August 5, 2025 • 37 mins
Could the American Dream lie outside the US? A number of homebuyers are looking beyond our borders not just for a retirement home or investment, but for an actual place to live. Coming up the Jon Sanchez Show at 3pm, we'll tell you why parts of the Carribean are suddenly a hot new real estate market...for middle class Americans.
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Episode Transcript
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Speaker 1 (00:06):
Good Tuesday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven to eighty k which it's
a pleasure to be with you and a pleasure to
be with my co host. The whole crew is back
in action, back in action. Let's go around the horn.
Don't wipe my lard, Highlands Mortgage. How are you, my friend?
You stay nice and cool.
Speaker 2 (00:23):
I'm doing fantastic, John Y.
Speaker 1 (00:27):
Yeah, yeah, exactly exactly, Corey Inge eviduality. How you doing,
Big c.
Speaker 3 (00:32):
I'm doing awesome as usual.
Speaker 1 (00:33):
How are you doing, beautiful, buddy, beautiful, no complaints whatsoever? Well, yes, indeed,
Well we got it all together here, guys. We've never
done a show on this topic, so I'm so excited
to let everybody know what we're going to be discussing.
So here's the question I want to or pose to everyone.
Could the American dream lie outside of the United States
(00:55):
of America? Of course, when I talk about the American dream,
what am I talking about? Talking about home ownership? We know,
of course, what a challenge it is for people to
get involved in houses for their first time, get their
first home, so on, so forth. Well, guess what, you're
not alone a number of home buyers now are looking
beyond our borders, not just for a retirement home like
we deal with with our clients a lot, but for
(01:16):
their primary residents. So what we're going to be discussing
is why parts of the Caribbean and other areas around
the world are these hot new real estate markets, not
just for the wealthy like you would think when we
talked about living abroad, but literally for middle class America. So, Corey,
before I get to the stock market side, I'm curious,
(01:37):
have you ever had any clients over the years that said,
you know what, I'm ditching the US and I'm going
to wherever, Mexico, Puerto Rico, Caribbean, et cetera.
Speaker 3 (01:46):
I've had some clients and some colleagues, believe it or not,
who have retired. Some I retired, done whatever, moved to
different islands in the Caribbean, continued their career down there
under whatever authority they happen. And so when I got
your OICK this morning, that's what I was thinking, like, oh,
that people are making plenty of money, so now they're
all summer retiring. And when I read it, I had
(02:07):
a whole different take. So I've never had anybody do
it for the reasons we're going to talk about, right,
I've had people threaten it and talk about it.
Speaker 1 (02:14):
But yeah, yes, somebody do it. Yes, exactly, how about
you do it?
Speaker 2 (02:18):
H No, I'm saying with Corey.
Speaker 4 (02:19):
I mean, I you know, people want to take off,
But the way that this is being handled, I've never
seen that before.
Speaker 2 (02:25):
So I mean it's interesting. I hope I can start
lending on that kind of problem.
Speaker 1 (02:29):
Yeah, yep, yep. Well I'll tell you what. I'll give
you a brief story. So I went through a phase
I don't know what it was, a couple of months ago.
I guess it was where I was contemplating I started
my research on getting somewhere down on Cobo right love
Cobbo for the fishing and so on and so forth,
and so it started, you know, once the course, you know,
(02:51):
as we all know, once you get on a website,
you know, they garner your information because now you can't
look for any properties down there unless you give them
your email. So of course we all know what happens there.
So all of a sudden, I'm inundated with properties for
sale down in Cabo. And you know, okay, I mean,
so many, so much more expensive than what I thought.
But what it ended up happening, Dwight was a gentleman
(03:15):
did a webinar who is a lender. He's actually, gosh,
where is he based? I think in Texas or somewhere
somewhere like that, not in California, but for one of
your major competitors. I won't say what it is, but
he's a you know, pure American guy. But he lends
his large company that starts with a G. You know,
(03:36):
it's what I'm talking about. They lend on these Mexican properties,
and I was I was shocked. I had always thought,
you know, in years past, that you had to hire
or you know, you'd borrow money from a Mexican bank
and so on and so forth. But no, we now
have US lenders that are going down there. So you know,
there's your dream come true. That will that will that
will you know, suffice for you to get that big
(03:57):
yacht to head down there, or you know, a private
plane or something, because I think you do a lot
of business down there doing.
Speaker 4 (04:01):
I'd love to set up an office in the Caribbean yep,
overlooking the ocean.
Speaker 1 (04:06):
That's there, you go, that's yeah, me too, me too,
exactly wash your new boat or something. I don't know,
figure something out, but no, it's folks, in all seriousness,
it is very feasible. And we are getting a lot
of people I've had, I probably get i'd say probably
two to three clients throughout the year that that decided
(04:27):
to move. Most of them tend to be Mexico, Puerto Rico, uh,
some of those type of places. And you know, obviously
Puerto Rico being obviously part of the United States, there
is some very very favorable tax treatments for especially business
owners going to Puerto Rico. Housing very affordable. Of course,
you always have downsides, right, nothing is perfect. They always
(04:48):
have the electricity issue down there and things. But but
I think as time goes on and again, as our
prices continue to escalate, not saying the rest of the
world is not going to catch up a little bit,
but you know, we we We were just discussing with
a dear friend that he went down on a trip
recently down into the Caribbean, and he's like, I am
shocked at which you can get for two hundred and
eighty thousand dollars, you know, a beautiful, beautiful home and
(05:11):
so yeah, it's it's definitely feasible. But you know there's
always I know, like on the Mexico side, when I
started researching that it does get very challenging as far
as knowing how to you know what ownership and titling
and who really owns what, And that's what scared me
away from I didn't I didn't like the way that
things are. Things are set up in Cabo, and we'll
say in Mexico in general, as far as you know
(05:33):
the ownership and so on and so forth, and you
have to set up a trust. It's there's a lot
of things, so you absolutely need professionals. But you know,
we all see, of course darting political times, especially people
go oh, you know what, I'm done with the US.
We've seen a lot of movie stars when Trump got
elected decided to head overseas. So there's a lot to it.
You got tax considerations and citizenship, et cetera. But for
(05:55):
those that are interested, this is gonna be a real
interesting topic for them. It will be all right, Well,
let's get the stock market side of things out of
the way. Today, Man, what an interesting session it was today.
You know we had this how'd you like that? Those
numbers yesterday, guys, I mean, what a blowout in the market.
You know, five hundred and eighty five point game yesterday
on the Dow. NASDAK got four hundred and three, pretty
(06:18):
much made back most of the games, all of them
on the Dow, from the loss on Friday. And then
of course Nasdaq and the sp came close to recapturing
most of the losses from Friday yesterday. And then, as
I said on the show last night, you know this
was when you have these big run ups for really
not any specific reason. It's always you got to be
careful about these shortcover rallies, right, Those are the professional
(06:40):
traders that have shorted the market, Like on Friday, maybe
they made a lot of money. They come into Monday
and they go, oh, things aren't as bad, so they
got to start buying those shares back. That drives the
market up. That's always one consideration. So you never know,
and you never get, you know, too excited about a
one day lost, and never get too excited about a
one day gain. And today we just kind of floundered along.
The Dow was under pressure for most of the day.
(07:01):
We had a video down, a bit down, two dollars
and ninety eight cents, sales forced down four dollars and
eighty two cents, and United Health led the pack, which
is quite unusual. Usually it's at the bottom. But it
had a good day to day, up about nine dollars
and seventy one cents, four percent gain to two fifty
sixty nine. But there was also one other thing that
happened today, and we had at seven o'clock things kind
of change, and we had what's called the ISM Service Report.
(07:23):
And I know, Corey, you watched this one service the
ISM Service Report. Remember the key here is you want
a reading above fifty that show's expansion in the service
side of the economy. Well we got that fifty point one,
but what the traders looked at was okay. In the
month of June the reading was fifty point eight, so
it dropped seven basis points from the previous month. Wallster
didn't like that, and so therefore, as soon as that
(07:43):
report came out at seven o'clock, we started to see
things begin to dip. And we spent most of the
day either and you know, pretty good losses on the
dow side of things, and modest gains on the on
the dow side. NASAC was just kind of ho hum.
Once it started selling off, it never really recovered, and
so you know, they're really wasn't a lot to today's action.
Palantaier Technology was a big winner, they reported after the
(08:05):
closed yesterday, finished the day up twelve dollars and sixty
one cents, about seven point nine percent to one seventy
three twenty seven. It was interesting, Corey, did you or
either of you, did you guys happen to see that
interview with Trump this morning on CNBC?
Speaker 3 (08:17):
Tippy Kitchen was alive, but I watched some replay a
lot of it, right.
Speaker 1 (08:22):
Yeah, yeah, yeah, yeah, it was. It was very interesting. Man.
I feel sorry for the for the host on CNBC, Corey,
because you know, they asked him one thing and he
goes boom over to this side, boom over to the
web side, you know, just back and forth, and they
had to keep trying to corral him to stay on
the subject. But he said that, you know, he may
be announcing a replacement for FED Governor Coogler, who on
(08:46):
Friday said that she was stepping down. Also possibility whoever
fills her seat will eventually be nominated for FED share
So that's going to be the interesting one. Now. The
other thing he mentioned that the market's kind of set
up in their chairs about Scott Missent, our current Traine
Secretary of Wall Street guy, he was rumored to maybe
be on that list who replaced Jerome Powell. Assent came
out today and said he told the President, I don't
(09:08):
want to be the chairman of the Federal Reserve. Nope,
don't want to do it. So he's off the list.
So we will see what happens. You got a director Hassett,
Kevin Hassett, and a few others. But I think we'll
probably be hearing something in the next few months. Who's
going to fill that vacant?
Speaker 2 (09:25):
Was that resignation strategic design?
Speaker 1 (09:29):
You know, it's hard to tell, Dwight. You know it
was resignation slash firing day on Friday when this happened.
You know, why why did she do it all of
a sudden? Why did she resign from her position on
the board. And that that literally came, if I remember right,
fifteen maybe thirty minutes of the time window when Trump
(09:50):
announced that he was going to be hiring firing the
head of the Barreau of Labor Statistics, the organization, government
organization that produces the non farm peraile numbers, which the
numbers were crappy. There's no way to sugarcoat. They were
allousing numbers on Friday, and he immediately put the blame
on her and fired her right on the spot. And
then you saw this, So yes, I to me, do
I you know, just talking you and I and a
(10:11):
few friends, I would think that it was strategic because
that opens up with her resigning and it's effective, I
think on the eighth so here in a couple of
days with her resigning. Now remember he can appoint, but
he can't the person that he appoints. They still got
to get cleared by Congress, which I mean Republican led
(10:32):
Congress should be no problem confirming them unless they have
a really bad background. But to your point, yes, I
think behind the scenes, in my opinion, it was something
that was planned because now he can put whoever he
wants in there. He's the analogy I gave on the
show on Friday, and I think you guys would agree
with this. What I'm saying with the president is it's
almost like a corporate takeover, right. He is the acquire war.
(10:55):
He's searching right now who he wants to acquire? Well, guys,
what happened? And you know, if Corey Dwight wants to
take over your company, what does he do? He makes
an offer and then he buys you. And then what's
the first thing that he does? He starts putting his
own people on your board. Right, you're still around, Dwight, Right,
You're still around. But Corey starts putting people on your board?
Why to persuade the rest of the board members that
(11:18):
the way Corey wants to do things, this is the
way it's going to be done. Trump's no different. He's
trying to insert people in key strategic positions in the
FED so that you have a really a Donald Trump
control FED, which many of course do not want. But
this I think would be the first step. So you figure,
if he has that, he's got his own his Treasury secretary,
who's his right hand man. He's he's starting to do
it pretty, you know, pretty handsomely. What do you think
(11:41):
of that?
Speaker 2 (11:41):
I mean, And it'll be interesting as pick because it's
going to be a true friend.
Speaker 4 (11:46):
Yes, the financial arena, I mean, yes, I don't know
who it'll be with the set saying no, but yeah,
I to me, it just felt like this is all
Timing's perfect to get somebody.
Speaker 1 (11:57):
In there for it really is it really is? All right,
we come back, we'll tell you with this market day today,
we'll hit the commodity, the interest rate, the mortgage side
of things. Then we're going to get into our topic,
is the American dream outside the US of Corean Dwighton's
turned it over to Kristin snow right now Traffic Center.
Hey Kristin, welcome back to the John Sanchez Show on
(12:31):
News Talk seven eighty k O. Wait to the coryage
Vegerility and of course the White Mallard of Highlands Mortgage.
All right, before we get to our topic again, is
the American dream outside of the United States. We're talking
home ownership. Let's study what happened on the market and
then hit the mortgage side of things. We finished down
sixty two on the Dow forty four thousand, one eleven
again wide range today forty four thousand and three oh
eight was our top. Forty three nine twenty three are low.
(12:55):
Nazek lost one thirty seven point five five percent, SMP
down thirty one points er point four nine percent pull
back a dollars seventeen on oil price level sixty five eleven,
gained eight dollars and ninety cents on gold three thousand
and four to thirty five forty an ounce, And Millard,
we don't get this very often, a big old goose
egg on the ten year treasury four twenty one. How
do we do on the mortgage side of things?
Speaker 2 (13:13):
Yeah, that's sitting good.
Speaker 4 (13:15):
This is the back to school special right now. The
thirty year fixed rate, according Mortgage News Daily, six point
five eight. The fifteen years we actually predicted last week
five point nine to three on the fifteen.
Speaker 1 (13:29):
Year, So yeah, look at that. Yeah we did break that.
Speaker 2 (13:33):
There we go, faha, six point one nine.
Speaker 4 (13:35):
So, I mean we're headed in the right direction, I'm
afraid to Corey's point always is that we may be
a little bit late to the party now with these rates.
What do you mean, well, with the season kind of
you know, the big buying season is behind us, you know,
but I think it'll get some people out of that
would work for sure. I mean you're already starting to
(13:56):
see a little bit of a more activity. I hear
rates are coming down. Rates are coming down, right, good.
Speaker 1 (14:02):
Number, Corey, How important is uh yeah, is sub six
now on this fifteen. I know a lot of people
don't do this the fifteen, but hey, it's at least
one one of the maturities are there.
Speaker 3 (14:13):
It's it's all past. Because we've talked about it's been stagnant.
It still is stagnant. I'm still getting emails with open
houses and price reductions and now they call them price improvements.
And right before I left to do this, they had
a I think the email what's labeled a huge price reduction,
you know what I mean, Like they're starting to get
more and more. And so even when these rates come
(14:35):
down like over the last two weeks, it doesn't turn
the ship right away, but it helps right turn the ship.
So anything in that positive direction my caveat. And I
don't you know, I don't ever want to be the
one who who you know, goes towards the bad side.
But if the rates are coming down because people don't
have jobs, then forget it, right that you've got a
huge problem.
Speaker 1 (14:56):
Yeah, absolutely, well you brought this interesting point, Corey. On
the job side, right, everything is hinged on jobs. And
that's why, according to Trump, that he fired the head
of the BLS said, you know, basically, these numbers can't
be right. But I think the numbers are and it
was funny they I don't know if you guys saw
that interview yesterday with the former Labor secretary under the
(15:16):
Biden administration. She's like, there is no way, and you
know that that anybody can manipulate these numbers. She says,
there's as they get. I think within a week of
the numbers being released, she said there's forty five people
that are only forty five people that have access to
these numbers, and she says, the way the system is designed, etcetera,
it can't be manipulated. Right. So so I think the
(15:37):
week jobs report were received, I think it's legitimate numbers.
I really do. As much as i'd hate to say,
you know, this former Biden appointee was the culprit to
the numbers. I think in reality we're going to find
out those numbers were real and things are slowing down, right,
just as you've said, Corey, you know the price reductions
and so on and so forth, So you know, it
is what it is.
Speaker 2 (15:56):
It is the revision, John, do you see a revision
coming off the Steven.
Speaker 1 (16:00):
No, I don't know. And that was the problem on Friday,
Dwight is you know we got a revision for May
and June of geez well, it was north of two
hundred thousand jobs that were wiped out. And don't forget
in September is when we get that annual revision. Remember
when that happened last time where they wiped out about
a million jobs, they had said we're created over twenty
twenty four, So you got that right around the corner.
(16:22):
So they're basically, you know, kind of sitting on pins
and needles at this point. But you know, guys, we're
chatting off there, and you know, I was mentioning that
I brought my brother, doctor Dennis Sanchez on the show.
We started this new segment on Mondays. His specialty is AI.
Wrote his thesis on it, and that's what he does
for a living, teaching corporations and things about AI and
(16:43):
so many elements of it, more so on the mental side.
But you know, we did a show yesterday and invite
all of you to pick up our podcast from it,
indicating that it's very very difficult, Dwight, And I'm going
to look at you first because of the qualifying very
difficult for college graduates nowadays to find jobs because so
many the entry level positions now are not no longer
there because AI is taking them over. I had quotes
(17:05):
from Amazon and also JP Morgan and many others saying,
look at we don't need this entry level group anymore
because AI does it. And so what I'm wondering is
what kind of pressure Corey and Dwight could that be
putting on the first time home buyer's market, right, that's
your typical first time buyer, the one that's getting out
there getting a job for a year or two. Well, boy,
I'll tell you what. Read the stories that are out there.
(17:26):
It is a hard jobs market for a young person
trying to get that foot in the door. Do you
see that at all? You know, qualifying wise, Dwight and Corey.
Speaker 4 (17:34):
Well absolutely, John, I'm even seeing hours being cut right now?
Are you trying to redirect the resources? So it's a
it's an interesting times because we've talked about it. AI
is here and it's coming fast, and it's going to
eliminate jobs out Whether do it creates others in other areas.
(17:54):
I mean, we'll have to wait and see. But you're
you're right, these these these college students come right out
of college. It's tough right now, you.
Speaker 2 (18:03):
Talk to any of them, it's tough.
Speaker 1 (18:05):
How about you? What do you hear?
Speaker 3 (18:06):
Yeah, snippets of it. I haven't I haven't seen a
huge difference in it yet. But even talent here, if
you listen to their stuff, or he was going on
about how much their bottom line is going to go
up and the profit margins going to go up, but
they're reducing their their staff by I don't remember what
the percentage was all attributable to AI. So I kind
(18:27):
of agree with Dwight. I mean, I'm sure people will
go somewhere, they'll figure something out, but it does make
make everything nervous, and especially around here there's a lot
of blue collar obviously, the warehouse and the workers, the
you know, big in the lithium mines, these kind of things,
and so those warehouses, I mean, I don't know if
last time you ever been in one of these newer warehouses.
They are amazing, and they are built to not have
(18:48):
humans in them. Well, eventually they will not have humans.
Speaker 1 (18:51):
I heard some stat about how many excuse me, how
many humans now run an Amazon you know, million square facility.
It's like not much. I mean, it's mind boggling because
you said it's all being done by robotics and AI
and so on and so forth. So you know, our
conclusion sounds like you're saying the same thing, Corey. Our
conclusion on the show was, you know, those that choose
(19:12):
a profession where they're using their hands probably going to
be safe as far as AI is concerned. But you know,
anybody else, you know, learn as we keep emphasize learn AI,
make it your friend, be valuable to your employer, and
understand it because it is coming for everybody. But court,
real quick before we go to break, So what can
happen if we don't have this first time buyer market? Right?
(19:34):
I'd love for you to maybe look at some stats
and see maybe over the last few months or something,
you know, if this group is starting to slow down,
because obviously the way I look at it, and this
is why I want your opinion. If we don't have
you know, the first time buyer for call it property A,
then the owner, the current owner of property A, which
was their first home, can't move to property B. Right,
(19:55):
a little bit bigger and a little bit more expensive
housing then can't move to property C and so on
and so forth.
Speaker 3 (20:00):
Yeah, what do you think they're Yeah, yeah, the dominoes
at the beginning of a domino doesn't start to fall right, right,
But typically those people are still around, so they'll become renters.
They'll right have something else. So maybe an investor buy
that house. But I'll have to look through our stats
and see if there's a way to hone in on
it other than Duke could probably be helpful because FAJA
loans a lot of times are first time buyers. Certain
(20:21):
price points a lot of times are first time buyers.
Speaker 1 (20:24):
Yeah, okay, I mean it's.
Speaker 2 (20:25):
Just right off the top, John, you're probably that's thirty percent, right, Yeah.
Speaker 1 (20:28):
Yeah, yeah, I agree, right, I would think so perfect.
All right, when we come back, let's go overseas US
if we can do some real estate deals overseas, right,
is the American dream outside the US? Is it the
new one? Well, we'll talk about it when we come
back with Cory Dwaight sturned over to Jack Saban. He's
got news trafficking weather. Hey Jack. Back to the John
(21:00):
Sanchez Show on Newstalk seven eighty koh with Corey edge
Vege related Dwight Millard of Highlands mortgage. All right, once again,
we finished down sixty two on the Dow, lost one
thirty seven on the Nasdaq, and at decline of thirty
one on the S and P five hundred. But now
let's talk about making your American dream home ownership become
a reality. So our topic today really goes towards for
those of you that maybe a first time Biden. You're like,
(21:21):
I can never afford on my wages, et cetera, to
buy here in the US. For those that maybe want
to have dual citizenship, get out of the country part time,
part of the year. A lot of people do that
one or any combination thereof, or as we'll share with you,
some of the people are just saying I don't want
to be in the US for various personal reasons, various
political reasons, et cetera. So I just want to read
(21:44):
this from this article from real litter dot com. Scroll
through the listings in Antweet, Antigua or Saint Kits and
you're going to find more than ocean views and infinity pools. Increasingly,
highend homes in the Eastern Caribbean come with something else,
a second passport from not yet Dyce in a real
estate agent based in Antigua and owner of luxury locations.
She says, we've never seen demand like this before. So
(22:06):
she tells reloader dot com. She says, right now, ninety
nine percent of our buyers are looking for properties that
qualify for Citizenship by Investment. It's not just about the
lifestyle anymore, it's about having planned b Now, there's five
countries in the region, Antigua, Barbuda, Dominica, Grenada, Saint Kitts
and Nevis and Saint Lucia which offer official Citizenship by
(22:26):
Investment what they call CBI programs. Now here's how they work.
Buyers can secure a passport in exchange for purchasing qualifying
real estate, typically starting around three hundred thousand. According to
the agent. These passports grant visa free travel to as
many as one hundred and fifty countries, including most Europe
and the UK, and allow dual citizenship. And in a
(22:48):
year mark by rising political divisions and cultural unease in
the US, that demand is surging. So, you know, guys,
this article goes on to talk about, you know, you
can buy an ocean view home, swimming pool, blah blah blah.
You know, three hundred thousand but really there's a lot
of other things to take care of. So Corey thought
was a client of years, and I said, all right,
(23:09):
I'm done with the US. And I had this happen
with a client a couple of years ago. I'm done,
and I won't go to the reasons why, but I'm done.
This person moved to Mexico City. How would you used
to start looking for dealing with real estate in another country,
because it's a different animal. It sounds really nice, but
it's a different animal.
Speaker 3 (23:27):
Well, first we would have to get on a plane
and go investigate myself and make sure it's a nice
place to live. Obviously, that's number one. I mean, really, John,
I think it's just like when clients call me and
they want to go to different states or even different
parts in the that I topical war license all over
the state. But I'm not going to represent you in Vegas.
I don't know Vegas. So it's took like you're going.
Speaker 2 (23:47):
To leave the country.
Speaker 3 (23:48):
Well, now we have to go find somebody hey over
there that we can trust. But hopefully someone here who
has done the process that we can talk to and
kind of get to know it first. Because and I
almost said I don't want to say too good to
be true, but you're telling me you get all that
for three hundred thousand dollars. That seems like a pretty
dang good deal, especially.
Speaker 2 (24:07):
Mortgages on them.
Speaker 3 (24:07):
So I'm not saying there's a catch to it, but
you want to know what all the ins and outs are, right,
what happens, and if you need to sell it or
undo it.
Speaker 1 (24:15):
So well, you know what's interesting is do I from
a qualifying standpoint, these and to your point, Corey, these developers,
whether they're you know, I'll use the term local, I
mean within the country or I mean you've got a
lot of you know, the the high end hotels at
the highest et cetera, that are going to many parts
of the world and building these luxury resorts, and you know,
(24:37):
they put their name on it, and it's kind of
like Trump put your name on it, and people are
going to buy no matter where it is, right. But
then you got these local developers. I think that's where
you've got to be very careful. We all know that
Mexico is very famous for oh, we're gonna offer this
and and sign here and give us your deposit and
we're going to break ground. In six months, and you
know that never happens, so, uh do I You know,
(24:59):
if I came to you and let's say you were
licensed with your your company to sell in another or
to offer a mortgage in another country, you got to
really become an expert in that area of how the
whole banking system works, because again, researching it in Mexico,
it is a completely different animal.
Speaker 2 (25:17):
Yeah, John, and I can.
Speaker 4 (25:18):
Only imagine there's probably a significant difference between what is
a standing and what's being built, you know, I mean
from you are you required to get inspections? Right?
Speaker 2 (25:29):
You know, what are the what are the criterias to
be able to lend American money?
Speaker 4 (25:34):
I guess to afford you know, to a different country,
right and play by their rules.
Speaker 1 (25:41):
You know.
Speaker 4 (25:41):
What quickly came to my mind, of course, is what
we say we have upwards of almost sixty trillion dollars
in equity or something. I mean, that would be almost
a nice little you know, if these rates go down again,
you always pinned up this equity, be able to convert
that and pay cash for it. Still to look at
the laws in the way that goes. But I think
(26:02):
lending gets a little tougher look how tough it is
in the United States.
Speaker 1 (26:05):
Oh yeah, right, exactly.
Speaker 4 (26:06):
Yeah, imagine now over there, and everything's got to be
shifted to remember, by some sort of ship a lot
of times, right, I mean, you got it goes in containers.
Speaker 2 (26:14):
You can't get a couch or up.
Speaker 1 (26:17):
You know, things don't move very exactly exactly they did.
Speaker 3 (26:21):
And I'm sure you already know it, Tom, but you
were mentioning Cabo earlier. And I do have a couple
of friend slash clients that own a couple of places
in Porto Barta. And then another friend is somewhere down
on the peninsula, but they have title companies there and
I won't mention it, but the biggest ones in the
USA are also down there, some semblance of title insurance.
(26:41):
And I would assume, and Dwight would probably know. I
don't know if you can lend down there because you're
getting a title pulse he or maybe they.
Speaker 1 (26:48):
Can, you can, That's what I'm saying.
Speaker 3 (26:50):
This.
Speaker 1 (26:50):
This gentleman that did this webinar, he's a he's a
big hit, heavy hitter down there in Cabo Corey and
he he's he doesn't live down he travels back and forth,
but he's based with one of the large lenders here
in the US. A company starts with the letter G
if you know what I'm talking, we'll.
Speaker 2 (27:04):
Start researching that John and become very proficient.
Speaker 1 (27:06):
In the core. See there you go, there you go
absolutely well. You know, in all seriousness, guys, we've seen
a lot of businesses that have that have moved their headquarters.
Let's again say Puerto Rican Again, I don't want to
hear any criticism that. You know, it's not a foreign country,
I know that, but it acts like it, you know,
but significantly lower and I got it. I'm not going
(27:29):
to say the numbers because I don't remember that, but
significantly lower personal tax rates, corporate tax rates. And again
the dollar just buys you ten times what it can
here in the US. And again you're you're you're looking
over the ocean and so on and so forth. But
but I think you know, the point that we want
to get across is do your due diligence, right Corey.
(27:49):
I mean, if you are frustrated here, folks, this is
again I'm going to come back. I'm going to circle
back to this AI and not to sound like a
broken record, but there is no reason that anybody eight
these days should be unemployed on for you're a new
college graduate or whatever, or be stuck living somewhere that
you don't want to live, because all you have to
do right now is find an employer or better yet,
(28:10):
build your own business somewhere where you want to be. Right.
I've tried to do that myself, and let me tell
you there's nothing better. I read a great article yesterday
and I forget which bank. It was some some bank,
Midwest Bank. Oh, Standard Charter, That's who it was, Standard Charter.
And the CEO, you know, Gray Hair, been around a
long time. He's like, we're not We're all adults. He goes,
(28:31):
we're not making all of our employees come back into
the into the branches and stuff like that. He says,
we're all adults. Their survey of their employees like ninety
nine percent of them are happy and you know, productive
and everything else. Then you got the other side, like
JP Morgan and some of these other big banks like no,
you're back in the office. I you know, we did
so many shows during COVID about that whole scenario. I
(28:52):
think again, take control of your destiny. If you want
to live in the Caribbean and make a business on
YouTube or wherever you want to do. It can be done.
I think we just have to open up our minds
now and say, what's the technology out there? What is
it I want to do? Where do I want to be?
And make it a dream. I mean it's it's it's
all possible. There is no excuse anymore.
Speaker 2 (29:14):
I'm john to your point.
Speaker 4 (29:16):
You know you got starlink, you got different areas ticket,
I mean, you can stay connected. What I found fascinating
in this was the citizenship by investment.
Speaker 1 (29:26):
What yeah, what a concept?
Speaker 2 (29:28):
Is the sweetener to the deal. It is in a
great house. You know, that's just a sweetener. You get
another citizenship.
Speaker 1 (29:36):
Well, you know we saw that remember during COVID, guys,
how many I think it was your old stop a
grounds Corey, South Carolina. I remember some little towns there
were like, hey, we'll give you it was pretty good
chunk of money I think fifteen twenty grand if you
come here and relocate and stuff. So really no different.
They're swapping passport for commercial or investable dollars. And here
we were saying, let's swap money for people to come
(29:57):
and buy real estate and so on. And so forth,
so differ than we do with our corporations. Right, how
much money did we give Elon Musta to build a
giga factory. It's all there. So I just I just
think it's a great fun topic to think about and
again encourage especially those of you that are young, have
really no ties to the US or something. I'm not
saying give up your citizenship, but go down there and
(30:18):
try it. Go down and rent for a while. I
have a lot of retirees that go down there. They
just rent for six months or a year and they're like,
I really like this all right, now, I know what
areas I like, and they buy. I've got one guy,
you know, mid level or mid age, middle aged couple.
They left Reno. They went to Mexico City, like a
really small area. Just talked to him about a month ago. Absolutely,
(30:40):
they've been down there like three years, like we're never
coming back. We are never. They come back and visit
for doctor visits and stuff, like we love it down here.
Low cost. The house that they bought for next to
nothing has gone like double in value, triple and value
in the last few years. So you can make money.
You can make money. You gotta do it all right,
let's wrap it up. Speaking of making money, Let's see
if she can make us some money by keeping us
safe on the highways. And that is of course Kristin
(31:01):
snow right now traffic center. Hi Kristin, Welcome back to
John Sanchez Show on News Talk seven to eighty k
O wait with Corey individual really to White Mollards of
Highlands mortgage phone.
Speaker 2 (31:20):
Number please two four zero two zero two two.
Speaker 1 (31:23):
Thank you, sir, mister edge six seven three six seven
zero zero beautiful. Thank you, fellows, do appreciate it. All right.
We've been discussing again is the American dream meaning home
ownership now outside the US. So let's kind of wrap
things up, guys. I want to run through some things
I've thought about as far as the pros and the
cons of buying or broad So I think you know
(31:43):
the first pro not that these are any priority, but
the first pros we said, going to break favorable residency.
You buy in some country, they're going to give you
a residency, citizenship, et cetera. Obviously, the potential cost savings.
We all know that in most parts of the world
it's much cheaper to build. Of course, you may be
giving up a little bit of safety and things like that.
But you know, again this is all part of your
due diligence. So we got the big cost savings. We're diversifying, right,
(32:07):
We're in other parts of the world. There's nothing wrong
with that. Great for retirement. Like I said, I've had
a number of clients, as I was sharing with you,
that have decided to completely move out of the US
or they go there six seven months out of the
year and then they downsize and keep a little condo
and reno or something to stay, you know, us slash
Nevada residence, and they love that lifestyle. If you're businesses,
(32:27):
like I said, you got access to new markets. You
got to remember, especially you start going down to you know,
like the Puerto Ricos of the world and the ones
that you know have development but still quite a few
years behind us. That's why you're seeing a lot of
these crypto companies. I was starting to say this, guys,
a lot of these guys that start these crypto companies,
they're moving down to Puerto Rico because there's so much
(32:48):
money down there, you know, people retiring, et cetera. But
also the favorable tax treatment. So you know, let's just say,
access to new markets for the for the entrepreneur. The downside, boy,
you better learn this one. The legal and the bureaucratic complexity. Yes,
that can, that can really sway things. Yeah, political and
economic risk. I think I shared this story a while back,
but my wife's best friend was getting is getting married
(33:10):
in October down and I think that's Cancun, and we
were supposed to go, and with all this issue with
tariffs of Mexico and everything started, I said, we're not going.
I'm not taking a chance. I just at that part
makes me very, very nervous. So you always have that
political and economic risk. Corey. The property management challenges, well,
we think it's a problem or a challenge managing the
property over in sparks when you live in Reno. Imagine
(33:31):
that managing went to Mexico over the Caribbean, right.
Speaker 3 (33:34):
Well, and that's where you got to find those local
people out of doing it. I gotta be careful all
the fees. We're used to paying five to eight percent
here for local stuff, but they will charge when we
ran a company like that, twenty fees management fees because
they turn over so much. So, yeah, you just got
to know all the stuff but I just I don't
know one of the pros. It sounds fun right.
Speaker 1 (33:55):
Right right right? Oh yeah, no doubt about that.
Speaker 3 (33:57):
Yeah, I'll tell you a real quick story. Oh sorry,
one of dwight guys that used to work for I
ran into him a few years ago and his wife
has passed away. We got to talking. He goes, I
want to sell the house. So I saw this house.
He took his money, went to Costa Rica. He said,
I haven't served in years. He served until he ran
out of money and came back and got a show
it back a time.
Speaker 4 (34:18):
I love it.
Speaker 1 (34:19):
I love it. That's yeah, that's what it's about. That's
what it's about, No doubt about that. Yeah, Costa Rica
is another one. I've had a few clients, uh go
down and move down to more more on a part
time basis. But yeah, they love it and they love
how far their dollar goes. Another negative again, Dwight. The financing.
So what's your wrap up advice on the financing side
(34:39):
of things.
Speaker 4 (34:40):
Yeah, I think, like like Corey said, to talk to
somebody local. There are people that specialize there kind of
know what the money you know plan is, you know,
does it and and if they loan there.
Speaker 2 (34:52):
Just know the terms.
Speaker 4 (34:54):
You know, you don't want to get caught off guard,
and you know any way, shape or form, So really
do your diligence. There's got to be lots of resources
out there.
Speaker 1 (35:03):
Yes, yes, know the terms. And after what you guys said,
understand who holds the title, the length of time you
have the title, because some countries you're essentially almost renting.
It's like ninety nine years that you can have it,
and there's a lot of rules. What I found I
was researching Cabo. I found a really good agent who
(35:23):
came from America, so obviously there was no language barrier,
but she'd been down there for like twenty five years,
knew everything about it, right, I mean Dwight, I mean Corey.
Aaron has shared some great storce. He loves going down
in that Cabo area, right, writing quads on the beach
and some of that simplistic stuff. So yeah, it's all there.
And then obviously the cultural language barriers, but again it's
(35:45):
either a positive or negative. A lot of people want
to learn a new language, learn a new culture, and
then then they can go with that. So all right, grace,
great job, guys. We do appreciate it, We'll do it
again to more on The John Sanchez Show. God Let's
have a great afternoon. Dwight Mallard nmlsid number two four
one two five nine a license mortgage loan officer with
(36:08):
Highlands Residential Mortgage Limited and Equal Housing Lender NMLSID Number
one three four eight seven one. The information shared on
this live broadcast is for general information purposes only and
does not constitute financial or mortgage advice. Listeners should consult
directly with a license mortgage professional for guidance tailored to
their specific situation. All loans are subject to credit approval
(36:29):
and program guidelines. Not all applicants will qualify. Loan terms
in availability may vary by state and are subject to
change without notice. Highlands Residential Mortgage Limited is licensed in
multiple states. For a full list of state licenses and disclosures,
please visit https slash slash www dot Highlandsmortgage dot com
backslash licenses backslash. The views expressed during this program are
(36:52):
their own and do not necessarily reflect those of Highlands
Residential Mortgage Limited.
Good Tuesday afternoon to you. Welcome to the John Sanchez
Show on News Talk seven to eighty k which it's
a pleasure to be with you and a pleasure to
be with my co host. The whole crew is back
in action, back in action. Let's go around the horn.
Don't wipe my lard, Highlands Mortgage. How are you, my friend?
You stay nice and cool.
Speaker 2 (00:23):
I'm doing fantastic, John Y.
Speaker 1 (00:27):
Yeah, yeah, exactly exactly, Corey Inge eviduality. How you doing,
Big c.
Speaker 3 (00:32):
I'm doing awesome as usual.
Speaker 1 (00:33):
How are you doing, beautiful, buddy, beautiful, no complaints whatsoever? Well, yes, indeed,
Well we got it all together here, guys. We've never
done a show on this topic, so I'm so excited
to let everybody know what we're going to be discussing.
So here's the question I want to or pose to everyone.
Could the American dream lie outside of the United States
(00:55):
of America? Of course, when I talk about the American dream,
what am I talking about? Talking about home ownership? We know,
of course, what a challenge it is for people to
get involved in houses for their first time, get their
first home, so on, so forth. Well, guess what, you're
not alone a number of home buyers now are looking
beyond our borders, not just for a retirement home like
we deal with with our clients a lot, but for
(01:16):
their primary residents. So what we're going to be discussing
is why parts of the Caribbean and other areas around
the world are these hot new real estate markets, not
just for the wealthy like you would think when we
talked about living abroad, but literally for middle class America. So, Corey,
before I get to the stock market side, I'm curious,
(01:37):
have you ever had any clients over the years that said,
you know what, I'm ditching the US and I'm going
to wherever, Mexico, Puerto Rico, Caribbean, et cetera.
Speaker 3 (01:46):
I've had some clients and some colleagues, believe it or not,
who have retired. Some I retired, done whatever, moved to
different islands in the Caribbean, continued their career down there
under whatever authority they happen. And so when I got
your OICK this morning, that's what I was thinking, like, oh,
that people are making plenty of money, so now they're
all summer retiring. And when I read it, I had
(02:07):
a whole different take. So I've never had anybody do
it for the reasons we're going to talk about, right,
I've had people threaten it and talk about it.
Speaker 1 (02:14):
But yeah, yes, somebody do it. Yes, exactly, how about
you do it?
Speaker 2 (02:18):
H No, I'm saying with Corey.
Speaker 4 (02:19):
I mean, I you know, people want to take off,
But the way that this is being handled, I've never
seen that before.
Speaker 2 (02:25):
So I mean it's interesting. I hope I can start
lending on that kind of problem.
Speaker 1 (02:29):
Yeah, yep, yep. Well I'll tell you what. I'll give
you a brief story. So I went through a phase
I don't know what it was, a couple of months ago.
I guess it was where I was contemplating I started
my research on getting somewhere down on Cobo right love
Cobbo for the fishing and so on and so forth,
and so it started, you know, once the course, you know,
(02:51):
as we all know, once you get on a website,
you know, they garner your information because now you can't
look for any properties down there unless you give them
your email. So of course we all know what happens there.
So all of a sudden, I'm inundated with properties for
sale down in Cabo. And you know, okay, I mean,
so many, so much more expensive than what I thought.
But what it ended up happening, Dwight was a gentleman
(03:15):
did a webinar who is a lender. He's actually, gosh,
where is he based? I think in Texas or somewhere
somewhere like that, not in California, but for one of
your major competitors. I won't say what it is, but
he's a you know, pure American guy. But he lends
his large company that starts with a G. You know,
(03:36):
it's what I'm talking about. They lend on these Mexican properties,
and I was I was shocked. I had always thought,
you know, in years past, that you had to hire
or you know, you'd borrow money from a Mexican bank
and so on and so forth. But no, we now
have US lenders that are going down there. So you know,
there's your dream come true. That will that will that
will you know, suffice for you to get that big
(03:57):
yacht to head down there, or you know, a private
plane or something, because I think you do a lot
of business down there doing.
Speaker 4 (04:01):
I'd love to set up an office in the Caribbean yep,
overlooking the ocean.
Speaker 1 (04:06):
That's there, you go, that's yeah, me too, me too,
exactly wash your new boat or something. I don't know,
figure something out, but no, it's folks, in all seriousness,
it is very feasible. And we are getting a lot
of people I've had, I probably get i'd say probably
two to three clients throughout the year that that decided
(04:27):
to move. Most of them tend to be Mexico, Puerto Rico, uh,
some of those type of places. And you know, obviously
Puerto Rico being obviously part of the United States, there
is some very very favorable tax treatments for especially business
owners going to Puerto Rico. Housing very affordable. Of course,
you always have downsides, right, nothing is perfect. They always
(04:48):
have the electricity issue down there and things. But but
I think as time goes on and again, as our
prices continue to escalate, not saying the rest of the
world is not going to catch up a little bit,
but you know, we we We were just discussing with
a dear friend that he went down on a trip
recently down into the Caribbean, and he's like, I am
shocked at which you can get for two hundred and
eighty thousand dollars, you know, a beautiful, beautiful home and
(05:11):
so yeah, it's it's definitely feasible. But you know there's
always I know, like on the Mexico side, when I
started researching that it does get very challenging as far
as knowing how to you know what ownership and titling
and who really owns what, And that's what scared me
away from I didn't I didn't like the way that
things are. Things are set up in Cabo, and we'll
say in Mexico in general, as far as you know
(05:33):
the ownership and so on and so forth, and you
have to set up a trust. It's there's a lot
of things, so you absolutely need professionals. But you know,
we all see, of course darting political times, especially people
go oh, you know what, I'm done with the US.
We've seen a lot of movie stars when Trump got
elected decided to head overseas. So there's a lot to it.
You got tax considerations and citizenship, et cetera. But for
(05:55):
those that are interested, this is gonna be a real
interesting topic for them. It will be all right, Well,
let's get the stock market side of things out of
the way. Today, Man, what an interesting session it was today.
You know we had this how'd you like that? Those
numbers yesterday, guys, I mean, what a blowout in the market.
You know, five hundred and eighty five point game yesterday
on the Dow. NASDAK got four hundred and three, pretty
(06:18):
much made back most of the games, all of them
on the Dow, from the loss on Friday. And then
of course Nasdaq and the sp came close to recapturing
most of the losses from Friday yesterday. And then, as
I said on the show last night, you know this
was when you have these big run ups for really
not any specific reason. It's always you got to be
careful about these shortcover rallies, right, Those are the professional
(06:40):
traders that have shorted the market, Like on Friday, maybe
they made a lot of money. They come into Monday
and they go, oh, things aren't as bad, so they
got to start buying those shares back. That drives the
market up. That's always one consideration. So you never know,
and you never get, you know, too excited about a
one day lost, and never get too excited about a
one day gain. And today we just kind of floundered along.
The Dow was under pressure for most of the day.
(07:01):
We had a video down, a bit down, two dollars
and ninety eight cents, sales forced down four dollars and
eighty two cents, and United Health led the pack, which
is quite unusual. Usually it's at the bottom. But it
had a good day to day, up about nine dollars
and seventy one cents, four percent gain to two fifty
sixty nine. But there was also one other thing that
happened today, and we had at seven o'clock things kind
of change, and we had what's called the ISM Service Report.
(07:23):
And I know, Corey, you watched this one service the
ISM Service Report. Remember the key here is you want
a reading above fifty that show's expansion in the service
side of the economy. Well we got that fifty point one,
but what the traders looked at was okay. In the
month of June the reading was fifty point eight, so
it dropped seven basis points from the previous month. Wallster
didn't like that, and so therefore, as soon as that
(07:43):
report came out at seven o'clock, we started to see
things begin to dip. And we spent most of the
day either and you know, pretty good losses on the
dow side of things, and modest gains on the on
the dow side. NASAC was just kind of ho hum.
Once it started selling off, it never really recovered, and
so you know, they're really wasn't a lot to today's action.
Palantaier Technology was a big winner, they reported after the
(08:05):
closed yesterday, finished the day up twelve dollars and sixty
one cents, about seven point nine percent to one seventy
three twenty seven. It was interesting, Corey, did you or
either of you, did you guys happen to see that
interview with Trump this morning on CNBC?
Speaker 3 (08:17):
Tippy Kitchen was alive, but I watched some replay a
lot of it, right.
Speaker 1 (08:22):
Yeah, yeah, yeah, yeah, it was. It was very interesting. Man.
I feel sorry for the for the host on CNBC, Corey,
because you know, they asked him one thing and he
goes boom over to this side, boom over to the
web side, you know, just back and forth, and they
had to keep trying to corral him to stay on
the subject. But he said that, you know, he may
be announcing a replacement for FED Governor Coogler, who on
(08:46):
Friday said that she was stepping down. Also possibility whoever
fills her seat will eventually be nominated for FED share
So that's going to be the interesting one. Now. The
other thing he mentioned that the market's kind of set
up in their chairs about Scott Missent, our current Traine
Secretary of Wall Street guy, he was rumored to maybe
be on that list who replaced Jerome Powell. Assent came
out today and said he told the President, I don't
(09:08):
want to be the chairman of the Federal Reserve. Nope,
don't want to do it. So he's off the list.
So we will see what happens. You got a director Hassett,
Kevin Hassett, and a few others. But I think we'll
probably be hearing something in the next few months. Who's
going to fill that vacant?
Speaker 2 (09:25):
Was that resignation strategic design?
Speaker 1 (09:29):
You know, it's hard to tell, Dwight. You know it
was resignation slash firing day on Friday when this happened.
You know, why why did she do it all of
a sudden? Why did she resign from her position on
the board. And that that literally came, if I remember right,
fifteen maybe thirty minutes of the time window when Trump
(09:50):
announced that he was going to be hiring firing the
head of the Barreau of Labor Statistics, the organization, government
organization that produces the non farm peraile numbers, which the
numbers were crappy. There's no way to sugarcoat. They were
allousing numbers on Friday, and he immediately put the blame
on her and fired her right on the spot. And
then you saw this, So yes, I to me, do
I you know, just talking you and I and a
(10:11):
few friends, I would think that it was strategic because
that opens up with her resigning and it's effective, I
think on the eighth so here in a couple of
days with her resigning. Now remember he can appoint, but
he can't the person that he appoints. They still got
to get cleared by Congress, which I mean Republican led
(10:32):
Congress should be no problem confirming them unless they have
a really bad background. But to your point, yes, I
think behind the scenes, in my opinion, it was something
that was planned because now he can put whoever he
wants in there. He's the analogy I gave on the
show on Friday, and I think you guys would agree
with this. What I'm saying with the president is it's
almost like a corporate takeover, right. He is the acquire war.
(10:55):
He's searching right now who he wants to acquire? Well, guys,
what happened? And you know, if Corey Dwight wants to
take over your company, what does he do? He makes
an offer and then he buys you. And then what's
the first thing that he does? He starts putting his
own people on your board. Right, you're still around, Dwight, Right,
You're still around. But Corey starts putting people on your board?
Why to persuade the rest of the board members that
(11:18):
the way Corey wants to do things, this is the
way it's going to be done. Trump's no different. He's
trying to insert people in key strategic positions in the
FED so that you have a really a Donald Trump
control FED, which many of course do not want. But
this I think would be the first step. So you figure,
if he has that, he's got his own his Treasury secretary,
who's his right hand man. He's he's starting to do
it pretty, you know, pretty handsomely. What do you think
(11:41):
of that?
Speaker 2 (11:41):
I mean, And it'll be interesting as pick because it's
going to be a true friend.
Speaker 4 (11:46):
Yes, the financial arena, I mean, yes, I don't know
who it'll be with the set saying no, but yeah,
I to me, it just felt like this is all
Timing's perfect to get somebody.
Speaker 1 (11:57):
In there for it really is it really is? All right,
we come back, we'll tell you with this market day today,
we'll hit the commodity, the interest rate, the mortgage side
of things. Then we're going to get into our topic,
is the American dream outside the US of Corean Dwighton's
turned it over to Kristin snow right now Traffic Center.
Hey Kristin, welcome back to the John Sanchez Show on
(12:31):
News Talk seven eighty k O. Wait to the coryage
Vegerility and of course the White Mallard of Highlands Mortgage.
All right, before we get to our topic again, is
the American dream outside of the United States. We're talking
home ownership. Let's study what happened on the market and
then hit the mortgage side of things. We finished down
sixty two on the Dow forty four thousand, one eleven
again wide range today forty four thousand and three oh
eight was our top. Forty three nine twenty three are low.
(12:55):
Nazek lost one thirty seven point five five percent, SMP
down thirty one points er point four nine percent pull
back a dollars seventeen on oil price level sixty five eleven,
gained eight dollars and ninety cents on gold three thousand
and four to thirty five forty an ounce, And Millard,
we don't get this very often, a big old goose
egg on the ten year treasury four twenty one. How
do we do on the mortgage side of things?
Speaker 2 (13:13):
Yeah, that's sitting good.
Speaker 4 (13:15):
This is the back to school special right now. The
thirty year fixed rate, according Mortgage News Daily, six point
five eight. The fifteen years we actually predicted last week
five point nine to three on the fifteen.
Speaker 1 (13:29):
Year, So yeah, look at that. Yeah we did break that.
Speaker 2 (13:33):
There we go, faha, six point one nine.
Speaker 4 (13:35):
So, I mean we're headed in the right direction, I'm
afraid to Corey's point always is that we may be
a little bit late to the party now with these rates.
What do you mean, well, with the season kind of
you know, the big buying season is behind us, you know,
but I think it'll get some people out of that
would work for sure. I mean you're already starting to
(13:56):
see a little bit of a more activity. I hear
rates are coming down. Rates are coming down, right, good.
Speaker 1 (14:02):
Number, Corey, How important is uh yeah, is sub six
now on this fifteen. I know a lot of people
don't do this the fifteen, but hey, it's at least
one one of the maturities are there.
Speaker 3 (14:13):
It's it's all past. Because we've talked about it's been stagnant.
It still is stagnant. I'm still getting emails with open
houses and price reductions and now they call them price improvements.
And right before I left to do this, they had
a I think the email what's labeled a huge price reduction,
you know what I mean, Like they're starting to get
more and more. And so even when these rates come
(14:35):
down like over the last two weeks, it doesn't turn
the ship right away, but it helps right turn the ship.
So anything in that positive direction my caveat. And I
don't you know, I don't ever want to be the
one who who you know, goes towards the bad side.
But if the rates are coming down because people don't
have jobs, then forget it, right that you've got a
huge problem.
Speaker 1 (14:56):
Yeah, absolutely, well you brought this interesting point, Corey. On
the job side, right, everything is hinged on jobs. And
that's why, according to Trump, that he fired the head
of the BLS said, you know, basically, these numbers can't
be right. But I think the numbers are and it
was funny they I don't know if you guys saw
that interview yesterday with the former Labor secretary under the
(15:16):
Biden administration. She's like, there is no way, and you
know that that anybody can manipulate these numbers. She says,
there's as they get. I think within a week of
the numbers being released, she said there's forty five people
that are only forty five people that have access to
these numbers, and she says, the way the system is designed, etcetera,
it can't be manipulated. Right. So so I think the
(15:37):
week jobs report were received, I think it's legitimate numbers.
I really do. As much as i'd hate to say,
you know, this former Biden appointee was the culprit to
the numbers. I think in reality we're going to find
out those numbers were real and things are slowing down, right,
just as you've said, Corey, you know the price reductions
and so on and so forth, So you know, it
is what it is.
Speaker 2 (15:56):
It is the revision, John, do you see a revision
coming off the Steven.
Speaker 1 (16:00):
No, I don't know. And that was the problem on Friday,
Dwight is you know we got a revision for May
and June of geez well, it was north of two
hundred thousand jobs that were wiped out. And don't forget
in September is when we get that annual revision. Remember
when that happened last time where they wiped out about
a million jobs, they had said we're created over twenty
twenty four, So you got that right around the corner.
(16:22):
So they're basically, you know, kind of sitting on pins
and needles at this point. But you know, guys, we're
chatting off there, and you know, I was mentioning that
I brought my brother, doctor Dennis Sanchez on the show.
We started this new segment on Mondays. His specialty is AI.
Wrote his thesis on it, and that's what he does
for a living, teaching corporations and things about AI and
(16:43):
so many elements of it, more so on the mental side.
But you know, we did a show yesterday and invite
all of you to pick up our podcast from it,
indicating that it's very very difficult, Dwight, And I'm going
to look at you first because of the qualifying very
difficult for college graduates nowadays to find jobs because so
many the entry level positions now are not no longer
there because AI is taking them over. I had quotes
(17:05):
from Amazon and also JP Morgan and many others saying,
look at we don't need this entry level group anymore
because AI does it. And so what I'm wondering is
what kind of pressure Corey and Dwight could that be
putting on the first time home buyer's market, right, that's
your typical first time buyer, the one that's getting out
there getting a job for a year or two. Well, boy,
I'll tell you what. Read the stories that are out there.
(17:26):
It is a hard jobs market for a young person
trying to get that foot in the door. Do you
see that at all? You know, qualifying wise, Dwight and Corey.
Speaker 4 (17:34):
Well absolutely, John, I'm even seeing hours being cut right now?
Are you trying to redirect the resources? So it's a
it's an interesting times because we've talked about it. AI
is here and it's coming fast, and it's going to
eliminate jobs out Whether do it creates others in other areas.
(17:54):
I mean, we'll have to wait and see. But you're
you're right, these these these college students come right out
of college. It's tough right now, you.
Speaker 2 (18:03):
Talk to any of them, it's tough.
Speaker 1 (18:05):
How about you? What do you hear?
Speaker 3 (18:06):
Yeah, snippets of it. I haven't I haven't seen a
huge difference in it yet. But even talent here, if
you listen to their stuff, or he was going on
about how much their bottom line is going to go
up and the profit margins going to go up, but
they're reducing their their staff by I don't remember what
the percentage was all attributable to AI. So I kind
(18:27):
of agree with Dwight. I mean, I'm sure people will
go somewhere, they'll figure something out, but it does make
make everything nervous, and especially around here there's a lot
of blue collar obviously, the warehouse and the workers, the
you know, big in the lithium mines, these kind of things,
and so those warehouses, I mean, I don't know if
last time you ever been in one of these newer warehouses.
They are amazing, and they are built to not have
(18:48):
humans in them. Well, eventually they will not have humans.
Speaker 1 (18:51):
I heard some stat about how many excuse me, how
many humans now run an Amazon you know, million square facility.
It's like not much. I mean, it's mind boggling because
you said it's all being done by robotics and AI
and so on and so forth. So you know, our
conclusion sounds like you're saying the same thing, Corey. Our
conclusion on the show was, you know, those that choose
(19:12):
a profession where they're using their hands probably going to
be safe as far as AI is concerned. But you know,
anybody else, you know, learn as we keep emphasize learn AI,
make it your friend, be valuable to your employer, and
understand it because it is coming for everybody. But court,
real quick before we go to break, So what can
happen if we don't have this first time buyer market? Right?
(19:34):
I'd love for you to maybe look at some stats
and see maybe over the last few months or something,
you know, if this group is starting to slow down,
because obviously the way I look at it, and this
is why I want your opinion. If we don't have
you know, the first time buyer for call it property A,
then the owner, the current owner of property A, which
was their first home, can't move to property B. Right,
(19:55):
a little bit bigger and a little bit more expensive
housing then can't move to property C and so on
and so forth.
Speaker 3 (20:00):
Yeah, what do you think they're Yeah, yeah, the dominoes
at the beginning of a domino doesn't start to fall right, right,
But typically those people are still around, so they'll become renters.
They'll right have something else. So maybe an investor buy
that house. But I'll have to look through our stats
and see if there's a way to hone in on
it other than Duke could probably be helpful because FAJA
loans a lot of times are first time buyers. Certain
(20:21):
price points a lot of times are first time buyers.
Speaker 1 (20:24):
Yeah, okay, I mean it's.
Speaker 2 (20:25):
Just right off the top, John, you're probably that's thirty percent, right, Yeah.
Speaker 1 (20:28):
Yeah, yeah, I agree, right, I would think so perfect.
All right, when we come back, let's go overseas US
if we can do some real estate deals overseas, right,
is the American dream outside the US? Is it the
new one? Well, we'll talk about it when we come
back with Cory Dwaight sturned over to Jack Saban. He's
got news trafficking weather. Hey Jack. Back to the John
(21:00):
Sanchez Show on Newstalk seven eighty koh with Corey edge
Vege related Dwight Millard of Highlands mortgage. All right, once again,
we finished down sixty two on the Dow, lost one
thirty seven on the Nasdaq, and at decline of thirty
one on the S and P five hundred. But now
let's talk about making your American dream home ownership become
a reality. So our topic today really goes towards for
those of you that maybe a first time Biden. You're like,
(21:21):
I can never afford on my wages, et cetera, to
buy here in the US. For those that maybe want
to have dual citizenship, get out of the country part time,
part of the year. A lot of people do that
one or any combination thereof, or as we'll share with you,
some of the people are just saying I don't want
to be in the US for various personal reasons, various
political reasons, et cetera. So I just want to read
(21:44):
this from this article from real litter dot com. Scroll
through the listings in Antweet, Antigua or Saint Kits and
you're going to find more than ocean views and infinity pools. Increasingly,
highend homes in the Eastern Caribbean come with something else,
a second passport from not yet Dyce in a real
estate agent based in Antigua and owner of luxury locations.
She says, we've never seen demand like this before. So
(22:06):
she tells reloader dot com. She says, right now, ninety
nine percent of our buyers are looking for properties that
qualify for Citizenship by Investment. It's not just about the
lifestyle anymore, it's about having planned b Now, there's five
countries in the region, Antigua, Barbuda, Dominica, Grenada, Saint Kitts
and Nevis and Saint Lucia which offer official Citizenship by
(22:26):
Investment what they call CBI programs. Now here's how they work.
Buyers can secure a passport in exchange for purchasing qualifying
real estate, typically starting around three hundred thousand. According to
the agent. These passports grant visa free travel to as
many as one hundred and fifty countries, including most Europe
and the UK, and allow dual citizenship. And in a
(22:48):
year mark by rising political divisions and cultural unease in
the US, that demand is surging. So, you know, guys,
this article goes on to talk about, you know, you
can buy an ocean view home, swimming pool, blah blah blah.
You know, three hundred thousand but really there's a lot
of other things to take care of. So Corey thought
was a client of years, and I said, all right,
(23:09):
I'm done with the US. And I had this happen
with a client a couple of years ago. I'm done,
and I won't go to the reasons why, but I'm done.
This person moved to Mexico City. How would you used
to start looking for dealing with real estate in another country,
because it's a different animal. It sounds really nice, but
it's a different animal.
Speaker 3 (23:27):
Well, first we would have to get on a plane
and go investigate myself and make sure it's a nice
place to live. Obviously, that's number one. I mean, really, John,
I think it's just like when clients call me and
they want to go to different states or even different
parts in the that I topical war license all over
the state. But I'm not going to represent you in Vegas.
I don't know Vegas. So it's took like you're going.
Speaker 2 (23:47):
To leave the country.
Speaker 3 (23:48):
Well, now we have to go find somebody hey over
there that we can trust. But hopefully someone here who
has done the process that we can talk to and
kind of get to know it first. Because and I
almost said I don't want to say too good to
be true, but you're telling me you get all that
for three hundred thousand dollars. That seems like a pretty
dang good deal, especially.
Speaker 2 (24:07):
Mortgages on them.
Speaker 3 (24:07):
So I'm not saying there's a catch to it, but
you want to know what all the ins and outs are, right,
what happens, and if you need to sell it or
undo it.
Speaker 1 (24:15):
So well, you know what's interesting is do I from
a qualifying standpoint, these and to your point, Corey, these developers,
whether they're you know, I'll use the term local, I
mean within the country or I mean you've got a
lot of you know, the the high end hotels at
the highest et cetera, that are going to many parts
of the world and building these luxury resorts, and you know,
(24:37):
they put their name on it, and it's kind of
like Trump put your name on it, and people are
going to buy no matter where it is, right. But
then you got these local developers. I think that's where
you've got to be very careful. We all know that
Mexico is very famous for oh, we're gonna offer this
and and sign here and give us your deposit and
we're going to break ground. In six months, and you
know that never happens, so, uh do I You know,
(24:59):
if I came to you and let's say you were
licensed with your your company to sell in another or
to offer a mortgage in another country, you got to
really become an expert in that area of how the
whole banking system works, because again, researching it in Mexico,
it is a completely different animal.
Speaker 2 (25:17):
Yeah, John, and I can.
Speaker 4 (25:18):
Only imagine there's probably a significant difference between what is
a standing and what's being built, you know, I mean
from you are you required to get inspections? Right?
Speaker 2 (25:29):
You know, what are the what are the criterias to
be able to lend American money?
Speaker 4 (25:34):
I guess to afford you know, to a different country,
right and play by their rules.
Speaker 1 (25:41):
You know.
Speaker 4 (25:41):
What quickly came to my mind, of course, is what
we say we have upwards of almost sixty trillion dollars
in equity or something. I mean, that would be almost
a nice little you know, if these rates go down again,
you always pinned up this equity, be able to convert
that and pay cash for it. Still to look at
the laws in the way that goes. But I think
(26:02):
lending gets a little tougher look how tough it is
in the United States.
Speaker 1 (26:05):
Oh yeah, right, exactly.
Speaker 4 (26:06):
Yeah, imagine now over there, and everything's got to be
shifted to remember, by some sort of ship a lot
of times, right, I mean, you got it goes in containers.
Speaker 2 (26:14):
You can't get a couch or up.
Speaker 1 (26:17):
You know, things don't move very exactly exactly they did.
Speaker 3 (26:21):
And I'm sure you already know it, Tom, but you
were mentioning Cabo earlier. And I do have a couple
of friend slash clients that own a couple of places
in Porto Barta. And then another friend is somewhere down
on the peninsula, but they have title companies there and
I won't mention it, but the biggest ones in the
USA are also down there, some semblance of title insurance.
(26:41):
And I would assume, and Dwight would probably know. I
don't know if you can lend down there because you're
getting a title pulse he or maybe they.
Speaker 1 (26:48):
Can, you can, That's what I'm saying.
Speaker 3 (26:50):
This.
Speaker 1 (26:50):
This gentleman that did this webinar, he's a he's a
big hit, heavy hitter down there in Cabo Corey and
he he's he doesn't live down he travels back and forth,
but he's based with one of the large lenders here
in the US. A company starts with the letter G
if you know what I'm talking, we'll.
Speaker 2 (27:04):
Start researching that John and become very proficient.
Speaker 1 (27:06):
In the core. See there you go, there you go
absolutely well. You know, in all seriousness, guys, we've seen
a lot of businesses that have that have moved their headquarters.
Let's again say Puerto Rican Again, I don't want to
hear any criticism that. You know, it's not a foreign country,
I know that, but it acts like it, you know,
but significantly lower and I got it. I'm not going
(27:29):
to say the numbers because I don't remember that, but
significantly lower personal tax rates, corporate tax rates. And again
the dollar just buys you ten times what it can
here in the US. And again you're you're you're looking
over the ocean and so on and so forth. But
but I think you know, the point that we want
to get across is do your due diligence, right Corey.
(27:49):
I mean, if you are frustrated here, folks, this is
again I'm going to come back. I'm going to circle
back to this AI and not to sound like a
broken record, but there is no reason that anybody eight
these days should be unemployed on for you're a new
college graduate or whatever, or be stuck living somewhere that
you don't want to live, because all you have to
do right now is find an employer or better yet,
(28:10):
build your own business somewhere where you want to be. Right.
I've tried to do that myself, and let me tell
you there's nothing better. I read a great article yesterday
and I forget which bank. It was some some bank,
Midwest Bank. Oh, Standard Charter, That's who it was, Standard Charter.
And the CEO, you know, Gray Hair, been around a
long time. He's like, we're not We're all adults. He goes,
(28:31):
we're not making all of our employees come back into
the into the branches and stuff like that. He says,
we're all adults. Their survey of their employees like ninety
nine percent of them are happy and you know, productive
and everything else. Then you got the other side, like
JP Morgan and some of these other big banks like no,
you're back in the office. I you know, we did
so many shows during COVID about that whole scenario. I
(28:52):
think again, take control of your destiny. If you want
to live in the Caribbean and make a business on
YouTube or wherever you want to do. It can be done.
I think we just have to open up our minds
now and say, what's the technology out there? What is
it I want to do? Where do I want to be?
And make it a dream. I mean it's it's it's
all possible. There is no excuse anymore.
Speaker 2 (29:14):
I'm john to your point.
Speaker 4 (29:16):
You know you got starlink, you got different areas ticket,
I mean, you can stay connected. What I found fascinating
in this was the citizenship by investment.
Speaker 1 (29:26):
What yeah, what a concept?
Speaker 2 (29:28):
Is the sweetener to the deal. It is in a
great house. You know, that's just a sweetener. You get
another citizenship.
Speaker 1 (29:36):
Well, you know we saw that remember during COVID, guys,
how many I think it was your old stop a
grounds Corey, South Carolina. I remember some little towns there
were like, hey, we'll give you it was pretty good
chunk of money I think fifteen twenty grand if you
come here and relocate and stuff. So really no different.
They're swapping passport for commercial or investable dollars. And here
we were saying, let's swap money for people to come
(29:57):
and buy real estate and so on. And so forth,
so differ than we do with our corporations. Right, how
much money did we give Elon Musta to build a
giga factory. It's all there. So I just I just
think it's a great fun topic to think about and
again encourage especially those of you that are young, have
really no ties to the US or something. I'm not
saying give up your citizenship, but go down there and
(30:18):
try it. Go down and rent for a while. I
have a lot of retirees that go down there. They
just rent for six months or a year and they're like,
I really like this all right, now, I know what
areas I like, and they buy. I've got one guy,
you know, mid level or mid age, middle aged couple.
They left Reno. They went to Mexico City, like a
really small area. Just talked to him about a month ago. Absolutely,
(30:40):
they've been down there like three years, like we're never
coming back. We are never. They come back and visit
for doctor visits and stuff, like we love it down here.
Low cost. The house that they bought for next to
nothing has gone like double in value, triple and value
in the last few years. So you can make money.
You can make money. You gotta do it all right,
let's wrap it up. Speaking of making money, Let's see
if she can make us some money by keeping us
safe on the highways. And that is of course Kristin
(31:01):
snow right now traffic center. Hi Kristin, Welcome back to
John Sanchez Show on News Talk seven to eighty k
O wait with Corey individual really to White Mollards of
Highlands mortgage phone.
Speaker 2 (31:20):
Number please two four zero two zero two two.
Speaker 1 (31:23):
Thank you, sir, mister edge six seven three six seven
zero zero beautiful. Thank you, fellows, do appreciate it. All right.
We've been discussing again is the American dream meaning home
ownership now outside the US. So let's kind of wrap
things up, guys. I want to run through some things
I've thought about as far as the pros and the
cons of buying or broad So I think you know
(31:43):
the first pro not that these are any priority, but
the first pros we said, going to break favorable residency.
You buy in some country, they're going to give you
a residency, citizenship, et cetera. Obviously, the potential cost savings.
We all know that in most parts of the world
it's much cheaper to build. Of course, you may be
giving up a little bit of safety and things like that.
But you know, again this is all part of your
due diligence. So we got the big cost savings. We're diversifying, right,
(32:07):
We're in other parts of the world. There's nothing wrong
with that. Great for retirement. Like I said, I've had
a number of clients, as I was sharing with you,
that have decided to completely move out of the US
or they go there six seven months out of the
year and then they downsize and keep a little condo
and reno or something to stay, you know, us slash
Nevada residence, and they love that lifestyle. If you're businesses,
(32:27):
like I said, you got access to new markets. You
got to remember, especially you start going down to you know,
like the Puerto Ricos of the world and the ones
that you know have development but still quite a few
years behind us. That's why you're seeing a lot of
these crypto companies. I was starting to say this, guys,
a lot of these guys that start these crypto companies,
they're moving down to Puerto Rico because there's so much
(32:48):
money down there, you know, people retiring, et cetera. But
also the favorable tax treatment. So you know, let's just say,
access to new markets for the for the entrepreneur. The downside, boy,
you better learn this one. The legal and the bureaucratic complexity. Yes,
that can, that can really sway things. Yeah, political and
economic risk. I think I shared this story a while back,
but my wife's best friend was getting is getting married
(33:10):
in October down and I think that's Cancun, and we
were supposed to go, and with all this issue with
tariffs of Mexico and everything started, I said, we're not going.
I'm not taking a chance. I just at that part
makes me very, very nervous. So you always have that
political and economic risk. Corey. The property management challenges, well,
we think it's a problem or a challenge managing the
property over in sparks when you live in Reno. Imagine
(33:31):
that managing went to Mexico over the Caribbean, right.
Speaker 3 (33:34):
Well, and that's where you got to find those local
people out of doing it. I gotta be careful all
the fees. We're used to paying five to eight percent
here for local stuff, but they will charge when we
ran a company like that, twenty fees management fees because
they turn over so much. So, yeah, you just got
to know all the stuff but I just I don't
know one of the pros. It sounds fun right.
Speaker 1 (33:55):
Right right right? Oh yeah, no doubt about that.
Speaker 3 (33:57):
Yeah, I'll tell you a real quick story. Oh sorry,
one of dwight guys that used to work for I
ran into him a few years ago and his wife
has passed away. We got to talking. He goes, I
want to sell the house. So I saw this house.
He took his money, went to Costa Rica. He said,
I haven't served in years. He served until he ran
out of money and came back and got a show
it back a time.
Speaker 4 (34:18):
I love it.
Speaker 1 (34:19):
I love it. That's yeah, that's what it's about. That's
what it's about, No doubt about that. Yeah, Costa Rica
is another one. I've had a few clients, uh go
down and move down to more more on a part
time basis. But yeah, they love it and they love
how far their dollar goes. Another negative again, Dwight. The financing.
So what's your wrap up advice on the financing side
(34:39):
of things.
Speaker 4 (34:40):
Yeah, I think, like like Corey said, to talk to
somebody local. There are people that specialize there kind of
know what the money you know plan is, you know,
does it and and if they loan there.
Speaker 2 (34:52):
Just know the terms.
Speaker 4 (34:54):
You know, you don't want to get caught off guard,
and you know any way, shape or form, So really
do your diligence. There's got to be lots of resources
out there.
Speaker 1 (35:03):
Yes, yes, know the terms. And after what you guys said,
understand who holds the title, the length of time you
have the title, because some countries you're essentially almost renting.
It's like ninety nine years that you can have it,
and there's a lot of rules. What I found I
was researching Cabo. I found a really good agent who
(35:23):
came from America, so obviously there was no language barrier,
but she'd been down there for like twenty five years,
knew everything about it, right, I mean Dwight, I mean Corey.
Aaron has shared some great storce. He loves going down
in that Cabo area, right, writing quads on the beach
and some of that simplistic stuff. So yeah, it's all there.
And then obviously the cultural language barriers, but again it's
(35:45):
either a positive or negative. A lot of people want
to learn a new language, learn a new culture, and
then then they can go with that. So all right, grace,
great job, guys. We do appreciate it, We'll do it
again to more on The John Sanchez Show. God Let's
have a great afternoon. Dwight Mallard nmlsid number two four
one two five nine a license mortgage loan officer with
(36:08):
Highlands Residential Mortgage Limited and Equal Housing Lender NMLSID Number
one three four eight seven one. The information shared on
this live broadcast is for general information purposes only and
does not constitute financial or mortgage advice. Listeners should consult
directly with a license mortgage professional for guidance tailored to
their specific situation. All loans are subject to credit approval
(36:29):
and program guidelines. Not all applicants will qualify. Loan terms
in availability may vary by state and are subject to
change without notice. Highlands Residential Mortgage Limited is licensed in
multiple states. For a full list of state licenses and disclosures,
please visit https slash slash www dot Highlandsmortgage dot com
backslash licenses backslash. The views expressed during this program are
(36:52):
their own and do not necessarily reflect those of Highlands
Residential Mortgage Limited.
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