HIGHLIGHTS FROM OUR PODCAST TODAY:

MARKET NEWS

LOOK BACK MEMPHIS TRIVIA CONTEST

QUESTIONS ANSWERED BY TOM KING:

  1. What do you see the market doing?
  2. What is the difference between a relocation appraisal, the Zillow.com appraisal, the Shelby County Assessor appraisal and a mortgage appraisal?
  3. What is the best thing to do to prepare my home for a real estate appraiser to put a value on it?

QUESTIONS ANSWERED BY MARK van STOLK:

  1. What steps do I take (step 1 step 2 step 3) to be better able to make a goal and reach it?
  2. What are some mistakes people make when creating and trying to execute goals?
  3. What do you do as a business coach for your clients?

QUESTIONS ANSWERED BY JO GARNER:

  1. What if you want to pay your mortgage off sooner rather than later?
  2. What are some smart ways you can buy real estate rental properties that you’ve learned from your clients?
  3. What are some secrets to keeping your credit scores on the high side?

REAL ESTATE TIP OF THE WEEK

ANNOUNCEMENTS

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Good morning Memphis! Good morning across the country on iHeart Radio and BOCI Radio networks. You’re on the Real Estate Mortgage Shoppe program. I’m your host, Jo Garner, Mortgage Loan Professional with Evolve Bank and Trust. If you have a real estate related question or comment or you want to talk about your real estate financing, the coffee’s hot and you can join the conversation by calling us on the air at (901) 535-WREC (901) 535-9732. Tom King, appraiser with Bill King Company is here this morning. Great having you on the show as always, Tom.

<Tom introduces himself >

(Jo) Tom can talk about anything you want to talk about –no one has ever caught Tom speechless before-at least not yet.

(Jo)Today is January 10th, 2015 and our general topic is “STEP-BY-STEP TOWARD YOUR TARGET: REAL LIFE AND REAL ESTATE TOO” Sitting around the coffee table with us is my business coach, Mark van Stolk of Calaveras Coaching. Mark has helped me over the years reach and surpass some of my target goals and aspirations, and he’s helped me do it step-by-step. We finally talked him into joining us on the radio to share some of his wisdom and we hope he can help YOU reach some of YOUR goals and aspirations. Mark, take a moment to introduce yourself and tell us a little bit about what you offer your clients. <Mark introduces himself>

(Jo) Step-by-step our mortgage rates this week have gravitated down to a 19-month low. If you looked at refinancing or purchasing a home last year in the summer of 2013 or anytime during 2014 and you weren’t quite happy with the terms—let me work the numbers for you TODAY. Not only are the mortgage rates down to the upper 3’s on a 30 year with no points and the 15 year down in the low 3’s. The FHA government loan program just made a sizable cut to the amount of monthly mortgage insurance you have to pay which is like lowering the rate an additional half point. Some of our loan programs do not even require an appraisal value and some don’t even require money down. Let me and my experienced assistant, Susan Belew, rework your numbers today. You can call us on the air today at 901 535-WREC or off the air directly at 9901 482-0354 or catch us on our blog www192.232.195.219

<Tom and Mark comment>

(Jo) Mark is my business coach and he has been helping put together a plan to meet some of my goals. Some of my projects can seem a bit overwhelming because I tend to reach for the stars and I’ve said, “now Mark, I know this sounds like a huge project so don’t laugh when I tell you what it is,” but Mark says, “I’m not laughing,” and he helps me build a ladder to get to the stars step-by-step.

Susan and I talk with mortgage clients all the time that have goals they want to reach or dreams they want to realize. We ask them, “What do you want to accomplish today (from your mortgage refinance or your home purchase?) What are your plans for the next 5 years?” The mortgage is one of the biggest financial obligations a person HAS. So many times a simple mortgage restructure can make the difference between a client getting to retire early with a paid off mortgage, or being able to afford to purchase a home that seemed unreachable in the past, or some of our clients didn’t think they could afford to build their income and wealth by buying real estate rental property—but using the right mortgage product or combination of programs, they suddenly see how to make some of their dreams come true. If you’re thinking about making some life changes for yourself or even for someone else, buying a property or more than one property or selling one, upsizing or downsizing or paying off your mortgage early –or maybe you just want some extra cash freed up each month, let’s talk on the air at (901) 535-WREC or directly off the air at (901) 482-0354, or connect with me on the blog www.192.232.195.219

<Tom and/or Mark make comments>

(Jo) Today we’re talking about “STEP-BY-STEP TOWARD YOUR TARGET: REAL LIFE AND REAL ESTATE TOO.” Whatever real estate topic you want to discuss, Tom and I LOVE to talk real estate—I like to talk about money and Tom likes to talk about Elvis and sky-diving and just about any topic but he’s pretty good at helping you determine the value of your property. Mark van Stolk can help you break down your project, whatever it is, into manageable, measurable steps.

<Tom talks about the importance of knowing the value of your real estate –for changing family situations like estate sales, divorce settlements, buying real estate or selling real estate etc —–and anything Tom wants to say>

Mark comments

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2nd segment after 9:15 breakIt’s time for the Look Back Memphis Trivia Contest. Our Look Back Memphis Trivia Contest SPONSOR is Marlene Foster who is all about security. Give Marlene a call at 901 232-6277. She will take good care of you Marlene is giving away a $25 gift card to the first person who calls with the correct answer to our Trivia question. The Look Back Memphis Trivia Contest is usually brought to you by Memphis notable historian, Jimmy Ogle www.jimmyogle.com, but today our own Tom King has a trivia question that he is just jumping to share.    If you know the answer, call us on the air at (901) 535 WREC. (901) 535 9732.

Our Trivia Question: How did Barbara street in Memphis get its name?

(Tom gives the hints over the air)

Answer: The street Barbara Dr. near Trezevant and Jackson Ave.  was named after Barbara Walker who was Ms. Memphis and went to the Ms America Pagent and became Ms. America.  After she became Ms. America the street was named after her.  At that time cities could compete in the pagent.  This was in 1947.

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QUESTIONS ANSWERED BY TOM KING:

  1. What do you see the market doing?
  2. What is the difference between a relocation appraisal, the Zillow.com appraisal, the Shelby County Assessor appraisal and a mortgage appraisal?
  3. What is the best thing to do to prepare my home for a real estate appraiser to put a value on it?

QUESTIONS ANSWERED BY MARK van STOLK:

  1. What steps do I take (step 1 step 2 step 3) to be better able to make a goal and reach it?
  2. What are some mistakes people make when creating and trying to execute goals?
  3. What do you do as a business coach for your clients?

QUESTIONS ANSWERED BY JO GARNER:

  1. What if you want to pay your mortgage off sooner rather than later?

Jo talks about the formula for making one extra P&I payment per year either in one lump sum or by paying twice a month—but don’t pay someone to do this for you. You can set it up easily yourself for free

 

 

  1. What are some smart ways you can buy real estate rental properties that you’ve learned from your clients?

If learned from many of my clients and from some of the experienced investors you’ve heard on this show, but the lessons I have learned the best are the lessons I learned personally from the seminars I took at a school that MANY of our listeners have been to—it’s called the “school of hard knocks” and their school colors are black and blue.

First of all, do your research on the neighborhood. If you are certain you want to buy rental properties in a certain area, hire an experienced appraiser like Tom King to give you a range of values and information about the neighborhood.

 

Don’t be afraid to make a low offer going in. Think of it like this—If you’re buying rental property, you’re buying a BUSINESS. You want to buy something that is making money—not going in the hole. Don’t be afraid to make you first offer low—for example 60% of the value. The seller may think you have lost your mind, but he might later accept your offer or may sell the house to you at 75% of the value. At least you would not have lost your wallet.

 

I make my offers contingent on a satisfactory inspection by a professional inspector. That way I do not pay for a professional inspection until I know my offer is accepted. No sense wasting money if the seller won’t take your offer.

 

If you are not experienced at buying rental property, please get an experienced realtor with a good reputation on your team—AND an experienced mortgage officer who has been there and done that successfully with rental properties.

 

Before you even start working on your goals, make sure you spouse is on board with your plans. Meeting with your financial advisor or your business coach is not a bad idea. Your financial advisor or a business coach (like Mark van Stolk) can help you determine the steps you need to take to reach your goals successfully. You want to know what it’s going to take before you build your tower or your real estate portfolio.

 

  1. What are some secrets to keeping your credit scores on the high side?

(Jo) making some general points—Always pay your bills on time and don’t let them go over 30 days late.

To maintain a good credit score, keep your unpaid balances under 50% of the total credit limit on revolving accounts like your credit cards. If you want a better chance of IMPROVING your credit scores, keep your unpaid balances below 30% of your total credit limit.

You don’t want too many open accounts but if you have a lot of them and you want to close some of them, be sure you keep open one or two of the older accounts because they tend to improve your credit scores

 

REAL ESTATE TIP OF THE WEEK: (Tom or Mark and/or Jo offers a practical time-saving, money saving real estate tip of the week. 1.5 min approx)

Announcements: Jo’s announcements

Talk Shoppe offers free education and networking to anyone interested in real estate or in business.   This week Service Master Cornerstone will be presenting “Hacking Into Hoarding.” Talk Shoppe events are free at the YMCA NUBER CENTER 5885 Quince Rd Memphis (across from the Lichterman Nature Center) 9A to 10A Wednesday January 14th, 2015        . For more information go to www.TalkShoppe.BIZ

To hear today’s podcast of the Real Estate Mortgage Shoppe and others, go to www.JoGarner.com

Transitional Music: From Anatasia  “At The Beginning” by Richard Diaz and Donna Lewis; “To  Morrow”  by the Muppets; “Step By Step” by Whitney Houston; “Memphis” by Johnny Rivers for the Look Back Memphis Trivia Contest

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TOM KING, APPRAISER WITH BILL KING CO.   (901) 487-6989

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REAL ESTATE TIP OF THE WEEK: (Jo and Mark offer a practical time-saving, money saving real estate tip of the week.)

Announcements: Jo’s announcements

Talk Shoppe offers free education and networking to anyone interested in real estate or in business.   This week Service Master Cornerstone will be presenting “Hacking Into Hoarding.” Talk Shoppe events are free at the YMCA NUBER CENTER 5885 Quince Rd Memphis (across from the Lichterman Nature Center) 9A to 10A Wednesday January 14th, 2015        . For more information go to www.TalkShoppe.BIZ

To hear today’s podcast of the Real Estate Mortgage Shoppe and others, go to www.JoGarner.com

Transitional Music: From Anatasia  “At The Beginning” by Richard Diaz and Donna Lewis; “To  Morrow”  by the Muppets; “Step By Step” by Whitney Houston; “Memphis” by Johnny Rivers for the Look Back Memphis Trivia Contest “Suspicious Minds” by Elvis Presley

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TOM KING, APPRAISER WITH BILL KING CO.   (901) 487-6989

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MARK VAN STOLK, BUSINESS COACH WITH CALAVERAS COACHING. Tel: (901) 753-3753 www.calaveras-coaching.com

Trusted Advisor: From his graduation from MIT and his MBA degree from Georgetown University, his marriage and family, to his struggles and triumphs as a businessman, Mark has grown into the trusted advisor he is today.

Business Owner: Over the past 30+ years, Mark van Stolk has owned three businesses. Under his leadership one of these companies, Calaveras Trading & Investments, LLC, was ranked seventh in five-year performance worldwide in 2001. In 2004, that company was also selected small business of the year by the local Chamber of Commerce.

Effective Coach: From his work in coaching and implementing “Total Quality Management” at a large shipping company, to his current work with small to medium size businesses, Mark takes great satisfaction helping business people improve their quality of life, profitability, and business effectiveness. One client told Mark that his coaching saved his marriage. Another found joy again in running the business he’d almost given up on. Most have been able to leverage themselves and grow their business so they can be more profitable while having more time for their families and hobbies. Mark’s coaching helps people!

Man With The Plan: Throughout his career, Mark has been recognized as “the man with the plan”, who could lead his team through resolving almost any challenge or problem. He is best known for his ability to quickly focus-in on the core issues and then develop and implement plans that reach their goals.

Active In Community: Mark is active in St. George’s Church, Germantown Kiwanis, the Germantown Area Chamber of Commerce, the NFIB, Leadership Germantown, Talk Shoppe, and the local sailing community. In addition, he is a member of and is licensed by the Professional Business Coaches Alliance (an international cooperative and an unequaled resource for business coaches).

Involved Parent: Being a business owner, Mark was able to find the time necessary to be an involved father. Not surprisingly, sharing the parenting of twin daughters with his wonderful wife Lise is what Mark believes to be the real achievement in his life. Heather and Courtney, both recent graduates of Vanderbilt University, are delightful, very bright and well rounded young ladies. Whether singing in choirs, creating beautiful crafts, writing and illustrating a children’s book, teaching languages, leading groups into the wilderness or just goofing off around the house – the twins are the light of their Dad’s

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ABOUT JO GARNER, MORTGAGE OFFICER AND CONSULTANT, EVOLVE BANK & TRUST: (901) 482-0354 www.JoGarner.com @JoGarner jo@192.232.195.219

 

Jo Garner’s Bio

www.JoGarner.com   (901) 482 0354 jo@192.232.195.219

Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country. She offers conventional, FHA, VA or other loan programs for refinancing and purchases.

 

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home purchase financing.

 

Jo Garner has been in the real estate/financing business for over 20 years.  She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge.

 

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 20 years.  Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.

In addition to her work in the mortgage field, Jo Garner  is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.BIZ She was also the editor of Power Shoppe, a free weekly e-zine designed for real estate professionals and others indirectly connected to the real estate industry and currently publishes on her blog www.JoGarner.com   .

 

For real estate financing solutions, plug into the Real Estate Mortgage Shoppe program. You can find mortgage rates, FHA Streamline refinance with no out-of-pocket costs, refinancing options, home purchase loan programs, answers and real estate, money-saving tips and more.