Want to feel good about your home purchase or home repair? Jo Garner, Mortgage Loan Officer NMLS# 757308 shares stories about people who used smart strategies dealing with required home repairs, Cost-to-Wait scenarios and setting up multiple exit strategies. Ed Hill shares important rules to follow when hiring contractors to do repairs. Pat Goldstein, Realtor, points out some details on the home purchase contract that can make or kill your deal.
Host: #JoGarner #MortgageExpert #MortgageLoanOffficer (901) 482-0354
Co-Host: #EdHill #memphisRoofer
Special guest: #PatGoldstein #midsouthrealtor (901) 606-2000
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes www.JoGarner.com
#roofcontract #repaircosts #midsouthmortgage #midsouthrealtor
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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 topic today is Contracts, & Communication-Avoid Costly Mistakes on Home Repairs to Home Mortgage Decisions. . This episode of Real Estate Mortgage Shoppe is sponsored by real estate closing attorneys Shelley Rothman and Rob Draughon of Griffin, Clift, Everton and Maschmeyer Law Firm in Memphis. For your real estate closing or refinance, contact Shelley Rothman and Rob Draughon for closing title services (901) 752-1133. Today is September 30th, 2025
Introducing Ed Hill of Masters Roofing
(Jo) Back in the co-host chair we have Ed Hill of Masters Roofing. You have a great reputation for doing excellent work on roof repairs and replacements. You also keep your customers happy with other types of exterior home repairs. Even the shingle companies give a warranty on your work. Ed Hill of Masters Roofing, take a minute or two and introduce yourself and tell our listeners about some of the services you offer your clients. (Ed has about 1.5 minutes to intro himself and talk about the services he offers his clients)
(JO) When I was in elementary school my favorite books to read in the library were biographies of famous people. I read stories about Thomas Edison, a prolific inventor who succeeded by failing. When someone asked him about his thousands of failures, he famously said, “I have not failed. I’ve just found 10,000 ways that won’t work.” That is what he said right before he invented the light bulb. My favorite bit of wisdom, though, came from Eleanor Roosevelt. Her advice is to “Learn from the mistakes of others. You can’t live long enough to make them all yourself.” Today on Real Estate Mortgage Shoppe, we want to help you pick up some good ideas from some customers we know and avoid the mistakes of others.
When You Know You’re Right-You know when you made the right decision on your mortgage when you pay the least cost spend less time acquiring a mortgage, and that makes you the biggest return in dollars and quality of life.
Do you want to feel secure that your decision to buy your home was a smart decision?
First, CONSULT with knowledgeable professionals that have a good reputation for taking good care
of their clients. When choosing your realtor, your lender and other professionals, check their
reviews online. If possible, talk with other people you know who have used them before.
Second, REVIEW the paperwork put in front of you. Ask questions before signing anything. I am happy when my mortgage clients ask questions. My goal is that my clients feel good and have some bragging rights by the time they get to the closing table.
Third , LOOK around. Review your own budget. See where you can reduce some expenses so that the house payment is personally comfortable for you. Review your bank account to make sure you will still have some emergency funds available after closing. Drive around the neighborhood where you want to live, maybe even talk with the neighbors there. Inspect the house you want to buy. Can you see any repairs that may need to be done before closing? Negotiate on the front end what the seller and buyer will pay toward repairs.
A good realtor can lead you around pitfalls in the home buying process that can save you time and money. They have seen plenty of mistakes people make and can help you avoid making the same ones.
A good mortgage professional can listen to your plans, get a feel for your comfort level on a monthly mortgage payment and down payment. A good mortgage officer and find a mortgage program that will fit you best. They can assist you in making the mortgage process easier.
Check out some good articles online with basic tips for buying a home and getting a mortgage. If you know even a little bit from your own research, this can give you more confidence as you work with your realtor and your lender. I wrote a book just for you –“Choosing the Best Mortgage –The Quickest Way to the Life You Want.” It is full of stories of people like you who had big dreams of owning their home and the smart strategies they used so they could enjoy bragging rights on their accomplishments.
What do YOU want to accomplish with YOUR mortgage? I can help you get the right mortgage and make the mortgage process EASY. Connect with me at www.JoGarner.com
(Jo) Ed Hill of Masters Roofing, you repair and replace roofs but you also do a number of other exterior home repairs. We’re about to go to break, so what are some topics you plan to cover in our next segment?
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 hearing more from Ed Hill of Masters Roofing. The “Gold Standard in Real Estate,” Pat Goldstein from Crye-Leike Realtors will be joining us with some real estate tips when we come back.
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2nd Segment 9:18 AM to 9:30 AM
(RING BELL for COMIC QUERIES (you probably already know the answer, but we will ask anyway (Riddle: I change hands often, securing homes with a fee; in my grip, the key to where you’ll be. What am I?
Answer: Mortgage Question: Ed, what does it costs for you to tell me a roofing joke? Ed “ it’s free because it’s on the house”)
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 Pat Goldstein, Realtor with Crye-Leike in West Tennessee and North Mississippi. Pat, your home buyers and home sellers who have used you as their realtor call you the “Gold Standard in Real Estate.” What is our Talk Shoppe Business Tip for Real Estate Professionals today? (Pat has about 1.5 min to share her tips )
Pat Goldstein, when we need a realtor to buy a home or sell one, how do we contact you? (901) 606-2000.
Pat’s Tip: Read the contract with your realtor, getting a good understanding of what you will be signing when you make your offer. It is better to read over the contract BEFORE you are ready to make an offer when you are calmer and not in the heat of the moment.
Be careful when writing in conditions of the contract. A good realtor can help you. Examples of not paying attention to the details: When the buyer’s offer asked the seller to “pay 3% of the buyers closing costs instead of 3% of the sales price.
If the sales price is $250,000, if the seller said he was paying 3% of the price, the seller would be paying $7,500. But the buyer wrote on the contract asking the seller to pay 3% of the closing costs. Closing costs of $3,000 x 3% means the seller only has to pay $90. Not paying attention to the details, in this case, would lose the buyer over $7,000 dollars at closing.
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TOPICS COVERED BY ED HILL OF MASTERS ROOFING
If you are responsible for a roofing project on an existing commercial or institutional building, then you must consider the following guidelines in selecting qualified contractors and solutions.
Whether you need to replace a roof on a church worship center or office building, a daycare or a dental clinic, an apartment building or a restaurant, you must know and understand these principles:
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Start with the best contractors by taking bids ONLY from state-licensed contractors. This ensures that your bidders meet state contractor requirements and are accountable to the state contractors board. In most states this means they must carry required coverages for both general liability insurance and worker’s comp insurance AND post a bond with the state.
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Require detailed printed or written bids that clearly specify the scope of work, the materials to be used and the timeline of beginning and completing the work and schedule of payments.
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Require addresses and contact information for previous work sites and customers and then review the previous work results and the satisfaction of the customers.
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Remember that the bitter taste of poor quality far outlasts the sweetness of low pricing!
If you are considering commercial or institutional roof replacement then please include in your bid process the advice and services of Ed Hill, Senior Consultant with Masters Roofing Memphis. Contact him at 901-273-6594 or email him at EdHill.MastersRoofing@gmail.com. MemphisHomeMaintenanceShow.Podbean.Com
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(Ring bell -DID YOU KNOW…. Memphis has one of the largest artesian well systems in the world. This aquifer contains more than 100 trillion gallons of water that fell to the earth as long as 2,000 years ago. It first became available to the city in 1887.
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We are drinking water from our faucets today that fell to earth on a rainy day as long ago as New Testament Bible days when Jesus and His disciples were walking on the earth. Talk about drinking in history…
3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Preventing Repairs from Punching a Hole in Your Family’s Home Purchase- Cannon and Carol Chrisley’s Story
Cannon Chrisley and his sister Carol needed to buy a home that was big enough for their mother to live with them. Their mother needed 24-hour care, and they would give be able to keep her safe and happy. After a long search, they found a home with a special area where their mom could have her own space separate from everyone else. The house was affordable too. The catch? The home needed some repairs that the realtor warned would probably need to be completed BEFORE closing in order to meet requirements from an appraisal.
Sometimes buyers are thrown into a dilemma over who is going to pay for repairs after they have paid hundreds of dollars for a home inspection and an appraisal. If the buyers can’t pay for the repairs before closing and the seller refuses, the buyers have lost their money.
A good realtor can spot repairs that mortgage companies typically require to be done before closing so that the buyer and seller can negotiate into the contract who will pay for them BEFORE the buyer pays money to have the home inspected and appraised.
If an appraisal list repairs that affect the structure, sanitation or security of the home, mortgage companies tend to require these repairs to be completed BEFORE closing .
Structural: Rotted wood, electrical, plumbing or heating and air that do not work properly, roof leaks, missing shingles, foundation problems, damaged drywall, flooring
Sanitation: Mold, drainage problems, other toxic items present
Security: Doors that don’t lock, broken glass, unsecured access points into the house from COST
(Text me or call me at (901) 482-0354 or connect with me at www.JoGarner.com and I can send you my 2-page Do’s and Don’ts for a Smooth Mortgage Process
There are several ways to help buyers like The Chrisley’s.
They could agree with a clause in the contract on how much the seller will pay toward any required repairs—if any appear on the appraisal. In some cases, the needed repairs were obvious and the sellers agreed to pay for them and have them done before closing.
In other situations, the sellers would not have the money to pay for repairs until after closing. If the appraisal mentioned some of these key repairs, the seller or buyer might agree to have the repairs completed a day or two before closing (AFTER the buyer is fully approved on the mortgage subject only to the repairs being completed.) Some contractors will do the work before closing and get paid a day or two later when the home closing occurs.
In still other transactions, a lender might allow repairs done right after closing as long the cost of the repair is put into an escrow account at the title company. When the appraiser goes back out and confirms the repairs are done, the money is released from escrow to pay the repair contractor.
There are several different ways to negotiate repairs to be completed, but it helps to already have some agreement in place before the buyer pays hundreds of dollars for a home inspection and an appraisal.
COST TO WAIT IS NOT ALWAYS ABOUT THE INTEREST RATE
Jack and Jenny -work associates in the corporate office in the year 2024
Jack and Jenny had been work associates in adjoining cubicles at the corporate office for over 3 years. Both Jack and Jenny had individual plans to one day become a homeowner. Jack’s realtor regularly sent him information about homes for sale within a 10-minute drive from the office. Jenny wanted to live close to the office too and her realtor would send information about homes for sale too.
Jack held off going to look at homes for a while because he said, “These mortgage rates are so much higher than they were a few years ago. I think these rates are going to come down, and until that happens, I am just going to wait about buying a home.”
Jenny was hoping the mortgage rates AND the prices would come down, so she kept paying rent each month to her landlord.
The Federal Reserve finally dropped their rate in the fall of 2024, but surprisingly the mortgage rates went up even higher. Jack consulted with his realtor and his mortgage officer. Home prices had been inching up steadily in the area where he wanted to live. Mortgage rates were predicted to go down, but not by much. When Jack saw a home that he liked, he wrote an offer and bought his first home in the fall of 2024. He paid in the low 300’s for his home with a 30-year fixed mortgage rate in the high 6’s.
Jenny was laying her bets that the prices on homes would come down and mortgage rates too. A year later, Jenny told Jack she was finally becoming a homeowner. Jenny bought in the same neighborhood as Jack, but the prices on homes had gone up about 4 percent over the last 12 months. Mortgage rates were about a half point lower though.
Comparing Jack’s home purchase a year earlier with Jenny’s recent purchase, did Jenny win by waiting? What was her cost to wait?
Jack paid a little over $300k for his house with a mortgage rate in the high 6’s in the fall of 2024 with about 5% down payment.
House prices had gone up about 4% since last year so Jenny paid about $12,000 more on the price for her house and also put down about 5%. Her interest rate was about a ½ point less. Her loan amount was higher because of the prices on homes going up, so her mortgage payment was $25 lower than Jack’s.
Depending on how far you want to go comparing various factors, Jenny saved $25 per month but paid $12,000 more for her house. It would take 40 years to make back the $12,000 higher price with saving only $25/month. Plus part of Jack’s mortgage payment was paying down his mortgage balance. Jenny had no equity to show for the last 12 months since she was paying rent to her landlord during that time.
Let’s go back to the steps we covered in the first part of the show
CONSULT- with your realtor, your mortgage officer, your financial advisor
LOOK AROUND- What are the prices on homes doing in the neighborhood where you want to live. Can you afford the monthly payment with plenty of room for emergencies? If you can afford to buy the house you want today, at least you don’t have to worry about having to pay a higher price later? If rates do down enough, you can always refinance.
SET UP PROFITABLE EXIT STRATEGIES FOR LATER IF YOU WANT TO MOVE
A good realtor can help you find an area that, over time has steadily gone up in value. No one knows for certain what the future will bring, but if the homes in that area have been going up in value for years, the chances are good that you will be building some equity in the property over time. When you are ready to move, it is probable that you could sell the home at a profit to yourself.
If the housing resale market is not good when you are ready to move out and buy a different home, if the area also has a strong rental market, it is possible you could rent the house out to tenants that would pay enough in rent to more than cover your mortgage payment and some expenses. If the resale market is bad during that time you probably could make a profit renting the home to tenants until the market was better for selling.
We can explore government assumable loan programs too. These type loans would give you additional options for later on when you are ready to sell your home and buy another one.
(RING THE BELL) INSIGHTS & INSPIRATION
From “heartsandminds.org”
Only those who do nothing at all make no mistakes… but that could be the biggest mistake. Anyone who has never made a mistake has never tried anything new.
But this one from — Cullen Hightower
got my attention: Laughing at our mistakes can lengthen our own life. Laughing at someone else’s can shorten it.
REAL ESTATE TIP OF THE WEEK
ED HILL OF MASTERS ROOFING OFFERS A TIP (about 1 minute)
PAT GOLDSTEIN, REALTOR WITH CRYE-LEIKE OFFERS A TIP (about 1 min) Pay attention to the repairs when you are inspecting a home that you are considering to buy. Major repairs that affect the habitability of home are important. The bigger more important repairs need to be considered as to who will repair and pay for the repairs to be done and when. Don’t push too hard to get the minor repair items done, because you might cause the seller to reject your offer to buy.
Jo Garner’s tip
Mortgages don’t come in a one-size-fits-all. Work with an experienced mortgage officer. If you are telling me your story and describing what you terms you want and the house you want to buy. There are so many different types of mortgages, and there might be a special product that could give you some serious bragging rights. Contact me at www.JoGarner.com or (901) 482-0354 and let’s select the best fit on mortgage programs. Our team can make the process easy.
What do YOU want to accomplish with YOUR mortgage? I have the knowledge and experience. Let’s look at traditional mortgage products, alternative mortgage products and even combinations of products. I can help you get you what you need and make the mortgage process EASY. Jo Garner, Mortgage Loan Officer 901 482-0354 www.JoGarner.com
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 1st 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 on Wednesday October 8th, 2025 attorneys Shelley Rothman and Rob Draughon of Griffin Clift Everton and Maschmeyer Law Firm present “Real Estate Fraud—How to Avoid It”
Talk Shoppe says thank you to the generous sponsors like retired US Navy Line Commander Peggy Lau of Viago travel program. Want to save a lot of money taking for first rate vacations? If you want to know how, Call Peggy Lau at 901 289-0747.
Thank you to Talk Shoppe’s sponsor Craig Jennings, with Avalon Capital. He is a private real estate investment lender. If you are looking for quick, short term cash to buy an investment property, renovate it for resale or rent, contact Craig Jennings at Avalon Capital (901) 417-8427
MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, 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:
QUOTE CORNER (The wife says to her neighbor) “Sean’s do-it-yourself repairs afford us a night out—usually in the emergency room.” Cartoonstock
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CREDITS AND ACKNOWLEDGEMENTS
Sound effects by Zapsplat
REJOINDERS:
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Troy and Lynn McDonald of Erin McDonald Insurance Agency 901 849-7101
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Mark McLaurine of Refrigeration Unlimited HVAC replace and repair 901 216-7782
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Craig Jennings Avalon Capital
Transitional Music:
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 ED HILL OF MASTERS ROOFING
Ed Hill has been in the residential roofing industry since 2008 and has been Senior Consultant with Masters Roofing Memphis TN since 2010. He has personally assisted about 800 homeowners with roof replacement and many others with roof and exterior repairs. He is an active member of the Greater Memphis Business Network International chapter and is the official Masters Roofing consultant to TPC Southwind. He holds three earned degrees including a doctorate but tries not to let those get in his way of serving his customers! For free roof advice, free inspections, and free estimates and bids for roof replacement or roof repair call Ed Hill at 901-273-6594. Learn more at #EdHillMastersRoofing and at MemphisHomeMaintenanceShow.Podbean.Com
Ed Hill, Senior Consultant
Masters Roofing
2845 Stage Center Cove
Bartlett TN 38134
901-273-6594
EdHill.MastersRoofing@gmail.com
TN State Licensed Contractor #00067521/ Reciprocal Licenses MS & AR
BBB A+ Accredited Member Business
Platinum Preferred Contractor Owens Corning / GAF Master Elite Installer
Guild Quality Member / Angie’s List
www.EdHillMastersRoofing.webs.com
Podcast https://MemphisHomeMaintenanceShow.podbean.com
You Tube Channel: Ed Hill Masters Roofing
http://Instagram.com/EdHillMastersRoofing
www.Facebook.com/EdHillMastersRoofing
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 News Radio AM 600 WREC and iHeart Radio 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”