go, you know, find that type of house that I'm looking 437 00:31:18.119 --> 00:31:22.000 for. That's the right way to go about it. And we're seeing a 438 00:31:22.039 --> 00:31:26.720 lot more clients people like a lot of people I think are becoming more privy 439 00:31:26.759 --> 00:31:30.480 to that information and they're going to their little officer first and they're like, 440 00:31:30.519 --> 00:31:33.559 Okay, now I know what I'm approved for it, let me start shopping. 441 00:31:33.880 --> 00:31:36.759 The ones that are not doing that are the ones that are losing out 442 00:31:37.279 --> 00:31:40.440 and they're getting discouraged. But if you didn't take the right steps to begin 443 00:31:40.559 --> 00:31:42.759 with, of course you're going to get discouraged. You're trying to submit an 444 00:31:42.799 --> 00:31:48.599 offer, you have fifteen offers with pre approvals, assets, everything in hand. 445 00:31:48.680 --> 00:31:51.519 They're getting that. Of course, the seller's gonna say, well, 446 00:31:51.559 --> 00:31:53.599 these people are already did the most of that. Have you lifted up front? 447 00:31:56.200 --> 00:32:00.839 Yeah? I mean yeah, I mean it's true. Action is really, 448 00:32:00.839 --> 00:32:04.160 really important. So you want to understand why it's important to get pre 449 00:32:04.200 --> 00:32:07.119 approved in the first place. You want to understand why it's important to get 450 00:32:07.119 --> 00:32:10.880 pre approved now. Right in twenty twenty three, there is a sense of 451 00:32:10.960 --> 00:32:15.720 urgency to make investments. Everybody wants to be financially secure. Real estate is 452 00:32:15.720 --> 00:32:20.480 one of them. The more promising investments a person can make in a lifetime. 453 00:32:21.079 --> 00:32:23.480 And then I also think that regardless of the interest rates, people are 454 00:32:23.480 --> 00:32:28.359 forgetting about that equity piece. It's really really important. And you did a 455 00:32:28.440 --> 00:32:34.200 real on something that spoke to equity, and I think you mentioned in the 456 00:32:34.279 --> 00:32:38.279 Real you said something like, you know, making a purchase now and what 457 00:32:38.440 --> 00:32:42.400 it's what it's going to look like in the next couple of years, and 458 00:32:42.440 --> 00:32:46.599 how real estate historically is always increasing. People's the tendency to forget about that 459 00:32:46.680 --> 00:32:50.400 piece. They're thinking about the payment, they're thinking about the interest rate, 460 00:32:50.599 --> 00:32:53.200 they're thinking about what it's going to cost them, not how much it's going 461 00:32:53.240 --> 00:32:59.680 to make them. And I think that's a really important part to talk about 462 00:32:59.680 --> 00:33:06.839 when educating your clients or um when even educating sellers you know that are wanting 463 00:33:06.839 --> 00:33:09.039 to sell. Some some sellers don't even realize, you know, what they 464 00:33:09.039 --> 00:33:14.000 could net after the sale. They're not they're not doing the numbers in their 465 00:33:14.000 --> 00:33:15.519 head. They don't know how to do the numbers, you know. They 466 00:33:15.519 --> 00:33:19.440 don't don't they don't understand where they are and where they could be in the 467 00:33:19.480 --> 00:33:22.759 next two years. Sometimes it's better to sell now while it's hot. Yeah, 468 00:33:23.839 --> 00:33:28.640 before waiting and you know, perhaps next year is not going to be 469 00:33:29.079 --> 00:33:35.119 as as busy. So I think equity is huge. Yeah, absolutely, 470 00:33:35.160 --> 00:33:40.759 some when I think I remember the reality you're talking about, it was everyone 471 00:33:40.960 --> 00:33:45.400 is like when you're worried about the payment. Part of that payment, you 472 00:33:45.440 --> 00:33:50.279 know, you're directly paying down the debt that you borrowed, right, part 473 00:33:50.279 --> 00:33:52.000 of it is going to interest, right, part of it goes source of 474 00:33:52.079 --> 00:33:58.839 debt. So at the end of the year, even though the I think 475 00:33:58.839 --> 00:34:02.279 the better way to look at it is instead of putting money into let's say 476 00:34:02.279 --> 00:34:07.000 a savings account, right whatever you can, because you're gonna have a payment 477 00:34:07.000 --> 00:34:12.320 if you have to live somewhere, you're basically paying down your house. That's 478 00:34:12.400 --> 00:34:15.679 your new savings account, right, Yes, So you're constantly doing that year 479 00:34:15.760 --> 00:34:21.440 and year out. There was and I have these these graphs. They're actually 480 00:34:21.519 --> 00:34:24.320 fantastic where if you are, if you don't think you're going to live in 481 00:34:24.320 --> 00:34:30.239 this house for more than like one year, two years, it actually makes 482 00:34:30.480 --> 00:34:34.159 kind of more sense for you to just rent, right, So if you're 483 00:34:34.159 --> 00:34:36.559 going to be in there, in there for a very short period of time, 484 00:34:36.880 --> 00:34:39.960 rent, don't buy. Right. However, as soon as you passed 485 00:34:40.000 --> 00:34:44.800 those first two years, because there's costs associated with purchasing, right, you 486 00:34:44.880 --> 00:34:46.440 have closing costs, you of all the other stuff. As soon as you 487 00:34:46.519 --> 00:34:51.199 pass those two years, you know you're no longer breaking even you're already in 488 00:34:51.239 --> 00:34:53.440 the green, right if you own a house, even with the costs of 489 00:34:53.559 --> 00:35:00.880 selling it, right and every single year thereafter taking a very very very very 490 00:35:00.559 --> 00:35:09.559 conservative rate of increase on prices right on real estate historically looking at whatever happened 491 00:35:09.559 --> 00:35:14.480 before and just taking a very conservative rate of increase. When you compare that 492 00:35:14.679 --> 00:35:19.400 to your rent right, and I saw it on a four hundred and fifty 493 00:35:19.440 --> 00:35:22.360 thousand dollars purchase right at like six and a half percent interest rate and so 494 00:35:22.440 --> 00:35:27.599 on. When you compared the difference you would by the end of like year 495 00:35:27.800 --> 00:35:31.159 nine, I think it was you were positive two hundred and forty thousand dollars. 496 00:35:31.280 --> 00:35:37.159 Right, that included appreciation plus the principal paid down because you're paying your 497 00:35:37.159 --> 00:35:40.199 house down constantly every single year, versus on the other side. Right, 498 00:35:40.480 --> 00:35:45.039 rental increases could be two three percent a year, right, someplaces saw fifteen 499 00:35:45.119 --> 00:35:50.519 twenty percent. That's like crazy, Let's save them like three percent every year 500 00:35:50.599 --> 00:35:53.519 three or four percent when you compare that to the difference, and don't forget 501 00:35:53.559 --> 00:35:58.400 it's compounding, right, It's not just three percent. If you're paying a 502 00:35:58.480 --> 00:36:01.679 thousand, it's not just thirty dollars every year. It's thirty dollars year one, 503 00:36:01.880 --> 00:36:06.719 and I think it's thirty something, thirty six or forty plus whatever on 504 00:36:06.760 --> 00:36:08.719 top and on top, and on top and on top. By year or 505 00:36:08.760 --> 00:36:13.440 ten, you're really up there and rent and that's when you never get back. 506 00:36:14.159 --> 00:36:17.800 Yeah, you're moving out. That's it, you know, even and 507 00:36:17.840 --> 00:36:21.880 I'll send you this chart. It was fantastic because it really like it breaks 508 00:36:21.880 --> 00:36:25.679 it down to the numbers. Right. Real estate historically, if we look 509 00:36:25.719 --> 00:36:31.599 back all I think it was like the forties or fifties, it had such 510 00:36:31.599 --> 00:36:37.039 a short like it would go up let's say over five or ten years. 511 00:36:37.239 --> 00:36:40.320 It went up like one hundred percent. Then it went a little bit less, 512 00:36:40.320 --> 00:36:43.320 you know, one two three, one two three, one two yearns 513 00:36:43.320 --> 00:36:46.199 so on and again five, ten, fifteen, twenty percent kept up with 514 00:36:46.239 --> 00:36:51.079 inflation or surpassed it a lot of times. Right, the price increases. 515 00:36:51.599 --> 00:36:55.079 The only downturn we had, right, the real downturn, because there were 516 00:36:55.119 --> 00:37:00.280 a couple of the years that had like a one percent price decreases over a 517 00:37:00.360 --> 00:37:05.280 year over year. The only real downturn was two thousand and eight, anyone 518 00:37:05.679 --> 00:37:07.400 two thousand and eight to two thousand and nine, thousand, even whatever, 519 00:37:07.480 --> 00:37:10.880 until it caught up and started going back up again. Anyone that looks at 520 00:37:10.920 --> 00:37:15.599 that and just consistently waits because it's so fresh in our head, that's all 521 00:37:15.639 --> 00:37:17.760 we know, right, you know what I know? It like I was 522 00:37:17.800 --> 00:37:22.239 going out of high school in oh seven, going into college in oait or 523 00:37:22.320 --> 00:37:27.840 seven away, and no one wanted to be in real estate because everything started 524 00:37:27.840 --> 00:37:30.159 crashing, right, Everyone was in it, and no one wanted to hear 525 00:37:30.199 --> 00:37:35.719 about it. Anyone that invested from that point forward is a millionaire today, 526 00:37:36.559 --> 00:37:40.760 I know, Like I oh yeah, sorry, mull sorry. Anybody who 527 00:37:40.760 --> 00:37:45.320 purchased during that year is definitely a funny upside. But what happened back then, 528 00:37:45.639 --> 00:37:50.480 Right, if you were in anyone that was in real estate between two 529 00:37:50.519 --> 00:37:54.119 thousand and one or two to two thousand and two thousand and eight, if 530 00:37:54.119 --> 00:38:00.840 you had a post, you got a mortgage shop right the barrier from NBS 531 00:38:00.920 --> 00:38:04.320 Highway. Love him he you know, all he is is about numbers and 532 00:38:04.360 --> 00:38:07.400 grabs and charts, like he really pays attention to all this other stuff. 533 00:38:07.519 --> 00:38:10.679 Is like if you could breathe on a mirror, you've got a mortgage. 534 00:38:10.719 --> 00:38:15.199 At that time, major fraud, right, anyone was able to get a 535 00:38:15.280 --> 00:38:21.920 pull. There was massive, massive increase in building, which hasn't happened since 536 00:38:21.960 --> 00:38:25.880 then. Right, So it was a completely different market. Anyone waiting on 537 00:38:25.920 --> 00:38:31.519 that, right, is in for a surprise because it's very difficult to have 538 00:38:31.719 --> 00:38:35.840 you know, housing go down, hunter crashing or any of this other stuff 539 00:38:36.280 --> 00:38:40.079 where when there is no housing for sale, Yeah, how many people. 540 00:38:40.599 --> 00:38:44.760 It's also hard for people to struggle on two to three percent, you know, 541 00:38:44.920 --> 00:38:46.760 two to three percent interest rates, and even if they are, they're 542 00:38:46.760 --> 00:38:52.280 sitting on such massive amounts of equity. Right, the average loans to value 543 00:38:52.519 --> 00:38:58.760 throughout the country is about forty eight percent. That means people have fifty two 544 00:38:58.800 --> 00:39:02.159 percent of equity in their houses on average. Right, Like taking everybody's more 545 00:39:02.159 --> 00:39:08.039 in driving, some people probably put less money down. There's just every sign 546 00:39:08.079 --> 00:39:15.679 points the other way, you know that they're really waiting for prices to truly 547 00:39:15.760 --> 00:39:20.760 come down or do all this other stuff. I don't see it, right, 548 00:39:21.159 --> 00:39:23.360 I'm seeing less and less houses, right, Like in the three four 549 00:39:23.440 --> 00:39:28.440 hundred thousand dollars range used to have plenty. I remember in two thousand and 550 00:39:28.480 --> 00:39:31.719 twelve, I personally was looking twenty twelve thirteen at a house. It was 551 00:39:31.760 --> 00:39:36.840 like one hundred and nineteen thousand dollars beautiful house, needed nothing that people were 552 00:39:36.880 --> 00:39:40.280 just retiring. They wanted to move away. I didn't know what interest rates 553 00:39:40.280 --> 00:39:44.280 were then. I wasn't in the business, right all. I looked at, 554 00:39:44.320 --> 00:39:46.559 hey, what's the payment going to be? What can I afford? 555 00:39:47.119 --> 00:39:51.519 Right? Every single month? Can I afford to buying this house? It 556 00:39:51.639 --> 00:39:53.559 was a single family house. I wanted to move into it, right. 557 00:39:53.800 --> 00:39:58.880 I did the math, and I knew based off of how I was living 558 00:39:58.920 --> 00:40:00.880 at that point, I was like, Wow, can't afford that payment? 559 00:40:00.719 --> 00:40:05.079 Taxes were astronomical? Right, obviously that's maybe my house was so cheap. 560 00:40:05.199 --> 00:40:07.639 That same house had I bought it from one nine team, right, I 561 00:40:07.719 --> 00:40:14.320 know that neighborhood. It was in the Roselle Park in New Jersey, Okay, 562 00:40:15.360 --> 00:40:17.159 that house would be well over five hundred thousand dollars if not more. 563 00:40:17.440 --> 00:40:23.480 It was massive, right split level pulled the homeline for that price, then 564 00:40:23.960 --> 00:40:27.880 I would have made a ton of money on it. I didn't need to 565 00:40:27.880 --> 00:40:30.920 put a penny in outside of just make my payments. Right. But if 566 00:40:30.960 --> 00:40:34.119 I was only making my payments from that point till now, I'd probably all 567 00:40:34.199 --> 00:40:36.719 had fifty grand, sixty grand, if you know, maybe a little bit 568 00:40:36.719 --> 00:40:40.400 more. But you know, it was it's it's nothing and all that money 569 00:40:40.400 --> 00:40:43.639 that I could just have put in my pocket, and I bought it and 570 00:40:43.719 --> 00:40:49.960 sold it now and moved into somebody else, right right, So it's I 571 00:40:50.239 --> 00:40:53.119 again at that time, to me, I'm kicking myself in a butt because 572 00:40:53.320 --> 00:40:58.159 I made a massive mistake in not buying it. Right. I was being 573 00:40:58.239 --> 00:41:00.000 greedy. I was saying, well, half to go out, you know, 574 00:41:00.400 --> 00:41:04.920 I have to do X, Y and Z. It was all like 575 00:41:05.360 --> 00:41:08.199 how else can I blow my money versus, hey, let me actually just 576 00:41:08.239 --> 00:41:14.920 invest it into this, right. I think people really need to sit like 577 00:41:15.000 --> 00:41:19.960 and assess what they really want to do. If they if they really want 578 00:41:19.960 --> 00:41:22.320 to buy a house, they need to sit down, get pre approved, 579 00:41:22.719 --> 00:41:25.800 get out there submitting offer fixe something they like, right do you? Just 580 00:41:27.280 --> 00:41:30.880 time is not on our side, especially when there's just so few houses for 581 00:41:30.000 --> 00:41:35.039 sale, right right. Well, I'm excited for the market either way. 582 00:41:35.079 --> 00:41:37.920 I mean, if the prices you're up, I'm excited to work with investors. 583 00:41:37.000 --> 00:41:42.559 If the prices stay the same, we're keep increasing and the market is 584 00:41:42.599 --> 00:41:45.360 busy, I'm happy to continue working with buyers and sellers. I was listening 585 00:41:45.400 --> 00:41:49.400 to one thing that you were saying, and I know that you know, 586 00:41:49.480 --> 00:41:52.000 depending on how long you're going to be in at home, sometimes it makes 587 00:41:52.039 --> 00:41:53.559 more sense to rent. Obviously, you have to look at your savings, 588 00:41:53.599 --> 00:41:58.440 what you're qualified for in all those things. What do you think about investing 589 00:41:58.440 --> 00:42:02.679 in a multi family right where you have one vacancy, you occupy that vacancy, 590 00:42:02.800 --> 00:42:06.920 you have the other two the other two apartments two or three or even 591 00:42:07.000 --> 00:42:09.760 one helping to carry the mortgage, and after you're in the house for about 592 00:42:09.800 --> 00:42:14.679 a year or two, you then go ahead and rent it out or you 593 00:42:14.800 --> 00:42:21.599 rent it your Honestly, I think I think that's genius right for everybody to 594 00:42:21.679 --> 00:42:25.880 do. However, the the analogy I was using was, Hey, if 595 00:42:25.880 --> 00:42:29.840 you're looking for a single family home, right, I was just feeling, 596 00:42:29.840 --> 00:42:32.239 you don't want to be a landlord and or any of this. If you 597 00:42:32.320 --> 00:42:37.159 are looking and you're open to becoming an investor, right, then that is 598 00:42:37.320 --> 00:42:43.599 that is to go about it absolutely, because you can buy with three and 599 00:42:43.599 --> 00:42:45.360 a half percent, then if you don't want anything else, right, up 600 00:42:45.360 --> 00:42:51.320 to four units even makes use, you know, if it's more residential than 601 00:42:51.440 --> 00:42:55.159 than commercial. However, let's just say you're buying a three or four family 602 00:42:55.159 --> 00:43:00.159 house. For the most part, especially when it comes to FHA as well, 603 00:43:00.199 --> 00:43:02.199 they do the self sufficiency test, which is what I was talking about 604 00:43:02.239 --> 00:43:09.840 earlier, where the house has to technically, right three out of the four 605 00:43:09.960 --> 00:43:14.320 units at seventy five percent rents or technically, let's say three out of four 606 00:43:14.559 --> 00:43:17.239 if they're rented, they have to cover the entire mortgage, meaning once you 607 00:43:17.360 --> 00:43:22.000 do move out, if you change nothing about your mortgage, you never even 608 00:43:22.039 --> 00:43:25.599 refinance. Technically, that unit that you were occupied should just be money you 609 00:43:25.679 --> 00:43:32.360 pocket, right by their own rules. So they're already setting you up to 610 00:43:34.039 --> 00:43:37.400 technically become an investor, to become an investor. I was just going to 611 00:43:37.480 --> 00:43:40.760 say that, that's so there're preparing people they you know, for that, 612 00:43:40.840 --> 00:43:46.840 and I think everyone thinks too deep, you know, like or too far 613 00:43:46.880 --> 00:43:51.119 out. You have to you should put money to the side all the time. 614 00:43:51.159 --> 00:43:52.760 You should always have savings right no matter what, no matter whether you're 615 00:43:52.800 --> 00:43:57.920 rent or buy whatever. If something breaks, great, your landlord, you 616 00:43:58.000 --> 00:44:00.840 fix it, right, that's right, you put money to the siphone, 617 00:44:00.880 --> 00:44:04.440 you have savings. Right. However, let's say you buy that house, 618 00:44:04.480 --> 00:44:07.719 you do whatever you need to do it. Yes, you're one you not 619 00:44:07.960 --> 00:44:10.119 might not be making money on it, but don't forget you are paying on 620 00:44:10.159 --> 00:44:16.400 any mortgage. Right. You're also utilizing the interest on your mortgage against your 621 00:44:16.440 --> 00:44:20.480 taxes, so you're gonna get hopefully a little bit more money back. And 622 00:44:20.639 --> 00:44:23.440 he repairs or anything you put onto that house. It's a multi family right 623 00:44:23.719 --> 00:44:28.360 to write that off in your schedule lead right. This is more for like 624 00:44:28.400 --> 00:44:34.199 accountants to explain to the to the to the homeowner. However, those are 625 00:44:34.239 --> 00:44:37.400 things that will help you out, and then you turn around and you rent 626 00:44:37.440 --> 00:44:39.199 it out and you can move somewhere else. Now you can end up truly 627 00:44:39.280 --> 00:44:44.159 living for free and pocketing that difference. So you either could put that money 628 00:44:44.159 --> 00:44:47.239 into your pocket or you can use it to pay something else. You're letting 629 00:44:47.239 --> 00:44:52.760 your assets basically offset something else for you. You're able to do that the 630 00:44:52.880 --> 00:45:00.280 right way. You can easily have Let's say you could do it for three 631 00:45:00.360 --> 00:45:05.280 two so seven nine units and then end up living in ten units and end 632 00:45:05.360 --> 00:45:08.280 up buying the two family wherever you want to end up living long term within 633 00:45:08.360 --> 00:45:13.800 like a five year period, right, because it takes time to find it, 634 00:45:13.840 --> 00:45:15.360 to buy it, to move into it, to move out, to 635 00:45:15.440 --> 00:45:19.320 rent it out, to do it again. All of this takes time. 636 00:45:19.400 --> 00:45:23.320 Nothing is overnight. But imagine you have ten units paying you, right you 637 00:45:24.760 --> 00:45:28.960 if you know, seventy five percent of all of those are all paying the 638 00:45:29.000 --> 00:45:32.519 mortgage and the rest is just you know, left to you. Always remember 639 00:45:32.519 --> 00:45:37.719 that part of that mortgage payment that the other rentals are paying is still money 640 00:45:37.760 --> 00:45:42.360 in your pocket. You're paying down your debt. You know, your net 641 00:45:42.400 --> 00:45:46.440 worth is just constantly increasing, right, you know. Right, So now 642 00:45:49.119 --> 00:45:52.039 I'm a buyer and after listening to our amazing conversation today, I want to 643 00:45:52.079 --> 00:45:57.760 purchase or I want to invest, Like, what is what does that preapproval 644 00:45:58.320 --> 00:46:01.199 process look like? It's so dawn to so many people. People get discouraged. 645 00:46:01.239 --> 00:46:06.639 They're afraid to submit their documents, they're afraid of the answer they're going 646 00:46:06.719 --> 00:46:09.760 to get. They you know, they drag their feet some people, and 647 00:46:09.800 --> 00:46:13.880 then you have others that are willing to cooperate. But what does that process 648 00:46:13.920 --> 00:46:15.920 look like. For if I want to purchase a single family home versus a 649 00:46:16.000 --> 00:46:20.239 multifamily home, Like, how can you preapprove me for that? What do 650 00:46:20.280 --> 00:46:22.519 I need to give you? What does that look like? What does it 651 00:46:22.599 --> 00:46:29.320 mean? What's the difference between single family and multifamily preapprovals? Yeah? Simple? 652 00:46:29.599 --> 00:46:32.679 Right? So every bank and every young writer wants to see two years 653 00:46:32.679 --> 00:46:37.000 of tax returns, and that is to show that, hey, you have 654 00:46:37.119 --> 00:46:42.079 been consistent employee. You can change jobs, that doesn't matter. You can 655 00:46:42.639 --> 00:46:45.719 you change fifteen different jobs. You change fifteen different jobs. Right. Then 656 00:46:45.760 --> 00:46:51.239 they want to see your current pace stops one month of your most recent job 657 00:46:51.280 --> 00:46:54.599 wherever you're working now, we want to see that assets, right, bank 658 00:46:54.679 --> 00:46:59.119 statements, So we want to know how much tame you put down and how 659 00:46:59.199 --> 00:47:01.159 much do you have for close costs? Do we need to get a seller's 660 00:47:01.159 --> 00:47:06.599 credit to help you offset one or the other? Right? Um? And 661 00:47:06.719 --> 00:47:08.320 the last thing is ideas, right, like a driver's license, so that 662 00:47:08.440 --> 00:47:13.280 you know so you are who you are. Once you have all of those, 663 00:47:13.519 --> 00:47:16.559 then we put everything together, put a loan application together. It's not 664 00:47:17.039 --> 00:47:21.239 we're not going to actually go through with everything. We're going to run it 665 00:47:21.280 --> 00:47:24.320 through desktop on the writer, which is Fannie MAE guidelines. Basically they check 666 00:47:24.360 --> 00:47:29.880 everything off and say, hey, this person's approved for this type of mortgage. 667 00:47:30.559 --> 00:47:35.400 Um. Once all that's done, you're technically preapproved. Right, We're 668 00:47:35.400 --> 00:47:37.519 going to check your credit obviously if we want to know, and we're one, 669 00:47:37.559 --> 00:47:43.280 what your credit score is and how much liabilities do you have. The 670 00:47:43.360 --> 00:47:45.400 reason I keep saying that people need to really, you know, figure out 671 00:47:45.400 --> 00:47:51.920 what payment they're comfortable with is banks. Banks are underwriters and everybody they're like 672 00:47:52.119 --> 00:47:58.119 computers, right, so they work off everything with ratios and numbers. Right, 673 00:47:58.159 --> 00:48:00.440 So we want to be we want to have a debt to income really 674 00:48:00.480 --> 00:48:05.480 short, a certain percentage that gets you approved. Now I can maximize that, 675 00:48:05.599 --> 00:48:07.960 right, But if I maximize that number, I could put you in 676 00:48:08.000 --> 00:48:12.320 a position where, hey, now I'm struggling in every single month, right 677 00:48:12.360 --> 00:48:15.920 because I bring in five thousand dollars and twenty five hundreds out the window. 678 00:48:16.000 --> 00:48:21.480 Realistically, I'm only bringing you know, let's say three thousand or thirty five 679 00:48:21.519 --> 00:48:24.480 hundred half to taxes. But that one thousand difference we're not taking into account 680 00:48:24.480 --> 00:48:30.000 you know, utilities and other things. So that's why knowing what your payment 681 00:48:30.119 --> 00:48:34.920 is going to be approximately is a massive health if you get pre approved for 682 00:48:34.960 --> 00:48:37.559 a specific amount for a single family house. Right. When you look at 683 00:48:37.679 --> 00:48:44.760 multifamilies, we can count the additional rental income that you're getting up to seventy 684 00:48:44.800 --> 00:48:49.440 five percent of each unit, right to help you qualify for more money. 685 00:48:49.800 --> 00:48:52.199 Right, So that's where the difference between a single family or a multi family 686 00:48:52.440 --> 00:48:58.599 pre approval comes in. Then for fah there are limits, right, so 687 00:48:58.679 --> 00:49:01.320 how much you can finance, And in areas we don't really run into that 688 00:49:01.440 --> 00:49:08.000 issue a lot in the Tristate area because it's all high income or high high 689 00:49:08.039 --> 00:49:12.800 value areas, so those limits are pretty high, right, they're set at 690 00:49:12.800 --> 00:49:16.920 the maximum. But other areas you have those issues. Right at a client 691 00:49:16.960 --> 00:49:21.400 that was purchasing in Upstate New York. Right upstate in New York is not 692 00:49:21.519 --> 00:49:23.880 far technically it is right north of the Bronx, but like Pass plus just 693 00:49:24.079 --> 00:49:29.039 the pass halways, And the issue we constantly kept running into is because he 694 00:49:29.119 --> 00:49:32.440 was using fah A to purchase a single family home and the limit at that 695 00:49:32.480 --> 00:49:37.320 time was actually very low, and it was like three hundred and change thousand 696 00:49:37.400 --> 00:49:39.599 in that area, right, So he had to come up with the difference. 697 00:49:39.960 --> 00:49:44.639 Make sure the loan amount is below with that limit. Right. So 698 00:49:45.119 --> 00:49:47.920 these are things that most people don't know or they don't know if they qualify 699 00:49:49.000 --> 00:49:52.559 for. So that's why when they sit down and they send all their documents, 700 00:49:52.599 --> 00:49:54.719 we can get everything done for them. Then they can start shopping. 701 00:49:55.039 --> 00:50:00.519 If they see I talk to the clients that I preapproved. Sometimes it's multiple 702 00:50:00.559 --> 00:50:01.960 times a week. Right, they'll shoot me attacks, Hey, i'm looking. 703 00:50:01.960 --> 00:50:06.400 I just looked at this sounds I really liked it. Great. Here 704 00:50:06.440 --> 00:50:08.039 your numbers, This is what I want to offer X, Y, and 705 00:50:08.119 --> 00:50:14.119 z based off of whatever today's rates are. Here's what you know your payment 706 00:50:14.239 --> 00:50:16.760 is going to be approximately. It makes it so much easier for them to 707 00:50:17.000 --> 00:50:22.119 make that offer, right, because now I know I'm gonna pay three thousand 708 00:50:22.159 --> 00:50:23.880 dollars a month. Great, I'm comfortable with that. Fine, I can 709 00:50:23.920 --> 00:50:28.719 make this offer. I'm gonna pay forty five hundred dollars a month. Wait, 710 00:50:29.519 --> 00:50:30.960 maybe that's a little too high for me, even if I qualify for 711 00:50:31.079 --> 00:50:35.159 it. Right, So it just makes it makes it much more real for 712 00:50:35.280 --> 00:50:38.280 them. Right, It's not a daunting experience. We don't want to like. 713 00:50:38.599 --> 00:50:42.519 I try to make it as easy for everyone I even send them like 714 00:50:42.559 --> 00:50:44.519 a link. I'm like, hey, if you want to make it quicker 715 00:50:44.599 --> 00:50:46.960 and easier, you can answer these questions if you're more comfortable, right, 716 00:50:47.760 --> 00:50:51.559 But if not, get on the phone with me and I'll go through every 717 00:50:51.559 --> 00:50:55.360 single step that we need to do and then what they're actually you know, 718 00:50:55.599 --> 00:51:00.480 pre approved for, and then they can start shopping every they see that the 719 00:51:00.519 --> 00:51:01.639 house. You want to make an offer, we need to update the pre 720 00:51:01.679 --> 00:51:06.880 approval. We can do it so much easier because I have everything already set 721 00:51:06.960 --> 00:51:09.840 up from them. You need that listening agent to you know, sweeten the 722 00:51:09.880 --> 00:51:13.039 deal and say, hey, listen, this is what we've done for this 723 00:51:13.119 --> 00:51:17.639 client. There's so much more comfortable, you know, and they might consider 724 00:51:17.679 --> 00:51:22.800 that offer over somebody else's, mainly because they know you've done all your steps 725 00:51:22.840 --> 00:51:24.800 already. You know, they know you've checked, they know you're truly pre 726 00:51:24.880 --> 00:51:29.719 approved, right, and you can get into this house within the next two 727 00:51:29.760 --> 00:51:32.039 to four weeks. That's amazing, you know, like you're buying a whole 728 00:51:32.039 --> 00:51:37.119 house and it's gonna you know, it's gonna take two weeks. That's that 729 00:51:37.199 --> 00:51:42.400 wasn't the thing? Yeah, No, for sure, I mean definitely a 730 00:51:42.480 --> 00:51:45.280 mouthful of information. Um, I think it's really important for everybody to know 731 00:51:45.360 --> 00:51:49.159 what they're doing, if they're going to invest in real estate, why it's 732 00:51:49.199 --> 00:51:52.559 important to get pre approved, why it's important to get pre approved now, 733 00:51:52.880 --> 00:51:55.599 and what that process looks like. So that's everything that we talked about today 734 00:51:55.639 --> 00:52:00.719 for the most part. There's there's obviously, you know, other other things 735 00:52:00.719 --> 00:52:04.960 that go into making a purchase. And if there's any specific questions that anybody 736 00:52:05.000 --> 00:52:09.639 has, I myself, I'm a New Jersey realtor. I'm also licensed in 737 00:52:09.639 --> 00:52:14.079 New York and license in Texas. If there's any questions that anybody has about 738 00:52:14.079 --> 00:52:17.079 real estate, you know on that side, please let me know. And 739 00:52:17.119 --> 00:52:21.719 then, my friends, I want you to reintroduce yourself to everybody. I 740 00:52:21.760 --> 00:52:23.320 want them to know who you are. I want them to know where to 741 00:52:23.360 --> 00:52:27.239 find you, and I want them to know that they can come to you 742 00:52:27.280 --> 00:52:30.239 with any questions when it comes to getting pre approved. Yeah. Absolutely so. 743 00:52:30.440 --> 00:52:35.039 My full name is Zambiakai and I think they see it here, Yes, 744 00:52:36.000 --> 00:52:40.239 in the right direction. You can find me on Instagram. Like you 745 00:52:40.239 --> 00:52:45.280 said, I do post. I do post a lot of good informational content, 746 00:52:45.840 --> 00:52:50.519 or at least I try to. You can also call me directly three 747 00:52:50.559 --> 00:52:53.360 four seven four one seven four eight one six that's my cell phone, Shoot 748 00:52:53.400 --> 00:52:55.800 me a text, give me a call, whatever it's easier for you, 749 00:52:55.840 --> 00:53:00.360 and I'll be more than happy to go over every single you know option that 750 00:53:00.760 --> 00:53:05.119 you have. I am licensed in New York, New Jersey, Connecticut, 751 00:53:05.159 --> 00:53:08.599 PA, Texas, Florida, and I think a bunch of other states that 752 00:53:08.639 --> 00:53:10.960 I can't remember off the top of my head book for the majority of the 753 00:53:12.000 --> 00:53:15.559 part of those, that's that's where I'm I'm much more active, um or 754 00:53:15.559 --> 00:53:19.400 at least that's where a lot of my clients are. But um yeah, 755 00:53:19.760 --> 00:53:22.719 I feel free to reach out. Instagram works great too. I feel like 756 00:53:22.760 --> 00:53:27.480 I'm addicted to that school. If y'all have not checked out his Instagram, 757 00:53:27.519 --> 00:53:30.719 listen, I remember when you started like on Instagram, and oh my gosh, 758 00:53:30.760 --> 00:53:32.519 like the content that you that you post now is like so amazing, 759 00:53:32.760 --> 00:53:37.639 it's it's ready, thank you great. And that's the other side of your 760 00:53:37.639 --> 00:53:42.519 personality too, Like he's a he's a very fun guy. Like you have 761 00:53:42.599 --> 00:53:45.079 to you have to check out his Instagram so you could see all the useful 762 00:53:45.119 --> 00:53:49.639 information he posts and all the creative things that he comes up with. I 763 00:53:49.719 --> 00:53:52.400 think it's absolutely amazing what you're doing, UM, and I'm going to start 764 00:53:52.400 --> 00:53:57.119 for posting your content a lot more because it's very informational, it's funny, 765 00:53:57.159 --> 00:54:01.719 it's entertaining. I love it. It's so it's great. It's always great 766 00:54:01.760 --> 00:54:06.920 talking to you and you know, doing business with you. And I want 767 00:54:06.960 --> 00:54:10.400 everybody to have the same experience that we have had, you know, working 768 00:54:10.440 --> 00:54:14.840 together, So come on, everybody, work with us. Thank you so 769 00:54:14.920 --> 00:54:19.679 much for tuning in. We really appreciate you. We are live every month, 770 00:54:20.440 --> 00:54:25.079 typically the second week of the month, we go live and we bring 771 00:54:25.280 --> 00:54:31.880 really important topics to you about real estate and mortgage lending and what that process 772 00:54:31.960 --> 00:54:35.679 looks like. And we're always here to answer any questions that you have as 773 00:54:35.719 --> 00:54:38.679 well, So thank you for tuning in. UM. Make sure that you're 774 00:54:38.840 --> 00:54:42.840 following me on Instagram. As a matter of fact, I'm going to update 775 00:54:42.920 --> 00:54:49.000 my name here to my Instagram so everybody knows where to find me. Make 776 00:54:49.039 --> 00:54:54.199 sure you keep following my instagram for more information on when we'll be on next. 777 00:54:54.559 --> 00:54:59.559 And thank you everybody for tuning in. And no matter what you do, 778 00:55:00.000 --> 00:55:01.519 matter where you are, no matter where you go, just make sure 779 00:55:01.559 --> 00:56:02.239 you go where you can grow