Hammer to Homeownership: Winning the Auction and Financing the Dream

Hammer to Homeownership: Winning the Auction and Financing the Dream

Have you wanted to buy a home or something else at an auction but just didn’t know how to do it? Today on Real Estate Mortgage Shoppe we will walk you through how people win at auctions.

Host: #JoGarner #MortgageLoanOfficer 901 482-0354

Co-host: #LanceWalker #WalkerAuctions walkerauctions .com

Featuring: #TroyMcDonald #LynnMcDonald Erin McDonald Insurance Agency 901 849-7101

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

1^ST SEGMENT 12 MINUTES

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 September 26th, 2026 is: “Hammer to Homeownership: Winning the Auction and Financing the Dream”. Thank you to attorneys Shelley Rothman and Rob Draughon of Griffin, Clift Everton and Maschmeyer Law Firm for sponsoring this episode. When you are ready to buy a home or refinance one, call Rob and Shelley for the title work and closing. 901 752-1133.

(Jo) Introducing Lance Walker, Auctioneer of Walker Auctions

He’s Baaack! Lance Walker, Fast-Talker, Auctioneer from Walker Auctions in the studio. Lance, you founded Walker Auctions LLC 46 years ago and you and your wife specialize in conducting real estate, personal property and benefit auctions throughout the United States. You write a monthly article for The Best Times publication. You and your wife, Terri, host a radio show right here on this station The Mighty990 every Saturday 10AM Central. Terri was voted number one auctioneer in the country. You served as President of the National Auction Association. You guys are celebrities. Tell us a little bit about yourself and the services you offer your clients. (Lance has about 1.5 minutes to intro himself and talk about the services he offers through Walker Auctions….)

(JO) Have you ever thought about buying something at an auction—maybe even a house—but you didn’t because you felt like you didn’t know enough about how to go through the auction process? Today is your day to move past that barrier. You don’t even have to remember everything we say. Just remember how to contact us and we can give you the tools and show you the way people win at auctions and finance their dream.

Know your personal comfort level on a monthly mortgage payment and how much you can pay down and still leave adequate emergency funds in the rainy day account.
Explore the best mortgage program option with your lender. Get a preapproval letter to strengthen you as a buyer
Know what home is going to meet your needs as your primary residence or as a rental property. If possible, inspect the property before the auction .

Common Financing Programs Used to Buy Auctioned Real Estate

Traditional mortgages from Fannie Mae, Freddie Mac, FHA, Veterans Loans, USDA Rural Housing loans. Permanent, outside-the-box loans, that allow less restrictions. These take about 30 days or so to close, so you will need to be reapproved and have the ability to pay for the auction house within 30 days of the closing.
Temporary loans from private lenders or hard money lenders to have fast cash to pay for the property and do repairs if needed. These temporary loans are good for about 6 months, even though some lenders will let you use the money at a high price for one year. The purpose here is to use it to buy and fix up the property so that you can refinance to a more permanent loan.
Tip to the wise- If you are using a temporary loan, make sure you structure it as one loan to cover the purchase and any repairs you will need to do. Some of the better permanent loans want to make sure you have owned the home for 6 months to a year before they will give you cash back over and above what is owed on the first mortgage. If you have one mortgage that includes the purchase and repairs, you are only refinancing to a permanent mortgage and paying off that one mortgage, and no requirement to own the home for several months.

KEYON, USES A TWO-STEP FINANCING PROCESS TO BUY A MONEY MAKING RENTAL PROPERTY

• Key tip: “Even if you can’t close with a traditional loan before auction day, you can refinance right after you win.” Keyon’s story of buying with quick temporary mortgage and later refinancing with me on a more permanent loan once the home was repaired.

Keyon figured out a long time ago, the way to make money was to own income-producing real estate—and a lot of it. He used hard money, private mortgage lenders—temporary mortgages to go buy a house in unrepaired condition at a discount price from the seller. Keyon already had his permanent, outside the box mortgage preapproved through me. This particular outside-the-box loan he had through the mortgage company where I work, was the DSCR loan for investors that allowed him streamlined documentation and he could put the title in the name of his Limited Liability Corporation for added protection. Keyon closed quickly, buying the house in unrepaired condition and used the temporary private mortgage until he had completed renovations at the house he bought. Then he refinanced with me with the DSCR program or investors and paid off the more expensive temporary loan.

(Jo) Lance Walker Fast Talker with Walker Auctions, you are THE expert on how to buy at auction. We have 3 or 4 minutes before we go to an advertising break. Let’s get started talking about auctions and we can continue again after the break. (Lance starts launching into some of his topics until break. (about 3 minutes)

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 Lance Walker, Auctioneer with Walker Auctions. Also, Lynn McDonald, home insurance expert with Erin McDonald Insurance Agency. See you back after this ad break.

2nd segment is after first break 8 minutes 50 seconds

( Waaka Waaka song in background ) COMIC QUERIES (you probably already know the

(JO ) Riddle #1: The Fast Talker

Question: I can talk a mile a minute, drive people to spend their life savings, and make thousands of dollars in mere seconds—yet I spend my entire career trying to get rid of everything I own. What am I?

(LANCE) Answer: An auctioneer!

(LANCE ) Riddle #2: Can you guess who was bidding at the auction before the end of this story?

While there, he bid on a parrot. He really wanted this bird, so he got caught up in the bidding. He kept on bidding, but kept getting outbid, so he bid higher and higher and higher. Finally, after he bid way more then he intended, he won the bid- the parrot was his at last! As he was paying for the parrot, he said to the auctioneer, “ I sure hope this parrot can talk. I would hate to have paid this much for it, only to find out it can’t talk!” “Don’t worry,” said the auctioneer, “He can talk. Who do you think kept bidding against you?”

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Hammer to Homeownership: Winning the Auction and Financing the Dream”

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

Lance Walker, Auctioneer with Walker Auctions www.WalkerAuctions.com

2^ND SEGMENT 8MINUTES 50 SECONDS

TALKSHOPPE TIP

Troy and Lynn McDonald of Erin McDonald Insurance Agency

(901) 849-7101

Talk Shoppe is one of our major sponsors on Real Estate Mortgage Shoppe. Talk Shoppe offers free networking and education to our local business, real estate and health and wellness community. If you join the Talk Shoppe Sponsor team, you can get a wide variety of marketing venues at a below-market price. www.TalkShoppe.com

It’s time to talk shop with Talk Shoppe’s Tip. 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 Tip today we have Talk Shoppe sponsors Troy and Lynn McDonald of Erin McDonald Insurance Agency. Troy and Lynn McDonald, you two are models for excellent customer service. You take the extra time to help your clients make the right adjustments so they get the best coverage for the best price. Troy and Lynn McDonald, what is our Talk Shoppe tip today?

Troy and Lynn’s tip: (about 1 minute for tip) WARNING: If a home you own is vacant and an incident causes an insurance claim, you may NOT be covered if you do not have an active VACANT HOME insurance policy in place at the time of the incident. Contact your insurance agent for temporary vacant home insurance if your property will not be occupied for a while.

_____________________________________

TOPICS COVERED BY LANCE WALKER, AUCTIONEER OF WALKER AUCTIONS

One thing that we all have in common is that if we live long enough, we will one day be a senior citizen.

Seniors face challenges just like teenagers young adults or someone who is middle-aged.

A challenge for many seniors is getting rid of their stuff as they are transitioning to a smaller living space.

The question for many seniors is what is the best way for me to downsize. If you are a child of a senior and you’re helping in this process, you may be responsible for handling this issue.

-you may be what is the best way for my parents to downsize and transition into a different living space?

Along with that question is, where is the best place for a senior to relocate if indeed that’s what I should do? Perhaps an apartment, a smaller house, a senior living retirement home, or move in with the children.

The solution to this problem requires some planning. In order to properly downsize you need to decide where you’re going. That will help you decide what you should keep and what you should dispose of.

Once you’ve decided where you’re going, taking an inventory of your possessions and ask yourself “is this something that will fit in my new living quarters or will it just be in the way.”?

In our experience in helping hundreds of seniors in this process, we have learned that most seniors keep more than they need and regret not selling it prior to their move.

So what is the solution in selling your assets when it’s time to move? It’s very simple.Call Walker Auctions, give us the key and we’ll do the rest.

Experience, reputation, past results,accommodating to work with invested in their profession.

In our business of helping seniors through this process, we have found the most common things that need to be sold. are the house, most of the contents of the house, and a vehicle.

We have the proper license and experience to do all of those things.

SEGMENT 12 minutes

( Small Victories Song by Allen McCool playing in background)

For Did You Know today…(see if you can guess the answer before we do)

(Troy McDonald to ask the trivia question) What is the name of the famous songwriter, actor, and singer who amassed items from 1980’s Memphis Design collection as a Secret Collector?

(Lynn McDonald ) Hint #1 Memphis lent its name to a polarizing postmodern art movement known as the Memphis Group (or Memphis Design). Characterized by neon colors, asymmetric shapes, and bold geometric patterns, the style was highly controversial in the traditional art world.

(Jo Garner )Hint# 2 The Secret Collector had quietly amassed one of the largest private collections of the movement’s furniture and design pieces in the worldThe $1.7 Million Gavel Drop: When Sotheby’s put this art and furniture collection up for auction, the Memphis Design it fetched a staggering $1.7 million dollars.

The Secret Collector’s identity was not revealed until after his death in 2016. Who was this famous Secret Collector?

(Lance Walker gives the answer : The Secret Collector turned out to be the English musician David Bowie)

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Hammer to Homeownership: Winning the Auction and Financing the Dream”

Lance Walker, Auctioneer with Walker Auctions www.WalkerAuctions.com

Troy and Lynn McDonald of Erin McDonald Insurance Agency 901 849-7101

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

Joe from Digginfordeals.com sells his home at auction

The voice on the other end of the phone sounded angry. He needed to know what his house was worth, and he didn’t want to play games. He said it wasn’t in great shape, but what he really meant was he wasn’t in great shape. Turns out, Joe had been diagnosed with an inoperable brain tumor. He’d worked all his life, really wanted a family, but things hadn’t turned out perfectly. The house was paid off, but it needed maintenance, and the taxes kept going up.

Joe used a real estate auction to sell his home. He had to property listed to sell at auction and got several thousand dollars over what he thought he could get and the home sold as is without Joe having to do the repairs. The home sold in 30 days and Joe was thrilled. The money was a Godsend to assist with his medical care. Or, he thought he might just buy a motor home and travel. Either way, the sale was fully transparent with no monkey business – a win-win for both the buyer and seller.

Financing to Buy a Home with Funding Secured on a Different Asset

There are many cases and situations, like with a real estate investor we will call Molly. She wanted to buy a home that was in such poor condition that the mortgage company would not accept it as collateral. Molly found a way to get some money to pay cash for the fixer-upper. We did a mortgage secured on one of the other homes Molly owned that was in good condition. She used the cash out refinance funds from that mortgage to pay cash to buy the fixer-upper property.

MR. AND MS. LANCASTER-BUYING HOME NEEDING REHAB-203K

Mr. and Ms. Lancaster (not their real names) found a house in the country and close to other family. It had a perfect layout for enjoying their retirement with a bonus room for entertaining their grandchildren when they came to visit. The property was priced well below the other homes, making it very affordable to the Lancaster’s on their income. It was truly a needle in a haystack

The flaw in the arrangement was that there was rotted wood that needed to be replaced and painted. There were some fixes that needed to be made to the electrical systems. The Lancasters were in a Catch-22. The mortgage company would not allow them to close on the home until the repairs were done. But they couldn’t make the repairs until they owned the house.

The solution? An FHA 203K Renovation and Repair loan. Even with the price they paid for the home and the cost of the repairs, the home was worth quite a bit more than they had to spend. The Lancasters had quite a celebration day at closing and bragging rights when they went home to their new digs.

Call me and let’s explore some ways you may be able to save thousands of dollars with a home purchase mortgage or a refinance, combining higher-interest rate debt into one mortgage. I want to hear your story. Call me or text me at 901 482-0354 www.JoGarner.com We can find the right mortgage and make the mortgage process easy.

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 & INSPIRATION Jo shares this story

The Auction That Kept Giving

He was famous around the world, but one of his greatest passions happened far away from the spotlight.

He loved cycling and collected more than a hundred bicycles. He also quietly supported organizations helping people with physical disabilities live fuller, more active lives.

After his death, his three children decided his collection could continue that work. They donated 87 of his bicycles to a charity auction.

Bidders responded from around the world. When the auction ended, those bicycles had raised more than $600,000 for two organizations their father deeply cared about.

His children had turned something he loved into something that could help others.

Maybe that’s the real measure of what we leave behind: not what our possessions are worth—but what good they can still do.

That remarkable father was famous and very funny actor and comedian, Robin Williams.

Do you want to leave a legacy to your loved ones or a charity next to your heart? I believe you can accomplish ANYTHING owning real estate when you buy it right and take care of it. If you want to buy a home, a vacation home or some investment property, I can help you with the right mortgage program and we will make the process easy. If you need to finance the repair on these properties, we can find ways to finance and get you money you didn’t know you had. Connect with me as your mortgage loan officer at 901 482-0354 or JoGarner.com

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Hammer to Homeownership: Winning the Auction and Financing the Dream”

Lance Walker, Auctioneer with Walker Auctions www.WalkerAuctions.com

Troy and Lynn McDonald of Erin McDonald Insurance Agency 901 849-7101

REAL ESTATE TIP OF THE WEEK

Troy McDonald’s and Lynn McDonald’s Tip: If you own a home or maybe you own rental property too, consider purchasing an UMBRELLA INSURANCE policy for more than enough to cover your assets. Lawsuits happen and can cost you big if you get sued. The umbrella policy can cover you in a number of ways to cover big claims.

Jo Garner’s tip :

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:

Thank you to one of our major sponsors. Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. (Thank you Talk Shoppe’s location sponsor, One City Church 120 N East Yates Rd Memphis, TN. One City Church “One City Church, where making a difference starts with proving love works” )

This Wednesday September 30^th, 2026 9AM Central be a part of the Talk Shoppe supportive group for The Mastermind Principle-based on the book Think And Grow Rich by Napoleon Hill.

Connect with people like Talk Shoppe’s newest sponsor Robert Anthony, creating A.I. Workflows for your business Connect with Robert at www.Visidex.com

Yesterday was 9-25-Dolly Parton Day. Got to love Dolly Parton. What a giver she was! Speaking of giving and being charitable. Lance Walker, auctioneer with Walker Auctions, thank you for being the auctioneer for Talk Shoppe’s charity auction to benefit the Neighborhood Christian Center young people. Thank you to Lynn McDonald, Talk Shoppe’s Charity Chairman and Troy McDonald for being such an entertaining Master of Ceremonies.

(Lance and Lynn and Troy to invite our listeners to contact Lynn to donate a gift card for the auction and to attend to bid on the mystery purses)

Troy and Lynn McDonald (dressed as Ma and Pa McDonald representing the Talk Shoppe Charity Auction for the Neighborhood Christian Center

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 “How can you tell you’re getting old? When you go to an antique auction and three people start bidding on you.” Anonymous

ACKNOWLEDGMENTS AND CREDITS

REJOINDERS:

Chuck Bohannon, booking agent for Santa Claus 901 619-6436
Leah Anne Morse of All Things New Moving company (901) 488-9733
Donna Roach of Hearthside Senior Living 901 651-2503

Transitional Music: First Segment “WAAKA WAAKA” (PD) for Comic Queries; “Small Victories” ” by Allen McCool ( www.allenmccool.com )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

Walker Auctions LLC 2749 Park Ave. Memphis, TN 38114 901:922-5609

Lance@WalkerAuctions.com www.WalkerAuctions.com

Lance Walker founded Walker Auctions LLC 45 years ago and specializes in conducting real estate, personal property and benefit auctions throughout the United States. Walker has been involved in over 3000 auctions throughout his career.

In the Memphis area he heads the Walker Auctions real estate division working with sellers and fellow Realtors in selling houses, land and commercial property that would best sell using the live or online auction format. He and his auctioneer wife Terri have pioneered the sale of real estate and personal property using an online auction format in the Memphis area through the MarkNet Alliance online auction bidding portal.

The active auctioneer recently served as President of the National Auction Association. He was named to the Tennessee and Missouri Auctioneer’s Hall of Fame. He also has M.S. and B.S. degrees in Education, is a graduate of the Certified Auctioneers Institute at the U. of Indiana Bloomington and the Certified Estate Specialist program through the National Auctioneers Association. Walker was elected to the NAA Board of Directors and has served as President of the Missouri Auctioneers Association and Vice President of the Tennessee Auctioneers Association. Walker was once featured on a TV episode of Hoarders and the “You Bet Your Life” TV program. He hosts and produces an hour radio program and podcast on KWAM 990 called “Time to Sell “and writes a monthly article for The Best Times publication with the same title. Walker has served as anchor on the annual NAA IAC Live broadcast which was founded by his wife Auctioneer Terri Walker several years ago.

He also has the reputation of being a leading benefit auctioneer and is very active in conducting numerous benefit auctions each year throughout the United States. These charities raise millions of dollars annually through the production of successful fundraising events where Lance is involved as auctioneer and advisor. Walker co-wrote the Benefit Auction Specialist curriculum for benefit auctioneers and taught the course to hundreds of auctioneers through the National Auction Association. He recently presented an auction seminar via a webinar to 1500 Chinese auctioneers. He is working with his wife on a documentary about auctioneering that should be released next spring.

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”

Hammer to Homeownership: Winning the Auction and Financing the Dream

Joe from Digginfordeals.com sells his home at auction

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