What kind of legacy do YOU want to leave for your family, your friends? Time spent with those you love? A model of honest living and bravery? Financial wealth? We are sharing some proven ways people have gained more wealth quicker owning real estate. Here are some steps you can take to protect your assets and leave a legacy to those you love.
Host: #JoGarner #MortgageExpert (901) 482-0354
Co-host: #PrestonWilson #EstateAttorney preston@prestonwilsonlaw.com
Special Guest: #GenellHolloway #healthandmedicarebenefits 901 270-1127
Subscribe for weekly Real Estate Mortgage Shoppe podcasts and 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 general topic QUICKER WAYS TO BUILD WEALTH & LEAVE A LEGACY THROUGH REAL ESTATE
Today is November 9th, 2024 Call us in the studio while we are live at 901 535-9732. This episode of Real Estate Mortgage Shoppe is sponsored by real estate attorneys Rob Draughon and Shelley Rothman of Griffin, Clift, Everton, Maschmeyer Law Firm. For title work and closing on your home purchase or refinance, call Rob and Shelly at 901 752-1133.
Introducing Preston Wilson, Estate and Probate Attorney
Happy Birthday, Preston Wilson! Preston Wilson, an estate and probate attorney, is back in the studio ready to answer your questions. Preston, you did a great job for some mortgage clients of mine, who needed to help a family get through the probate process. I have heard others in our networking groups speak highly of you and your work. (Preston Wilson has about 1.5 minutes or so to introduce himself and talk about the services he offers his clients.)
(Jo) Most everyone has heard of John D Rockefeller, the first man in the world to become a in the late 1800’s. He had focused his life on building personal power and wealth, and was clearly winning because of his immense riches. Suddenly, at the age of 53 John D Rockefeller fell ill. His doctors told him he had less than a year to live. Rockefeller grappled with the fact that his life was at an early end and, with all of his accomplishments, why did he feel so empty? What Mr. Rockefeller did next has been bringing hope and prosperity to many—even after ONE HUNDRED YEARS we are still enjoying the benefits of John D Rockefeller’s legacy.
Rockefeller set a new goal- to try to give ALL of his wealth away before he died. Every day he gave away massive amounts of money and wealth to meet his new goal. But, a funny thing happened. The more Mr. Rockefeller gave away, the more his body healed. He lived to be 98 years old. The more he gave away, the more healing and other blessings came back to him. He wrote in his diary, “My life has been one long, happy holiday; Full of work and full of play I dropped the worry on the way and God was good to me every day. “
What kind of legacy do YOU want to leave for your family, your friends? Time spent with those you love? A model of honest living and bravery? Financial wealth. You have an opportunity each day to do something purposely toward building the legacy you want to build. What one thing can you do today to build YOUR legacy?
Veterans Day is Monday. I can think of many ways our soldiers past and present have left us a valuable legacy. Thank you for your service. Some of us had parents, grandparents and others who supported us with encouragement and the resources we needed to make a go of it in life.
Two of my mortgage clients happened to be in my family. They were hard workers and believed in giving to others. They were good at keeping a tight rein on the budget. They made sure the needs were met and there was money left over to go on vacation and have some fun times. This family stuck to their plan for several decades. They gave a certain amount from each paycheck. They invested a certain percentage of their paycheck. Most importantly, they invested their time to spend with friends and loved ones. Their dedication to financial investment and time spent with others, made for a comfortable retirement and a legacy they could pass down to their children and grandchildren.
You may be thinking, I am getting on up in life and it is too late for me to invest. Someone said, “It is never too late to start a good habit.” Some of my mortgage clients got a late start buying their home, but they bought their home and today it has increased in value. They spent time with people they love in that home and today, those relationships have grown.
I believe you can do ANYTHING in life you want to do if you buy real estate right, take care of it and pay off the mortgage. Do this multiple times and you can do even MORE in life. Homes have increased in value over 800% since 1967. We saw exceptional increases in home values over the last four years. If you can buy your home, pay a little extra to get rid of the mortgage sooner, your house id
Are you short on funds to buy a home? There are assistance programs out there for first-time homebuyers and people who are NOT first-time homebuyers too. Are you having a hard time documenting enough qualified income for your mortgage lender? There are some solutions to get over that challenge. What does your credit look like? There are steps you can take to clear up credit too.
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
(Jo) Preston Wilson, you are our expert probate and estate attorney today. You have helped countless people protect their assets and leave a life-changing legacy to others and to people they love. Let’s take a couple of minutes to jump into some of your top advice regarding wills and estates. When we come back from break, you can continue giving us your tips and great advice. has a couple minutes to launch into his topics until 9:15 break. We can continue 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 Estate & Probate Attorney Preston Wilson and Genell Holloway of Eagle Hollow Enterprises has a tip for us regarding our health benefits.
2nd segment 9:18 am – 9:30 am
2nd segment is after 9:15 break from about 9:18Am to 9:30 AM break
(901) 270-1127
LET’S TALK SHOP—TALK SHOPPE’S 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 on queue) 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, Genell Holloway of Eagle Hollow Enterprises . Genell has helped so many people make good decisions about getting affordable health benefits. Genell, We are in the open enrollment period for our health benefits and medicare . Genell, What is our Talk Shoppe Business Tip for Real Estattoday? Has about 1 minute or so to share a tip (Jo says, “Thanks, Genell. How do we contact you?
TIP: Open enrollment season is now!! While health insurance is an important piece of your financial protection plan, there are two other parts for your portfolio. Life insurance and cancer insurance. Many health insurance plans – both group and individual plans – will have a maximum out of pocket coverage. Having at least $10,000 cancer policy can truly make a difference in your financial situation. Call me today to further discuss how we can help you avoid a financial crisis in the midst of a medical crisis.
TOPICS COVERED BY ATTORNEY, PRESTON WILSON
1. Will vs. no Will. The Will the state of Tennessee has written for you if you don’t prepare your own.
– Allow one to control where your property goes when you go,
AND to avoid/reduce conflicts in the family
– Definition of estate planning.
– Wills are especially Important in blended families.
2. Dealing with mental incompetence:
– conservatorships
– Powers of Attorney
– Trusts
3. Importance of estate planning for small business owners;
having a Business Succession plan in place.
“What would happen to the business if something.
happened to you”?
Business owner who cannot answer that Q is committing
Business malpractice to employees, customers, AND
Robbing heirs of the value of the business s/he built.
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3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Here are some ways people build wealth quicker to enjoy their legacy
Buy Now, Invest in a Future for a Better Life- Some of my clients are renting and buying their first home with a payment less than what they would pay in rent or at least close . This has been happening numerous times with young families having children and wanting room to grow.
Adding income-producing properties to create growing wealth and a positive income.
Customers selling or renting their current home and downsizing to make life a little simpler. Also people who are buying rental property with the plan that the rental income will supplement their pensions .
Eddie Eddleman’s-How He Eliminated 8 years off his mortgage saving $58K
The most important tool to use for determining the fastest way to pay off a mortgage early with the least amount of investment is the amortization schedule. You can get them free by googling “Mortgage Amortization Calculator.” Be sure you enter your original loan amount and the date of your first payment, including the year. Then scroll down to the balance that matches your current balance, draw a line and add up the principal portions of each payment after the regular full payment. You can also use the schedule you got when you financed your loan—it should be in your closing papers. Or call me and I can walk you through it. The earlier in the mortgage you start prepaying the principle the more interest you will save with the least amount of money out of your pocket because a larger part of the principle and interest payment makes up the interest compared to principle in the beginning of the loan rather than at the end.
Example:
Eddie Eddleman, a military veteran gets bragging rights eliminating 8 years off his mortgage.
Loan amount $200,000 30 year term principal and interest payment $953/month.
Eddie pays an extra $953 P&I once a year.
Total principal and interest payments if he did NOT pay extra payment each year $953 X 360 months= $343,080
Paying one extra P&I payment each year for 23 years $21,919
Total payments over 23 years (276 months) including extra payments =$284,947
SAVINGS in total payments =$58,133
THE POWER OF WEALTH IN REAL ESTATE TO MAKE YOU THE HERO PROVIDER TO YOUR FAMILY
DIVORCED, REMARRIED WITH CHILDREN. “I WANT TO PROVIDE WELL FOR MY CHILDREN & ONE DAY MY GRANDCHILDREN.” Kaylen Kraemen’s Story
Kaylen recalls, “Those were tough years for my daughter KeKe. The divorce was hard on me and she was just a little girl going through a rough time too. Then I remarried and things were better but I always wanted to help my daughter and one day my grandchildren in ways I could not do when I was a struggling single parent.”
Now Kaylen Kraemer’s daughter was grown and about to be married. Kaylen knew the perfect gift to give her daughter—the house where Keke had grown up. Kaylen still owed on a mortgage for about 30% of the value of the home. She had kept the home to rent to tenants after remarrying and moving in with her new spouse. Now Kaylen could greatly help her daughter get a head start in her new marriage. A gift of equity was a way that Kaylen could help her daughter and hopefully her future grandchildren have a better life.
Kaylen and KeKe signed a home purchase agreement with Kaylen selling the home to KeKe for price just high enough to cover the small mortgage Kaylen still owed and to cover closing costs. KeKe got approved for a mortgage. The mortgage company showed the money down coming from KeKe’s mother in the form of a Gift of Equity. This allowed Kaylen to pay off the mortgage on that property and her daughter’s down payment and closing costs were paid for by Kaylen as a gift of equity.
As a mortgage loan originator I see lenders working to provide just the right loan products to meet the needs from these trends. Then, we make the mortgage process EASY
4th segment following 9:45 am break about 9:48 to 9:56 am
REAL ESTATE TIP OF THE WEEK
Genell Holloway’s tip: (about one minute or so)
None of us plan to pass away but it is definitely a certainty. I recently had a young friend who died tragically. He left behind a beautiful wife and two small children. Sadly, there was no life insurance benefit to help this young family. A term life insurance policy for a young adult is not expensive. A 52 year old man recently got $100,000 term life insurance for $50/month. Call today for further details on how you can protect your family.
Oh yeah! It’s open enrollment season. I’ll help you find the right coverage that best fits your budget. Call today!
Preston Wilson’s Tip: (about 1.5 min)
Jo Garner’s mortgage tip
Do you want to know how to build wealth quicker and secure a valuable legacy sooner?
More millionaires are made owning real estate. If you are renting explore your homeownership options. But, if you want to profit the most from real estate, buy now and don’t wait too late. If you don’t like the interest rate, that’s ok if you can afford the home. We can always refinance your mortgage when and if rates go lower
Set up a regular plan to make prepayments to your mortgage principal balance. Only making one extra principal and interest payment a year can knock eight years off a 30-year mortgage
Stay to a budget where you can give the first 10%, invest another 10%, pay taxes and live on the rest of the 80%. Investing can grow your wealth compounding upon itself. Remember the story we told earlier in this show about John D Rockefeller? Giving pays dividends from the heart that will keep you happy for a lifetime.
Make your plan. Let’s work your plan. If the deal works for you today, let’s do it today. Contact me for exploring your mortgage options at 901 482-0354 and at www.JoGarner.com Connect with me, Jo Garner,licensed Mortgage Loan Officer, at JoGarner.com (901) 482-0354.
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 Concorde Career College 5100 Poplar Ave 1st floor Memphis, TN (Clark Tower).
Go to www.TalkShoppe.com and click the Events tab for the link to get into the event online. This Wednesday November 13, 2024 9AM CT Have fun bidding on mystery purses at the Talk Shoppe “Old Bag” Charity Auction to benefit the young people at the Neighborhood Christian Center. Each bag contains a $50 value and some bags contain $100 or more in value.
Lance Walker of Walker Auctions www.walkerauctions.com will be the auctioneer.
Talk Shoppe could not offer the free educational networking events free to our community without some very giving sponsors.
Thank you to Talk Shoppe sponsor Donna Roach, Executive Director of Hearthside Senior Living in Bartlett, TN. The philosophy of Hearthside Senior Living evolved from a rich heritage of caring FOR people and caring ABOUT people. Your surroundings are gracious and encourage relaxation, reflection, wellness, and fine living. Call Donna today to consult with her about options for assisted living and other types of care facilities for your cherished loved ones. (901) 651-2503
Talk Shoppe is free to you because of the generosity of our sponsors like Manny Corless and Ben Hunter of Independent Planning Group. Contact Manny Corless mcorless@iplanninggroup.com or Ben Hunter at benhunter@iplanninggroup.com
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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.
6. Subscribe today for weekly podcasts with show notes at www.JoGarner.com
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. 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 best legacy we leave is not for our children but IN our children” Deborah Roberts
“If you are going to live, leave behind a legacy. Make an impact on the world that can never be erased.” Maya Angelou
REJOINDERS:
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Lynn and Troy McDonald of Erin McDonald Insurance Agency 901 849-7101
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Ed Hill of Masters Roofing 901 273-6594
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Sherry Harbur of HarburRealty.com (West TN and North Missisippi)
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Transitional Music: “Better Life” by Keith Urban; “New Attitude” by Patti Labelle; “Live It Well” Switchfoot; “Taking Care of Business” by Bachman Turner Overdrive for talk shoppe business tip
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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
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ABOUT PRESTON WILSON, ATTORNEY WITH PRESTON WILSON LAW FIRM
Proudly Born and Raised in Memphis, TN
Experience matters, especially when it comes to practicing law. I’m a true Memphian, born and raised within the community that I now continue to serve, practicing law since 1978. My passion for providing my clients with a great experience is as deep as my roots.
Why Go With Preston?
His passion for people makes a big difference…
With well over 35 years of experience serving the Memphis community, Preston combines his vast legal knowledge with a genuine commitment to your well-being. He’s not here just to offer advice; he’s here to provide understanding, clarity, and peace of mind. Preston is a trusted partner on your journey through life’s legal intricacies.
Whether you’re planning your estate, navigating probate, considering bankruptcy, or seeking counsel on business matters, Preston’s expertise is your compass.
What truly sets Preston apart is his down-to-earth approach and deep roots in Memphis. He’s not just your attorney; he’s your neighbor, your friend, and a pillar of the community. With Preston by your side, you’re not just a case; you’re a person with unique needs and dreams, deserving of personalized attention and unwavering support.
RESUME
P. PRESTON WILSON, JR. Wampler, Carroll, Wilson and Sanderson, PC
208 Adams Avenue
Memphis, Tennessee 38103
901/523-1844
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EXPERIENCE: Practicing attorney in Memphis, Tennessee, for 45 years.
Practice has primarily been business oriented, focused on commercial law and litigation; bankruptcy; probate, estates and estate planning; and business organizations and asset protection.
Chapter 7 Bankruptcy Panel Trustee from1991to 2007; extensive experience in all aspects of bankruptcy and commercial law, representing both creditors and debtors.
Additional experience includes criminal law matters in state and federal courts, appeals in state and federal courts, and military law.
PROFESSIONAL: Wampler, Carroll, Wilson & Sanderson 2019-present
McNabb, Bragorgos, Burgess & Sorin 2015-2019
Gotten, Wilson, Savory & Beard 1995-2015
Evans & Petree 1982-1995
Merrill, Gilliland, Wilson & Russell 1979-1982
Solo Practitioner 1978-1979
U.S. Army JAG Corps 1974-1977
MEMBERSHIPS: Memphis Bar Association
Board of Directors, three terms
Small Firms Section, Chair two terms
Bankruptcy Section
Business Law Section
Estate Planning and Probate Section
Tennessee Bar Association
Business Law Section
Estate Planning and Probate Section
Mississippi Bar Association
Business Law Section
Estate Planning and Probate Section
National Network of Estate Planning Attorneys
Mid-South Estate Planning Forum, President, two terms
Memphis Estate Planning Council
ORGANIZATIONS: Grace-St. Luke’s Episcopal Church, Vestry three terms; Boy Scout Troop 34, Troop Committee Chairman three years; Visiting Nurses Association, Board of Directors eight years, president three years.
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EDUCATION: J.D. University of Mississippi, 1974 B.A. Vanderbilt University, 1971
ADMISSIONS TO Tennessee Supreme Court
PRACTICE: Mississippi Supreme Court
5th U.S. Circuit Court of Appeals
6th U.S. Circuit Court of Appeals
11th U.S. Circuit Court of Appeals
U.S. District Court, Western District of Tennessee
U.S. District Court, Northern District of Mississippi
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ABOUT JO GARNER-MORTGAGE LOAN OFFICER:
www.JoGarner.com (901) 482 0354 jo@jogarner.com twitter @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”