Embark on an inspiring journey with us as Heidi Baez, my incredible wife and business partner, shares how we turned our dream of homeownership into reality. Despite not having the full down payment, Heidi's unwavering faith and expertise as a mortgage broker were instrumental in our first property purchase. Together, we reveal how teamwork, persistence, and a bit of faith can lead to success, while offering practical advice like visiting neighborhoods at different times to truly understand your potential new home. Learn from our story and discover how these principles can guide your path to owning your own space.
In this episode, Heidi and I also explore the meaningful nuances of gratitude in the real estate and mortgage sectors. Hear the heartwarming story of a client who thanked Heidi with flowers after a long journey to improve her credit score. We also discuss the advantages of working with a mortgage broker and navigating common concerns like interest rates. With an optimistic outlook towards 2025, we encourage listeners to consider the lasting value of real estate investments, focusing on building equity and leaving a legacy for future generations. Let our experiences inspire you to take that significant and rewarding step into homeownership.
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Episode Transcript
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Speaker 2 (00:08):
Hello everyone, Welcome to Sudo with Bias
podcast, and I'm here with mywife, Heidi Bias, my special
guest.
I'm extremely excited thatHeidi's here with me, my wife,
my best partner, my everything,in other words.
So Heidi'm actually happyyou're here.
Speaker 1 (00:24):
You joined us yes, I'm happy to be here.
Speaker 2 (00:27):
Thank you so much for having me I would prefer
mortgage lender yes so heidi uhI want to talk a little about
our story.
Okay, me and heidi, we've beenmarried for almost eight years
yes you can say that it's safesafe to say Say eight years,
seven to eight years.
We have two beautiful kids.
I have a son and a daughter,levi and Lexi, six-year-old,
(00:49):
two-year-old.
Heidi's running her business.
I'm running my business.
I'm a real estate broker.
Heidi's a mortgage broker.
We are the you know like peoplesay, the dream team.
Yes and we try to do thistogether.
Speaker 1 (01:01):
And we're working together, working together and
working every day together.
Speaker 2 (01:04):
That's the best part yeah, so let's hear your side.
How do you feel about being amortgage broker and?
Speaker 1 (01:11):
Working together.
Speaker 2 (01:11):
Yeah, working together.
Speaker 1 (01:12):
Yeah, so the mortgage side is definitely not easy,
but I love it here.
You know there's always there'sups and downs, but I feel like
the best part of being amortgage broker is being able to
help people that are in needand, you know, are looking and
sometimes people don't thinkthat they can qualify and when
(01:34):
they come to me they'resurprised and I think that's one
of my best experiences, youknow, just like seeing that they
can actually qualify and, youknow, making it happen.
Speaker 2 (01:46):
You know I've been reading some comments, and one
of the comments I've beenreading on TikTok is that people
want to know how we became ahomeowner, our first property,
what was the experience for ustoo, because same thing that you
know, we're helping people buyor sell.
We was in the same positionright.
So we understand all thosefears, all that.
You know people get nervous, sotell them about our experience
(02:08):
on when we borrowed firstproperty how it was.
Speaker 1 (02:11):
Yeah, so we were also very scared.
I don't know if you remember,but we actually didn't even have
the money for the down payment,which is incredible.
So basically, we just decidedyou know, ok, let's do it, we're
about to have a kid, let's justgo for it, right?
So we just went, got approved.
We needed a certain amount ofmoney and we didn't have it.
(02:33):
At the time, we were kind ofjust like hoping, you know,
something would happen.
And and it did, um, you know,we put God first, um, which is,
yeah, which was one of the mostimportant things, and we were
guided in the correct line andwe were able to come up with the
money towards the transaction.
(02:54):
Right, it was mid-transaction.
Speaker 2 (02:55):
So this is how it happened.
Our first property was a condo.
Speaker 1 (02:58):
Yeah, it was a condo.
Speaker 2 (03:00):
One thing that I would say publicly.
Speaker 1 (03:02):
I appreciate.
Speaker 2 (03:02):
Heidi Because she brought my faith up.
I usually was a guy with a verylow faith right, especially in
God presence right.
But Heidi has brought it up tome and I would share that story.
Why what she did that day.
So we actually went to thecondominium.
We wanted to get the condo.
Our first property was a condothree bedrooms, two baths, wet
parking space right.
Speaker 1 (03:21):
We also had a laundry inside our yeah, when we saw it
, I fell in love with itactually the layout and even to
this day, like I I tell him allthe time I loved our condo, like
I was very happy there.
But you know, we wanted morespace because we had obviously
we had, um, our second child,yeah, and it was a girl, so she
definitely needs her own space.
(03:42):
So so we decided to buy a home,which was our second property
that we bought, but I still lovethe condo.
It wasn't the biggest, but itwas the one that got us here, I
feel.
Speaker 2 (03:56):
I don't know that condominium.
We actually went to purchasethe condominium.
We qualified to purchase but wedidn't have the down payment.
But one thing that we did onenight, I was driving.
I used to go every night to seethis condo and we qualified to
purchase but we didn't have thedown payment.
But one thing that we did onenight I was driving.
I used to go every night to seethis condo with Heidi.
She was annoyed.
Every night she'd pull overaround 9, 10 to see the condo
outside the neighborhood,Because to all those buyers,
when you're buying a property,it's good for you guys to also
go at nighttime see theneighborhood, see the places
(04:27):
around.
Speaker 1 (04:27):
So when you're moving your family, it's good to know
where you're moving to right.
So we used to.
I used to drive there all thetime and I was born in that same
area.
Yeah, I was just too excited wewere in the bronx.
Yeah, so we were.
We were familiar with the area.
But those condos, basicallythey're in a gated um gated
community yeah, gated community,so the whole block is gated.
So when we we pass it, we wouldsee it all the time and I'm like
, oh my God, this is like youknow.
(04:47):
This is perfect for us.
Right, it's gated in.
You know, we have our parkingspot we're not going to be
worried about, because if you'refrom the Bronx, you know that
parking is horrible.
Speaker 2 (04:58):
It is.
We went to the property, wedidn't have the money and all
that.
So Heidi was like Alex just putwhat you said, put your hands
on the wall.
Speaker 1 (05:06):
No, no, no.
So, there's a saying in theBible that everything that your
feet touches, god promises itwould be for us one day.
So we went one night.
Yeah, so my dad's a pastor,right?
So I, you know, I grew up as apastor's child and a PK, and
(05:27):
that saying always stood with me.
So everything that your foottouches, you declare that it's
yours, right?
So I would tell him okay, juststep on it Like step on the wall
, step on the wall, it's goingto be ours, don't worry.
Speaker 2 (05:40):
And I went two times.
Of course, when I did it, I waslike what?
I was like you know what.
Let me just listen to my wife.
Might be true what she's saying.
So I actually did that.
We went.
We stopped our foot.
It was like 9, 10 at night.
They got the homeowner.
They didn't even notice that wewere there.
Speaker 1 (05:56):
No, they weren't living there anymore.
Speaker 2 (05:58):
Remember they mommy, it was there, they were there.
Oh, I don't remember they werethere, it was like 9, 10 at
night, okay, and we did that.
And then after that I was likeyou know what?
It's time to work aggressively.
We went in contract, we put adeposit of $10,000.
Yeah, and after that we didn'teven have the rest of the down
payment.
I told Heidi babe, let's put ustogether, let's figure this out
(06:21):
together and let's just go outthere and work as much as we can
and thanks first to God.
Then, heidi, we were able topurchase our first condo.
But our faith, we put ittogether.
Our belief, we put it together.
We basically became one right.
Which we are because we'remarried.
Right, we became one and weboth had the same goal was to
(06:41):
purchase something because Leviwas coming on the way and I was
nervous because I had aone-barrel rental.
I was nervous I cannot raise myson in the one-barrel.
I was like we need more space.
So I told Heidi babe, it'seither this or we're going to
have to go get another apartment.
But I prefer to get our ownplace pay our own mortgage
instead of paying rent.
So I told Heidi, listen, let'sjust go for it.
Heidi, of course, supported me.
Her faith brought it in and Iwas like all right, it's that
(07:03):
time to purchase the problem.
We purchased it and I mean, Iwas there, it was once we
purchased.
We bought it on my mom'sbirthday, december 3rd.
Speaker 1 (07:11):
Yeah, I remember it was cold because I had my jacket
and scarf, but let me elaborateon that, right?
So we needed a 20% down, butyou know that's not and we were
first time home buyers, but yeah, that's not always the case,
(07:32):
right?
So in our situation, we had todo it this way because we
qualified with a certain amount,but to make it happen we had to
do a 20% down.
So every yeah, everybody'ssituation is different.
You know also, when you knownot not saying that every first
time homebuyer needs a 20% down,you know I've done loans for
(07:54):
first time homebuyers that youknow they only require three,
three, 3.5, or you know 5% down.
So it's basically you know younever know your scenario and
what is.
Or you know five percent down.
So it's basically you know younever know your scenario and
what is.
You know everybody's scenariois different, so you know.
That's why I wanted it likeright, just to make sure
everybody understands, it was inthe bronx.
Speaker 2 (08:11):
So condominiums they don't.
Speaker 1 (08:13):
They don't accept fhas they don't accept fhas,
that's the thing.
Speaker 2 (08:16):
And then we didn't want to pay pmi, so we did a 20
and then the minimum, usuallyfor the Bronx is 10% yeah.
Speaker 1 (08:24):
So that's another thing that you know.
Speaker 2 (08:26):
So we bought it.
Speaker 1 (08:28):
I mean, it was like that's where everything started
from there, we went on and nowwe're here eight years, but
Heidi got some questions for you, I think everyone's been asking
me.
Speaker 2 (08:36):
I know you used to be a real estate broker, right,
but you decided not to become amortgage broker a few years ago
already.
Speaker 1 (08:42):
Yes.
Speaker 2 (08:42):
How's that transition been for you?
Speaker 1 (08:44):
It's been.
It's been different, so themortgage side is very different.
I always tell my husband I feellike I feel like you see more
gratitude on you know theclients that you help here in
this side than the realtor side.
Yeah, there was recently.
There was a client that evencame to me with flowers at a
(09:08):
closing and that was so touchingto me because I was always the
one.
Speaker 2 (09:12):
I never got flowers, no, as a realtor, yeah, when.
Speaker 1 (09:15):
I was a realtor.
As a realtor, I would be theone to bring them you know the
buyer something.
And I would be the one to bringthem you know the buyer
something.
And, and that really touched myheart, I was like, wow, you
know like humble beginnings andnow look more right yeah exactly
.
So you know, you could see thatthe gratitude was there for this
client.
She was very grateful.
Mind you, I was working withthis client for over two years.
(09:37):
Wow, yeah, so we were.
We created a strategy, a, aplan for her to be able to
qualify, uh, for the time thatshe bought and, yes, it was very
structured.
Yeah, so we spent.
Speaker 2 (09:50):
Yeah, it was about two years that she took to
basically preparing this by yeahfor the time documents and
letting her know what to do yesand she was able to purchase
house two years later.
Speaker 1 (10:00):
Yes, but she also, um , it was her decision to wait
that long.
It wasn't because of her um she, you know, because there's a
lot of things that play a partright.
So for her it was important toget a very good interest rate
right.
So she wanted to work inparticular and focus on her
credit score, her F FICO.
That was the most importantthing.
(10:21):
So that was one of the reasonswhy she decided to wait that
long and to do the wholetwo-year process.
Speaker 2 (10:29):
So if you have a good credit score, a high credit
score, you get better rates.
So yes, how does that work?
Speaker 1 (10:35):
So it definitely helps you get a better rate
because you know with, let's say, we can do loans for people
that have 500 credit score.
Fico score yes, but sometimesthe interest rate isn't
favorable.
You know it's a little bitelevated because these banks see
it as risk.
Speaker 2 (10:56):
You know they see it as risk to them.
I'm with you but, mostimportantly, you'll be able to
buy a property.
Speaker 1 (11:01):
You'll be able.
Yeah, A 500 credit score isamazing.
Speaker 2 (11:02):
Yeah, I'm with you.
But, most importantly, you'llbe able to buy a property.
Speaker 1 (11:03):
You'll be able.
Speaker 2 (11:04):
Yeah, A 500 credit score is amazing.
I'm not saying the credit scoreis amazing, but it's good for
you guys to at least get yourfoot in it definitely helps.
Speaker 1 (11:08):
Yeah, it helps.
So you don't need a very highcredit score.
And that's what I was trying toexplain to this client that I
had.
You don't need a high creditscore.
But if it's important to youand you do care on getting a
good interest rate that you aregoing to hold for a long time
without refinancing, then youknow let's work on it.
(11:28):
And she was like yeah, that'swhat I want to do, I want to
focus on getting that situatedand get a little bit higher.
You know, but most of the timeswe were able to do, you know,
loans for people that have thattype of FICO score as low as 500
.
Speaker 2 (11:45):
Sometimes it feels good to be appreciated.
Speaker 1 (11:47):
Road to Tire.
Speaker 2 (11:48):
We do everything we can to right, but most people
that I see that's appreciated,mostly the lenders and attorneys
, right, but I think this is ateam thing.
Everyone should see everyone'sbasically working.
What are we putting into it?
But at the end of the day, wejust want to see the client
happy.
It's good that you experiencedthat, to be honest with you.
Speaker 1 (12:07):
Yeah, it was a nice experience and I don't do it for
that, but it just shows youthere's good people out there.
I don't know.
There's people that doappreciate your work and
sometimes it's nice to be seen Ahundred percent.
Speaker 2 (12:26):
I'm with you a hundred percent.
Um so are you a broker or abanker?
Speaker 1 (12:30):
I am a.
I'm a broker.
Speaker 2 (12:32):
Great, great.
Which one you think is best,broker or bankers?
Speaker 1 (12:35):
Well, a lot of bankers like their banking side,
but a lot of brokers think thatthey're you know side, but a
lot of brokers think thatthey're you know where it is.
Speaker 2 (12:48):
So I personally I prefer being a broker.
Speaker 1 (12:49):
Okay, yes, I prefer, and I've always been a broker on
the broker.
Which broker is?
The mortgage side of the of thebroker world is basically
wholesale.
We do wholesale, and thenthere's retail, so, like the
banker banks, that would beconsidered a retail bank right.
Speaker 2 (13:05):
So you picked broker side right?
Speaker 1 (13:07):
Oh yes, so the reason why I decided to be a broker is
because my clientele, you know,led me to being practically, to
having more options, right?
So the brokers definitely havemore options.
We have ITIN.
Let me ask you a question.
So you have more options, right?
Speaker 2 (13:23):
So the brokers definitely have more options.
We have ITIN.
Let me ask you a question.
So you have more options.
How many banks do you haveaccess to today?
Speaker 1 (13:26):
Yeah, we have.
Right now I am with 90 banks,Wow.
Speaker 2 (13:30):
So you're basically saying that these buyers that
come to you have access to 90banks?
Speaker 1 (13:35):
Yes, 90.
So if one bank doesn't do it,the other one can.
Oh, so what's the benefits ofhaving access to so many banks?
Yeah, just that if it doesn'twork somewhere, we move the same
loan over to the next one andthey'll be able to do it for
sure.
Obviously, um, each bank hasdifferent requirements and you
know different programs, butwe're able to structure the, the
(13:55):
loan do they all offer the samerates or they'll offer
different rates?
they offer different rates andbecause we brokers we do get
incentives that most retailbanks don't.
Speaker 2 (14:06):
So you get better rates for your clients.
Speaker 1 (14:07):
Yes, usually yes, and obviously you know.
They also have the option onBuying points, which is another
option.
Speaker 2 (14:16):
What programs that you offer that are the ones that
stands out the most.
Speaker 1 (14:19):
Well, my clientele that brought me here to being a
broker has been the ITINcommunity.
So which is the tax ID?
Like buyers, they're able topurchase.
Most of them sometimes, youknow, are investors and people
that have like their owncompanies and stuff.
So their taxes aren't sometimesin line and when it's like that
(14:46):
, you know, we definitely haveto explore which is the non-QM
side of things.
Speaker 2 (14:49):
What's the minimum down payment for a tax agent
I-10, sorry.
Speaker 1 (14:53):
Yeah, so it depends on the FICO.
If they have no FICO, we'redoing a 20%.
If they do have a FICO over 700, we can do as low as 10%.
Speaker 2 (15:04):
Oh, on I-10.
Speaker 1 (15:04):
Yeah.
Speaker 2 (15:05):
So all those tax IDs out there, guys, Hablamos
Español too.
She definitely offers I-10.
What other programs do youoffer?
Speaker 1 (15:12):
Yeah, we offer 1099 loans, bank statement loans.
We offer FHA, conventional VAs.
We do also for investors, we dothe DSCR, which is when the
DSCR is.
Basically we use the income ofwhatever the property is
bringing in.
That income of the property,like the units being rented out,
(15:34):
that will cover the mortgage.
So, yeah, so practically,practically no doc loans as well
.
Speaker 2 (15:40):
So in other words just bring, bring over your
documents to her and she willsee which one is best fits for
you and she.
You can bring her any type ofscenario and she will see if she
got 60 or not.
In other words, yeah, right,yeah, basically what is the
biggest regret homebuyers haveafter closing?
I love that question.
Someone asked.
They always ask you that, right, yeah, what's the biggest
regret homebuyers have afterclosing?
I love that question.
Someone asked.
Speaker 1 (15:59):
They always ask you that, right yeah.
Speaker 2 (16:02):
What's the biggest regret homebuyers have after?
Speaker 1 (16:06):
After Closing.
So after closing they alwayssay you know, we should have
done this sooner.
Why didn't we do it in COVIDtime, when the rates were insane
, you know, because at that timerates were insane and now we're
at a seven, you know.
So it's, it's a regret thatmost home buyers I have seen at
um after closing they do have iswhy we didn't do this, you know
(16:29):
I want to bring on that topicthat heidi just said.
Speaker 2 (16:31):
Uh, you know a lot of home buyers.
They that's the biggest thinghere is like why I didn't do it
sooner.
Right, I think we start hearingtoo much on the media,
especially talking about therates.
I'll be honest with you guys.
If you qualify to purchase ahome, yes, rates is important.
Right, you want to get the bestrate.
But purchase is moreimportantly, having your foot in
real estate, right.
(16:52):
Sometimes we just focus onthings, which is interest rates
and all this.
I think it's more importantlyhaving your foot in real estate,
because once we purchase ourfirst property right, it opened
a lot of doors for us and wecontinue purchasing more
properties, right.
But at the end of the day, I'mmore focused on what's today and
we just got to go for it andthe rates go down and just do a
refinance in the future.
That's what I always say toeveryone.
(17:13):
It's just more important isstepping your foot in another
thing, is like when we purchasedour first property, I had a
friend's family mentioned likewhy don't you just buy a single
family?
Why don't you buy a two family?
Speaker 1 (17:24):
yeah, they actually told us to buy a two family and
then we were like I mean, thisis what.
So we wish, I want to make itclear to everyone is what you
can afford yes, what matters?
How could I get?
Speaker 2 (17:33):
my foot into something in real estate.
Doesn't matter if it's a co-op,condo, single family, two,
three family.
That's what you can afford atthe moment.
It's more important is what canyou buy and afford at the
moment?
Right, of course you're goingto hear those negative comments
coming in about ah, I shouldhave got a single family, two
family.
I heard it so many times andI'm like this is what I could
afford.
But guess what?
I bought that and we continuebuying property.
(17:55):
But this is where we started at.
I always tell my wife where westarted at is like we started
from the bottom together, right,me and my wife Heidi.
And little by little thanks tofirst God we've been climbing up
, little by little.
We're still not where we wantto be at, but we're getting
there.
Just another thing.
Speaker 1 (18:11):
And it's amazing because, wait, let's elaborate
on that right on that, right so.
But so we bought a condo and itactually helped us to qualify
for our home now, which is asingle family residence, and you
know that's why, buyingsomething, you know, the sooner
you buy something, you know, nomatter what it is, if it's a
(18:31):
co-op, a lot of people, you know, underestimate co-ops, but a
lot of the co-ops, a lot youknow my clients come to me and
they're using it as additionalincome, you know, to qualify for
a bigger home.
So you know they it's.
You're never losing in realestate and don't be afraid, you
know.
If it's not your dream home yet, don't worry, you'll get there
(18:52):
you know, just just get is isimportant.
Just getting in that he said.
Just get in, get your feet wet.
See, you know if it's for you,because some people also don't
like you know the home ownershipright.
Speaker 2 (19:05):
Some people decide it's too much for them you know,
usually like the maintenance,people always complain about the
maintenance yeah, that's whyyou know everyone have different
preferences.
Whatever you know preference,you have to just do it you know.
Speaker 1 (19:16):
Yeah, and just don't underestimate co-ops and condos
because at the end of the day,it will help you.
Speaker 2 (19:24):
Any real estate will help you, yes, it feels good to
say you own something yeah, thattoo you know so it's good to
say that I own this and, at theend of the day, we're building
you know this for our kids.
For us, me and heidi more like,what can we build, uh, for our
kids?
You know, so this is what wekids for us, me and Heidi more
Like, what can we build for ourkids?
You know, so this is what we'vebeen doing trying to buy as
much real estate as possible.
We can't, right, as everyoneout there probably is too right,
(19:45):
heidi, what's one tip you wouldlike to share with buyers for
2025?
Speaker 1 (19:50):
For 2025?
Speaker 2 (19:51):
This is a big year for a lot of people, so Just go
for that house.
Speaker 1 (19:55):
You know, just just like I said, um, don't be afraid
.
Um, I know a lot of people.
It can be scary, cause it is.
You know it's.
It's a very big step.
It's a really the one of thebiggest transactions you will
possibly make in your life.
So, you know, don't be scared.
If you qualify, go for it.
(20:16):
You won't regret it.
You just won't because in realestate you're always it's always
building equity, it's like.
Speaker 2 (20:25):
I'll be honest with you.
We have sold so many homesright.
We have helped so many familiesbuy, sell homes and especially
on the buyer side, I've neverheard a buyer say to us I regret
buying this house.
Speaker 1 (20:36):
I regret doing this, I regret this house.
I regret doing this.
Speaker 2 (20:38):
I regret, and you really don't hear it.
If you hear it, you reallydon't hear none of that.
Speaker 1 (20:42):
Yeah.
Speaker 2 (20:43):
Right, especially if you have the right team, the
right sources next to you topurchase yeah, because that's
important too, right.
Yeah.
So it's like wow, so people.
You're never going to hear it,so it's like, why not do it?
Speaker 1 (20:54):
You know what I'm saying?
Speaker 2 (20:55):
It's actually so beneficial instead of going and
buying a car.
I see people buying cars,buying maxing out credit cards
and all this.
Speaker 1 (21:01):
It's nice to have cars, but, you know, make sure
you get a house first.
Speaker 2 (21:05):
Yes, guys, you know that's one thing that I did is
like I bought the house and thenI bought the car.
Speaker 1 (21:13):
You want to make sure you're comfortable, first where
you're, where you're staying,you know, so it it makes sense.
I mean, a lot of people willsee it however.
They want Right, but yeah.
Speaker 2 (21:23):
Let me ask you a question.
You know, when these clientsare in the process of wanting to
get pre-approval, or beingpre-approval, or in contract,
what are the things a buyershouldn't do?
Speaker 1 (21:32):
What a buyer shouldn't do when yeah.
So basically, you don't want tobuy a car, you don't want to
make large transactions asbuying furniture and stuff like
that, you don't want to co-signfor anyone, just because this
will come up on your credit.
(21:52):
And you know, even thoughthere's tricks and tips that we
can, as mortgage brokers, giveyou, it's important to keep your
DTI at a certain amount so thatway you can qualify.
And if you don't know what DTIis, it's debt to income ratio,
so your debt to income exactly.
Basically, it's very importantto keep it as low as possible.
(22:13):
And yeah, just don't make anylarge transactions and keep
working on your FICO score, butdon't take out any credit cards
either.
That's also another one.
Don't take out credit cards.
Don't take out any credit cardseither.
That's also another one.
Don't take out credit cards.
Speaker 2 (22:23):
Don't take out credit cards, okay.
Don't apply for credit cards,yeah.
Speaker 1 (22:27):
So basically anything that has to do with your credit
basically Wow, yeah, like don'tmess with your credit.
Speaker 2 (22:34):
One thing I would say basically witnessing and seeing
, heidi, is that you know youshould really follow what your
mortgage broker advice?
Speaker 1 (22:41):
is you want?
Speaker 2 (22:41):
this to be as smooth.
As you know, the process can bestressful, right, heidi?
Speaker 1 (22:45):
Yes, what's the?
Speaker 2 (22:47):
most stressful part of this other transaction on
purchasing a home.
Speaker 1 (22:51):
Well, it could be anything, because you know,
there's situations in whichmaybe everybody's different
right, but there's situationsthat maybe the person doesn't
have enough funds right at theend, like, let's say, the
appraisal comes in differentright, but there's situations
that maybe the person doesn'thave enough funds right at the
end, like, let's say, theappraisal comes in short right,
that's a big issue, because nowthey have to come out of their
pocket with an additional 20Kthat they don't have.
Speaker 2 (23:14):
So you know, Depending on your contract's
language.
Speaker 1 (23:17):
yeah, Basically, yeah .
So that's why I saideverybody's scenario is
different.
It's really hard to.
I would say it's more like theconditions.
Speaker 2 (23:27):
Some people get more conditions than others.
Yeah, but I don't think that'shard though.
Speaker 1 (23:31):
Because the conditions basically it's like
the bank is already approvingyou, so all you have to do is
just get them those additionaldocuments.
So it's not really.
Speaker 2 (23:39):
Some buyers get overwhelmed.
Speaker 1 (23:41):
They do.
Speaker 2 (23:43):
I think that some buyers get overwhelmed.
Speaker 1 (23:44):
They do.
I think that's yes, becausesometimes they do feel like okay
, I already submitted this, yeah, but they need more, you know.
Speaker 2 (23:48):
Explanation yeah to all those buyers like you gotta
understand, getting a huge loanyeah, you know some of you guys
are getting half a million.
Speaker 1 (23:56):
You know close to a million yeah, new york is
expensive, so yeah right, so youdo numbers, I do want to say
that.
Speaker 2 (24:03):
I want to acknowledge my wife, heidi.
She does a great job.
She's my wife, a mother of twokids.
She does a great job with mykids and she's also running her
own business.
Because she runs her ownbusiness, her own mortgage thing
Right.
I run my own company mortgagesand she's doing a great job.
One thing I have seen of Heidi,like for instance last night I
(24:26):
saw Heidi stay with a clienttill like 8, 9 pm because the
client had to work and came outaround 6, 37 pm and wanted to
get pre-approved.
One thing about Heidi she takescare of the client at 7 9 pm.
The client already qualifiedfor what was it?
Speaker 1 (24:44):
650 000 right, yeah, actually yeah, because 700 000
yes, but because they wanted tostay in a certain basically take
, take time from her family togo and take care of this client,
right?
Speaker 2 (24:56):
so I do want to acknowledge all the work she
does for our clients.
She goes beyond and sheactually puts her love.
I've seen heidi tear.
I've seen heidi, you know, butshe does for our clients.
She goes beyond and sheactually puts her love.
I've seen Heidi tear.
I've seen Heidi, you know, butshe does everything she can to
get this done for the client.
That's what I mean.
She goes far and beyond and shedoes it with a lot of love,
right?
So I do want to acknowledgewhat Heidi does for our clients,
for her own clients too.
I see how hard Heidi works.
I definitely want toacknowledge her and, guys, if
(25:17):
you need a pre-approval, reachout to my wife, heidi.
She's the best, trust me.
She works, she puts her heartinto it and you want someone
like that next to you, someonethat puts their heart and
actually been in your shoes aswell, because we've been in your
shoes, right.
I just want to acknowledge you,babe.
Speaker 1 (25:31):
You've done a great job.
I want to acknowledge you too.
You're building an empire.
You're doing well, you workhard, you work very hard.
I've seen you stay long hourstoo, you know because if you
know real estate, someone thatknows real estate is this guy.
He knows what he's doing.
So if you need your home soldin a certain amount of time.
(25:53):
He's your guy.
Speaker 2 (25:53):
We have almost a decade doing this business and I
actually, like I personally,enjoy it and I think I you know
I I love real estate so much.
Like, for instance, leviyesterday came yesterday and he
brought me a picture.
He drew me a picture and it wasfunny, what he drew me was a
house.
Speaker 1 (26:08):
A house, yeah.
Speaker 2 (26:09):
Everyone knows how much I love real estate.
Speaker 1 (26:11):
He definitely.
He cut it out and he was likePapi, I made you a house.
But he knows that his dad sellshouses and that's you know.
Speaker 2 (26:20):
I tell levi all the time and he laughs.
I'll tell him yeah, when you goto school, you gotta ask all
your friends who want to buy andsell.
Remember, your dad sells realestate.
And he just starts laughing.
He tells me no, I'm not gonnado it.
But you know, my thing is Ijust want to involve my family
because this is a familybusiness.
Right, we're trying to bestcontrol our kids and involve
them in real estate.
Hopefully they go that route,but it's their choice, right?
Speaker 1 (26:40):
one day they're gonna make their own decision.
Speaker 2 (26:42):
That so, which has been hard for me to accept you
know, as a father it's hard toaccept that, but I'm gonna have
to respect it guys, please likesubscribe any comments.
Please leave them below please.
Guys, prefer lanner heidi.
She's with who you with I'mwith gold rascal gold rascal
morgan, she's there for you guys.
Speaker 1 (26:58):
All her information will be based in new Based in
New York.
What?
Speaker 2 (27:01):
states do you cover, by the way?
Speaker 1 (27:02):
Yeah, so I'm personally licensed in New
Jersey, connecticut,pennsylvania, florida and New
York, so five states.
So if you need anything in anyof those states, I am your girl,
and if you need your home soldout here in New.
Speaker 2 (27:19):
York Buyers and sellers.
I'm here to assist you.
So once Heidi pre-approves- you.
I'll come and show you thehomes and we'll find you your
dream home and we're here forall your real estate needs.
Okay, guys, thank you so much.
Take care, guys.
Speaker 1 (27:29):
See you till next time.
Speaker 2 (27:31):
Bye guys.
Hello everyone, Welcome to Sudo with Bias
podcast, and I'm here with mywife, Heidi Bias, my special
guest.
I'm extremely excited thatHeidi's here with me, my wife,
my best partner, my everything,in other words.
So Heidi'm actually happyyou're here.
Speaker 1 (00:24):
You joined us yes, I'm happy to be here.
Speaker 2 (00:27):
Thank you so much for having me I would prefer
mortgage lender yes so heidi uhI want to talk a little about
our story.
Okay, me and heidi, we've beenmarried for almost eight years
yes you can say that it's safesafe to say Say eight years,
seven to eight years.
We have two beautiful kids.
I have a son and a daughter,levi and Lexi, six-year-old,
(00:49):
two-year-old.
Heidi's running her business.
I'm running my business.
I'm a real estate broker.
Heidi's a mortgage broker.
We are the you know like peoplesay, the dream team.
Yes and we try to do thistogether.
Speaker 1 (01:01):
And we're working together, working together and
working every day together.
Speaker 2 (01:04):
That's the best part yeah, so let's hear your side.
How do you feel about being amortgage broker and?
Speaker 1 (01:11):
Working together.
Speaker 2 (01:11):
Yeah, working together.
Speaker 1 (01:12):
Yeah, so the mortgage side is definitely not easy,
but I love it here.
You know there's always there'sups and downs, but I feel like
the best part of being amortgage broker is being able to
help people that are in needand, you know, are looking and
sometimes people don't thinkthat they can qualify and when
(01:34):
they come to me they'resurprised and I think that's one
of my best experiences, youknow, just like seeing that they
can actually qualify and, youknow, making it happen.
Speaker 2 (01:46):
You know I've been reading some comments, and one
of the comments I've beenreading on TikTok is that people
want to know how we became ahomeowner, our first property,
what was the experience for ustoo, because same thing that you
know, we're helping people buyor sell.
We was in the same positionright.
So we understand all thosefears, all that.
You know people get nervous, sotell them about our experience
(02:08):
on when we borrowed firstproperty how it was.
Speaker 1 (02:11):
Yeah, so we were also very scared.
I don't know if you remember,but we actually didn't even have
the money for the down payment,which is incredible.
So basically, we just decidedyou know, ok, let's do it, we're
about to have a kid, let's justgo for it, right?
So we just went, got approved.
We needed a certain amount ofmoney and we didn't have it.
(02:33):
At the time, we were kind ofjust like hoping, you know,
something would happen.
And and it did, um, you know,we put God first, um, which is,
yeah, which was one of the mostimportant things, and we were
guided in the correct line andwe were able to come up with the
money towards the transaction.
(02:54):
Right, it was mid-transaction.
Speaker 2 (02:55):
So this is how it happened.
Our first property was a condo.
Speaker 1 (02:58):
Yeah, it was a condo.
Speaker 2 (03:00):
One thing that I would say publicly.
Speaker 1 (03:02):
I appreciate.
Speaker 2 (03:02):
Heidi Because she brought my faith up.
I usually was a guy with a verylow faith right, especially in
God presence right.
But Heidi has brought it up tome and I would share that story.
Why what she did that day.
So we actually went to thecondominium.
We wanted to get the condo.
Our first property was a condothree bedrooms, two baths, wet
parking space right.
Speaker 1 (03:21):
We also had a laundry inside our yeah, when we saw it
, I fell in love with itactually the layout and even to
this day, like I I tell him allthe time I loved our condo, like
I was very happy there.
But you know, we wanted morespace because we had obviously
we had, um, our second child,yeah, and it was a girl, so she
definitely needs her own space.
(03:42):
So so we decided to buy a home,which was our second property
that we bought, but I still lovethe condo.
It wasn't the biggest, but itwas the one that got us here, I
feel.
Speaker 2 (03:56):
I don't know that condominium.
We actually went to purchasethe condominium.
We qualified to purchase but wedidn't have the down payment.
But one thing that we did onenight, I was driving.
I used to go every night to seethis condo and we qualified to
purchase but we didn't have thedown payment.
But one thing that we did onenight I was driving.
I used to go every night to seethis condo with Heidi.
She was annoyed.
Every night she'd pull overaround 9, 10 to see the condo
outside the neighborhood,Because to all those buyers,
when you're buying a property,it's good for you guys to also
go at nighttime see theneighborhood, see the places
(04:27):
around.
Speaker 1 (04:27):
So when you're moving your family, it's good to know
where you're moving to right.
So we used to.
I used to drive there all thetime and I was born in that same
area.
Yeah, I was just too excited wewere in the bronx.
Yeah, so we were.
We were familiar with the area.
But those condos, basicallythey're in a gated um gated
community yeah, gated community,so the whole block is gated.
So when we we pass it, we wouldsee it all the time and I'm like
, oh my God, this is like youknow.
(04:47):
This is perfect for us.
Right, it's gated in.
You know, we have our parkingspot we're not going to be
worried about, because if you'refrom the Bronx, you know that
parking is horrible.
Speaker 2 (04:58):
It is.
We went to the property, wedidn't have the money and all
that.
So Heidi was like Alex just putwhat you said, put your hands
on the wall.
Speaker 1 (05:06):
No, no, no.
So, there's a saying in theBible that everything that your
feet touches, god promises itwould be for us one day.
So we went one night.
Yeah, so my dad's a pastor,right?
So I, you know, I grew up as apastor's child and a PK, and
(05:27):
that saying always stood with me.
So everything that your foottouches, you declare that it's
yours, right?
So I would tell him okay, juststep on it Like step on the wall
, step on the wall, it's goingto be ours, don't worry.
Speaker 2 (05:40):
And I went two times.
Of course, when I did it, I waslike what?
I was like you know what.
Let me just listen to my wife.
Might be true what she's saying.
So I actually did that.
We went.
We stopped our foot.
It was like 9, 10 at night.
They got the homeowner.
They didn't even notice that wewere there.
Speaker 1 (05:56):
No, they weren't living there anymore.
Speaker 2 (05:58):
Remember they mommy, it was there, they were there.
Oh, I don't remember they werethere, it was like 9, 10 at
night, okay, and we did that.
And then after that I was likeyou know what?
It's time to work aggressively.
We went in contract, we put adeposit of $10,000.
Yeah, and after that we didn'teven have the rest of the down
payment.
I told Heidi babe, let's put ustogether, let's figure this out
(06:21):
together and let's just go outthere and work as much as we can
and thanks first to God.
Then, heidi, we were able topurchase our first condo.
But our faith, we put ittogether.
Our belief, we put it together.
We basically became one right.
Which we are because we'remarried.
Right, we became one and weboth had the same goal was to
(06:41):
purchase something because Leviwas coming on the way and I was
nervous because I had aone-barrel rental.
I was nervous I cannot raise myson in the one-barrel.
I was like we need more space.
So I told Heidi babe, it'seither this or we're going to
have to go get another apartment.
But I prefer to get our ownplace pay our own mortgage
instead of paying rent.
So I told Heidi, listen, let'sjust go for it.
Heidi, of course, supported me.
Her faith brought it in and Iwas like all right, it's that
(07:03):
time to purchase the problem.
We purchased it and I mean, Iwas there, it was once we
purchased.
We bought it on my mom'sbirthday, december 3rd.
Speaker 1 (07:11):
Yeah, I remember it was cold because I had my jacket
and scarf, but let me elaborateon that, right?
So we needed a 20% down, butyou know that's not and we were
first time home buyers, but yeah, that's not always the case,
(07:32):
right?
So in our situation, we had todo it this way because we
qualified with a certain amount,but to make it happen we had to
do a 20% down.
So every yeah, everybody'ssituation is different.
You know also, when you knownot not saying that every first
time homebuyer needs a 20% down,you know I've done loans for
(07:54):
first time homebuyers that youknow they only require three,
three, 3.5, or you know 5% down.
So it's basically you know younever know your scenario and
what is.
Or you know five percent down.
So it's basically you know younever know your scenario and
what is.
You know everybody's scenariois different, so you know.
That's why I wanted it likeright, just to make sure
everybody understands, it was inthe bronx.
Speaker 2 (08:11):
So condominiums they don't.
Speaker 1 (08:13):
They don't accept fhas they don't accept fhas,
that's the thing.
Speaker 2 (08:16):
And then we didn't want to pay pmi, so we did a 20
and then the minimum, usuallyfor the Bronx is 10% yeah.
Speaker 1 (08:24):
So that's another thing that you know.
Speaker 2 (08:26):
So we bought it.
Speaker 1 (08:28):
I mean, it was like that's where everything started
from there, we went on and nowwe're here eight years, but
Heidi got some questions for you, I think everyone's been asking
me.
Speaker 2 (08:36):
I know you used to be a real estate broker, right,
but you decided not to become amortgage broker a few years ago
already.
Speaker 1 (08:42):
Yes.
Speaker 2 (08:42):
How's that transition been for you?
Speaker 1 (08:44):
It's been.
It's been different, so themortgage side is very different.
I always tell my husband I feellike I feel like you see more
gratitude on you know theclients that you help here in
this side than the realtor side.
Yeah, there was recently.
There was a client that evencame to me with flowers at a
(09:08):
closing and that was so touchingto me because I was always the
one.
Speaker 2 (09:12):
I never got flowers, no, as a realtor, yeah, when.
Speaker 1 (09:15):
I was a realtor.
As a realtor, I would be theone to bring them you know the
buyer something.
And I would be the one to bringthem you know the buyer
something.
And, and that really touched myheart, I was like, wow, you
know like humble beginnings andnow look more right yeah exactly
.
So you know, you could see thatthe gratitude was there for this
client.
She was very grateful.
Mind you, I was working withthis client for over two years.
(09:37):
Wow, yeah, so we were.
We created a strategy, a, aplan for her to be able to
qualify, uh, for the time thatshe bought and, yes, it was very
structured.
Yeah, so we spent.
Speaker 2 (09:50):
Yeah, it was about two years that she took to
basically preparing this by yeahfor the time documents and
letting her know what to do yesand she was able to purchase
house two years later.
Speaker 1 (10:00):
Yes, but she also, um , it was her decision to wait
that long.
It wasn't because of her um she, you know, because there's a
lot of things that play a partright.
So for her it was important toget a very good interest rate
right.
So she wanted to work inparticular and focus on her
credit score, her F FICO.
That was the most importantthing.
(10:21):
So that was one of the reasonswhy she decided to wait that
long and to do the wholetwo-year process.
Speaker 2 (10:29):
So if you have a good credit score, a high credit
score, you get better rates.
So yes, how does that work?
Speaker 1 (10:35):
So it definitely helps you get a better rate
because you know with, let's say, we can do loans for people
that have 500 credit score.
Fico score yes, but sometimesthe interest rate isn't
favorable.
You know it's a little bitelevated because these banks see
it as risk.
Speaker 2 (10:56):
You know they see it as risk to them.
I'm with you but, mostimportantly, you'll be able to
buy a property.
Speaker 1 (11:01):
You'll be able.
Yeah, A 500 credit score isamazing.
Speaker 2 (11:02):
Yeah, I'm with you.
But, most importantly, you'llbe able to buy a property.
Speaker 1 (11:03):
You'll be able.
Speaker 2 (11:04):
Yeah, A 500 credit score is amazing.
I'm not saying the credit scoreis amazing, but it's good for
you guys to at least get yourfoot in it definitely helps.
Speaker 1 (11:08):
Yeah, it helps.
So you don't need a very highcredit score.
And that's what I was trying toexplain to this client that I
had.
You don't need a high creditscore.
But if it's important to youand you do care on getting a
good interest rate that you aregoing to hold for a long time
without refinancing, then youknow let's work on it.
(11:28):
And she was like yeah, that'swhat I want to do, I want to
focus on getting that situatedand get a little bit higher.
You know, but most of the timeswe were able to do, you know,
loans for people that have thattype of FICO score as low as 500
.
Speaker 2 (11:45):
Sometimes it feels good to be appreciated.
Speaker 1 (11:47):
Road to Tire.
Speaker 2 (11:48):
We do everything we can to right, but most people
that I see that's appreciated,mostly the lenders and attorneys
, right, but I think this is ateam thing.
Everyone should see everyone'sbasically working.
What are we putting into it?
But at the end of the day, wejust want to see the client
happy.
It's good that you experiencedthat, to be honest with you.
Speaker 1 (12:07):
Yeah, it was a nice experience and I don't do it for
that, but it just shows youthere's good people out there.
I don't know.
There's people that doappreciate your work and
sometimes it's nice to be seen Ahundred percent.
Speaker 2 (12:26):
I'm with you a hundred percent.
Um so are you a broker or abanker?
Speaker 1 (12:30):
I am a.
I'm a broker.
Speaker 2 (12:32):
Great, great.
Which one you think is best,broker or bankers?
Speaker 1 (12:35):
Well, a lot of bankers like their banking side,
but a lot of brokers think thatthey're you know side, but a
lot of brokers think thatthey're you know where it is.
Speaker 2 (12:48):
So I personally I prefer being a broker.
Speaker 1 (12:49):
Okay, yes, I prefer, and I've always been a broker on
the broker.
Which broker is?
The mortgage side of the of thebroker world is basically
wholesale.
We do wholesale, and thenthere's retail, so, like the
banker banks, that would beconsidered a retail bank right.
Speaker 2 (13:05):
So you picked broker side right?
Speaker 1 (13:07):
Oh yes, so the reason why I decided to be a broker is
because my clientele, you know,led me to being practically, to
having more options, right?
So the brokers definitely havemore options.
We have ITIN.
Let me ask you a question.
So you have more options, right?
Speaker 2 (13:23):
So the brokers definitely have more options.
We have ITIN.
Let me ask you a question.
So you have more options.
How many banks do you haveaccess to today?
Speaker 1 (13:26):
Yeah, we have.
Right now I am with 90 banks,Wow.
Speaker 2 (13:30):
So you're basically saying that these buyers that
come to you have access to 90banks?
Speaker 1 (13:35):
Yes, 90.
So if one bank doesn't do it,the other one can.
Oh, so what's the benefits ofhaving access to so many banks?
Yeah, just that if it doesn'twork somewhere, we move the same
loan over to the next one andthey'll be able to do it for
sure.
Obviously, um, each bank hasdifferent requirements and you
know different programs, butwe're able to structure the, the
(13:55):
loan do they all offer the samerates or they'll offer
different rates?
they offer different rates andbecause we brokers we do get
incentives that most retailbanks don't.
Speaker 2 (14:06):
So you get better rates for your clients.
Speaker 1 (14:07):
Yes, usually yes, and obviously you know.
They also have the option onBuying points, which is another
option.
Speaker 2 (14:16):
What programs that you offer that are the ones that
stands out the most.
Speaker 1 (14:19):
Well, my clientele that brought me here to being a
broker has been the ITINcommunity.
So which is the tax ID?
Like buyers, they're able topurchase.
Most of them sometimes, youknow, are investors and people
that have like their owncompanies and stuff.
So their taxes aren't sometimesin line and when it's like that
(14:46):
, you know, we definitely haveto explore which is the non-QM
side of things.
Speaker 2 (14:49):
What's the minimum down payment for a tax agent
I-10, sorry.
Speaker 1 (14:53):
Yeah, so it depends on the FICO.
If they have no FICO, we'redoing a 20%.
If they do have a FICO over 700, we can do as low as 10%.
Speaker 2 (15:04):
Oh, on I-10.
Speaker 1 (15:04):
Yeah.
Speaker 2 (15:05):
So all those tax IDs out there, guys, Hablamos
Español too.
She definitely offers I-10.
What other programs do youoffer?
Speaker 1 (15:12):
Yeah, we offer 1099 loans, bank statement loans.
We offer FHA, conventional VAs.
We do also for investors, we dothe DSCR, which is when the
DSCR is.
Basically we use the income ofwhatever the property is
bringing in.
That income of the property,like the units being rented out,
(15:34):
that will cover the mortgage.
So, yeah, so practically,practically no doc loans as well
.
Speaker 2 (15:40):
So in other words just bring, bring over your
documents to her and she willsee which one is best fits for
you and she.
You can bring her any type ofscenario and she will see if she
got 60 or not.
In other words, yeah, right,yeah, basically what is the
biggest regret homebuyers haveafter closing?
I love that question.
Someone asked.
They always ask you that, right, yeah, what's the biggest
regret homebuyers have afterclosing?
I love that question.
Someone asked.
Speaker 1 (15:59):
They always ask you that, right yeah.
Speaker 2 (16:02):
What's the biggest regret homebuyers have after?
Speaker 1 (16:06):
After Closing.
So after closing they alwayssay you know, we should have
done this sooner.
Why didn't we do it in COVIDtime, when the rates were insane
, you know, because at that timerates were insane and now we're
at a seven, you know.
So it's, it's a regret thatmost home buyers I have seen at
um after closing they do have iswhy we didn't do this, you know
(16:29):
I want to bring on that topicthat heidi just said.
Speaker 2 (16:31):
Uh, you know a lot of home buyers.
They that's the biggest thinghere is like why I didn't do it
sooner.
Right, I think we start hearingtoo much on the media,
especially talking about therates.
I'll be honest with you guys.
If you qualify to purchase ahome, yes, rates is important.
Right, you want to get the bestrate.
But purchase is moreimportantly, having your foot in
real estate, right.
(16:52):
Sometimes we just focus onthings, which is interest rates
and all this.
I think it's more importantlyhaving your foot in real estate,
because once we purchase ourfirst property right, it opened
a lot of doors for us and wecontinue purchasing more
properties, right.
But at the end of the day, I'mmore focused on what's today and
we just got to go for it andthe rates go down and just do a
refinance in the future.
That's what I always say toeveryone.
(17:13):
It's just more important isstepping your foot in another
thing, is like when we purchasedour first property, I had a
friend's family mentioned likewhy don't you just buy a single
family?
Why don't you buy a two family?
Speaker 1 (17:24):
yeah, they actually told us to buy a two family and
then we were like I mean, thisis what.
So we wish, I want to make itclear to everyone is what you
can afford yes, what matters?
How could I get?
Speaker 2 (17:33):
my foot into something in real estate.
Doesn't matter if it's a co-op,condo, single family, two,
three family.
That's what you can afford atthe moment.
It's more important is what canyou buy and afford at the
moment?
Right, of course you're goingto hear those negative comments
coming in about ah, I shouldhave got a single family, two
family.
I heard it so many times andI'm like this is what I could
afford.
But guess what?
I bought that and we continuebuying property.
(17:55):
But this is where we started at.
I always tell my wife where westarted at is like we started
from the bottom together, right,me and my wife Heidi.
And little by little thanks tofirst God we've been climbing up
, little by little.
We're still not where we wantto be at, but we're getting
there.
Just another thing.
Speaker 1 (18:11):
And it's amazing because, wait, let's elaborate
on that right on that, right so.
But so we bought a condo and itactually helped us to qualify
for our home now, which is asingle family residence, and you
know that's why, buyingsomething, you know, the sooner
you buy something, you know, nomatter what it is, if it's a
(18:31):
co-op, a lot of people, you know, underestimate co-ops, but a
lot of the co-ops, a lot youknow my clients come to me and
they're using it as additionalincome, you know, to qualify for
a bigger home.
So you know they it's.
You're never losing in realestate and don't be afraid, you
know.
If it's not your dream home yet, don't worry, you'll get there
(18:52):
you know, just just get is isimportant.
Just getting in that he said.
Just get in, get your feet wet.
See, you know if it's for you,because some people also don't
like you know the home ownershipright.
Speaker 2 (19:05):
Some people decide it's too much for them you know,
usually like the maintenance,people always complain about the
maintenance yeah, that's whyyou know everyone have different
preferences.
Whatever you know preference,you have to just do it you know.
Speaker 1 (19:16):
Yeah, and just don't underestimate co-ops and condos
because at the end of the day,it will help you.
Speaker 2 (19:24):
Any real estate will help you, yes, it feels good to
say you own something yeah, thattoo you know so it's good to
say that I own this and, at theend of the day, we're building
you know this for our kids.
For us, me and heidi more like,what can we build, uh, for our
kids?
You know, so this is what wekids for us, me and Heidi more
Like, what can we build for ourkids?
You know, so this is what we'vebeen doing trying to buy as
much real estate as possible.
We can't, right, as everyoneout there probably is too right,
(19:45):
heidi, what's one tip you wouldlike to share with buyers for
2025?
Speaker 1 (19:50):
For 2025?
Speaker 2 (19:51):
This is a big year for a lot of people, so Just go
for that house.
Speaker 1 (19:55):
You know, just just like I said, um, don't be afraid
.
Um, I know a lot of people.
It can be scary, cause it is.
You know it's.
It's a very big step.
It's a really the one of thebiggest transactions you will
possibly make in your life.
So, you know, don't be scared.
If you qualify, go for it.
(20:16):
You won't regret it.
You just won't because in realestate you're always it's always
building equity, it's like.
Speaker 2 (20:25):
I'll be honest with you.
We have sold so many homesright.
We have helped so many familiesbuy, sell homes and especially
on the buyer side, I've neverheard a buyer say to us I regret
buying this house.
Speaker 1 (20:36):
I regret doing this, I regret this house.
I regret doing this.
Speaker 2 (20:38):
I regret, and you really don't hear it.
If you hear it, you reallydon't hear none of that.
Speaker 1 (20:42):
Yeah.
Speaker 2 (20:43):
Right, especially if you have the right team, the
right sources next to you topurchase yeah, because that's
important too, right.
Yeah.
So it's like wow, so people.
You're never going to hear it,so it's like, why not do it?
Speaker 1 (20:54):
You know what I'm saying?
Speaker 2 (20:55):
It's actually so beneficial instead of going and
buying a car.
I see people buying cars,buying maxing out credit cards
and all this.
Speaker 1 (21:01):
It's nice to have cars, but, you know, make sure
you get a house first.
Speaker 2 (21:05):
Yes, guys, you know that's one thing that I did is
like I bought the house and thenI bought the car.
Speaker 1 (21:13):
You want to make sure you're comfortable, first where
you're, where you're staying,you know, so it it makes sense.
I mean, a lot of people willsee it however.
They want Right, but yeah.
Speaker 2 (21:23):
Let me ask you a question.
You know, when these clientsare in the process of wanting to
get pre-approval, or beingpre-approval, or in contract,
what are the things a buyershouldn't do?
Speaker 1 (21:32):
What a buyer shouldn't do when yeah.
So basically, you don't want tobuy a car, you don't want to
make large transactions asbuying furniture and stuff like
that, you don't want to co-signfor anyone, just because this
will come up on your credit.
(21:52):
And you know, even thoughthere's tricks and tips that we
can, as mortgage brokers, giveyou, it's important to keep your
DTI at a certain amount so thatway you can qualify.
And if you don't know what DTIis, it's debt to income ratio,
so your debt to income exactly.
Basically, it's very importantto keep it as low as possible.
(22:13):
And yeah, just don't make anylarge transactions and keep
working on your FICO score, butdon't take out any credit cards
either.
That's also another one.
Don't take out credit cards.
Don't take out any credit cardseither.
That's also another one.
Don't take out credit cards.
Speaker 2 (22:23):
Don't take out credit cards, okay.
Don't apply for credit cards,yeah.
Speaker 1 (22:27):
So basically anything that has to do with your credit
basically Wow, yeah, like don'tmess with your credit.
Speaker 2 (22:34):
One thing I would say basically witnessing and seeing
, heidi, is that you know youshould really follow what your
mortgage broker advice?
Speaker 1 (22:41):
is you want?
Speaker 2 (22:41):
this to be as smooth.
As you know, the process can bestressful, right, heidi?
Speaker 1 (22:45):
Yes, what's the?
Speaker 2 (22:47):
most stressful part of this other transaction on
purchasing a home.
Speaker 1 (22:51):
Well, it could be anything, because you know,
there's situations in whichmaybe everybody's different
right, but there's situationsthat maybe the person doesn't
have enough funds right at theend, like, let's say, the
appraisal comes in differentright, but there's situations
that maybe the person doesn'thave enough funds right at the
end, like, let's say, theappraisal comes in short right,
that's a big issue, because nowthey have to come out of their
pocket with an additional 20Kthat they don't have.
Speaker 2 (23:14):
So you know, Depending on your contract's
language.
Speaker 1 (23:17):
yeah, Basically, yeah .
So that's why I saideverybody's scenario is
different.
It's really hard to.
I would say it's more like theconditions.
Speaker 2 (23:27):
Some people get more conditions than others.
Yeah, but I don't think that'shard though.
Speaker 1 (23:31):
Because the conditions basically it's like
the bank is already approvingyou, so all you have to do is
just get them those additionaldocuments.
So it's not really.
Speaker 2 (23:39):
Some buyers get overwhelmed.
Speaker 1 (23:41):
They do.
Speaker 2 (23:43):
I think that some buyers get overwhelmed.
Speaker 1 (23:44):
They do.
I think that's yes, becausesometimes they do feel like okay
, I already submitted this, yeah, but they need more, you know.
Speaker 2 (23:48):
Explanation yeah to all those buyers like you gotta
understand, getting a huge loanyeah, you know some of you guys
are getting half a million.
Speaker 1 (23:56):
You know close to a million yeah, new york is
expensive, so yeah right, so youdo numbers, I do want to say
that.
Speaker 2 (24:03):
I want to acknowledge my wife, heidi.
She does a great job.
She's my wife, a mother of twokids.
She does a great job with mykids and she's also running her
own business.
Because she runs her ownbusiness, her own mortgage thing
Right.
I run my own company mortgagesand she's doing a great job.
One thing I have seen of Heidi,like for instance last night I
(24:26):
saw Heidi stay with a clienttill like 8, 9 pm because the
client had to work and came outaround 6, 37 pm and wanted to
get pre-approved.
One thing about Heidi she takescare of the client at 7 9 pm.
The client already qualifiedfor what was it?
Speaker 1 (24:44):
650 000 right, yeah, actually yeah, because 700 000
yes, but because they wanted tostay in a certain basically take
, take time from her family togo and take care of this client,
right?
Speaker 2 (24:56):
so I do want to acknowledge all the work she
does for our clients.
She goes beyond and sheactually puts her love.
I've seen heidi tear.
I've seen heidi, you know, butshe does for our clients.
She goes beyond and sheactually puts her love.
I've seen Heidi tear.
I've seen Heidi, you know, butshe does everything she can to
get this done for the client.
That's what I mean.
She goes far and beyond and shedoes it with a lot of love,
right?
So I do want to acknowledgewhat Heidi does for our clients,
for her own clients too.
I see how hard Heidi works.
I definitely want toacknowledge her and, guys, if
(25:17):
you need a pre-approval, reachout to my wife, heidi.
She's the best, trust me.
She works, she puts her heartinto it and you want someone
like that next to you, someonethat puts their heart and
actually been in your shoes aswell, because we've been in your
shoes, right.
I just want to acknowledge you,babe.
Speaker 1 (25:31):
You've done a great job.
I want to acknowledge you too.
You're building an empire.
You're doing well, you workhard, you work very hard.
I've seen you stay long hourstoo, you know because if you
know real estate, someone thatknows real estate is this guy.
He knows what he's doing.
So if you need your home soldin a certain amount of time.
(25:53):
He's your guy.
Speaker 2 (25:53):
We have almost a decade doing this business and I
actually, like I personally,enjoy it and I think I you know
I I love real estate so much.
Like, for instance, leviyesterday came yesterday and he
brought me a picture.
He drew me a picture and it wasfunny, what he drew me was a
house.
Speaker 1 (26:08):
A house, yeah.
Speaker 2 (26:09):
Everyone knows how much I love real estate.
Speaker 1 (26:11):
He definitely.
He cut it out and he was likePapi, I made you a house.
But he knows that his dad sellshouses and that's you know.
Speaker 2 (26:20):
I tell levi all the time and he laughs.
I'll tell him yeah, when you goto school, you gotta ask all
your friends who want to buy andsell.
Remember, your dad sells realestate.
And he just starts laughing.
He tells me no, I'm not gonnado it.
But you know, my thing is Ijust want to involve my family
because this is a familybusiness.
Right, we're trying to bestcontrol our kids and involve
them in real estate.
Hopefully they go that route,but it's their choice, right?
Speaker 1 (26:40):
one day they're gonna make their own decision.
Speaker 2 (26:42):
That so, which has been hard for me to accept you
know, as a father it's hard toaccept that, but I'm gonna have
to respect it guys, please likesubscribe any comments.
Please leave them below please.
Guys, prefer lanner heidi.
She's with who you with I'mwith gold rascal gold rascal
morgan, she's there for you guys.
Speaker 1 (26:58):
All her information will be based in new Based in
New York.
What?
Speaker 2 (27:01):
states do you cover, by the way?
Speaker 1 (27:02):
Yeah, so I'm personally licensed in New
Jersey, connecticut,pennsylvania, florida and New
York, so five states.
So if you need anything in anyof those states, I am your girl,
and if you need your home soldout here in New.
Speaker 2 (27:19):
York Buyers and sellers.
I'm here to assist you.
So once Heidi pre-approves- you.
I'll come and show you thehomes and we'll find you your
dream home and we're here forall your real estate needs.
Okay, guys, thank you so much.
Take care, guys.
Speaker 1 (27:29):
See you till next time.
Speaker 2 (27:31):
Bye guys.
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