July 12, 2022 • 17 mins
Maja shares why right now is the best time to buy a home. She tips and suggestions for finding the house you want and the importance of ownership.
Host IG:@itstanyatime
Guest IG: @majasly
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Episode Transcript
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Speaker 1 (00:00):
Hey, money Movers, Welcome back to Money Moves, the daily podcast,
determined to give you the case to the Kingdom of
financial stability, wealth and abundance. Maya So good to have
you back today, and I'm so excited again to dive
(00:22):
into real estate moves with you today. But we have
to get to it because this market is booming. This
market is moving bam, and I don't want any of
our audience to miss out on some of the offerings
and tips that you have. First of all, this is
my question. Is right now a good time to buy?
There's never been a better time to get in this
market never. Rights are so low. Money is almost free.
(00:45):
Money is almost free. Have you ever been able to
give someone two dollars right and they only have to
give you two dollars and two cent back? That sounds
good to me. That's that's that's that's what that looks like.
So put that on hundreds of thousands, and that's what
it is. The money is almost free, Oh many is
(01:06):
almost free. If you have a seven hundred credit score,
you're getting a rate it like two point seven five
percent on a thirty year fixed Okay, So this do
you guys understand what she's saying, we're asking, you know,
a lot of people don't have hundreds of thousands of
dollars to pop into an acid, even if it is
an incredible asset, and it's a great market. So the
(01:27):
interest rates are low right now, and so this is
a great time to buy into the market. So let's
back out for people who have never done it before.
So they're like, okay, you know, interest rates are low,
everyone's telling me to buy property. Prices are rising, rising, rising,
I'm gonna do it. So let's say you're again student
or a teacher. What do they do first? Well, if
(01:48):
you're a student or a teacher and you're getting ready
to graduate, you know you can qualify on your offer letter,
the job offer letter that you have, you can qualify
for a hundred percent loan. A hundred percent loan with
a lot of these banks because they have an initiative
that they said they were going to do, what try
to make it right with black people, not minorities, black people.
(02:11):
They have a billion dollar commitment, so hold them to
the carpet. A lot of the big banks give you
a forgivable grant at closing, so you only have to
come with a couple of thousand dollars, and if you
are in these bidding wars over and over and over again,
I would say, go find a house that's almost a
tear down and do a Fanny May or Freddie Matt
(02:33):
two oh three k A two or three k. You
can do a complete rento on that house, so it's
a brand new house for you and you can vet
every single sub yourself. I want to pause you that
because I want to make sure like I love having
these conversations as if I'm like a twelve year old
who's never done it. Do you guys know what Fanny
May is? Please explain that because I hope you guys
(02:54):
are taking notes because I want you to leave here
armed with all the information to be successful. So all
of our loans are acts by Most loans are backed
by the federal government. So Fanni man Freddie Mac back
the loans. So there, that's why we have regulations. They
can't just be in the wild wild West anymore. So
these loans are backed by them. They will buy back
the paper if the loan were to go that and
(03:17):
they regulate the way that mortgage companies operate to keep
people from being discriminated against being redlined all of these things.
Or you can also use this information to your advantage.
If you go on Fannie may dot com map tool,
you're gonna look for the Census track map tool. You
can see where you can buy if your income is
(03:39):
this on the street. It could be across the street,
you can't get it, but right here if you put
in this address, if it qualifies, that means there's all
sorts of things that have opened up for you. And
this is this is where the opportunity lies. This is
where the sweet spot is, like understanding how to navigate
the system. And this is why we have people like
Maya on the podcast so that we can get access
(04:00):
to those tools that are going to help us get
to the next level. Yeah, they don't. They don't have
billboards out they're not saying oh, they have it out there,
and they're like, oh, the money goes unused every single year.
So every time I have a MIC, I tell them
there's money with us d A, there's money with Hood,
there's money with the Development Authority, there's money with Invested Lane,
and there's money with Albany. Albany, Georgia, like every state,
(04:23):
every city has some money that they it comes down
from the federal government and the city's disperse it. So
your development authority is where you can get those moneys.
But if you want to get in this market and
you've had a difficult time and you just keep getting
you know, in these bidding worre situations, then you've already
wasted a lot of time. So what difference does it
(04:45):
make if it takes more time? So if you close
on the house for a two or three K, if
it takes seven months for the house to be renovated,
they roll all of that in and you're not paying
a mortgage until you get a CEO for the house.
You guys understand that a certificate of our compensa helps
you cover those costs. Help building, renovating absolutely and you
can work hand in hand every How many d I
(05:06):
y and home improvement shows do they have on HDTV? Yeah,
you can just literally bench watch every single day. You
can go to home depot and take your own class
to figure out how to lay your floors. So if
the contractor is going to charge you ten tho dollars
for hardwood, order the hardwood yourself from Flora to Core.
Hire some contractors to come and put it down. You
(05:28):
can get those costs under control. But most of us
don't want a heavy lift. Well, in this market, you're
gonna have to have If you don't have a lot
of cash, you're gonna have to have some sweat equity
in this game. And this is real spot. This is
real spot. And this is where I'm saying, like you
guys all know that expression. If it were easy, everybody
would do it everybody. And it's not easy, but this
is how you get ahead. And sometimes you gotta literally
dust off your heels, take those libs off, girls, take
(05:51):
those lobs off, and put you on a baseball cap
and figure it out. We're too smart for that. And
I just will not allow us to keep saying, oh,
they driving the prices up. I'm not going to give
them to over price. I'm going to find someone in
that neighborhood who's ready to sell their house. I'm going
to door knock. I'm going to You can do those,
(06:12):
and you have to be an agent. You can do those,
and you don't have to be an agent door knocking.
Talk about door knocking, because that's really interesting. And I
think in this market right now, we're saying again there's
just no inventory of houses. People are door knocking? What
does that mean? So door knocking means that you knock
on every door in a neighborhood and ask them are
the interested in selling their home? So I don't advise this.
(06:33):
For some areas you may want to bring somebody with you,
but I mean it does work. You have we're having
a real good You have people who don't know who
to call. They may want to sell their house, but
they don't know a real estate agent. The average seventy
two year old lady who lives in Vuying City, who
has lived there for fifty years, the neighborhood change, what
(06:55):
maya two. It's what's really interesting is, of course, like
this we're talking to people of color here. We're not
advising that you walk around every neighborhood and knock on
the door, right, we know we don't want you bound
and gag with a dirty tubeck down your throat. Girl. However,
I have gotten a lot of just colors halls. How
many calls you get a day? I mean I feel
like now it's a little bit different because we don't
(07:16):
all have home phones. Yeah, but they find you, they
find you, or I just get a little pretty picture,
postcards or text or a text. So there's lots of
ways to do it. You know, you can do mailers.
You can find a zip code. You can send out
postcard saying are you interested in selling your house? Like
the Squeaky Wheel gets what is it? Yeah? Yeah, well
squeaky Wheel gets the grease. Yeah, Squeaky Will gets to Greece.
(07:38):
But um, if you keep knocking enough, you might get
a hundred knows. But that one yes could be a
hundred thousand dollars in equity, because some people truly care
about who buys their house. They have memories, they're they're
not trying to sell to the highest bidder. They want
someone who actually wants to make this a home. And
you would be surprised how many offers I have taken
(08:00):
When I've kept to look at five offers and it's
an investor versus a family who wants to buy for
the school system, I will choose the family first. Yeah.
That's actually a friend of mine who was just buying
a house and they had to specifically they were relocating
to Atlanta. They needed to be in a specific area
to get into a specific school. And they actually won
the multiple bids on this woman's home because she had
(08:22):
grown up there with her family. All her kids went
to school in that little district, and she really wanted
a black family in that house to have her their
kids carrier have the same opportunity. And I couldn't believe it.
And they actually got a very decent price on it
because they went in and she was there for every showing.
Because people are passionate about their homes, you would be surprised, like, um,
(08:44):
a home is one of the most emotional home purchases
that most people make. And as a realtor, you know,
I try to be the voice of reason and tell
them to keep the emotions out of it when it
comes to certain things like she didn't like my wallpaper.
She doesn't have to like your wallpaper, honey, you know
what I mean. So, yeah, people don't realize that. You know,
(09:05):
people record things, and you're saying that you need god
awful things about someone's home. That's their home, that's their taste,
so you're insulting them. But door knocking is a way
that you can really like shake the trees. I call
it tree shaking. That's where you find the money. Let's
shake these trees and door knocking will put you in
front of a person who when they get ready to sell, there's, oh,
I met this really nice lady. That's how I get
(09:26):
if I want to take over a neighborhood. If I
sell a home in one day, most of those people
don't have an agent that they've used. They're going to
call from my sign and say, hey, it looks like
they got this. I'd like to go ahead and sell
mine too. Right now, we're in a transition period. People
have been in the house for you know, almost two years,
and some of them want to move back closer to
(09:48):
family and smaller areas and that sort of thing. So
if you live in a yeah, or the beach, So
if you live in a bigger city, door knocking is
really where you get it because if people have lived
there for you know, thirty years, they're ready to go.
They're ready to go, yes, exactly, especially and if there's
and so I hate to say and sound morbid, but
(10:10):
watch the obituary. Yeah, you'll watch the obituary. Yeah, So
I can pull up demographics for any area, right, and
you know, there's certain parts of Buckhead that is third
we're getting schooled today this but but this is anyone
can do this. Anyone can do this a wholesaler. This
is how they find their properties. So if they pull
(10:32):
up the demographics for a neighborhood and they know that
the average age is over fifty five, that's the average
ages over fifty five, then what are those individuals getting
ready to do? Retire? I look at the year the
house was built, so neighborhood that the homes were built,
the entire subdivision was built between nineteen eighty and nineteen nine.
(10:54):
That means that most of them need a new roof
or no, not a new roof. They were in the
ups and downs of a market. So some of them
who didn't because I can pull from the tax markets
and I can see if they refinance their house. So
if they didn't refinance their house, that means that if
they bought it in nine in Stone Mountain at and
(11:20):
now that house and Stone Mountain is four fifty. But
in their mind, yeah, they're not online every day. They don't.
They're not. They couldn't conceive a home being worth double.
They couldn't conceive it. So somebody renovated for fifty five,
but I'm gonna buy yours as is. If I offered
(11:40):
you three hundred as is no inspections. Big deal. Yeah,
as there's no inspections because I'm going into it. Most
people don't know this. With the two or three K,
the appraisal, you have a ten percent cushion. So even
if the house doesn't appraise, you have ten percent because
they know there's renovations that have to go into it.
So it's to your advantage to do a two or
(12:02):
three K loan because now all of those things that
you want to change in the house, all those cosmetic
things you can do included in the loan, and what
you're going to have to put down. Give them that
as earnest money. Give them that as earnest money so
that they know it may take me a little bit longer.
But I'm going to give you ten tho dollars in
earnest money because I've already been fully underwritten before we
(12:23):
started this process. So you can feel comfortable. Okay, My
I feel like this is just blowing my mind here,
and I think people are listening to Sorry, know, what's
who is it? So as someone who's trying to get
into the industry, right you're talking two or three K
or talking all these things, who is supposed to guide
me to this? Isn't my real estate agent? Is it
my broker? Is it? Is it? What? And how do
(12:44):
I find the best person to lead me along this journey?
Because I'm confused, I'm scared now and they don't want
fear in any of our purchases. We only want abundance. Well,
m YouTube University is going to be your best bet.
Your average agent has no idea what to do outside
of right the contract and the offer. The average agent,
the average agent doesn't close enough transactions to have this
(13:06):
type of experience. So you want an agent who won
is not just a good negotiator on contracts, but understands
the market, understands programs. You know, I'm different beasts in
that way. Is because I sell two first time homebuyers
and I sell luxury homes. But my sweet spot is
the middle because that's where I started in the business,
(13:28):
was first time homebuyers. So I know that buyer, I
know their pain points, I know what their challenges are.
I know the amount of student loan debt they have
is really a challenge for them. So we're gonna find
a solution for them. So I will tell you the
best place you can go or podcasts like yours. And
so when you hear these terms, write them down and
then go online. Yeah yeah, take your take your notes.
(13:50):
I mean, I can't tell you I have a three
deals going on right now in other states because of
information that I learned on a podcast for areas that
I have friends that live there that wouldn't each those areas.
I went there found forty four lots. Forty four lots
because I have investors who only want to build a
hold and hold them for ten years, so they don't
(14:10):
care how bad the area is. They're gonna go switch,
change the whole blot like that. So they don't care
how bad the area is, because in ten years there
everything changes. They've got to change their mindset. Like, Okay,
this investment, I'm going to hold it, and I love
it so much. And I hope you guys are taking
all these tips and tricks down because this is real.
This is how we really get ahead. This is really
(14:31):
how we do our own research. D I O R
to get aheaded industries where we previously have not had
a major steak, but we are now putting down our flags,
We're putting down our stakes, and I'm so happy to
have you got here, you here with us today, MAYA,
thank you so much. You're welcome. So the internet is
their best friend for the good and the bad information
and somewhere you'll find the truth. But when you know
(14:54):
what ye're a property was built, it will tell you
a lot about the neighborhood. You can pull it up
and see who lives there, their age, Like literally, if
you google that address is going to tell you who
lives there, how old they are, how many people live
in that house, everything, everything, So you have all the
information you need, all the information you need to go
(15:16):
door knock because if a home a neighborhood was built
in the seventies or eighties, and that home is paid off,
and you'll be able to see if the mark if
they tell a mortgage, that's amazing informations. It's all public.
So my I think everyone's going to be out their
door knocking and doing their own research. Love it. We're easy,
everyone would do it, but it's not. But that's why
we're here to make some really great money moves. Can
(15:36):
you please tell everyone in our audience where they can
find you on social media so that they can keep
in touch with you and figure out more of your
gems that you do so gratefully share with us. I
love following you. Oh thank you. So it's maya slide,
it's m A j A s l y and that's
on all social media platforms. I'm not on Twitter that much,
but think we're gonna start tweeting a whole lot um. Yeah,
think I'm gonna start tweeting because I really get tired
(15:58):
of people telling people false information and they're not a
licensed professional. You're not a licensed professional, so you don't
have access, like you can find all this data online,
but you can't go write the contract yourself. You can't
go start tweeting for us. So I'm gonna put some
gems out there so that you know, people will understand
that none of this is scary, none of its rocket science.
(16:20):
I didn't ask you to go build a bomb. I
said build a house, build a house, Build a house
or maybe a multi level house, whatever, Build something, build
build uh an a U D build a du build
and pull, build a house in the back of someone's yard.
That's interesting. Oh yeah, oh yeah, alright, money movers. That's
all the time we have for today. But make sure
(16:41):
to follow Mile on all of her social media handles
and please encourage her to tweet. Thank you so much
for tuning in Money Moves audience. If you want more
or a recap of this episode, please go to the
bank Greenwood dot com and check out the Money Moves
podcast blog. Money Moves is an I heart Radio podcast
(17:04):
powered by Greenwood Executive produced by Sunwise Media, Inc. For
more podcast on I heart Radio, visit the i heart
Radio app, Apple Podcasts, or wherever you get your podcasts from.
Hey, money Movers, Welcome back to Money Moves, the daily podcast,
determined to give you the case to the Kingdom of
financial stability, wealth and abundance. Maya So good to have
you back today, and I'm so excited again to dive
(00:22):
into real estate moves with you today. But we have
to get to it because this market is booming. This
market is moving bam, and I don't want any of
our audience to miss out on some of the offerings
and tips that you have. First of all, this is
my question. Is right now a good time to buy?
There's never been a better time to get in this
market never. Rights are so low. Money is almost free.
(00:45):
Money is almost free. Have you ever been able to
give someone two dollars right and they only have to
give you two dollars and two cent back? That sounds
good to me. That's that's that's that's what that looks like.
So put that on hundreds of thousands, and that's what
it is. The money is almost free, Oh many is
(01:06):
almost free. If you have a seven hundred credit score,
you're getting a rate it like two point seven five
percent on a thirty year fixed Okay, So this do
you guys understand what she's saying, we're asking, you know,
a lot of people don't have hundreds of thousands of
dollars to pop into an acid, even if it is
an incredible asset, and it's a great market. So the
(01:27):
interest rates are low right now, and so this is
a great time to buy into the market. So let's
back out for people who have never done it before.
So they're like, okay, you know, interest rates are low,
everyone's telling me to buy property. Prices are rising, rising, rising,
I'm gonna do it. So let's say you're again student
or a teacher. What do they do first? Well, if
(01:48):
you're a student or a teacher and you're getting ready
to graduate, you know you can qualify on your offer letter,
the job offer letter that you have, you can qualify
for a hundred percent loan. A hundred percent loan with
a lot of these banks because they have an initiative
that they said they were going to do, what try
to make it right with black people, not minorities, black people.
(02:11):
They have a billion dollar commitment, so hold them to
the carpet. A lot of the big banks give you
a forgivable grant at closing, so you only have to
come with a couple of thousand dollars, and if you
are in these bidding wars over and over and over again,
I would say, go find a house that's almost a
tear down and do a Fanny May or Freddie Matt
(02:33):
two oh three k A two or three k. You
can do a complete rento on that house, so it's
a brand new house for you and you can vet
every single sub yourself. I want to pause you that
because I want to make sure like I love having
these conversations as if I'm like a twelve year old
who's never done it. Do you guys know what Fanny
May is? Please explain that because I hope you guys
(02:54):
are taking notes because I want you to leave here
armed with all the information to be successful. So all
of our loans are acts by Most loans are backed
by the federal government. So Fanni man Freddie Mac back
the loans. So there, that's why we have regulations. They
can't just be in the wild wild West anymore. So
these loans are backed by them. They will buy back
the paper if the loan were to go that and
(03:17):
they regulate the way that mortgage companies operate to keep
people from being discriminated against being redlined all of these things.
Or you can also use this information to your advantage.
If you go on Fannie may dot com map tool,
you're gonna look for the Census track map tool. You
can see where you can buy if your income is
(03:39):
this on the street. It could be across the street,
you can't get it, but right here if you put
in this address, if it qualifies, that means there's all
sorts of things that have opened up for you. And
this is this is where the opportunity lies. This is
where the sweet spot is, like understanding how to navigate
the system. And this is why we have people like
Maya on the podcast so that we can get access
(04:00):
to those tools that are going to help us get
to the next level. Yeah, they don't. They don't have
billboards out they're not saying oh, they have it out there,
and they're like, oh, the money goes unused every single year.
So every time I have a MIC, I tell them
there's money with us d A, there's money with Hood,
there's money with the Development Authority, there's money with Invested Lane,
and there's money with Albany. Albany, Georgia, like every state,
(04:23):
every city has some money that they it comes down
from the federal government and the city's disperse it. So
your development authority is where you can get those moneys.
But if you want to get in this market and
you've had a difficult time and you just keep getting
you know, in these bidding worre situations, then you've already
wasted a lot of time. So what difference does it
(04:45):
make if it takes more time? So if you close
on the house for a two or three K, if
it takes seven months for the house to be renovated,
they roll all of that in and you're not paying
a mortgage until you get a CEO for the house.
You guys understand that a certificate of our compensa helps
you cover those costs. Help building, renovating absolutely and you
can work hand in hand every How many d I
(05:06):
y and home improvement shows do they have on HDTV? Yeah,
you can just literally bench watch every single day. You
can go to home depot and take your own class
to figure out how to lay your floors. So if
the contractor is going to charge you ten tho dollars
for hardwood, order the hardwood yourself from Flora to Core.
Hire some contractors to come and put it down. You
(05:28):
can get those costs under control. But most of us
don't want a heavy lift. Well, in this market, you're
gonna have to have If you don't have a lot
of cash, you're gonna have to have some sweat equity
in this game. And this is real spot. This is
real spot. And this is where I'm saying, like you
guys all know that expression. If it were easy, everybody
would do it everybody. And it's not easy, but this
is how you get ahead. And sometimes you gotta literally
dust off your heels, take those libs off, girls, take
(05:51):
those lobs off, and put you on a baseball cap
and figure it out. We're too smart for that. And
I just will not allow us to keep saying, oh,
they driving the prices up. I'm not going to give
them to over price. I'm going to find someone in
that neighborhood who's ready to sell their house. I'm going
to door knock. I'm going to You can do those,
(06:12):
and you have to be an agent. You can do those,
and you don't have to be an agent door knocking.
Talk about door knocking, because that's really interesting. And I
think in this market right now, we're saying again there's
just no inventory of houses. People are door knocking? What
does that mean? So door knocking means that you knock
on every door in a neighborhood and ask them are
the interested in selling their home? So I don't advise this.
(06:33):
For some areas you may want to bring somebody with you,
but I mean it does work. You have we're having
a real good You have people who don't know who
to call. They may want to sell their house, but
they don't know a real estate agent. The average seventy
two year old lady who lives in Vuying City, who
has lived there for fifty years, the neighborhood change, what
(06:55):
maya two. It's what's really interesting is, of course, like
this we're talking to people of color here. We're not
advising that you walk around every neighborhood and knock on
the door, right, we know we don't want you bound
and gag with a dirty tubeck down your throat. Girl. However,
I have gotten a lot of just colors halls. How
many calls you get a day? I mean I feel
like now it's a little bit different because we don't
(07:16):
all have home phones. Yeah, but they find you, they
find you, or I just get a little pretty picture,
postcards or text or a text. So there's lots of
ways to do it. You know, you can do mailers.
You can find a zip code. You can send out
postcard saying are you interested in selling your house? Like
the Squeaky Wheel gets what is it? Yeah? Yeah, well
squeaky Wheel gets the grease. Yeah, Squeaky Will gets to Greece.
(07:38):
But um, if you keep knocking enough, you might get
a hundred knows. But that one yes could be a
hundred thousand dollars in equity, because some people truly care
about who buys their house. They have memories, they're they're
not trying to sell to the highest bidder. They want
someone who actually wants to make this a home. And
you would be surprised how many offers I have taken
(08:00):
When I've kept to look at five offers and it's
an investor versus a family who wants to buy for
the school system, I will choose the family first. Yeah.
That's actually a friend of mine who was just buying
a house and they had to specifically they were relocating
to Atlanta. They needed to be in a specific area
to get into a specific school. And they actually won
the multiple bids on this woman's home because she had
(08:22):
grown up there with her family. All her kids went
to school in that little district, and she really wanted
a black family in that house to have her their
kids carrier have the same opportunity. And I couldn't believe it.
And they actually got a very decent price on it
because they went in and she was there for every showing.
Because people are passionate about their homes, you would be surprised, like, um,
(08:44):
a home is one of the most emotional home purchases
that most people make. And as a realtor, you know,
I try to be the voice of reason and tell
them to keep the emotions out of it when it
comes to certain things like she didn't like my wallpaper.
She doesn't have to like your wallpaper, honey, you know
what I mean. So, yeah, people don't realize that. You know,
(09:05):
people record things, and you're saying that you need god
awful things about someone's home. That's their home, that's their taste,
so you're insulting them. But door knocking is a way
that you can really like shake the trees. I call
it tree shaking. That's where you find the money. Let's
shake these trees and door knocking will put you in
front of a person who when they get ready to sell, there's, oh,
I met this really nice lady. That's how I get
(09:26):
if I want to take over a neighborhood. If I
sell a home in one day, most of those people
don't have an agent that they've used. They're going to
call from my sign and say, hey, it looks like
they got this. I'd like to go ahead and sell
mine too. Right now, we're in a transition period. People
have been in the house for you know, almost two years,
and some of them want to move back closer to
(09:48):
family and smaller areas and that sort of thing. So
if you live in a yeah, or the beach, So
if you live in a bigger city, door knocking is
really where you get it because if people have lived
there for you know, thirty years, they're ready to go.
They're ready to go, yes, exactly, especially and if there's
and so I hate to say and sound morbid, but
(10:10):
watch the obituary. Yeah, you'll watch the obituary. Yeah, So
I can pull up demographics for any area, right, and
you know, there's certain parts of Buckhead that is third
we're getting schooled today this but but this is anyone
can do this. Anyone can do this a wholesaler. This
is how they find their properties. So if they pull
(10:32):
up the demographics for a neighborhood and they know that
the average age is over fifty five, that's the average
ages over fifty five, then what are those individuals getting
ready to do? Retire? I look at the year the
house was built, so neighborhood that the homes were built,
the entire subdivision was built between nineteen eighty and nineteen nine.
(10:54):
That means that most of them need a new roof
or no, not a new roof. They were in the
ups and downs of a market. So some of them
who didn't because I can pull from the tax markets
and I can see if they refinance their house. So
if they didn't refinance their house, that means that if
they bought it in nine in Stone Mountain at and
(11:20):
now that house and Stone Mountain is four fifty. But
in their mind, yeah, they're not online every day. They don't.
They're not. They couldn't conceive a home being worth double.
They couldn't conceive it. So somebody renovated for fifty five,
but I'm gonna buy yours as is. If I offered
(11:40):
you three hundred as is no inspections. Big deal. Yeah,
as there's no inspections because I'm going into it. Most
people don't know this. With the two or three K,
the appraisal, you have a ten percent cushion. So even
if the house doesn't appraise, you have ten percent because
they know there's renovations that have to go into it.
So it's to your advantage to do a two or
(12:02):
three K loan because now all of those things that
you want to change in the house, all those cosmetic
things you can do included in the loan, and what
you're going to have to put down. Give them that
as earnest money. Give them that as earnest money so
that they know it may take me a little bit longer.
But I'm going to give you ten tho dollars in
earnest money because I've already been fully underwritten before we
(12:23):
started this process. So you can feel comfortable. Okay, My
I feel like this is just blowing my mind here,
and I think people are listening to Sorry, know, what's
who is it? So as someone who's trying to get
into the industry, right you're talking two or three K
or talking all these things, who is supposed to guide
me to this? Isn't my real estate agent? Is it
my broker? Is it? Is it? What? And how do
(12:44):
I find the best person to lead me along this journey?
Because I'm confused, I'm scared now and they don't want
fear in any of our purchases. We only want abundance. Well,
m YouTube University is going to be your best bet.
Your average agent has no idea what to do outside
of right the contract and the offer. The average agent,
the average agent doesn't close enough transactions to have this
(13:06):
type of experience. So you want an agent who won
is not just a good negotiator on contracts, but understands
the market, understands programs. You know, I'm different beasts in
that way. Is because I sell two first time homebuyers
and I sell luxury homes. But my sweet spot is
the middle because that's where I started in the business,
(13:28):
was first time homebuyers. So I know that buyer, I
know their pain points, I know what their challenges are.
I know the amount of student loan debt they have
is really a challenge for them. So we're gonna find
a solution for them. So I will tell you the
best place you can go or podcasts like yours. And
so when you hear these terms, write them down and
then go online. Yeah yeah, take your take your notes.
(13:50):
I mean, I can't tell you I have a three
deals going on right now in other states because of
information that I learned on a podcast for areas that
I have friends that live there that wouldn't each those areas.
I went there found forty four lots. Forty four lots
because I have investors who only want to build a
hold and hold them for ten years, so they don't
(14:10):
care how bad the area is. They're gonna go switch,
change the whole blot like that. So they don't care
how bad the area is, because in ten years there
everything changes. They've got to change their mindset. Like, Okay,
this investment, I'm going to hold it, and I love
it so much. And I hope you guys are taking
all these tips and tricks down because this is real.
This is how we really get ahead. This is really
(14:31):
how we do our own research. D I O R
to get aheaded industries where we previously have not had
a major steak, but we are now putting down our flags,
We're putting down our stakes, and I'm so happy to
have you got here, you here with us today, MAYA,
thank you so much. You're welcome. So the internet is
their best friend for the good and the bad information
and somewhere you'll find the truth. But when you know
(14:54):
what ye're a property was built, it will tell you
a lot about the neighborhood. You can pull it up
and see who lives there, their age, Like literally, if
you google that address is going to tell you who
lives there, how old they are, how many people live
in that house, everything, everything, So you have all the
information you need, all the information you need to go
(15:16):
door knock because if a home a neighborhood was built
in the seventies or eighties, and that home is paid off,
and you'll be able to see if the mark if
they tell a mortgage, that's amazing informations. It's all public.
So my I think everyone's going to be out their
door knocking and doing their own research. Love it. We're easy,
everyone would do it, but it's not. But that's why
we're here to make some really great money moves. Can
(15:36):
you please tell everyone in our audience where they can
find you on social media so that they can keep
in touch with you and figure out more of your
gems that you do so gratefully share with us. I
love following you. Oh thank you. So it's maya slide,
it's m A j A s l y and that's
on all social media platforms. I'm not on Twitter that much,
but think we're gonna start tweeting a whole lot um. Yeah,
think I'm gonna start tweeting because I really get tired
(15:58):
of people telling people false information and they're not a
licensed professional. You're not a licensed professional, so you don't
have access, like you can find all this data online,
but you can't go write the contract yourself. You can't
go start tweeting for us. So I'm gonna put some
gems out there so that you know, people will understand
that none of this is scary, none of its rocket science.
(16:20):
I didn't ask you to go build a bomb. I
said build a house, build a house, Build a house
or maybe a multi level house, whatever, Build something, build
build uh an a U D build a du build
and pull, build a house in the back of someone's yard.
That's interesting. Oh yeah, oh yeah, alright, money movers. That's
all the time we have for today. But make sure
(16:41):
to follow Mile on all of her social media handles
and please encourage her to tweet. Thank you so much
for tuning in Money Moves audience. If you want more
or a recap of this episode, please go to the
bank Greenwood dot com and check out the Money Moves
podcast blog. Money Moves is an I heart Radio podcast
(17:04):
powered by Greenwood Executive produced by Sunwise Media, Inc. For
more podcast on I heart Radio, visit the i heart
Radio app, Apple Podcasts, or wherever you get your podcasts from.
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