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Want to Get Started in Real Estate?

The sooner you get started in real estate, the stronger the likelihood you’ll be able to retire with a nice real estate portfolio.

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Are you thinking about getting started in real estate? Barry Krevoy and I have a story to share that might interest you.

It starts with a man Barry met 30 years ago. Recently, Barry and this man were talking about one of the properties the man owned, and he mentioned that he actually owned seven properties—four of which were paid off. When Barry asked the man what he did for a living, he said he was a foreman at a steel mill. Barry then asked—with all due respect—how a foreman at a steel mill came to own seven properties.

The man said that when he was young, he scraped and saved until he could buy his own place. He then moved out of that place after a couple years and started renting it. He did the same thing with the next place he bought, and the same thing with the property he bought after that. Every time he collected rent from these subsequent properties, instead of putting that money in his pocket, he paid the mortgages of those properties down quicker.

This story illustrates the power of being a landlord, and it’s something you need to understand. Being a landlord means having someone else pay your mortgage for you.

Don’t wait for your dream home to come along to get started in real estate.

You have to get started somewhere, though, so don’t wait for that dream home to come along to do so. Your first home won’t be a 2,000 square foot house with a big backyard. Your first home should be a small place you don’t mind moving out of and then renting out. There are many down payment assistance programs we can help you with if need be.

We can help you get started in real estate. Don’t self-diagnose yourself—contact us so we can formulate a plan to get you into your first home. If you already own a home, let us help you get more of them. If you get started, the likelihood that you’ll be able to retire with a nice real estate portfolio is very good.

If you want to get started in real estate or you have any other questions, don’t hesitate to give us a call or send us an email. We’d be happy to help you.

2 Myths That Millennial Homebuyers Believe

Today I’m debunking two commonly held myths that millennials have about home buying.

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I had a situation that came up this weekend with a young couple who came along to a showing with their parents. I wanted to take some time to debunk two commonly held myths among millennial homebuyers.

1. You need to pay more than 20% down on your purchase. This couple was looking at a $500,000 condo last weekend. They were only 27 years old and believed they needed to put 20% down on the condo before they could buy it. The thing is, 20% of the purchase price is $100,000. That’s quite a bit of money, especially for this couple.

What I suggested was against the father’s advice, but that they should strive to put 10% down on the condo. Now, of course they’ll have to pay the mortgage insurance because they’re coming in with less money, but the payment would only be an additional $247 per month instead of waiting and coming up with the additional $50,000.

If you can’t make a 20% down payment, talk to a lender about other options.

Ideally, you’d want to come up with the 20% down payment, but if that isn’t immediately feasible, the best option is to talk to a lender and see if you can come to an agreement to pay less of a down payment so that you can get into the home quicker instead of waiting to save that additional money.

2. Many millennials are under the impression that you need to have a credit score of more than 780 to qualify for any home loans. While that is a great credit score, the reality is that 54% of people have a credit score that is less than that.

There are many different types of loan programs that allow you to qualify for financing with a credit score that is lower than 780. Granted, you probably won’t qualify with a 500, but if your credit is higher than 640, most lenders can work with you.

If you have any more questions about this topic or you’re looking to buy or sell a home, please feel free to reach out to me. I’d be happy to help!

5 Things That Set Us Apart From Other Brokerages

Today I want to share five things I can do for you as a home seller that separate me from other brokerages.

As a Realtor, there are many things I can do that separate me from other brokerages. Here are five examples to give you a glimpse of the full service I provide if you’re looking to list your house and get the highest price possible for it. First, having a larger brokerage means having more experience to draw from. There are old rules, and now there are new rules. Technology has come a long way, and my brokerage has more than 1,700 agents that I can talk to on a daily basis. We also have 32 offices here in Southern California. Second, I can maximize the demand for your home and get the most money from a buyer. 84% of buyers search for their next home online nowadays. With that, I can put you in our own buyer pipeline and reach out to the other agents in my sphere before the home even goes on the market.

My brokerage has more than 1,700 agents I can talk to on a daily basis.

Third, I can market with more than just 10 pictures and use a professional to do so. I have a professional photographer that takes more than 40 pictures for each listing. Those pictures are taken with a tripod. Three pictures are taken of each room and then blended together to give a fantastic view of the home and give the buyer a real sense of what each room looks like. I can also provide night shots, a videographer with a drone, and a voiceover video. Fourth, I can stage your home at a much higher quality. If the aesthetic of your home isn’t up to par with your competition, I can have a professional designer come to your house and give you recommendations on how your home can be staged, decluttered, cleaned up, and made to look like a model home for all of its open houses, broker previews, and any private showings. Lastly, I can utilize market trends to price your home. Getting the most money out of your home sale means knowing how and where your competition is pricing their homes and making sure our market trends for your specific city, neighborhood, and zip code will be priced right where the market is trending. Stay tuned for the next video of this series that will reveal more of what I can do that sets me apart from other brokerages. If you have any questions in the meantime, don’t hesitate to reach out to me. I’m here to help.