CREATE REVENUE, HAPPINESS & RICHES-MAKE YOUR HOME & MORTGAGE WORK FOR YOU

Have you thought of ways you can make your house pay YOU to live there? During the episode of Real Estate Mortgage Shoppe, we will be covering some ideas YOU can use to create revenue, happiness and riches, making your home and mortgage work for YOU.

Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com. Connect with Jo Garner, licensed mortgage originator and Host of Real Estate Mortgage Shoppe at (901) 482-0354 Jo@JoGarner.com

Co-host: Tom King, Appraiser with Bill King Company (901) 487-6989

Special Guest: Pat Goldstein, Realtor with Crye-Leike, Inc (901) 606-2000

(1^st segment 9:06am to 9:15Am)

LET’S GET STARTED…(Jo) (Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! . Today is September 2nd, 2023. Call us in the studio while we are live at 901 535-9732.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 general topic: CREATE REVENUE, HAPPINESS & RICHES-MAKE YOUR HOME & MORTGAGE WORK FOR YOU

INTRODUCING TOM KING, BILL KING APPRAISAL COMPANY

In the co-host we have Tom King, appraisal expert with Bill King Company. Tom, you should write a book on how you see homeowners use their homes brilliantly to create revenue and riches. Some stories from homes you have appraised may not be so flattering, but we have a LOT to learn from what you see.

Tom, take a moment to introduce yourself to our new listeners and talk about some of the appraisal services you offer your customers. (Tom King has a minute and a half or so to introduce himself to the audience and talk about the services he offers)

(Jo) How to Make Your Money Work For You-“Rich Dad, Poor Dad”

90% of all millionaires become so through owning real estate.” Andrew Carnegie, one of the wealthiest men in the nation observed this principle amount fellow entrepreneurs like himself.

In more recent times Robert Kiyosaki, author “Rich Dad, Poor Dad” gives us a model to follow if we want to make our money and assets do the heavy lifting when it comes to building wealth.

Robert Kiyosaki was born to a poor dad, but his friend’s dad was rich. Robert spent lots of time with rich friend’s dad and learned from him how to put his money to work to build his empire. Are you following these principles to build your OWN secure financial empire?

Rule #1: Know what kind of income you are using for your investing.

Type A: Ordinary earned income like your paycheck. You pay the highest taxes on this income. It is the HARDEST way to try to build wealth.

Type B: Portfolio Income like stocks and bonds. You are getting taxed at the second highest level on portfolio income. You will have a moderately difficult time building wealth with portfolio income.

Type C: Passive Income is the best type income. Examples of passive income is from real estate, royalties and other investments where you invest once for endless streams of income. Passive incomes like these provide the EASIEST method to build wealth.

Rule #2: Convert ordinary income into passive income. Throughout this show we will be sharing examples of how people just like you have converted some of their income to passive income using real estate.

Rule #3: Pay down or eliminate debt as soon as you can.

What do YOU want to accomplish with YOUR mortgage?

I can make the home purchase or refinance loan easy for you.

It is EASY to get started. Just call or text me at 901 482-0354

Email me at Jo@JoGarner.com

Or connect at www.JoGarner.com

Examples

(Jo) Tom King, you are our appraisal expert. How are some ways you see homeowners using their homes to create revenue and riches? (Tom’s observations of how real estate helps owners build wealth over time.

(examples to use if you choose of situations you have encountered??? use of home for running a business from house. Providing home for elderly parent who other wise would be paying for an assisted living facility, paying down mortgage over time, renting out space in the home or on the property , renovating and adding to property to add value, homes that are inherited from deceased family members, income-producing rental properties)

You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, licensed mortgage loan originator. What do YOU want to accomplish with your mortgage? What do YOU want to accomplish with YOUR mortgage? I can make the home purchase or debt consolidation refinance EASY for you. Connect with me at www.JoGarner.com When we come back, you will be hearing Ken Sullivan of Tax Matters Solved. See you back in just a moment.

2nd segment is after 9:15 break from about 9:18Am to 9:30 AM break

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 or health and wellness. Talk Shoppe is made possible by the financial support of its sponsors. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Talk Shoppe sponsor , Realtor Pat Goldstein of Crye-Leike Inc., serving her home buyers and sellers in West Tennessee and North Mississippi. Pat Goldstein, you are known as the “Gold Standard in Real Estate.” Pat Goldstein, what is our Talk Shoppe Tip for Real Estate Pros?

(about a minute or minute and a half) Pat Goldstein shares her tip about parents buying homes in college towns for their college-aged children to live and rent to other students. This creates income to cover the mortgage payment and the home builds equity over the time the student is in college.

(or different tip)

Realtor with Crye-Leike, Inc, serving her home buyers and sellers in West Tennessee and North Mississippi

901 606-2000

TOPICS COVERED BY TOM KING, APPRAISER WITH BILL KING COMPANY

What do you see happening with our real estate values in the Mid-South?
What repairs or improvements can you make to real estate that bring the BEST return on investment?
What repairs or improvements do NOT give a good return on investment?
What are some ways you see homeowners using their real state to make money, bring happiness and make themselves wealthy?

(3^rd SEGMENT 9:35 AM)

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

Ways I have seen how people who own their homes create wealth, happiness and riches

Review Robert Kiyosaki’s Rules for Getting Wealthy we covered earlier in the show

NOTHING DOWN WITH RENTAL FROM EXTRA ROOM THAT HELPS PAY OFF HOUSE EARLY

One of the most memorable Christmas presents for me was the year bought my first house.

Due my landlord being in a tough spot with his bank, as tenants, we were all given very short notice that we would have to move out. This was many years ago when my career in mortgage was just getting started-not a lot of income and very little money to put down. But, Necessity is the Mother of Invention, so my law student house mate and I went scurrying out to find a place that would allowus to live peaceably apart under the same roof and still be able to afford to eat.

It wasn’t what you would call a dream house. It had been a foreclosure and needed a lot of repairs and clean up, but over twenty-five years ago I didn’t have a lot of income and not a lot of money to put down. The house was in the right location, though, with the perfect layout so I could rent out a section of the house upstairs to my law student friend which would help on the mortgage payment. I made a wildly low offer right before Christmas and the bank that owned it accepted my offer but wanted me to close in less than 30 days.

Since I got the price so low, the bank where I worked loaned me the money to buy the house and fix it up. Some rehab guys I knew did fix up job in record time at a record low price. I bought the house with no money down and moved in JUST IN TIME before we needed to be out of the other place. I continued improving this home over the years and paid it off early. It was a SWEET WISH COME TRUE when I lived there and a SWEET WISH COME TRUE when I sold it later on.

Story of Ian Iverson—real estate investor from the Mid-West who started young and small and built his empire

Back in the late 1980’s I met a young man in his twenties that we will call Ian Iverson. We were in San Diego at a real estate investing conference. He and I spent several hours together that week comparing real estate strategies and life goals. What impressed me about Ian is that he had already purchased his first property with little down buying his primary residence. But, since Ian wanted to free up as much money as possible for buying more real estate, he lived frugually in the back bedroom and rented out the rest of his home to a local white collar professional man.

Over the years Ian and I have stayed in touch. He joined his local landlord association in the city where he lives. From some seasoned investors he found some really good investment deals. Ian found a banker who would give him a credit line on the house he already owned to give him the down payment to buy a duplex from one of the investors he knew from the landlord association. Ian plodded along year after year, one property at a time, buying and sometimes fixing up property but keeping them all for rental income. Through many good times and bad, slow but sure, Ian planted his financial seeds (his investment money and his time) to gradually build his real estate empire. Today Ian is in his 50’s and does not have to work. He lives well with his family out in the country with land, a barn and horses. He is living his dream. People like Ian are an inspiration to persevere through the uncomfortable times, stay frugal, invest his money like planting seeds into real estate that sprouts and produces more and more seed that Ian continued to plow back into improving the homes he owned and getting more and more in rent while his property continued to go up in value.

Other Ways to Create Income, Happiness and Riches from Real Estate

4^th segment following 9:45 am break about 9:48 to 9:56 am

REAL ESTATE TIP OF THE WEEK

Pat Goldstein, Realtor of Crye-Leike, has about a minute or so to share a real estate tip

Tip: When you own your home and have built up equity over the years, you have the opportunity to pass down this valuable asset to help your loved ones at the time of your death.

There are many details you need to attend to before your passing to make the inheritance process smooth and profitable for your heirs

Pat Goldstein has earned specialized training and experience in dealing with properties connected with probate.

If you are renting, the next thing that happens to the place you called home, the landlord cleans it up and rents it to the next guy. Your loved ones get nothing from the years you paid your hard-earned income to live there.

When you OWN your home and have paid down your mortgage and allowed time and appreciation to add even more value to the house you called home—-you get to hand it down to help those loved ones you leave behind. They will remember fondly that you helped them.

Tom King, Appraiser with Bill King Company

Tip: When you are buying or selling a home where a government FHA loan is involved, remember that FHA loan guidelines require a minimum 18 inch clearance in the crawlspace from the ground to the bottom of the floor joist. If the house is built on a conventional foundation with a crawl space underneath the house and the clearance is less than 18 inches, ask the loan officer for a Conventional loan and avoid the FHA financing programs.

Jo Garner’s mortgage tip:

Tip: Jo tells the story of a recent closing with a mortgage client who could not stop smiling. This client used a special loan program for first-time homebuyers that allowed him to obtain a mortgage with an interest rate close to two interest rate points below the market interest rates. This client was saving around $400 per month as compared to non-specialized, traditional financing programs

Ask your loan officer to search out these special programs that might apply to you. Don’t leave money on the table.

Connect with Jo Garner, licensed mortgage originator/author of the book “Choosing the Best Mortgage-The Quickest Way to the Life You Want” at (901) 482-0354 Jo@JoGarner.com www.JoGarner.com

ANNOUNCEMENTS FROM SPONSORS:

Talk Shoppe offers free networking & education to anyone interested in real estate or in business or in health and wellness. Talk Shoppe meets every Wednesday 9A-10A CT at Concorde Career College 5100 Poplar the 1^st floor in the Memphis Clark Tower and also on zoom. Go to www.TalkShoppe.com and click the Events tab for the link to get into the event online. This Wednesday September 6^th, 2023 “Tips From the Experts on When and How to Improve Your Homeowner Claim Experience” from this panel of experts: Lynn McDonald of Erin McDonald Insurance Agency 901 849-7101; Ed Hill of Masters Roofing Memphis 901 273-6594; Brett Carter of ServiceMaster by Cornerstone 901 832-6005

Talk Shoppe could not offer the free educational networking events free to our community without some very giving sponsors. Thank you to Talk Shoppe sponsors Tim Flesner and Genell Holloway, owners of Home Helpers Home Care offering your loved ones who need non-medical assistance the help they need to remain safely in their own home. Talk with Home Helpers Home Care at 901 414-9696.

Thank you to Talk Shoppe sponsor, Peggy Lau of Club Seacret. Peggy can tell you how to earn first-class vacations as you go through your normal routine of living everyday. Contact Peggy Lau of Club Seacret at 901 289-0747.

It is a beautiful weekend in Memphis. Head down to the new Tom Lee Park.

Make some great memories for yourself and others this Labor Day weekend.

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

5. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

LEGAL STUFF: SPECIAL NOTE: 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.. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND 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.

QUOTE CORNER : “The poor and middle class work for money. The rich have money work for them.” Robert Kiyosaki

____________________________________________________________________________________

REJOINDERS:

Sherry Harbur of www.HarburRealty.com
Ed Hill of Masters Roofing Memphis (901) 273-6594
Real Estate Attorneys Rob Draughon and Shelley Rothman of GCEM Law

Transition Music: “Sixteen Tons” by Tennessee Ernie Ford; “Money, Money, Money” by Abba; “Good Life” OneRepublic; +

“Taking Care of Business” Bachman Turner

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.

Now on Amazon and Barnes and Noble

TOM KING, APPRAISER WITH BILL KING COMPANY

Tom is a well- respected and sought after appraiser in Memphis, Tennessee. He is a second generation appraiser with 40 years of experience. He has been elected to the Memphis Area Association of Realtors Board of Directors three times.

Tom is a certified residential appraiser in Tennessee. He have appraised over 20,000 homes in his career. A graduate from the University of Tennessee with a degree in real estate, Tom is also a Certified Relocation Professional (CRP). Tom also has vast experience in dealing appraising real estate for pre-listing sales, cash buyers, divorce settlements, estate settlements. (901) 487-6989

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE?

www.JoGarner.com (901) 482 0354 jo@jogarner.com twitter @jogarner NMLS# 757308

(currently working with Cardinal Financial Company, Limited Partnership NMLS #66247 equal housing opportunity 2645 Appling Rd 102 Memphis, TN 38133 ) Online loan application https://online.cardinalfinancial.com/#/p/apply/jogarner

www.cardinalfinancial.org for licensing info www.nmlsconsumeraccess.org/EntityDetails.aspx/company/66247 “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 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 25 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 25 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.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 and Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”

P: (901) 482-0354 | E: Jo@JoGarner.com