Women's Wisdom Network (967)
“Financial independence is the ability to live from the income of your own personal resources.” Jim Rohn It’s a secure feeling, owning your own home with an affordable payment so you and your family can enjoy living life together. It’s a feeling of satisfaction knowing that as the value on your home goes up, and the balance on the mortgage gradually gets paid down, you are building wealth for yourself and those you love. 1. Know your comfort level for a payment and down payment. Experts on podcasts and financial posts suggest keeping your total house payment under 33% of your gross income. They recommend keeping your total house payment and payments on other debt no more than 43% of your gross income. Keep enough savings in the emergency fund to get your family through an emergency. Don’t rely on the mortgage loan officer to tell you what…
It’s the middle of August, which means you have 90 days to get in front of everything you are going to close and get paid for this year. Silly as that sounds; it is the reality. We really need to get ready for the sprint to the wire that is the next 90 days and we can start with knowing where we are. By now you know what is going to close in August, or pretty close to it. You also have a good idea of what September is going to look like. This will get you ¾ of the way to your annual numbers. It also sets the parameters of what you need to do to get to where you want to go the rest of this year. Key questions: • Are you tracking ahead or behind your business plan?• Are you off your blend of loans purchase/refinance?• Are…
Kathleen Lappe, “Katie”, entered the real estate industry as an entrepreneur eager to solve a problem. She quickly identified an opening in the publishing industry, Katie created and founded a magazine dedicated to real estate. Her idea bloomed into the largest publishing house for Kentucky and Northern Tennessee real estate and auctions. Home Market Magazine was successfully acquired in 2018. As digital search revolutionized the housing industry Katie realized the same could be done in the auction arena, and AuctionLook took form. AuctionLook is a nationwide auction aggregator and data portal for auctioneers, many of whom are REALTORSⓇ. More than half of AuctionLook’s inventory are real estate opportunities. AuctionLook has over 4B dollars in real estate published and more than 6,000 REALTORSⓇ/Auctioneers have engaged on the platform. AuctionLook manages 25 state auction associations, with more slated for 2020 launch. As her knowledge and strategic real estate insight grew she founded…
“The higher the climb, the better the view.” Bacotkeren.blogspot.com Dayo Dekker began buying rental homes close to streets where houses were being revitalized and renovated. He did not buy on the same street where revitalization was actively taking place, but he bought ahead of the path where the revitalization was headed so he could still buy at a low enough price to get a good profit from his tenants, and yet he could see his values pop up quickly as more and more other investors started buying around him and fixing up houses. Dayo positioned himself with a rooftop view of his local real estate market and bought ahead of the curve for a quicker return on income and value. Rent vs. Buy Decision If you are a renter in Memphis, TN, rents have gone up 13.5% year over year. That means if you were paying $1,000/month in 2020, you…
First week of August and we get the July jobs report on Friday. Not likely to be a great number, but the FED has dismissed all the jobs misses so it shouldn’t be a surprise, unless the FED sees something new. I do think the inflation report next week is also likely to be a terrible number, but once again, the FED will just dismiss it with its new favorite word, “transitory” and keep right on ignoring the inflation we all see. Housing is another issue, prices continue to rise across the country and in many areas, it’s more than double digit increases year over year. While activity has slowed down a little in some areas, volume of both home sales and demand remains strong. Fueling much of that is the insane rise in rents. Last month we saw a 2% increase in rents, leading to more than a 10%…
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Ralph Waldo Emerson-“The desire of gold is not for gold. It is for the means of freedom and benefit.” Samir and Sabba had finally found a home that would give them some rest from the busy city and the noise. They had been visiting with a builder who called them to let them know that he had a ready-made house that had everything on their wish list. The first buyer was supposed to close in the next two and a half weeks but had backed out due to a family emergency. So if Samir and Sabba wanted the house, they would need to buy it right away, or the builder would have to take the next offer. How could Samir and Sabba close in two and a half weeks on the new home if they could not sell the old one yet? They would need to use a large…
So many times, people will ask me why some people are far more productive than others? Why some people are more organized than others? How is it that some people get far more done in less time than others? Well, to me the answer is largely that people who do more, are much more likely to be more scheduled in their actions and activities than those who aren’t. I learned early in my career from a well-established loan officer that you can spend all your time trying to remember what you were supposed to be doing next, or you could spend your time doing the things you needed to do. It’s a choice. Back then, we didn’t have CRM’s to auto populate tasks and activities into our schedule for us, but we could use a planner to schedule WHEN we had to look at or review something or when we…
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