Houston Inside Out

In today’s episode, we are talking about how your closing date will affect the closing cost. When would be the best time for you to lock in?Tune in now and understand how the final closing rate is affected by the date and know when is the best time for you! QUOTES“Bottom line is this: Everything is paid in arears.”MENTIONSwww.myhoustoninsideout.com SHOW NOTES[0:01:11.0] The day of the month affects the closing cost [0:01:36.0] Arears explained[0:03:08.0] Example of arears If you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In today’s episode, Casey Ingram, a personal trainer for 16 years and an independent real estate agent with Keller Williams, joins James J and they talk about having that mindset that you get from being in the fitness industry and how it relates to the real estate market.Join us and be inspired as we learn more about it! QUOTES“The objective is keeping them somewhat on the straight and narrow in order to get them to a certain point that they’d become more self-sufficient as time pass.”“In the real estate world, everything is take care of everything immediately. ”“It’s all about trust and it’s all about professionalism.”“I’m never going to seek out so much business and I’m overwhelmed then I become a bad agent.”“If you take great care of people, people will take great care of you.”“You reputation will ultimately determine how well you do.”“The average person we deal with nowadays deals with a lot of psychological stress with very little physical outlet.”“Exercise will regulate your pattern.”“The brain is not wired to push the body, the brain is wired to survive.”“Progress is hard, maintenance is simple.”MENTIONSKeller Williams RealtyCasey Ingram - Phone number: 713-302-9177Email: caseyingram@kw.comFacebook: https://www.facebook.com/casey.ingram.14?ref=br_rsSHOW NOTES[0:02:08.0] Casey Ingrams’ background[0:06:47.0] Why people still prefer to get help from someone[0:09:50.0] Similarity between the fitness industry and real estate[0:15:59.0] You want to know your area[0:17:25.0] Changes in the business as the interest rate went down[0:21:18.0] The confidence and discipline that’s built by working out[0:28:09.0] It’s all about having good relationships[0:32:10.0] Just like any industry, there’s a lot of work behind itIf you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In today’s episode, James will be talking about locking in your interest rate. Not as easy as it sounds but it is very important.Tune in now and get tips on how and when to do it!QUOTES“Offering an actual rate lock cost the lender money when that happens. ”“By committing funds to lend to you, the lender is unable to use it for anything else until your loan actually closes.”“Ultimately it is the buyer’s responsibility to lock in interest rate.”MENTIONSwww.myhoustoninsideout.com SHOW NOTES[0:01:15.0] What an “interest rate lock” is[0:01:50.0] How to lock it for a longer period of time[0:02:06.0] What happens to the fund when it’s locked in[0:02:59.0] Things could happen to stop the process[0:03:35.0] When should you lock in your mortgage rate?If you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

For today’s episode, we are going to talk about amortization period and which one is right for you. James is going to share how the actual mortgage payment is structured to help you understand key points to look into as you are deciding.Join us and give this episode a listen to know more about it! QUOTES“Every extra dollar that you are paying towards your mortgage will reduce the amount you’re paying interest and the remainder of the loan.”“Most loans don’t have prepayment penalties.”MENTIONSwww.myhoustoninsideout.com SHOW NOTES[0:01:45.0] Obvious difference between a 30-year and a 15-year financing[0:01:35.0] Amortization table - how the actual payments are broken down[0:03:39.0] 30-year and 15-year compared[0:05:36.0] There are ways to cut down the interest dramaticallyIf you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode today, we are talking about knowing why now might be the right time to look into upgrading your home. We will also understand how the market is affected by different factors.Tune in now and know more about it!QUOTES“The luxury home markets typically take longer to sell.”“As the inventory increases, the larger the difference of the list price to the sold price is.”MENTIONSwww.myhoustoninsideout.comSHOW NOTES[00:01:05] Lately, Interests rates have adjusted[00:02:00] Why this time is a great time to upgrade[00:05:20] What a buyer’s market actually means[00:06:50] Opportunity for upgrade is really availableIf you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Welcome to this episode where we are talking about interest rates. Learn some historical contents, some recent rates and know when to perfectly lock it in.So tune in, listen and learn!QUOTES“Rates obviously fluctuate.”“Interest rates play a big factor in your monthly payment.”MENTIONSmyhoustoninsideout.comPhone number: 832-271-1708, Houston Inside Out SHOW NOTES[00:01:53] Interest rates have gone down[00:02:38] The market is heating up[00:03:49] Historical perspective in mortgages[00:07:09] Recent history on rates[00:09:27] Interest rates fluctuateIf you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Welcome to this episode of Houston Inside Out where we are going to talk about “7 Things To Avoid After Applying for a Mortgage”. A lot of people have a misconception about what happens after being initially approved for the loan. Learn very important points especially when you are building a home or even when purchasing a home that is already done.Make sure to listen and know more about it!MENTIONSmyhoustoninsodeout.com SHOW NOTES[00:00:25] #1 - Don't change jobs or the way you're getting paid.[00:04:33] #2 - Don't deposit cash into you bank accounts.[00:06:09] #3 - Don't make any large purchases.[00:08:01] #4 - Don't co-sign for other people.[00:09:10] #5 - Don't change bank accounts.[00:10:00] #6 - Don't apply for new credit.[00:10:40] #7 - Don't close accounts.If you like this podcast, please do not forget to like, share, or comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

VA loans have a unique combination of features not found with other loan programs. Because a portion of each loan is guaranteed by the VA for the lenders, they can offer more favorable terms. Whether you’re buying your first home, needing more space for your growing family, or downsizing as an empty nester, the VA homebuying benefit can be used over and over. It’s possible to restore entitlement from a prior loan and use it again, making VA loans a benefit for life.So, what is this fee for military veterans? Listen to this episode as we give you some calculation to understand why there's a fee for VA.If you have more questions, reach out head over to myhoustoninsideout.com If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Credit restoration talk with Teresa and Randy Parasiliti from National Credit Federation. National Credit Federation, commonly referred to as NCF, is a nationwide, membership-based organization. Our mission is to help people who are currently in or have successfully come through a financial crisis, take back control of their finances and credit, allowing them to achieve their financial dreams. Call Randy and Teresa at 832-368-4311 or on the web at nationalcreditfederation.net/randy.Shownotes:(02:30) National Credit Federation(06:14) Credit Analysis With All Three Bureaus.(13:42) Credit Karma(21:34) Car Loan(32:06) Car FinancingIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Today we're talking about what happens at the closing of your home. During closing, ownership of a property is transferred from the seller to the buyer. The escrow company distributes all funds, and the new deed is registered in the buyer's name. The buyer also has to bring a check for all of the mortgage and title fees accumulated along the way.Quotes:"Try And Get This Stuff Done."Shownotes:(01:32) There Are Things That Arise As You're At The Actual Closing Table. (04:54) Get The Documents Ahead Of Time.(08:02) Company Will Give You The Check For Whatever You Paid Over. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Credit scores are calculated using the information on your credit reports, which includes details of your credit accounts, how often you apply for credit, debt collection accounts and some public records, among other things.Quote:"85% Of Americans Have A Credit Score That Will Enable Them To Get Into A Home. "Shownotes:(01:16) They don't educate us.(02:15) No more renting. (07:05) Order a credit report right now. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Moving to a new home can be intensely stressful and throw your life into chaos.So in this episode, we are going to share some things you need to avoid when moving. Stay tuned! :)Quote: "Moving Is The Ideal Time To Get Rid Of Things You No Longer Need. "Shownotes:(02:22) Scheduling Stuff(06:48) Skipping The PurgeIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

No more renting. If you want to make money slapping somebody in the face, you can make money by slapping your landlord in the face and go get your own home. That's how you make money. Stop making your landlord rich. Quote:"You Want To Be Proactive If You Are Looking At Getting Into A Home This Year."Shownotes:(00:45) We Are Getting Into Credit Scores. (02:13) No ore renting.(05:06) Max Credit Score.(07:35) Wrong Information On Credit Report Side.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low.If you plan on buying a home this spring, contact us, we can help prepare you for today’s market before rates increase!Quote: "Mortgage Rates Fell For The Third Consecutive Week"Shownotes: (00:57) Interest Rates. (02:27) Mortgage Rates Fell For The Third Consecutive Week.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

A lot of people don't know that they are eligible for a mortgage. So today, we are going to dive in specifically to millennials to talk about some of the misconceptions.Quote: "They've Got The Credit, All The Necessary Items And Necessary Criteria To Be Able To Own A Home. "Shownotes: (00:33) Millennial Talk.(01:51) Millennial Generation Is Growing Up In An Age Where They Can Make Money At A Much Earlier Age.(03:18) Estimated Number Five Million Millennials That Are Going To Turn 30 In The Next Two Years.(05:03)They've Got The Credit, All The Necessary Items And Necessary Criteria To Be Able To Own A Home.(07:45) Some People Don't Change When Things Change. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

A mortgage application can be complicated and requires several documents but as a minimum, you will need to provide some identification.There are a few things you need to have ready before you apply for a mortgage, and we are going to share those things with you in this episode, so stay tuned.Quote:There Is A Balance Between Giving Information And Giving Too Much Information.Shownotes: (01:05) You Could Get A Mortgage Without Having A Job. (04:01) Make Sure You Are Providing Enough Documentation. (05:51) Have At Least The Last Two Months Of Bank Statements. (08:13) Two Years Of Residency.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Right now we're at a great time to get a lower interest rate. You'll be able to make sure you're getting the most bang for your mortgage buck right and right now is an opportune time to do it. If you are looking at getting into one home in 2019, I think you are right on the money doing it now as we're entering the spring season and as we start getting hotter and hotter in the market in April and May and then really burning through the summer. This is a great time to get into a home and make the most and get the most for your mortgage.Show Notes:(00:22) Houston Inside Out show introduction.(01:21) It's time to buy a home now this 2019 because of low interest rates.(02:29) A Core Logic report states that prices will increases at a rate of 4.6 percent next. year. Home values will continue to appreciate as we move forward in 2019 and into 2020 and moving forward.(03:25) Interest rates are going to come up this year so you have to take advantage of your buying power right now.(04:22) If you're renting you're still paying mortgage either way. The only time you're not paying mortgage is if you're living with your parents(05:20) Renters have the opportunity to buy homes because of low interest rates. (06:19) Labor shortages, supplies and construction plays a big role in building and buying a home and that’s one of the reason prices go up.(07:17) We are here to help you with any questions on mortgage, home listing and many more just reach out and check out myhoustoninsideout.com. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

For both men and women, buying a home on your own by yourself requires more financial independence than does buy with the support of a partner. In this episode we are going to share the impact of buying a house with a woman.Quote:"A women purchasing homes at a greater flip than single men do."Shownotes:[00:37] Bloomberg Article.[02:08] Women Are More Responsible.[05:45] It's Going To Be A Little More Easier To Purchase When You've Got Another Person.[07:20] Homeownership Is Definitely Something You Want To Seek Out.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, we talk about an appraisal. An appraisal is an important part of the home buying process. Lenders require appraisals when buyers use their new homes as security for their mortgages. So stay tuned as we more about appraisals."You also have an income approach as far as the appraisal goes."If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Negotiation, the things that you can negotiate during the contract phase if you are a buyer and a seller. As a home seller, you want to close as soon as possible and as a seller, you want to get your households as quickly as possible.In this episode, we discussed the five most important things for negotiation. Stay Tuned :)Quote:"Once You Start Getting Into A Higher Price Point Maybe Not Necessarily The Case With Buyers Asking For Closing Costs."If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Maybe you’re tired of cleaning a large home every weekend. Maybe the cost of maintenance and upkeep on your current home is steadily rising. But perhaps you’re starting to think hard about why exactly you are living in a home as large as your current one.Here are the things you have to remember when downsizing your home.Stay Tuned :)Quote: "Decide What You're Going To Pack, What Are You Going To Take And What Are You Going To Leave"If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

When it comes to property investment, regardless of the type of property you are going to purchase, investing in real estate requires a good amount of cash. But perhaps more important are the pitfalls to avoid so you don’t become a statistic of the property game.To help you out, I’m going to share with you a basic things to consider when buying an investment property. Quote: "Do Your Research On The Property You Are Going To Invest In."If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, we have Steven Smith. He is the owner of a State Farm Insurance Agency in Katy, Texas. Steven has been in insurance of over 20 years straight out of college. Insurance is one of the things that a lot of people don't know a lot about. We all need to have it. It's one of the things that is often misunderstood. So today Steven Is going to explain to us what is really is insurance and how is this super important to everyone.Quote: "I don't have clients. I have friends." - SteveMentions: Steve Website: https://www.insurancesteve.com/Office Phone Number: (281) 347-8383Email: steve@insurancesteve.comShownotes: [01:26] Steve Farm Farming Background.[04:30] Food Insurance.[11:35] Insurance Policies.[13:38] What am I protecting?[17:46] What Is State Farm?[24:18] Where To Contact Steve.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action. Nick is an expert and you will want to take notes on this one!Contact Nick:https://www.nickkrempasky.comIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

What we need to know about the right pricing as it relates to your home and selling your home this year.You do not want to give buyers a perception that something is wrong with your house by pricing it high and then waiting too long to reduce your price. If you start off and price it right from the beginning, you're going to be a much better situation. It's really important that you find a marketing plan or realtor that has an actual market marketing plan.Quote: "You can price your home higher and you can bring it down."Time Notes:[01:12] You Don't Get A Second Shot On The Price Is Right. [02:35] You Can Price Your Home Higher And You Can Bring It Down.[03:25] Perception Is Reality. It Doesn't Matter What Your House Is. [04:11] Being As Aggressive With Pricing Your Home As We Were Before Is Probably Not The Best Strategy For 2019. [05:15] Over The Last Six Months, More Inventory Has Actually Come On The Market While The Months Of Supply Of Inventory Available Has Actually Dropped. [06:12] Owning A Home Is Much Better Than Renting.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, we decide whether it's good to buy a home right away or should we wait the next year. I recommend that you buy now because the interest rates are low hence you're going to pay less for the home that you want. If you wait next year there may be a tendency that the interest rates go up and you end up paying more and losing more money. So I emphasize that you buy now to get ahead and get your money's worth.Quote: "If you're thinking of buying a home the time is now."Timenotes:[00:41] Should You Buy Now Or Should You Wait Until Next Year?[01:58] One Year Rates Are Projected To Increase According To All The Experts.04:35] The Difference In Your Mortgage Payment From One Year To The Next.[05:15] Something to consider If you are on the fence about buying a home.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Lender credit and seller credit that is something to consider when buying your next home and your mortgage partner can help you with that. But it's always nice to have a relationship with the person that you're dealing with versus just dealing with somebody online.Quote:"Time is about to start heating up for buying and selling. "Shownotes:[02:28] If You're Putting Out 25% Or More You're Going To Be Able To Get A Little Bit More Contribution.[03:04] Take A Look At txmortgagemoney.com. There's Some Resources There And We Can Help You With Getting Through And Navigate In This Because A Lot Of This Stuff Is A Little Confusing.[03:23] The Higher The Contributions, The Higher The Down Payment.[04:28] Maybe It's A Good Opportunity To Negotiate A Little Bit More From A Seller As We Head Into Spring And Summer.[05:08] They Are In The Business Of Making Money.[6:01] The Lenders Need To Price Both The Rates And The Fees Appropriately.[07:00] The Higher The Interest Rates, That's The Lender Charges.[07:45] If It is Higher Interest Rate, It's A Little Bit More Appealing To Investors To Invest In A Mortgage Backed Security.[08:24] The Buyer Obviously Is Going To Want Something In Return.[10:13] We Can Help You, txmortgagemoney.com. If You've Got A Question About This, Reach Out To Us.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, we are talking about how to make your home appeal to as many buyers as possible. If you are thinking of selling your home, there are different things that you can do to make it more appealing. We are going to give you a few tips or some things that you can do to help prepare your home as you get ready to sell it. Quote:"First impression is everything"Shownotes:[01:33] Few Tips That You Can Do To Help Prepare Your Home [02:36] The Floating Vanities Is Something That's Pretty Prevalent Now. [03:36] It Doesn't Have To Be A Real High End Upgrade. [05:04] In The Bathroom.[06:06] Minor Things That You Can Do To Make A Major Difference In The Sale Of Your Home.[06:58] When It's Time To Resell, You Really Got To Remember First Impression Is Everything.[09:05] You Don't Have To Go Spend A Ton Of Money, But Something To Consider. [09:42] The Front Of Your Home.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

When does a more expensive home cost less?In episode, we talk about why purchasing a more expensive home in an urban neighbourhood could actually wind up costing you less than a home with a smaller price tag in the suburbs.Quote:"All things to consider in the cost of living from where you work versus where you live."Shownotes:[01:40] The Reason Why Does A More Expensive Home Cost Less?[03:26] You've Got Typically Two Cars That Are Going To Be Needed.[04:25] The Pros And Cons Of Urban Versus Suburban Living.[05:30] New York City Lifestyle.[06:40] Some of the condos in the city of Houston, are way more expensive than owning a home out in the suburbs.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, we have Hector Padilla, president and founder of HP Investments out in California.He shares about his business life. At a very young age, he started to realize that he did not want to do labor work which brought him into the business. He then created exponential growth and have now purchased over $90 million with the real estate. Quote: "At the age of four, I started washing dishes to get an allowance and I quickly learned that that was not a career I wanted" - Hector PadillaContact Hector:https://www.mychairman.net/Hector's Instagram Shownotes: [01:24] Hector's Life background[09:32] Residential[14:51] Close 149 Transactions[16:12] Goal Is To Net $1 million A Deal[19:42] Ideal Client[36:40] Mentorship[50:57] To Live Your Ideal LifestyleIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

The market is liquid the past couple of weeks, the question we've heard a lot is, will these dips continue to stay around? In this episode, we are going to answer your question about the interest rates. Shownotes: [01:32] Freddie Mac's Chief Economist, Sam Carter, notes that mortgage rates declining at the start of this year.[02:44] This would be a good time to get back into the game.[03:47] Maximize your buying power during this year. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

How can you get the most money for the sale of your home? Listen to this episode as we are sharing two things you can do to maximize the value of your home. Quote: "Real estate agents are everywhere. Everybody's has got a real estate agent but here's very few real estate professionals"Shownotes:[00:00:49] How can you get the most money for the sale of your home? [01:31] Every single homeowner wants to make sure they maximize their financial reward when they're selling their home.[02:45] You are competing with what everybody else is doing because everyone else is doing the same thing.[03:43] You price your home a little low.[04:43] You're going to find yourself relying only on the trickle of new buyers entering the market each day. [05:40] The second tip is to use a real estate professional.[06:39] Do they (Real Estate Professional)have a marketing plan? Is there's a strategy? Hope is not a strategy.[07:52] If you're a seller looking to sell your home this spring, reach out to us. If you just want some friendly advice, We'd be glad to offer that to you.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, we have Sola Okunoren also know as S.A. Sola. We talk about how to be a successful entrepreneur. Sola is a perfumer and former bank executive. He narrates how he became a successful entrepreneur. So please listen and enjoy our show."You only fail when you stop trying"Instagram: nostalgiacollectionFacebook: The Nostalgia Collection00:00 Show introduction 00:51 James Jay introduces his guest who is a perfumer.01:45 Starting back into Sola's journey from the banking days[02:34] Sola started trying to sell it our sales back in the day. [03:20] Sola states making great money, things are great, but then you hit that, you hit that was really, and that ceiling could be anything from the amount that you make yearly or it could be from a promotional standpoint.05:58 Sola states that you got to just burn the bridges.07:50 Same thing with business you've got to put it in perspective. 11:07 Sola emphasizes the importance of learning and learning is paramount in everything whether it be entrepreneurship, whether it be getting a job, you have to take you out to learn something from that situation.17:52 Sola also says that he learned that now it's all, everything's done in bulk, in huge quantities.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

What are the things to consider on when is the best time to sell your home? Quotes:"You know when the best time really to sell your home was when there was less competition, which right now there's not as much competition as you're going to experience if you wait until you get to the springtime."Shownotes: [00:04] The best time to sell your home is right now and I'm going to give you some reasons to really consider putting your home on the market now.[01:02] the market is going to slowly start heating up as we get closer and closer to the spring. And then, of course, a summertime, their fuel purchases in the market than there were last month.[01:57] Mark Fleming, who is the chief economist, said the biggest challenge is really the availability of supply[03:03] The National Association of Realtors is saying that the number of home sales has actually decreased over the last five months. So the best time to list your house might be right now.[03:59] So it may make sense if you're in a position to do it before everyone starts putting their home on the market in the springtimeIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

What you need to know about jumbo loans.Quotes:One thing to keep in mind about jumbo loans unlike traditional mortgages typically jumbo loans isn't sold. The bottom line is we're trying to get the loan amount under that $453,000 threshold as not to be in the jumbo loan criteria.Shownotes:00:38 Houston Home Talk show introduction.00:05 A jumbo loan is a specific product. As of January 1st of 2018, a jumbo loan was considered a mortgage loan of $453,100 or higher01:53 Pricing on non-jumbo loans is typically a little bit better, meaning the interest rates are a little bit lower typically.02:37 San Francisco, a lot of places out in California, the FHA agency has identified a lot of these high priced areas. These are places where. The costs of real estate are just through the roof. They make some exceptions with certain states and certain cities to where their loan limits are going to be a little bit higher03:12 We are in a state, in the state of Texas where real estate is relatively inexpensive as it compares to a lot of other major cities, which is why Houston, Austin, San Antonio, Dallas are typically always on the top 10 or so places to live for the cost of living04:21 The only thing that may matter is if they're servicing the loan, the lender could be a little more creative with their loan programs because they're servicing it. Typically with jumbo loans, they do not get sold off, typically.05:23 Depending on the loan amount and the terms that the jumbo loan lender is offering, it may also be wise for you to explore other options since jumbo rates are typically higher than those on traditional mortgages.06:32 Jumbo loans, oftentimes people have 20 percent. It's not necessarily a requirement to have 20 percent. But in any mortgage situations the more you put down the better. 07:20 Keep in mind that lenders of the first mortgage have to approve any subsequent mortgages.08:40 Keep in mind the lender of the first mortgage has to approve any subsequent mortgages that you as a buyer may want to take out because the risk of default for the first mortgage will be higher once the second is added09:05 It's super important guys that all the options be explored with your lender. If you've got a great lender, they will be able to break this down for you and see which way they can save you the most money.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

What you need to know about the difference between an annual percentage rate and interest rate Quotes:"Look at the overall loan. The interest rate is absolutely important. A lot of lenders will make it look much better than it is by having a lower rate if they know they're competing, but then you look at the annual percentage rate which most people do not pay attention to and they're charging a whole lot more fees to get the same type of loan."Show Notes:00:00 Houston Inside Out show introduction.00:20 We're going to clear up the difference between annual percentage rate versus interest rate. 01:34 ] It's required by law to put the annual percentage rate. We're going to focus specifically on a mortgage loan and how the annual percentage rate differs from an interest rate. All the costs that are associated with that loan are calculated into what is called the annual percentage rate., 02:40 The annual percentage rate, that is what separates lenders. It's what separates loan products03:45 A point is nothing but a percent. That's it. When you hear these terms, two points, three points, four, it's just a percentage of the loan amount.04:55 There's a fee involved with the closing that the lender and the title company charges. However, depending on the source of the money, you may have to pay some taxes as it relates to where that money is coming from.05:55 Just be sure that you're not just focusing on the interest rate as a lot of people tend to do.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

The things you need to know about lender points.Quotes:"As you consider your loan options, you really need to look at your long term ownership plan as well as your willingness to actually pay points and that will really help you determine the best strategies so you can consult with a mortgage professional on this and they can give you some scenarios to look at."Show Notes: [00:03] We're talking lender points. These are mortgage points. What are they in? Should you pay them?[01:01] Lenders make money on loans in basically two ways. One is via the interest rate they charge. The higher the interest rate, the more money that they make when they sell the loan after it closes which typically happens. The other way they make money is to charge fees. [02:44] It may be okay to pay some points when you start looking at the lower interest rate that you may get and the fact that you're going to be in that home for a longer period of time. Maybe if you're going to be short term in a residence, then paying a point may not be beneficial.[03:43] Ultimately it's up to you, but that is what the professional is for. It's to give you the advice that you need and then help you make the right decision for yourself.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

Things you need to be aware about when your mortgage closes.Quotes: "Ultimately the terms of your mortgage assuming you have a fixed rate mortgage your principal interest do not change."Show Notes: [00:06] Introduction to the Houston inside out show.[00:20] We are talking mortgages and specifically what happens to your mortgage after you close on your home.[01:30] Those lenders will actually continue to hold your loan and service your loan meaning they're going to continue to collect payment from you. But what commonly happens is that those loans get sold to an entity and they're going to bundle up several of these mortgages into what's called a mortgage-backed security.[02:20] The quality of these mortgages is extremely important to these investors so the quality will ensure that the mortgage-backed security retains their value. It is so important that the investors will have forensic audits completed on the mortgages that they purchase.[03:28] Lenders basically turn around and depending on the credit scores, they're going to assign that mortgage-backed security a grade. This is very important to investors because of the lower the grade, the higher the risk. Lenders do not want to buy back a loan.[04:39] It's a little more challenging to get a loan but it's ultimately to protect everybody involved. That is the buyer, that is the lender, that is the investor, very, very important that the quality of these mortgage-backed securities is much higher than it used to be.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode of Houston Inside Out we are going to discuss a couple of factors to watch in today's real estate market whether you are buying or selling a homeQuotes:"There are many factors that you should definitely consider, where you want to live, why you want to buy or sell, who is going to help you with your journey. Now, when it comes to today's market though, the two top factors for sure are interest rates and inventory."Show Notes:[00:35] Factors to consider in today's real estate market whether you are buying or selling a home,[01:33] Purchasing power is just simply the amount of home that you can afford to buy for the budget you have available to spend. Now as rates increase, again you're buying power will decrease.[02:38] According to the National Association of Realtors Listing Inventory is currently at about a 4.3 months supply, which has put upward pressure on a lot of the home prices, so home prices have increased year over year for the last 78 straight months[03:39] The inventory of homes for sale in the real estate market has been on a steady decline and experienced year over a year dropped for 36 straight months.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode of Houston Inside Out we discuss the importance of escrowing your taxes and your insurance.Quotes:"Overall I recommend people to pay the taxes and insurance monthly in the form of an escrow account.''Show Notes: [00:03] Introduction to Houston Home Talk.[00:37] The importance of escrowing your taxes and your insurance. He discusses that some people like to pay their taxes on their own and some use an escrow account to pay their taxes.[02:14] A deeper in discussing the benefits of having to pay taxes and insurance using an escrow account.[03:10] Explanation that there is less risk on the lender in a conventional loan if you decide to pay your taxes and insurance on escrow.[04:16] Explanation that lenders are all about risk. He discusses further the advantages of having an escrow account and the advantage of paying taxes and insurance on escrow.[05:19] What FHA loans are, what are the requirements and the variation between mortgage insurance and property insurance.[07:37] What a lender wants and do not want. He emphasizes to talk to a reputable lender so they can assist us with answering questions as it relates to waiving escrows, what the extra costs may be, and if there's a way for you to waive escrows without incurring any additional fees and the need to discuss it also with the lender. He also highly recommends paying tax and insurance monthly in the form of an escrow account. He also invites us to visit his website houstonhometalk.com for any concerns and questions about escrow.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

James Jay talks about option periods as it relates to a purchase agreement that is you purchasing a resale home. He goes in to explain the importance of having an option period. He also discusses the importance of hiring an inspector to go out to the property to do a full inspection of the property from top to bottom.Quotes:"Option periods are something that is negotiated between a buyer and a seller, but it is a very, very important clause in a residential contract."Show notes: [00:01] Introduction to Houston Home Talk.[00:35] James Jay introduces the topic of the show which is option periods. He discusses the importance of having option periods before buying a home. He discusses the importance of having a home inspected before buying a home or a property.[01:46] James Jay talks about hiring an inspector to inspect the property before purchasing. He also discusses the duration of an option period. [02:52] James Jay dives in deeper to talk about what an options money is and the amount and what its used for. [04:21] James Jay emphasizes that during that option period, you have the right to walk away for whatever reason you choose.[05:17] James Jay explains that we have to keep in mind that if you decide to walk away during the option period that we lose the option money. He also adds that it is okay to lose option money rather than getting into a complicated situation with the home. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

James Jay Discusses how the credit score is calculated and the three credit bureaus that maintain credit records. There are TransUnion, Equifax, and Experian. Any nonpayment is immediately reported to these bureaus and reflected in your credit report. He also explains that the longer the credit history, the better this reflects on your score. Quotes:"The credit score is based on a credit report which is a detailed account of our credit history of borrowing, repayment and credit inquiries. The bottom line is to keep your balance low and make your payment on time."Show notes:[00:00] James Jay introduces the topic which is how credit scores are calculated.[00:11] Introduction to Houston Home Talk.[00:48] James Jay talks about credit scores and how they are calculated. He continues to say that credit score is based off a credit report which is calculated through a detailed account of our credit history, of borrowing, repayment and credit inquiries[02:31] James Jay also mentions the three prominent credit bureaus which are TransUnion, Equifax, and Experian[03:04] James Jay explains that a credit score is calculated by a special type of software from Fair Isaac Corporation Company. He also explains the components of a credit score.[04:48] James Jay emphasizes the need for a credit score in buying a home and he explains how to look for alternative lines of credit.[06:15] James Jay discusses the types of credit and he discusses the range of the credit score and the credit scoring range.[07:16] James Jay emphasizes the importance of improving credit scores. He also emphasizes to make balances low and make the payments on time. He also invites the people listening to visit his website at myhoustoninsideout.com (new website).If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

James Jay talks about the difference between fixed rate mortgage and adjustable rate mortgage. The fixed rate mortgage and adjustable rate mortgage are both important depending upon the market and your financial expectations, each option will actually provide different benefits and drawbacks.Quotes"Choosing between fixed rate mortgage and adjustable rate mortgage of loans just depends on your individual situation and the interest rate that's going on at that time."Show Notes[00:03] Introduction of fixed rate mortgage and adjustable rate mortgage.[00:15] Show Introduction.[00:49] James Jay explains the benefits of using adjustable mortgage rates up until 2008 when fixed rate mortgage have higher rates. He advices that if you know you're only going to be somewhere short term. You are typically rewarded with a smaller interest rate and that is really the major benefit of having an adjustable rate mortgage.[02:30] James Jay now explains the benefits of using fixed rate mortgage. He further discusses that fixed rate mortgages are controlled mortgages and easy to maintain and administer because of a lot of these factors. These are definitely the most popular loan types for first time home purchases as well as second or third or fourth time purchases for that matter.[03:53] James Jay compares and contrasts fixed rate mortgage and adjustable rate mortgage. He goes on to say that adjustable mortgages are generally cheaper and result in savings when rates do fall. He also adds that fixed mortgages come with higher rates.[05:13] James Jay goes in deeper to discuss fixed rate mortgage. He emphasizes to the importance of being prepared when it comes time to refinance. James Jay also advises to pay attention to where you are with your mortgage, whether it be three years, five years or longer, and know what your plan is to either refinance it and pay that one off or sell the home or be okay with what the rate adjusts to[06:07] James Jay concludes by emphasizing the importance of choosing between fixed rate mortgage and adjustable rate mortgage. He also emphasizes that it just depends on your individual situation and the interest rate that's going on at that time. And that it is important to reach out to a lender or to contact James Jay to make a sound and informed decision. So if you have any questions you can visit his website at myhoustoninsideout.comIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

James Jay talks about the importance of a home inspector and the benefits of hiring a home inspector. James explains what a home inspector does and the advantages of hiring a home inspector like a detailed examination of all the major systems of a property. This includes plumbing, electrical, heating, cooling systems, as well as the structural integrity of a property, radon gas, mold, termite detection.Quotes:"A home inspector is trained specifically to go through a home and detect all kinds of issues that you and your realtor are not qualified to do."Show notes[00:36] James Jay introduces the topic, the importance of hiring a home inspector.[01:20] James Jay discusses what a home inspector does and what a home inspector look for at a home they inspect.[02:29] James Jay explains that the home inspector looks at the property in greater detail and effectively educates you on the condition of your home which is important in buying a home. And emphasize that the purchase contract has conditions in which certain properties and situations where you can back out of an agreement. He also explains that in some cases you don't have an option period where you can just back off for whatever reason you choose.[03:58] James Jay talks about significant issues after the option period and that the buyer is still obligated to purchase the property. He also emphasizes that home inspection is very, very important.[05:10] James Jay advised that seller may be unaware or unwilling to share details regarding the condition of the home, so if an inspection uncovers a significant issue within the option period the buyer can renegotiate or you can walk away.[06:05] James Jay concludes by emphasizing the importance of a home inspector and that it gives the buyer peace of mind in buying home. He also invites people to visit his website at myhoustoninsideout.comIf you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

James Jay talks about getting into credit and how to maintain credit after we are approved of a loan. He tells us not to make unnecessary purchases while a loan is still in the pre-approved stage, for example, buying furniture because this might jeopardize our credit score which would also jeopardize the loan approval process.QUOTES:" Be very, very careful once you are initially approved for a loan. Do not make any new purchases."Show notes:[00:39] How to maintain credibility when a loan is approved and not to make unnecessary or new purchases.[02:19] Always maintain a low debt to income ratio for a loan to be approved immediately and not buying furniture for a home which is not yet loan approved.[03:51] It is important to maintain a high credit score and to wait for the approval of the loan before buying or making unnecessary purchases to avoid any problems.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

James talks about projections for the city of Houston for 2019 relocating to Houston and relocating from Houston. He also talks about the population and unemployment rates and the rent and income in Houston as well as fortune 26 to fortune 500 companies. He also talks about the medical care and hospitals and the top of the line cancer care center in Houston. Lastly he talks about oil and gas which could improve in 2019.QUOTES"Our economy is still very, very strong and something that we should be proud of and moving into 2019 definitely going to be something that's going to continue to thrive and we will continue to improve in every area."SHOW NOTES[00:39] City of Houston, relocating to Houston and relocating from Houston.[01:48] Home prices in Houston, household income and population in Houston.[03:04] Monthly rent of Houston compared to monthly rent in other states such as New York, Washington, Boston, San Francisco, Seattle, Minneapolis, and Miami. And the Fortune 500 companies headquartered in Houston namely Conoco, Phillips, marathon oil, Cisco, Apache, Halliburton.[04:34] The Medical Center in Houston gets heart surgeries and top of the line cancer care center in Houston. Oil and gas business is rather low in Houston right now. If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode, James is going to share with us the top five reason why houses do not sell in a strong market. So don't miss this episode and let's find out his deep insights about it.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

The winter time is a time of year where a lot of people are confused as to whether they should take their home off the market way to the spring. In this episode, James is going to share four reasons to keep selling this winter. So don't miss this episode and let's find out his deep insights about it.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode of the Houston Inside Out, Ursula Krause talks about her journey from a fitness trainer to a business coach. She graduated high school at an early age and have no idea what she wanted to do in life. She started going to the gym with her dad and fell in love with working out. She became a fitness trainer and ended up working at a bigger fitness company and started her journey to become a business coach.Quotes:"You really making stories up in your head and it's most of the time it's just because if we think that people are going to judge us in a negative way, and if you really think about that, it's like you're literally allowing people that aren't really in your life affect your decisions and your future. "Mentions:Ursula Krause FacebookUrsula Krause instagramSHOW NOTES:[00:02:19] - Ursula Krause high school life[00:03:48] - Ursula Krause started fitness training[00:05:37] - Ursula started reading books about sales.[00:11:14] - Inspirational message about confidence[00:14:40] - Ursula talks about her coaching business[00:28:57] -Make your life better[00:33:37] - Get in touch with Ursula Krause!If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode of the Houston Home Talk, James explains what you need to know and what the differences between a home warranty and home insurance. Shownotes:[00:55] What Is Home Insurance?[04:09] What Does Home Warranty Cover?[08:16] If you have questions, reach out to us.Full Transcript:[00:02] INTRO: Welcome to Houston Home Talk featuring all things real state in the Houston area. We'll interview real estate professionals, local business owners and special guests from right here in the Houston community. This is where you get the inside scoop about what's new in real estate, new community openings and business openings and much more. The Houston home talk show starts right now.[00:37] JAMES: Welcome guys. Welcome. What's up? It's James Jay. Welcome to another episode of Houston home talk and today, we're going to talk a little bit about home warranties. Now, this oftentimes gets confused for some people for home insurance, so these are completely, completely different coverages. They do different things and quite honestly, you need both. You need home insurance and you need home warranties for your home or your investment property. I'm going to go a little bit into discussing hallmark warranties. What you need to know. Again, what the difference is between a home warranty and home insurance. Let's just get right into it. Home warranty, typically this is something that you're going to get when you're purchasing a specialty, a resale home, okay? You definitely want to have it when you're purchasing a resale home. It's something that is completely negotiable. It is not something that a seller has to give you or offer you.It is something that you and your agent asked for as part of the negotiations, but it's not something that's mandatory that a seller pay. When you're looking at purchasing a home where they'd be resale or even new construction, new construction's homes are typically you're going to come with a warranty typically a year. There might be a builder to that habit for two years. Most of the builders are going to offer you a one year warranty that's almost like a bumper to bumper warranty for your home. If anything happens in the home during the year or two years, whatever the case may be, the home builder will come out and fix the issues. Now once that warranty is done with as far as the builder warranty goes, then you're going to want to have your own home warranty moving forward because you'd never know what's going to happen that is why you have a home warranty. It's just like car insurance, right? You have car insurance, you may drive two years, three years, four years, never have a car accident. Well, when you do, if hits you or someone rear ends you, you're going to be very happy that you had car insurance. Well, the home warranty operates in the same way. Home warranties are pretty much designed to protect your homes, appliances and systems from breakdowns caused by normal wear and tear. Whereas homeowner's insurance pays for damages and loss caused by perils like fire, weather damage but it won't help you if your washing machine simply breaks down. Or if it's July and August and your ac unit breaks down. All right, home insurance is not going to do a thing for you, but a home warranty would definitely cover items like that. What does a home warranty actually cover? Other than your AC unit and some of the other major appliances, water heater is covered. That's one of those major items in your home you want to have covered. Then those options for you to add additional coverages so you could cover a dishwasher. You could cover refrigerators. You can cover garage door openers, septic systems. There're a lot of other optional coverages that you can have with the home warranty, but it's not something that comes typically with their basic coverage. These are basically like upgrades more or less for your home warranty. Depending on what you're looking at purchasing, it may be something that you definitely want to consider. What happens on a home warranty? You have an issue, you have an item breakdown. Let's use the AC unit because for me, that is probably the biggest appliance. Excuse me, not appliance, but more a system in your home and the most expensive to have to replace. Now I'm speaking from personal experience on this because I've had an AC unit go out on me in the middle of summer. I couldn't fix it. The home warranty carb company could not fix it and they replaced it. Now there are some additional fees that come along with replacing the AC unit and depending on your warranty company, they will run those by you. It is much, much less than you have it to go and replace an AC unit for your home. Basically, what happens is this. You have an issue. You AC unit goes out. You call the home warranty company to come out and take a look at the issue. You pay what they call a trade fee. Depending on which plan you pick, depending on which home warranty company you're using, it may be a trey call, which might be $75. It might be $60. It could be $100. It just depends on the company. You pay them a fee to come out and assess what the issue is. If they can't fix it, they will replace it. Now again, there may be some additional fees that come along with fixing certain items and AC unit in particular because there are some fees that come along with disposing of an AC unit that you actually have to pay. Again, much, much better than you having to go and replace an entire AC unit, which could cost you thousands of dollars. Home warranty, you requested, they typically come out within a few days and again, if they can't fix it, they will replace the item. One thing to keep in mind, if you have an issue with an AC unit right now and you'd hear this and you say, 'You know what? I'm going to call a home warranty company right now.' Typically, these home warranty companies are going to have a period of usually 30 days, that's from 30 days from the time you initiate having that home warranty. They're going to have what they call basically a waiting period. That means you can't claim anything within that 30 day window because they don't want you to call them knowing that you have an AC unit that's not working just to get them to come out and fix it. It's almost like a preexisting condition for life insurance. That's exactly how this works. Yu can't get life insurance with a preexisting condition in most cases. There's some, sure, there's some coverages out there that will allow you to have a policy with the preexisting condition, but they're going to charge you for it. With the home warranty, same thing. You cannot make claims typically during that first 30 days after you get the home warranty because they do not want people taking advantage of the whole warranty. In a nutshell, definitely something you want to have guys. It is one of those things. You kind of get it, you forget about it. These range…the coverages are going to range anywhere from 350 to 450 for the most part. There are going to be some coverages where you can get where their 500 and up. Again, do your research. If you have questions about home warranties, reach out to us. We'd be glad to help you and make sure that when you get a home, whether it'd be a rental property that you're getting, or personal resonance that you're getting, or new construction, you want to get a home warranty. You're going to have a little more leeway with new construction because typically, again, the builders going to have that warranty. As soon as that build a warranty ends, you want to get yourself a home warranty. If you don't, you'll regret it. I promise you will regret it. Again, guys, you got questions, let me know. Would love to help you guys with any questions you may have about home warranties. I will talk with you guys on the next episode.If you like this episode of the Houston Inside Out podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.

In this episode of the Houston Home Talk, Mike Wall of Love Ohio Living and James talk about the detailed roadmap for changing business over to EXP, consistency, and branding.Quotes : " If we do get somebody to say yes, then we got a shot at a six-figure income."" You'll get what you want if you can help other people get what they want. "Mentions:Website: http://loveohioliving.comShownotes: 1:04: Response from other people to the interviews2:07 Mike started real state business04:45 Mike talking about consistency08:45 - Mike talks about branding 19:24 - Team Structure 20: 48 - Mike's favorite books and podcasts.Full Transcript:[00:03] INTRO: Welcome to Houston home talk featuring all things real estate in the Houston area. We'll interview real estate professionals, local business owners, and special guests from right here in the Houston community. This is where you get the inside scoop about what's new in real estate, new community openings and business openings and much more. The Houston Home Talk Show starts right now.[00:32] JAMES: All right guys welcome. What's up? This is James J. Welcome to Houston Home Talk. I am excited today to have my man Mike Wall from Dayton, Ohio. What's up Mike? How are you today?[00:43] MIKE: Yes sir. Baby, I'm so happy to be here, man. I'm so happy to help. We'll be able to drop some value on your audience today, brother.[00:50] JAMES: Yeah. Listen, I have been watching you now for several months as you have been doing a lot of interviews with a lot of the new people that have been moving over to EXP Realty. I want to say thank you because a lot of the content that you've been providing, I know I've used, I forwarded it to people and I know that the value that you're providing is helpful to a lot of people. You and I met in New Orleans last month. I've been watching you for several months. As soon as we met, there was several people that came up to you and said, hey, thanks Mike. I know you're reaching people. [01:21] MIKE: Yeah.[01:22] JAMES: You're helping people because a lot of people can't do what you're doing in the way that you do it so thank you for that. I wanted to ask you so I want to just start, so you've been doing a lot of these interviews, a lot of Facebook Live interviews. I want to get people introduced you. I want to ask you real quick, what's been the response from other people to the interviews that you've been doing with the new people that have joining EXP?[01:42] MIKE: Yeah. No, it's a great question man. It's really been overwhelming more than I even thought and really the whole reason if I back up and just telling you the reason why I started doing the podcast… [01:52] JAMES: Right.[01:53] MIKE:…is because I knew that we were building something special. I also knew that changes is big. Change is big for everybody involved and especially the for those people who are team leaders in running a business. I wanted to give those people a platform to be able to share their unique story with the world and in hopes that somebody out there might identify with them and be able to make an intelligent decision about where their business went and then also providing a detailed roadmap for change if they decided to move their business over to EXP. Then also kind of lastly is just to provide insight on people curious about learning more about EXP.[02:34] JAMES: Right? Yeah. Let's get to know a little bit about you because I know you have been in the business. You've been licensed for about 16 years or so. You started full time…was it 2014 when you were officially started full time? [02:45] MIKE: I did it. I got a unique story. I've had my license since 2002. I actually got into the business just as a buyer specialist for one of the top agents here in our marketplace. A guy named Phil Herman who worked for Remax is a big deal man. The guy was selling like 300 properties back like when nobody knew about teams. When I got into the business I just thought, man, I don't want to try to learn all this on my own. What I'll do is I'll take a little bit less of a commission split to go under somebody who actually has all the knowledge for what I want to do, right? I worked with Phil 2002 to 2009 and we all know what happened in 2008-2009. The market just completely crashed.I actually got out of real estate. I kept my license but I went to work back in corporate America and I did that for five years. I was working for a company that was based out of Blue Ash, which is a suburb of Cincinnati and I was selling copiers, man. It is a grind doing that. I did that for five years. I knew I wouldn't do that long term and I knew I would get into real estate. [03:43] JAMES: Right. [03:44] MIKE: In 2013 in about October, I started calling the expires in 2013. In 2014 May I had 44 listings and I went to my wife and I said, honey, it's costing me more to be at my corporate job than it is to be here in real estate. She said, you know what? She said, do your thing man. That first year went out and sold 57 houses. Second year in the business, sold 104 houses, third year sold 187 houses and then fourth year I sold 309 houses. I just haven't looked back, man. There's so much obviously that goes in between there because now you know, I'm operating as a team. I've got some great team members. I got a great business partner now. We've opened up a whole world with investing and so forth.[04:30] JAMES: Now let me touch on this because it seems pretty simple. One of the things that I love about you is the consistency. I know you've been doing a lot of live coaching calls. Obviously you've been doing this for several years, calling the expires. [04:41] MIKE: Yup.[04:43] JAMES: One of the things that I tell a lot of new agents is what you think, because everybody just assumes everybody's calling the expires. I've heard you mentioned this in the video, a lot of people will stop calling after the fourth time or even a third time in a lot of cases. Obviously you were consistent. What made you focus on the expires? Because as a new agent, that's one of the things that I always tell people to do. Focus on expires. You can get that information and just keep consistent, stay consistent with it. What made you start? What was the thing that kind of got you to focus on the expires when you first started?[05:17] MIKE: Yeah. No man. That's a legitimate question because if you think about it, I mean everybody's good at something, right? Everybody can always make up the excuse that I'm not good at something and typically it's because they either don't have the experience or they're just not willing to try. For me, when I moved here, I went to high school and was raised mostly in to Dallas, Fort Worth area. I moved to Ohio and went to college at Ohio State. Go Bucks. I met my wife there and my wife was from this small town, which is a Northern Cincinnati, Southern Dayton suburb called Springboro. I didn't have a personal network. I didn't have a lot of people that I could tap into. I just thought, well, what is the next best thing? I knew I could grind it out on the phones because I had done in B to B sales selling copiers, right?[06:03] JAMES: Right. [06:05] MIKE: There's no science behind it, man. I just did it. You talked about consistency and that's, that's really what it was. It's just doing it. It's repetitions in the gym, right? It's like every day you show up. You put in your reps. You work hard, and then the magic starts to happen, man.[06:20] JAMES: Right. Yeah. That consistency thing is very difficult, especially for us because there's no one to tell us to do anything.[06:27] MIKE: Right.[06:29] JAMES: Everyone wants to get in the business, but then lacking the discipline to do what you did for three years and still continue to do to this day with the Expires. It's something tells you is you have a schedule and you got to work. It's hard to do. It is hard because stuff comes up. It's hard to stay consistent. If you really want to make it and you're a prime example, everybody that's calling these Expires, they're not doing it consistently. They just don't. I know it. In Houston, it's the same thing. We've got 30,000 agents here. We've got a lot of expires but of that 30,000 there's only a handful of people that are actually consistent with it. As a matter of fact you knew that and you stuck with it and clearly it works.[07:09] MIKE: I want your audience to understand something too James is that the great thing about calling the Expires is not everyone's is going to say yes, right? We are fortunate enough to work in an industry where the margins, if you do get a yes, are very large, and I always tell my team this, right? We live in a market in southwest Ohio here where the average price point is not really high, right? Our team average sale price is $178,000. Our market. Average sale price is $130,000 but you can still make a six figure income here if you just get one yes, every week because our agents average commission check is 25.50 and if you take 25.50 and divide that out over 50 weeks, you've got a nice income, right?[07:48] JAMES: Absolutely, yeah.[07:50] MIKE: Really we just focus…we have our team focus on that one yes per week, right? We understand when we pick up the phone that the odds are against us, right? We understand that most people are not going to answer the phone and if they answer, most people are not going to set an appointment. We understand also that if we do get somebody to answer it, if we do get somebody to say yes, then we got a shot at a six figure income.[08:10] JAMES: Absolutely. Yeah, and you know there's a couple of books I've got but the go for no is one. Darren Hardy, I love Darren Hardy. December is going to be here tomorrow and I bring this up because his book talks about the format. There's this habit, habit, habit, habit and what he used to do when he was in real estate back in the day, he would just look for no's. The more no's you get, you're just closer to that yes. At some point somebody is going to say yes and I'm a huge Darren…the compound effect. That's what that's saying in the book, compound effect. I love that book. Usually we'll bring it up every single year around this time of year and I go through it and I'll operates during the year because it's a great book about the discipline of habits. In this business. it is key to everything is self-discipline to be able to, to continue to do that. Props to you on that. Now I wanted to ask you, so I heard in the interview that you had mentioned that you had back when you started full time back '04, 2014-2015. I guess a couple of years into it. You switch from the wall group over to love Ohio living, LOL team.[09:05] MIKE: I did. I did.[09:07] JAMES: Explain why did you did that? I think I know the answer. I wanted my audience to understand why did you do that? Why did you think that was important to get your name off the brand and brand it to level high live in which you did.[09:18] MIKE: Yeah. No, that's a great question. There's arguments for both sides.For me personally, I thought it was more sustainable to build a business that didn't have my name on it. I didn't think people would sustainably work to build my business. I thought that together, if we formed something that we could all believe in and all row the same direction, that didn't have my name on it. In another words, it's like a football team, right? If you think of the Dallas cowboys, right? Who did beat the Saints last night which…[09:50] JAMES: Yes, they did. Yeah.[09:51] MIKE: if you think of the Dallas Cowboys, they're not called the Jerry Jones, right? They're called the Dallas Cowboys. Jerry Jones owns the cowboys, but everybody has their respective position for the Dallas cowboys. When they come together, they make a team, right? I wanted to do is I wanted to take the level how living team and I wanted to galvanize everybody around that.What that stood for was elite level agents being able to plug their businesses in to our tool systems and resources to go out and sell as many houses as they want. Not, they plugged into Mike Wall and just took every, all my leftovers, right? Because there is a team model that works that way and I just don't believe it's sustainable. The statistics show, I mean, the shelf life on those type of a team, the shelf life of the agent is much lower, right? Because what happens is they come in, in most cases and they build them up and then those agents, they want to go do the same thing whereas now we have an agent on our team. It's like Natalie Rose, right? Is an agent on our team? It's Natalie Rose with the level higher living team at a power broker by EXP Realty, right? Her name goes on the sign. We just have our LOL logo. Frankly, it's not that I would ever sell my business, but if you think of it like this, James who's going to buy Mike Wall real estate without Mike Wall.[11:09] JAMES: Yeah. [11:10] MIKE: You know what I mean? [11:11] JAMES: Now you're, you're right on. That's a key when we talk about marketing branding because I f struggled with that as well earlier and having my name. I agree with you completely. I think the buy in from your team is much more when you have LOL Level Higher Living. I love that you did that. That's a key. That's a nugget for people to really look at that because like you say there's arguments both ways. I'm actually on board with you as far as the branding and not having your name attached to it for the long term, long term that's a great idea. Good information there. Let me ask you, so from all the interviews that you've been doing with a lot of the EXP Agents that have been mourning, it's been absolutely crazy the growth that we've had. You joined back, was it February of this year is when you guys moved over? [11:55] MIKE: Yes sir, it'd be a year. [11:58] JAMES: Montel Williams, you moved over. What's been the best or the most surprising thing, specifically from the people that you have interviewed? Because I don't know if you've got to off the top of your head how many people you've interviewed since you started the show.[12:10] MIKE: Probably around 20, 25 at this point.[12:13] JAMES: Okay. Okay. What's been maybe one of the biggest surprises or maybe common similarities? Because everybody's story's a little different. I probably have watched virtually every video interview that you've done. Everybody's story just a little bit different. What have you found that maybe something that's maybe been similar from a lot of the people that you've spoken to? [12:30] MIKE: Yeah. I have them. Something instantly pops to mind and because it really not only has it surprised me that this is what I've learned from them. It is something that we never expected when we came over. I'm learning now when I talked to people in those interviews is that it's the same thing for them, right? What I'm learning is that the community. It's the community that we've created. It's the people that now we're able to tap into, right? Because like Jay Kinder and Mike Reese, the NEA group, right? They used to run this mastermind that was like a $25,000 buy in, right? Now they're doing that mastermind for free. [13:09] JAMES: Yeah. [13:10] MIKE: Right? We're talking about Kinder was the number one, number two guy for COA banker in the world at one time, right? He's one of the smartest guys in real estate. When you're able to plug in to those guys like I could shoot him a text right now and get a response from him, right? The same thing with Kyle Whistle, the same thing with Dan Beer. I mean we're talking about some of the biggest real estate teams and smartest real estate minds in the business.For me that was the biggest surprise man, is the fact that now we've created this fantastic community of learning and sharing and just growth and excitement, man. That's an easy answer for me. [13:50] JAMES: Yeah, you and I, we've got a lot of similar circles as far as NEA. I've been with NEA probably since 2011. Actually, back then it was just Kinder-Reese. I've been following Jay for years. He's one of the nicest guys you'll ever meet. Yes, I also coached with them him well. You're right. When now you've gotten to exponential growth summit back in the day. [14:06] MIKE: I never did go to that believe it or not. Yeah, I never went.[14:12] JAMES: Okay.[14:13] MIKE: I coached with NEA. I didn't exponential growth. [14:17] JAMES: Right. The funny thing now is that with EXP, with all these big name ages moving over, and you're right, the community and the collaboration. I know we keep using these words over. It's true. When you're in it and you and I were here where we both are at EXPN. We've been able to see it. The fact that you're right that I could call Jay right now. I've paid thousands and thousands of dollars to Jay to coach me. Now that same information, I could still get it and get access to him with literally just picking up the phone right now. That's been one of the biggest, pleasant things that I've seen as well. For a lot of people that are not, or maybe looking at the opportunity right now other than the collaboration, what else is maybe been one of the things that's been a plus for you? [15:03] MIKE: What I want to add to that real quick is that I don't want people to take that for granted because a lot of people I think represent EXP the wrong way. You're trying to get people, you're calling people that you don't know and you're trying to get them to move for revenue share or stock. That's not enough to get people to move. It's like you need to figure out what if we understand at the end of the day, right? That map is more valuable than the treasure. Then you understand that that knowledge that you can get through collaboration, that's where the treasure is, right?That's the map to the treasure. To be able to collaborate with those guys in a mastermind group. These guys are doing stuff at a level that we just haven't thought of or haven't gotten to in our businesses yet. For that person out there who's doing $10 million or $20 million a year that wants to get to 20 million or 40 million or a 100 million, right. The difference between them, where they're at right now and where they want to be is that roadmap, right? When you join EXP, you're able to tap into that right away, right, through the collaboration and relationships that you'll build here. I wanted to make sure that your audience was crystal clear on that because although revenue share is fantastic and the opportunity to be an owner through stock is fantastic. It's not the only reason you should join EXP, right?[16:28] JAMES: Yeah. No question about it. Yeah. I think the excitement around it is just because it hasn't been done this way before. [16:33] MIKE: Yeah. [16:37] JAMES: You start looking at the opportunity down the road. I could not agree with you more, Mike. That component of EXP has gotten a lot of publicity. I think as far as representing EXP, a lot of people would probably get a little turned off because everybody's talking about the revenue shift. You are right. That's not really for me the number one reason. It is the fact that you get to collaborate. You and I would not be talking right now. We aren't talking right now if it wasn’t for EXP. I wouldn't be able to call collar or anybody for that matter. It's genuine. When we went to the EXP con last month it's genuine. People are just really willing to help you with whatever because it does benefit us all when we all succeed. Where it used to be you have freinemies and you interviewed with Tammy yesterday?[17:25] MIKE: Tammy was day before. You're talking about Mary Simons Malone. I love them so much. Yes, she was frienemies with Kyle Whistle, right? They worked at competing brokerages in San Diego. She talked about that too with the collaboration now with Dan and Kyle who were formerly her biggest competition, right?[17:44] JAMES: Yeah, Yeah. Huge, huge, huge, huge. That's awesome. Couple more questions for you Mike, before I let you get on out of here. Again, you said the response from people because I saw people coming up to you and we're at the EXP last month which is pretty cool. As we were in the middle of talking,[17:59] MIKE: Let me one more thing James before because I know you asked me and I'll try not to be too long winded here. I want to make sure that people understand the value of what the model at EXP has to offer no matter where you're at in your business because you asked also what was another thing that I had learned or what was another reason that we moved and what we learned through our move, and I'm hearing back from obviously a lot of these team leaders in our interviews is the fact that I had a decision to make personally when I moved. We were opening up our own market center. We had approval through KWRI. We were opening. In fact, that market center has now opened without me. Right? [18:34] JAMES: Okay. [18:35] MIKE: Some other person or group came in and took my place. I was supposed to be an owner at that market center and EXP was put into my lap, right? We had a decision to make right away and that decision was, do I move forward with my plans with Keller Williams to open this market center, right? Or do I move my team to EXP? I'll tell you what it came down to. It came down to what was better for my team, right? Ultimately the reason why EXP want one out is because the move to Keller Williams would have been a lateral move. Actually it would have been a worst move for them because the CAP was going up at the new office. It would have only been a win for me, right? I could have been an owner at that office and that would have been great, right? Our Ego loves that, right? I'm an owner. Ultimately if I knew I wanted it to be successful through my team. That's what I want and ultimately to be able to provide them the best platform for success, right? I knew that I had to make the decision to move to EXP because now I can offer them things that I never could before. That is through revenue share and that is through who stocks, right? Now, they can become owners. They have a vested interest after three years. They have two exceptional wealth building tools that they never had access to before.[19:46] JAMES: Absolutely, yeah. That same message as I go around talking with agents in my market, same message. My team is definitely not structured because your team structure right now is, consists of what? How is your team set up right now?[19:57] MIKE: We serve two markets. We serve Dayton-Ohio market and also the Cincinnati-Ohio market. [20:02] JAMES: Okay. [20:03] MIKE: We have 25 agents. We also have a listing manager and a contract manager and then an office manager as well. [20:10] JAMES: Right. [20:11] MIKE: I have Director of operations/ co-owner and a guy named Jump Welski.[20:16] JAMES: Yeah. You've got a pretty big a machine going up there and a lot of people being affected by your decision, all tweets and make that move over to the EXP, which is not something to be taken lightly by any means. I've spoken to a lot of other agents. I don't know. I've watched a lot of your interviews with people. It's a tough decision because it's not just you that you're affecting here. It's a ton of people that are affected by your decision, good or bad one way or the other. I don't think there's really any downside to EXP. I'm going to be a little biased, but the other revenue models or other revenue streams that we have available is great. The fact that we can collaborate with people all over the country at this point and soon it'd be international, 2019-2020 which is a pretty exciting where the company's. I compare what we're doing now with EXP and how Glenn has set this up and the fact that you are not going to have a conversation. You and I could talk to each day. Three quick questions I want to ask you. First question is what are you reading right now? I know you're always seeking knowledge. I know. Are you reading anything right now that…[21:20] MIKE: Let me make it up for you man. I'll tell you right now. I usually have a couple of different books going on. I do love to read and I do love to listen to podcasts. I'm listening to… this is not a business book but its called sleep smart. I don't do fitness coaching, but I have a fitness coach too. He sends me books. I'm also listening to the Perfect Day Formula and that's by Craig Valentine. I'm listening to it another book called The Swerve. That's a good book. It's funny man, because if you do a lot of reading or if you listen to podcasts, you always get ideas about books from other people, right? It seems like one book leads to another write. One book mentions another and then you pop that in audible and you read that. I think one really good nugget and you and your audience should write this down if you haven't heard it already is listen to that recent, the most recent Maxout podcast with Ed Mylett, where he talks to you. UOP baseball team. That is so good, man. It is so powerful. I've shared that with my entire team. I listened to it probably every other morning because it just so resonates with me, especially as you transitioned into 2019. If you need something to get you up and light a fire under your butt and it is great, great material, man. [22:26] JAMES: Yeah, I have my last. He's awesome. He is awesome. That's the beauty of a podcast is or an audio book for that matter just to be able to listen to it at any point of your day, at any time. It really doesn't matter where you're at nowadays. You can just pop that in and listen to us. I have not heard that one. I will make sure that I listened to it. I'm actually post the links so people can get just click where and go right into it. [22:46] MIKE: Awesome. [22:47] JAMES: I'm an avid, avid reader as well. There's always something that I pick up. The knowledge that it's that compound effect. One compounds on top of you, the next thing. Another last, last two questions here. What's your favorite quote? Favorite quote.[23:02] MIKE: Man, that's a good one. I think it's probably changed throughout time. I think my favorite quote is probably really cliché at this point, but it just so resonates with me is the old Zig Ziglar quote is that "you'll get what you want. If you can help enough other people get what they want." That has not always been true for me. I've grown in my business, I've learned that my success will ultimately be a product of the success that I help others have.[23:28] JAMES: Yeah, no, that's awesome. Zig Ziglar Fan, goodness gracious as well. I one that was one of my favorite of course. The other one is then you're going to be a meaningful specific or a wandering generality. It's huge and especially for realtors because most realtors are not meaningful specifics.[23:45] MIKE: Right. Right. We know that.[23:46] JAMES: Great, great quote there. The last thing I want to ask you, so what's something that you want to do in 2019 that you've never done before? Whether it be business related obviously EXP is an explosion in growth mode right now. What's something that maybe you've got want to do a 2019 that you've never done before?[24:04] MIKE: That question comes at a really opportune time for me because we're actually in the middle of opening up our own mortgage company, the P and L model. I'm actually really excited to play around with that a little bit. I think there's a huge opportunity, not only to add more money to the bottom line but to also provide a level of service that most of the real estate agents can't provide because this is going to be set ups just so especially at first just so this person is servicing our team.[24:29] JAMES: That's great. I've had a sin as a, as a loan officer. There's no better mortgage advisor like yourself because you are on that side and you speak to what your clients are really wanting and really be able to direct if it's going to be your mortgage company or whoever you're working or partnering with on the mortgage side to really provide a really, really good value for people because I know you've experienced it. I've experienced it with a mortgage companies that it amazes me that some of these mortgage companies exist or lenders should I say. I've had people just completely disappear during the process. This is amazing to me. It's amazing. That's a great opportunity and I think with your background there's no way that you would not be successful with that or anything else that you do. [25:19] MIKE: Thank you sir.[25:20] JAMES: That'd be great. Again, I am a huge fan. I admire everything you've been doing. You're one of those people when you meet him, you just like of like literally I met you. We shook hands on. My God, I just liked this guy. [25:29] MIKE: Likewise my man, likewise.[25:34] JAMES: I've got to get up to and actually one more thing we got to talk about real quick, the most important thing will Ohio State be in the playoffs or not.[25:42] MIKE: Man, at this point, does it even matter? It's whoever's going to play Bama and lose, right?[25:45] JAMES: Right. Right. That’s true. [25:50] MIKE: I love my Buck guys I'm also a realist man. [25:52] JAMES: Yeah, absolutely. Yeah, it's got to be quiet if you you say well. Anyway, when I appreciate your time, Mike. Thank you so much man. Thank you. Thank you. Keep doing what you're doing. I will continue to promote you as much as I can. If there's anything I can help you with, let me know and appreciate your time, man. You have a great one and we'll catch up. [26:07] MIKE: Likewise and if anybody's interested in that free coaching that you mentioned they could go to liverealestatecoaching.com and sign up there. I'd be happy to take on anybody for 30 to 40 minutes and just really dive deep into any area of your business you're looking to improve. [26:24] JAMES: I will post the link on the podcast. Actually let me put it on here so people can get that link and access what you're offering there. Yeah, can't go wrong. Free strategy call with Mike, reach out to them. He's an awesome agent, great example a lot of consistency and professionalism. I really appreciate what you do on Mike, We'll catch up soon brother. You take care.[26:43] MIKE: All right man. Thanks so much, James. I appreciate it. [26:46] JAMES: Okay. All right, bye-bye.[26:47] MIKE: Good luck.If you like this episode of the Houston Home Talk podcast, please don't forget to like, share, and comment! We appreciate your support and feedback! See acast.com/privacy for privacy and opt-out information.