Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence

Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence

It is Independence Day as we celebrate the 250^th birthday of the USA. What are some examples of how real people created a more independent and better life for themselves owning real estate

Host: #JoGarner #MortgageOfficer 901 482-0354
Co-Host: #AllenMcCool #realestateappraiser (901) 763-5500
Featuring: #SantaClaus and his booking agent #ChuckBohannon 901 619-6436
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner. Com

LET’S GET STARTED…(Jo) (Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! . You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. You can connect with me at www.JoGarner.com. Our Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence. Thank you to real estate attorneys Shelley Rothman and Rob Draughon of Griffin, Clift, Everton and Maschmeyer Law Firm for sponsoring this episode of Real Estate Mortgage Shoppe. For the title work and closing on your home purchase or refinance, contact Rob and Shelley at 901 752-1133. Today is June 23rd, 2026, our July 4^th Independence Day show. Happy 250^th birthday to America.

Introducing Real Estate Appraiser Allen McCool of Stephenson Associates Appraisal Service Real estate appraiser Allen McCool of Stephenson and Associates is back in the studio again. It has been a busy time this spring and going into summer with people who are buying their first home or not their first home or they are refinancing to establish more independence in life. But, Allen McCool, you can bring steady clarity to the real estate transaction with a clear and concise appraisal value with defined conditions. McCool has about 1.5 Minutes introducing himself and talking about the services he offers)

(jo) Wayne Tozer- A New Life

It had been a long, overseas military tour. Wayne Tozer’s eyes anxiously combed over the sea of people with their children. They were waving small American flags and some were waving posters with “Welcome Home Our Heroes” written on them.

Wayne’s heart skipped a beat and he had to catch his breath when he finally caught sight of his wife holding their three year old son. They had not seen him yet and he worked his way toward them through the jostling crowd.

Besides spending time with his family and getting settled in his new civilian job, Wayne’s commitment was to purchase a nice home for his family that would build equity and give them room to grow. Wayne knew from his military experience, if you want to achieve something, you have to get started and keep focused on your end results. Even if he bought a small home now, he could sell later and move up to the bigger home later. He did not want to waste time and money paying rent.

Wayne’s credit was okay and his income would be enough to manage the house note. The problem? Wayne did not have the cash to put down nor did he have any to pay closing costs. The Key Puzzle Pieces for Wayne Tozer:

(1) Wayne Tozer’s veteran status and time in the military made him eligible for the zero down VA loan.
(2) The sellers were willing to pay closing cost and prepaid property taxes and insurance.

Wayne was buying a step-up home-a less expensive home in a neighborhood that was going up in value. He and his family could use the profit later when he sold the house to buy up to a bigger place and live life the way they wanted.

So many veterans over the years never call me or wait years to call me because they think long as you have enough eligibility value available. You can buy a single family home, a duplex, a triplex or a quadraplex, as long as you live in one of the units. You might be eligible for a 100% VA loan if you are a widow or widower of a veteran who passed away due to a service-related injury or illness.

Do you want more independence and freedom to live a better life? I believe you achieve ANYTHING in life if you own enough real estate and take care of it. Call or text me at 901 482-0354, 901 482-0354.

(Jo) Allen McCool, our expert appraiser from Stephenson and Associates, you are seeing lots of home purchases and refinances going on in the MidSouth. (Allen launches into his topics until the ad break about 5 minutes -to be continued after break)

OUTRO: You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. What do YOU want to accomplish with YOUR mortgage? I can make the mortgage process EASY for you with the right mortgage. Connect with me at JoGarner.com When we come back, we will be hearing more from Real Estate Appraiser Allen McCool with Stephenson and Associates. See you back in just a moment.

2nd segment is after first break 8 minutes 50 seconds

( Waaka Waaka song in background ) COMIC QUERIES (you probably already know the answer, but we will ask anyway

(Jo) Riddle #1:

The Riddle:
I am a dedicated employee whose only job is to be brilliant, loud, and the absolute life of the party. I spent weeks preparing for my big, explosive debut to show everyone what I can do. The very moment I finally show a spark of genius and do my job perfectly, I am immediately fired.

What am I?

(Allen)The Answer:
A firecracker! (It must be “sparked” and “fired” to work, which instantly destroys it).

Today on Real Estate Mortgage Shoppe we are talking about” Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence”

I’m your host, Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,. We can find the right mortgage product and make the mortgage process EASY on a traditional mortgage, on special programs and outside-of-the-box mortgage programs too. Connect with me at JoGarner.com

Real Estate Appraiser Allen McCool of Stephenson and Associates 901 763-2100
Santa Claus’s Booking Agent Chuck Bohannon 901 619-6496

TALK SHOPPE BUSINESS TIP FOR REAL ESTATE PROS

^2nd segment after 9:15 advertising break – (producer to start the song “Taking Care of Business” by Bachman Turner Overdrive –but bring the volume down before the lyrics start) It’s time to talk shop with Talk Shoppe’s Business Tip For Real Estate Professionals. Talk Shoppe is a marketing company offering free education and networking to anyone interested in real estate or in business. Talk Shoppe is made possible by the financial support of its sponsors and advertisers. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Talk Shoppe sponsor Chuck Bohannon, the Mid South booking agent for Santa Claus—and he brought Santa Claus with him! Santa Claus, we are talking about treasure hunting today. I have heard so many stories about how you have helped families and friends make wonderful Christmas holiday memories by appearing a their holiday events. What is our Talk Shoppe Business Tip for Real Estate Professionals today? (Santa has about 1.5 min to share her tips )

Santa Claus, how do we reach your booking agent Chuck Bohannon to have you visit our holiday parties and celebrations? (901) 619-6436

Santa’s Tip:
____________________________________________________________

TOPICS COVERED BY ALLEN MCCOOL OF STEPHENSON & ASSOCIATES

On the 250th birthday of the U.S.A., the American Dream is still alive and thriving. There have always been, and always will be challenges.

In the residential real estate world, we look around today and see interest rates which seem high by comparison to very recent years, but which are historically low as viewed from the perspective of us old timers, who have been in the market 30+ years.

On a recent broadcast, we talked about examining your priorities regarding housing and investment, and then using your curated list of goals to select a home that fits your needs, and which may also provide an appreciating asset for your portfolio.

Renting may be the right choice for a time, especially as you evaluate your needs, but consider the potential long-term benefits of owning the right home for you.

It starts with knowing your buying power, meaning finding out how much you can afford to invest in a home. For most people, this means consulting a knowledgeable lender, such as Jo Garner, to gauge your financial position and prudent borrowing power.

Knowing your priorities in regarding the location and type of home that fits your needs, you can make informed choices. Recently we discussed your personal goals vs. the types of housing and locations which typically tend to appreciate in value. How well do these 2 sets of priorities line up? Where there are differences, you may be able to save money by seeking property that fits you better than it does the broader market.

Traditionally, the faster-accelerating markets cater to growing families, who tend to be looking for yards, school districts, proximity to employment, shopping, recreational amenities, etc. Other accelerators may include special views or proximities to attractions, especially if the supply is scarce. To the extent that your goals mesh with those of the market, you may find increased competition from other buyers, which results in upward price pressure.

For perspective, consider that after owning a home that has appreciated in value over time, many homeowners look back at their original time of purchase and remember that the price they paid was not a “bargain” at the time. The old adage “buy low and sell high” may not apply in a competitive situation, but instead, “buy high and sell higher”, if your ownership time span is long enough to appreciate.

Alternatively, “buy low and sell high” may apply if you are savvy at picking diamonds in the rough, such as distressed properties that can be economically rehabilitated through relationships with competent contractors.

3^RD SEGMENT 12 minutes

( Small Victories Song playing in background)

For Did You Know today…(see if you can guess the answer before we do)
(Santa) Question: What is the name of this song?
(Allen) Hint #1 On July 5, 1954, a 19-year-old truck driver named Elvis Presley was in the studio at 706 Union Avenue for a frustrating, largely unproductive recording session arranged by producer Sam Phillips. Late in the evening, during a casual break, Elvis and friends began playfully fooling around with an upbeat song
Hint #2 Just days later, the song hit local airwaves on WHBQ, lighting up the switchboards and permanently altering the trajectory of global popular music. What is the name of that iconic song?
ANSWER: “That’s All Right” by Elvis Presley

Today on Real Estate Mortgage Shoppe we are talking about” Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence”

Real Estate Appraiser Allen McCool of Stephenson and Associates 901 763-2100
Santa Claus’s Booking Agent Chuck Bohannon 901 619-6496

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

Buy vs. Rent-Charlie Breaks Down the Arguments

Charlie wanted more than anything to make the right decision. He was married now with his first child. He and his wife felt like they needed to keep the jobs they had where they worked less than 38 hours a week, because the short week and flexible hours gave them time to spend with their young son. Charlie lived to spend time with his son, but he wasn’t sleeping well at night because he was afraid something would happen to destroy the little bit they had scraped to save.

He had been listening to Real Estate Mortgage Shoppe when we talked about the advantages of owning a home vs renting. “Yes, Jo, I know all the reasons you list that owning my home vs renting, but I can rent this little place cheaper than buying a home and having to do repairs. What happens if I buy a house and one of us gets sick or we can’t afford to make the payments?” Charlie had remembered the advantages of homeownership, but we needed to look at both sides to buy vs rent.

Advantages to homeownership:

If you buy a home in an area that goes up in value over time, in a few years you will have built up enough value to sell the home and use your profit to buy a bigger home without going up too much on the house payment. Or, if you have a super low payment on the home and you can rent your property to a tenant you can make money each month and every couple of years you can raise the rent a little bit and give yourself a raise.

If you need to sell the house fast because you got a job in a different city, you could rent the home for a profit. OR, if you have a government-backed loan like an FHA, or a Veteran Loan or a Rural Housing loan, those loans are assumable which means someone could pay you some of your equity and just take over the payments on your mortgage. They would have to qualify with your mortgage company, but if the current mortgage rates are higher than the rate on your mortgage, someone might jump at the chance to pay you your equity and take over the payments. You can get paperworkto release you from liability on the loan too. Talk about having independence. The more options you have, the more independence you enjoy.

Charlie Compares Owning vs Renting

Charlie was still not convinced. In the neighborhood where he was renting, the rents were increasing an average of 3% per year. Prices on homes were going up about 5% per year. He and I calculated what could happen over the next 5 to 10 years if he kept renting instead of buying.

After five years, with projected rent increases, Charlie would go from paying $1,500/month to $1.688/month. His net worth owning real estate after five years of renting -zero dollars. He can’t build a deck out back and he can’t put in a pool or a dog run, because he has to live under the landlord’s rules.

Charlie reminded me that he would not have to pay for any maintenance and repairs on the house. “And, people who own houses have to pay more if taxes go up..” Charlie pointed out.

“You are right, Charlie,” I agreed. But the homeowner would enjoy a fixed principal and interest payment for the life of the loan and the homeowner kept their payment at $1,500 per month for the life of the loan. After four years the taxes went up and the fifth year the payment would be about the same as Charlie would be paying in rent. But, if Charlie owned the house, instead of gaining ZERO net worth from the house, he would be about $38,000 richer because of the value on the house going up. He would be free to build the pool and the deck and the dog run and a tree house for his son.

If Charlie bought his home now instead of renting, when Charlie Jr. gets to college age, there might be enough equity in the house that Charlie Sr could get an equity loan secured on that equity to put Charlie Jr. through college.

Are you trying to decide to buy a home or rent? Let’s discuss your options. Call or text me at 901 482-0354 or JoGarner.com

I should have suggested to Charlie that he could get a job working from his home so he could make money and still spend time with his son. After Charlie Jr. leaves the nest, Charlie Sr and his wife could rent the extra room to a student or a travel nurse or other professional and create an extra ncome and a tax deduction.

When Charlie and his wife grow older, over 62 years old, they could get a reverse mortgage on the house so they could live without having to make payments or enjoy a regular income each month from the mortgage company to really enjoy their retirement

Refinance Options to Independence For Homeowners .

If you already own your home and have some equity built up, life circumstances may make it the right time to refinance.

Top reasons we see homeowners refinancing:

Debt consolidation. Getting a new first mortgage and rolling in the credit cards to get rid of the 20% to 30% interest rate debt.

Lowering the house note.

Buying out an ex-spouse or getting someone’s name off the mortgage.

And more….

MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY. I can make the mortgage process easy. Connect with me at www.JoGarner.com You can email me at Jo@JoGarner.com or call me at (901) 482-0354

4^th Segment 8 minutes and 50 seconds

(THE SONG UpBeat Inspirations PLAYING IN BACKGROUND ) INSIGHTS & INSPIRATIONS

Rags to Riches Owning Real Estate

Long before she became a celebrity investor on television, this woman was working as a diner waitress in New York City. She had no family wealth or formal business background, but she was relentless in her pursuit of a life of wealth and independence that did not look possible. construct one of the most successful residential real estate empires in American history.

In 1973, this lady’s boyfriend loaned her $1,000 to cofound a local real estate agency. loan from a boyfriend to co-found a tiny, localized real estate agency. Rather than chasing massive commercial buildings or luxury high-rises right away, this woman focused strictly on individual residential apartments and small multi-family rentals across New York City.

Every single dollar earned from her early commissions and small rental spreads was strictly partitioned. Instead of upgrading her lifestyle, she funneled 100% of those profits into securing the down payments for her next residential properties and expanding her broker network.

Through decades of compounding small, disciplined investments, Barbara Corcoran turned her micro-startup into The Corcoran Group, which she eventually sold for $66 million.

Are YOU looking for a way to enjoy a better life of independence ? I believe that you can accomplish ANYTHING owning enough of the right real estate and managing it well. Whether you are buying your first home or your 50^th home, I can help you find the right mortgage and we can make the mortgage process EASY. Connect with me at JoGarner.com

Today on Real Estate Mortgage Shoppe we are talking about” Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence”

Real Estate Appraiser Allen McCool of Stephenson and Associates 901 763-2100
Santa Claus’s Booking Agent Chuck Bohannon 901 619-6496

REAL ESTATE TIP OF THE WEEK

Santa Claus (Chuck Bohannon) Tip: (1.5 min)
ALLEN MCCOOL OF STEPHENSON & ASSOCIATES SHARES A TIP (901) 550-2100

Jo Garner’s tip :

ANNOUNCEMENTS:

Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. Talk Shoppe meets every Wednesday 9A-10A CT at Independent Planning Group’s conference room 110 at Clark Tower 5100 Poplar Ave 1^st floor Memphis, TN

(Thank you Ben Hunter 901 660-2912 outstanding Financial Professional at Independent Planning Group for being Talk Shoppe’s location sponsor)

Talk Shoppe – There is no meeting on July 1^st. Let’s celebrate the 250^th birthday of America. But on Wednesday July 8^th, 2026 9AM CT join us for a presentation by James Hayes, of Pest and Wildlife Solvers, “What’s Bugging You? Termites, Rats, Moles” 901-686-2220

Thank you to Donna Roach of Hearthside Senior Living in Bartlett, TN. If you are looking for a great place to live in retirement where you can exercise your independence to eat well, have fun and lots of friends, contact Donna Roach of Hearthside Living in Bartlett, TN at 901 651-2503.

Thank you to retired US Navy Line Commander Peggy Lau. Would you want to take some of the profits you have made from your real estate purchase and make great memories with loved ones on a first-class vacation? Peggy Lau can show you how. Contact Peggy Lau with Viago Travel at 901 289-0747.

Let’s celebrate 4^th of July for America’s 250^th birthday!

MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE DOES NOT ENDORSE 100% OF THE CONTENT ON THIS EPISODE. REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY, AND NOT AN OFFER TO LEND. EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND MOST ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS. JO GARNER IS A LICENSED MORTGAGE LOAN ORIGINATOR. (EQUAL HOUSING OPPORTUNITY)

QUOTE CORNER: “People say that money is not the key to happiness, but I always figured if you have enough money, you can have a key made.” – Author Unknown
“I am having a hard time saving money because things I don’t need keep going on sale.” — Author Unknown

ACKNOWLEDGMENTS AND CREDITS

REJOINDERS:

Craig and Karen Meadows of Meadows Homes of Mississippi (901) 620-7554
Silvana Piadade, EXP Realtor in Tennessee and Mississippi 901 647-6661
Brett Bernard of John Stamps Company, the Investment Division

Transitional Music: First Segment “WAAKA WAAKA” (PD) for Comic Queries; “Small Victories” by Allen McCool allenmccool.com and on Pixabay for Did You Know segment; “Upbeat Inspiration” by Ikoliksaj for Insights and Inspiration segment.

INTRO AND OUTRO THEME MUSIC “Country Roads” by Sergie Pavkin

PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER

An essential guide for real estate professionals and their customers.

On Amazon and Barnes and Noble

ABOUT ALLEN MCCOOL, APPRAISER WITH STEPHENSON & ASSOCIATES

Allen McCool is a real estate appraiser with Stephenson and Associates. Holding the SRA designation from the Appraisal Institute, Allen has appraised residential property in Shelby County, TN for over 35 years, , provides clarity in reporting results, and is a reliable provider of solutions to challenging real estate problems. 901 550-2100

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

www.JoGarner.com (901) 482 0354 jo@jogarner.com X @jogarner NMLS# 757308 (currently working with Everitt Financial dba Supreme Lending)
ONLINE LOAN APPLICATION : https://jogarner.supremelendingLO.com

“Whatever YOUR personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on hitting your goals .”

As a mortgage loan officer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help you find the financing terms that will help you get to what you want. What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

Different clients have different priorities in life—some are buying their first home with very little down payment funds. Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

Jo Garner is a mortgage officer with extensive knowledge in helping her clients find the right mortgage program and making the refinance or home purchase mortgage process EASY. She offers conventional, FHA, VA or other loan programs for primary residences, second homes and investment properties.

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 30 years. She grew up in West Tennessee and got her start in real estate 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 30 years.

In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on the Mighty 990 AM, 107.9 KWAM & streaming on the app https://mighty990.com/app with podcasts and show notes published on www.JoGarner.com Pick up Jo Garner’s book on Amazon or Barnes Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”

Buy Smart, Live Free: How Homeownership Creates Financial and Lifestyle Independence

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