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 Ways to Budget For Home Repairs & A Good Life. Today is June 8th, 2024 Call us in the studio while we are live at 901 535-9732
INTRODUCING Ed Hill of Masters Roofing in Bartlett, TN
Ed Hill of Masters Roofing is back in the studio as our co-host. Ed Hill, you are always getting accolades for the wonderful work you do repairing and replacing roofs. Some people may not realize that your team does some repairs on outdoor siding and some work on the INSIDE of the house. Take a moment and tell our listeners a little bit about you and the services you offer them. (Ed Hill has about a minute and a half to intro himself and services he offers)
(Jo) Budgeting does not have to be hard. Your first goal is to get more income than you spend.
Your second goal is to invest a set amount each pay interval to invest into things that can bring you a high return and ultimately will be passive income for you later in life. Once the habit is ingrained, then you can pay off your bills, experience the joy of giving and reaching closer to your dreams.
Reece and Reny met in school through some special interest programs. They were a match made in heaven, each of them enjoying the same hobbies with mutual friends. Since they both shared common dreams and goals and were headed in the same direction, why not get married and walk through life together too.
The challenge with charging toward your dreams and goals too fast, is that Reece and Reny’s goals and hobbies required lots of money. They tried a budget but, just when they had some money in the bank one of them would really “need” to buy something. When the money was gone, resentment set in. There had to be a better way.
After learning many lessons on how NOT to handle money, Reny signed them up for a money managing class through their church. With the encouragement of other people in the group, Reece and Reny set new habits that brought them together on the goal of paying off debt and finally being able to invest their money regularly.
How could this system of wealth building work for you?
Take 2 or 3 hours and go through your credit card accounts, your bank accounts and your income.
Log each amount paid to the appropriate category on a spreadsheet. Groceries and eating out on one column, car expenses in another column, insurance, internet and phone charges, and more. Don’t forget the once or twice a year expenses like car tags and insurance.
Once you see where you are spending money, look for items and services that you can substitute for something that doesn’t costs as much but can bring you equal joy. (Substitiion)
Can you buy the same product but at a different store or different time of day for a substantial discount? (Bargaining) An example that has worked for me is to get to the grocery story before 8AM when the fresh meats from yesterday are on sale for about 50 cents on the dollar.
Is there a product or service that you can barter with someone or a company to get what you need but without having to pay money? Example: You agree to use your skills or provide a resource you have in exchange for someone else giving you a product or service that you need. (Bartering)
Is there a service or an item that you can share with a neighbor such as an online service that either of you can access using the same password? (Sharing )
These practices can free up a good portion of your expenses, making room for you to invest your money, or even make room to afford to buy a house
Let’s explore mortgage products that will help keep your mortgage payment low. We can explore down payment assistance, traditional mortgages and outside-the-box mortgages. Connect with me at JoGarner.com (901) 482-0354
(Jo) Ed Hill of Masters Roofing in Bartlett, TN, You have some great tips for us on how to give our homes some Tender Loving Care TLC. What is some of your advice on this topic. We have a few minutes before we go to break and we can also continue after the break. (Ed Hill starts launching into his topics until 9:15 break to be continued after the 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 Ed Hill of Masters Roofing and Tim Flesner of Mid-South Home Helpers will be joining us too.
2ND SEGMENT 13 MINUTES
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, Tim Flesner, part owner of Mid-South Home Helpers, non-medical assistance for your loved ones who need help to remain safely and comfortably in their home. Tim Flesner of Mid-South Home Helpers, , What is our Talk Shoppe Business Tip for Real Estate Professionals today? Tim Has about 1 minute or so to share a tip (Jo says, “Thanks, Tim. . How do we contact you?
(901) 414-9696
2nd segment 9:18 am – 9:30 am
TOPICS COVERED BY ED HILL OF MASTERS ROOFING
H
HOW TO GIVE YOUR HOME SOME TLC
Ed Hill, Senior Consultant, Masters Roofing Memphis
Remember when you first moved into your home and feel the happiness and peace you had with your new or new to you house. It wasn’t just a house it quickly became your home!
There were wonderful features that thrilled you and there were a few things that were on the top of your list to improve or change. After putting that TLC into your new place, you finally embraced it and couldn’t imagine how it could not always be so wonderful.
Then, a funny thing happened, and it’s hard to explain but paint peeled, colors faded, leaks began, shingles slipped and you began to realize that while you were working and living life, your home was slowly beginning to decay! What?
Don’t be too hard on yourself because it happens to all of us.
So, what do homeowners do to recapture their love for their home? What strategy and steps need to be taken in order to show your home some TLC?
Strategy And Steps
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Perform a walk around inside and outside your home
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Make a written list of what needs to be repaired or replaced
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Prioritize the list from urgent to it can wait
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Consult home exterior and interior repair and remodel experts
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Learn what you can do yourself and what you need help with
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Identify funding sources to pay for the repairs and upgrades
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Award projects to trustworthy expert contractors
Ed Hill of Masters Roofing can play a key role as an advisor, as an inspector and as a contractor. Masters Roofing not only replaces roofs but also performs hundreds of roof and home and business exterior repairs annually. Whether it’s installing energy efficient vinyl replacement windows or fabricating custom gutter systems, Masters Roofing is more than just a roofer, so much more. Ed Hill is your key man to begin the process of repairing and restoring your home. A trend in the 2020s is baby boomers renovating their homes for their hopefully trouble free golden years. More and more boomers are replacing their roof, upgrading their gutter system, repairing wood rot and repainting their home. If you need expert advice and helpful repairs then call Ed at 901-273-6594.
3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
WAYS TO GET THE GOOD LIFE WITH A SMART BUDGET
If you REALLY want to get to your best life sooner than later, try increasing your income or decreasing your expenditures. Here’s our some of my clints mastered this :
Amelia Allison’s story-Be frugal-Be Focused to live the adventurous life
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A. Know your personal comfort level on a monthly house note. Don’t depend solely on the mortgage software to dictate your qualifying levels. You might be approved for a loan that puts you at a 50% debt-to-income level—leaving you eating beans and crackers with no room in your budget to travel, go out to eat or enjoy life.
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Let me introduce you to Amelia Allison (not her real name.) Amelia’s story inspired me. Amelia left her parent’s home right after high school and launched into an adventurous life traveling around the country. Amelia planned ahead. She got financial aid for college. She wanted to see the world, so she signed up for school in a faraway area of the country, supporting herself by working part time job and sharing a home with fellow students at the college where she attended.
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Amelia was frugal and focused. After graduating college she already knew she wanted to buy a home. But adventure still called her name. In order to travel and dive into life head first, she needed to figure out a way to get a second income without having to work a second job.
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Amelia’s answer was to purchase a four-plex—a home with four living units. Her plan was to live in one unit and let the rent coming in from the other three units more than pay her house note. As rents would be going up over time, her 30 year fixed rate mortgage would remain stable and low, creating more and more positive cash flow to fuel her excitement-seeking habits.
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Here is how it worked for Amelia: She had a knowledgeable realtor who knew the home market and the right professionals—the lender (me) and a good home inspector, title company, insurance professional and trustworthy handyman. I got her approved for a government, low fixed interest rate, low down payment loan program. With a little help from the seller on the closing costs, Amelia and I went treasure hunting for down payment funds to get her into the property without disturbing her emergency fund. I have to admit, hearing Amelia talk about her plans made me yearn to step back in time for just a little while- to be in my 20’s again. Ameila had her whole exciting life ahead of her and she knew what she wanted and how she was going to get there.
Time To Innovate and Initiate—Man On A Mission To Free Himself From Debt:
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Randall Ratcliffe, not his real name, was a man on a mission to pay off debt that had a strangle-hold on him. He said, “I had some unexpected life events that costs me lots of money. One after another, they just kept hitting me. I could never catch a break. Before I knew it, several years had gone by and I was drowning in debt.”
There is a wise saying that until you are so miserable in your current situation that the risk of stepping out to make changes is less daunting that staying where you are, you will never take the chance and make the change. Randall Ratcliffe experienced the face-slapping realization that his life was being sucked out of him by piling up debt.
Randall Ratcliffe needed to innovate and think outside of the box. He sought out people who had gotten themselves out of debt. The first initial steps were the hardest. He forced himself to tally up what he owed to each creditor and how much interest he was paying for each account. He was paying double-digit interest rates on these. He called and managed to get some of the interest reduced, just by asking.
He owed about $100,000 on his mortgage with about 18 years left. His house was valued about $250,000. He refinanced back to a 30 year loan and pulled cash out enough to pay off over half of his credit cards. Yes, he was back to a 30 year loan on his mortgage but by putting most of the double-digit interest rate credit cards onto a 5% fixed rate mortgage, he freed up several hundred dllars a month.
His next plan of action was to first apply the several hundred dollar a month savings to systematically pay off the rest of the credit cards over time. Second, once the credit cards were paid off, he could take the several hundred dollar savings and start an automatic prepayment plan to go toward getting rid of his mortgage in less than 15 years.
Randall Ratcliffe made a commitment to his goal.
He wrote his goal down.
Randall. Ratcliffe shared his goal with some people he trusted that would keep him accountable to stay on track.
He put some financial professionals on his team
He preset his digital calendar to show recurring reminders every month to cover these bill payment tasks.
Mr. Ratcliffe automated some of the payments so that it would go to pay down designated debts before he could ever be tempted to spend it somewhere else.
He checked his progress regularly and rewarded himself at predetermined milestones along his journey.
What do YOU want to accomplish with your mortgage? I can make the mortgage process EASY. Connect with me at www.JoGarner.com
4th segment following 9:45 am break about 9:48 to 9:56 am
REAL ESTATE TIP OF THE WEEK
TIM FLESNER has about one minute or so to share another tip from Home Helpers
ED HILL has about 1 minute or so to share a tip :
When hiring a contractor to repair your home, check out their reviews online. Make sure their license and liability insurance is good.
Jo Garner’s mortgage tip: Can you think of a time when you REALLY wanted to complete a project. but you did not have the tools needed to finish the job?
There are four common areas where home buyers or homeowners getting a mortgage need JUST THE RIGHT TOOL.
I have racks of mortgage tools to help you get the best mortgage if your income is too low and you need special affordable loan.
I have a tools to help you if you are short on funds to close, need some assistance on credit issues or issues with the property that will be collateral.
Connect with me, Jo Garner,licensed Mortgage Loan Oifficer, 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 June 12th, , 2024 9AM CT
“Doing Business with the Latino Market” Lupita Ledesma
Talk Shoppe is free to you because of the generosity of our sponsors
Like Chuck Bohannan, booking agent for Santa Claus. Do you know someone planning a Christmas in July event? Make your event memorable by booking Santa Claus. Contact Santa Claus’s booking agent, Chuck Bohannan at HoHoOnTheGo50@gmail.com
3. Thank you also to Talk Shoppe sponsors Leah Anne Morse of All Things New. Leah Anne and her team making moving to your next home fun, whether you are upsizing or down sizing. They are professional organizers, boxers and movers. Contact Leah Morse at 901 488-9733.
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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.
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:
“A budget is telling your money where to go instead of wondering where it went.” Dave Ramsey
“Budgeting is not about limiting yourself, it is about making the things that excite you possible.”
Thefinancefashionista.com
REJOINDERS:
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Mark McLaurine of Refrigeration Unlimited 901 216-7782
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Reverend Jo Rook Huggins, Director of Healing & Wellness Ministry, Church of the Harvest, Olive Branch, MS harvestob.org
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Taylor Morse of Cartridge World in Collierville, TN 901 853-3230
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Transitional Music: “
“Fixing A Hole” by the Beatles; ‘Bargain Store” by Dolly Parton; “Good Life” by OneRepublic; ”Taking Care of Business” Bachman Turner Overdrive for the Talk Shoppe Business Tip for Real Estate Pros
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
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
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 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”