Welcome Home with Monique

Wesley Knight 0:00
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Monique Buchanan 0:27
to Good morning. This is Monique Buchannan, the host of the welcome home with Monique show, and on this show, I talk all things real estate. Listen. I want to thank you for tuning in. It's Monique buchannen, the host of the welcome home with Monique show, as well as your international realtor. Yes. Why do I say that? Because I'm able to assist you, me and my team in 24 countries. So if you are thinking about being an expat, maybe moving to another country, me and my team can assist as well as I've helped many of my clients and listeners move anywhere in the 50 states, so keep that in mind. So it's Monique Buchannan, your local Las Vegas realtor, but as well as your international realtor, listen, I hope you guys had an amazing Valentine's Day. I know that I did. Me and my husband have been married for 12 years, but we've been together for 18 years. It's been such a blessing. I always joke to my single friends and tell them that I had to import my husband in from Louisiana.

For all of you that don't know me, I am a country girl at heart. I was born in Seattle. My mother was from up in Seattle. My dad was from Texas. So I was born in Seattle, raised south of Waco and as well as Las Vegas, Nevada. So I've been in Vegas, you know, since high school, back and forth. So, but anyways, yeah, I always joke and say I brought my husband in from Tallulah, Louisiana. That's where him and his family are from. And it's hilarious to me, because if you know anybody in Louisiana out here, a lot of them are from Tallulah. Isn't that crazy because Tallulah is, like, so small, but yeah, so I had a great Valentine's Day. My husband surprised me with some beautiful flowers, a huge balloon. We had a great time just chilling out. You know, we've been together for a little minute now, so nothing too crazy, too big, but I pray that you guys had a great Valentine's Day. Now for you that do listen to me from time to time to the show. You probably know my father since I lost my mother three years ago, Miss Sheila, I lost her three years ago. My parents were together 49 years, and they were such a beautiful couple. I never seen them have a major fight. My mother never moved out or, like left. My dad was always very sweet to my mother. They had the love that we all like, hope, that one day we have, and like I said, I'm blessed to have a great husband. My parents had something extremely special, and so my dad lives with us now. And you know, we made my little girls, Malia and Sasha. They're 711 they made my dad their Valentine's Day. It was very cute. They stood in for grandma, and it was sweet. But on another note, I made a poem because I thought to myself, you know, a lot of my listeners are probably in the same position as my father, you know, having somebody in your life that many years growing up with him, you know, I can't even imagine. You know me and my husband have been together, like I said, 18 years. Not gonna tell you how old I was. I was in my early 20s, and so is my husband, and we're no longer there in our early 20s. I'll just say that, but I just look at my father and and I, I came up with a poem that I'm gonna share with you guys. I don't do this often, but I'm gonna share a poem with you guys, and it's in regards to all of you out there that unfortunately have lost your spouses. You know I have a heart for you, because I see what my father goes through, I'll never understand. I don't think anybody will, until we've crossed that bridge. So here is my poem. And don't make fun of me if think it's kind of cheesy, but you guys know me. I share everything with you guys if you're family. So here is my poem for all of my listeners that are like my father, that unfortunately have lost their loved ones for Valentine's Day. Here we go. For decades, we walked side by side through laughter and tears. Love is our guide. The year's wove stories, tender and true, a lifetime built by me and you, but now you've gone where angels soar through heaven's gates. Forevermore, here I stand with love, still strong, yet half my heart feels lost. It feels wrong. The children groan. They do their best, their love a light a warm caress. Grandbabies giggle, soft and sweet, a melody where hearts still meet, but still silent as. Goes deep at night. It haunts the dreams I keep Valentine's Day once full of cheer, now holds your name still drawing near, yet I feel you love in a whisper, air and unseen hands that stroke my hair in sunlight, rays and stars so bright you send your love your guiding light, so I will walk with memories near. Hold our love forever dear, and though the ache may never wane, I know you wish for joy, not pain, so I'll honor you in all I do live the days still left for you, for love like ours. Can never part you hold my soul and I hold your heart. I hope you guys like that poem, and that's especially for my listeners out there that were without their sweetheart this Valentine's Day. Okay, I don't want to be depressing. I just want to, like share that with you guys, because, like as many of you know I do have my father living with me since my mother passed away. And, um, I just know there's a lot of you out there. So Happy Valentine's Day. I know it's passed. It was yesterday, but I hope you guys had a great day. All right, so let's get into the show you guys, I do my best, you know, to bring you guys as much information as I possibly can. And by the way, the show's been on for four years now, guys. So thank you so much for tuning in for almost four years. You guys have been supporting me, and I want to give a special shot out. And I've got quite a few over there at the VA hospital in North Las Vegas, quite a few clients over there. But you know, if I have some advice that I could share, you know, if you have a conundrum in real estate and you would just want to run it by me, I never mind you guys, me and Anthony both Never mind to have a conversation with you. If you got something that's haunting you, you just want to figure out, what can I do? What are my options? Hey, I'm not going to make you sign a paper just to get some advice from me, as long as you know it's it's something that I can give you professionally that's within my scope of knowledge, right? Never want to lead you astray. So there's that, if you're just tuning in, I am Monique Buchannan. I am a local Las Vegas real estate agent, but I'm also an international real estate agent. If you are thinking of becoming an expat moving to another country, me and my team are able to assist. We are actually in 24 countries, right? All right, and, of course, we cover all 50 states. I've helped many of my K UMB listeners that are deciding to move out of Vegas and go some elsewhere. I've helped them to move all right and make sure that they're in good hands and they're taken well care of. So let's go ahead and jump into the show. Something I do want to say, I'm pretty excited to announce that I have revamped my YouTube channel. You guys. The previous channel was welcome home with Monique. And basically all I did on that channel was repost the the shows that I play here on kumv. Well, guess what? Guys, no more of that. We're we're gonna have videos of homes for you to check out so you're able to go on to my new and improved YouTube channel. But yeah, it's called Monique Buchanan real estate, and I'm gonna start posting on a regular videos of the properties that I'm talking about because, you know, it just doesn't make sense for me to talk about them the radio. It is a public radio station, so I'm not allowed to say, actually, that it's a beautiful property. I can't say, you know, that it's stunning. I can't say this, that all I can simply state are the facts. So it kind of makes it awkward for me when I'm, you know, talking about my listings, or even just trying to share a property that maybe I do think is beautiful or maybe I think is unique. I'm not allowed to say that. So that's why I've created Monique Buchannan, B, U, C, H, A, n, a n, that's how you spell my last name, real estate on YouTube. Monique Buchanan, B, U, C, H, A n, a n. You can also find my contact information there easily as well. In the description, it'll always have my contact information. The banner will have my phone number if you need to reach out to me for any real estate reason at all, to list your property, to talk about investments, whatever you want to talk about. Monique Buchanan, real estate on YouTube is up and running, okay? And like I said, I'm going to be regularly posting videos there. And no no more, just, you know, reposting my shows. So you'll actually have something to look at. Since I can't describe properties myself here on the public radio station, I can do it, you know, without ruffling feathers on the YouTube channel. So Monique Buchanan real estate. So anyways, I went on down to a 55 and up community. So. So it's only been there for about four years. So I've got some videos of those properties there. But before I actually talk about that, I want to let you know that that the investment property I told you about, it doesn't have to be investment. It could be a vacation home. It could be your primary I just think that it's a perfect situation for a DS CR loan. Remember, I've told you guys about that. So last week, you guys heard me talk about the high rise that I'm selling right now. 2775, Pebble. It's on pebble. It's right on Las Vegas Boulevard, to be honest with you, it's in the loft five community, which is about a half a mile away from South Point and about two miles away from Mandalay Bay on Las Vegas Boulevard. So if you head north down Las Vegas Boulevard, you'll pass Town Center, and you will get to Mandalay Bay in about two miles from this high rise. So this is a reason this property is perfect for DSCR. Let me just tell you a little bit about it. It's almost 1500 square feet, you guys, it is two stories. The second story is a loft. Now this loft can be easily turned into a second bedroom, I would guess, about $2,500 worth of drywall and a door, and now it's a second bedroom with a full bath as well as a walk in closet. So you're paying for a one bedroom. And think about that. But with about, let me just cover my butt and say, between 20 530 $500 you can turn it into a two bedroom, which increases the value of this property significantly. But you don't have to pay for it, all right. So just think about that. This property will be uploaded onto Monique Buchanan real estate on YouTube, so you can take a look at it and get a feel for what it looks like. The the property is located, like I said, on Las Vegas Boulevard. It is about seven minutes away from the Raiders stadium. Okay, think about that. It's also about seven minutes away from what's going to be the Oakland A's stadium. You're getting ahead of the curve right by purchasing something like this before the Oakland A's is actually up and running. There is a benefit to that, being able to purchase this Now, another thing this property is a high rise. It's guard gated. All right, so nobody's just coming in and out. It's guard gated. You have all the amenities of a high rise. Let me tell you, it has window like the whole wall in the living room is window. You can check out the pictures and everything right there, like I said on Monique Bucha, real estate. All right, that's all you have to put when you go into you to YouTube Monique, B, U, C, H, A n, a n, real estate, and it'll come up, you'll be able to see the high rise property as well as the 55 and up community I'm about to tell you about. It's luxury. It's modern. It has wolf appliances in the kitchen. The kitchen is a gourmet kitchen. When you look at the pictures, you'll know what I mean. We're talking Sub Zero refrigerator. These are all things that are found in luxury estates. Okay, this property has all of that, and it's listed under 300,000 my investor said, put it on the market for that. I don't care. So you're basically going to be walking in according to the comps. When you buy the property, you'll be walking in with 20 to $30,000 in equity, because you'll see for yourself that there's another property going for sale in that exact same community, and it's listed at a 230 or, I'm sorry, $330,000

so that lets you know this is price to sell, but let's talk about the DSCR alum. So if you're just tuning in, my name is Monique Buchannan. I am a local Las Vegas real estate agent. I share with my community through this platform every single way that I can think of that you can become an investor, build your portfolio. I share every single way that I can think of, of you purchasing a home and no longer renting, no longer pooling Your Land Rover into a rental like I say, you should never have a Land Rover and a landlord that just does not make sense. You need to be building equity and making money and not just flushing it down the toilet. I'll just say that, and it's the truth. When you rent, you lose money. You beg for your security deposit back at the end of that year, if you decide to move on, when you own, you do not beg for anything except for you provide your banking instructions so that when you sell that property, they can go ahead and put hundreds of 1000s of dollars into your account. I'm not exaggerating. Okay, so that's the big difference, that a lot of people that grew up renting with their family don't understand the benefit in owning. Like me, my parents were in it for 15 years. I. And understand that when you own, instead of us walking away with nothing and begging with the property managers to please give us back our deposit, my parents would walk away with wealth, with, you know, a couple 100 grand, in most cases, that we can move on by something else, you know, and help a family member out, God forbid they're sick, we have the funds. We have an asset that we can pull from. That's what I didn't understand when I was growing up, because until I was about 25 My parents never bought a home. So we live in we learn. Anyways, I got a little off track. That's me. But yes. Monique Buchannan, 702984, 3700, you could check me out on YouTube, Monique Buchanan real estate, or you can jump on my website. Welcome home with monique.com welcome home with monique.com is my website. Alright, guys, so let's talk about the DSCR loan. Most of my listeners, if they're not retired, they're getting ready to retire, which means that we're going to be on fixed incomes, and believe me, I'm right behind you right this one I can relate to because I can see myself using it here in the future. So you're retired, you've got a set amount of money coming in, but yet you understand that that set amount of money maybe it's not allowing you and your grand babies to travel the way you would love to, right? So you want to make more income, start coming in, right? Well, here's what you do, as long as you have something saved up. I'm assuming that a lot of my retirees, they have some savings. You know, maybe they had a 401, K at their their, you know, their job before they retired. Or, you know, they just have savings. So let's use this property as a perfect example my high rise. I understand that having a high rise on Las Vegas Boulevard, seven minutes away from the Raiders stadium, seven minutes away from the Oakland, a stadium seven minutes away from Mandalay Bay, is definitely a bonus, right? There's so many opportunities within that, not to mention three minutes away from the airport. But by golly, I have a set amount of money coming in. Mo, I, you know, I'm tapped out. I can't I've got my home that I live in, so I don't see how I could get approved for this. Well, DSCR loan works like this. You guys, this property is priced at a very attractive amount, at 299 right? Already told you we're about $30,000 listed under and that was at the request of my seller. He's an investor. He said, I don't mind. Let's put it on the market. Let's get it sold, right? So that's where we're at, right? That's good for you in many ways. The first way is that, because it's priced at 299 your payment, even at 7% will be around $1,900 because you're going to be quiet required with a DSCR to put 20% down. Okay? So you are gonna have to put $60,000 down on the property, right? But they're not gonna take any of your financials in account. In other words, they're not gonna ask you to break out bank statements. They're not going to ask you to break out your financials. They don't care that you're making $6,000 a month as your retirement. You know that's what's bringing in. Whatever your retirement is. They're not even going to look at that. They're not even going to consider that. Okay? What they are going to consider is that you have the $60,000 needed to be put down on this property, they're going to consider that you have over a 700 or I think maybe even a 720 let's just say seven. Because I'm not a lender, I'm regurgitating what my lenders have taught me. Okay, so let's say a 700 credit score, right? $60,000 down, which is 20% right? The next criteria that's going to be pivot in this, or the main thing, is that this property can basically pay for itself. Well, what do you mean, Monique, what do you mean by that? Yes, I've got 60,000 that I could pull out of my 401 K, and go ahead and invest in this, because it's going to make more than that 401 K, more than likely, right? So, yeah, sure, I've got that, and I do have over 720 credit score. But what do you mean? It can pay for itself? I mean, this property can rent out for $2,500 that's the going rental, just straight rental. We're not talking about Airbnb. We're not talking about traveling nurses. We're not talking about flight attendants and pilots. You know, you renting them out to this because of the proximity of all these things. We're not even talking about that. We're not talking about the 1000s more that you could make by doing that well over 2500 we're just going off a regular old, traditional rental. Somebody comes in and just wants to rent. Well, guess what? Just a regular renter will pay $2,500 right now for that high rise. So your mortgage is 1900 Well, guess what? There you go. It's paying basically for itself through the tenant. So as long as the bank sees that the rent will cover the mortgage, you have over a 700 or 720 Credit score, and you do have the 20% down, you qualify for this loan, and they do not look at your tax statements. They do not look at any of your financials. They do not care, because the property is going to pay for itself. My girlfriend, she has a son that's in the army. He's younger. He's 23 he doesn't make a lot of money on paper, but he has phenomenal credit, phenomenal his parents were willing to gift him the 20% right? So that's what he's about to do. He's going to take advantage of this same exact loan that me and my team, we do this loan, we can help you with this build your portfolio off of this loan. So basically, you're building a portfolio of properties that are able to pay for themselves, and you are able to benefit from the excess of that. What is it? What do we say the mortgage was 1900 Well, guess what? The rent covers, or not? The rent, the mortgage? No, no, the rent $2,500 covers the mortgage of $1,900 so that leaves you $600 in the positive every month, and that's just this year. Think about next year, when you're able to charge $2,800 and so on and so forth. All those dollars are coming into your pocket now, and the property is paying itself off. So if you want more, you know information about that loan, 7029, 84, 3700 again, that is a one bedroom, one loft. That can be we're talking 2500 to possibly 4000 being the highest to turn that into a two bedroom. And now you just up the value of this property, and you got it for 30,000 according to the comps, less than what the other properties are selling for in that community. So I'm telling you guys when I tell you, right now is a buyer's market. And I don't know if you guys caught the news, but Fox five, they repeated what I've been saying for a year to you guys, Vegas is in a shortage of land, we are out of land. We're running out of land. So what does that mean for you as a consumer trying to buy a home here in Vegas? It means the prices are not going to go down. So don't listen to your coworkers. Don't listen to your friends. They mean, well, but that's they don't know. There's no way. And now, if you don't believe me, Fox five just did a whole show on it just this week, there is a scarcity of land for builders to build homes here in the Las Vegas Valley, right? So what happens when that happens? Obviously, land prices go way up because it's hard to find land, and those costs are what passed to you as the consumer. So if you're thinking that these prices are going to go down, and you're listening to people and you're saying, I'll just wait till they drop, I feel bad because I've had so many clients in the last four years say that same thing, and now they're priced out, and they cannot afford to buy a home anymore. And they've called me and I've ran the numbers, and I told them, Well, now your payment, you know, when we first looked at this, your payment was going to be $1,300 you told me you want to wait back in 2017 you said you're going to wait for the crash. You're going to wait for some magical bubble. I don't know where the bubbles coming from, but somebody told you a bubble was happening now, instead of $1,200 that same house that you wanted in 2017 same price point, now it's $2,500

and they say, Well, I can't afford that anymore, so now they have to rent. And here's the thing about Las Vegas, we have no rent cap. And I'm sure you've seen on the news. If you don't watch the news, let me tell you what it was saying all over the news. What, a year and a half, two years ago, people were going up on their rent as much as they wanted. Some people were on the news talking about their rent went up $500 $600 you can contact me at 7029 84, 3700, so 702-984-3700, you can contact me. It will be a five minute conversation with the lender. If it is, it's never a no, it might be not right now, but here's what I want you to do. So in two months, we can go ahead and get you a house. I hope that's fair you guys. I'm only listen. I talked to you guys just like I talked to my friends that are standing in front of me. And I hope you guys appreciate that, because that's how I feel. I'm an only child, so to me, all of you guys are my family, and I hope you're okay with that. But anyways, I'm about to run out of time, but we still have those zero down grants you guys. So zero down out of your pocket grants, okay, down payment is completely paid as little as a 600 credit score, right? I just need you to have a job, any job, I don't care where it's at, for two years, all right, five minute conversation, if your release is coming up, listen, 30 days is how long it takes me to get you into a home and. As long as you're not, you know, going crazy with taking forever picking a house. Normally, we get out there within a week, you found the house that you wanted, and you tell me, Mo, let's go. I get your keys in your hand 30 days later. That's the timeline. It happens fast. So before you sign on the dotted line and extend your lease, five minute conversation, 7029 84, 3700, before I run out of time. That that community that I told you guys about, it is in the northwest area, very near Mount, Charleston. I mean, not that near, it's probably about 1520 minutes, but higher elevation, it's a guard gated community. So here are the facts. There are eight pickleball, pickleball courts. There is a Olympic sized pool. There is a gym that actually the equipment, teaches you how to use it and walks you through. They also have their own private restaurants, only for the homeowners that live there. They have their own bar, and yes, I did stop and get myself a Mojito, chit chatted with all the people there. They've sold about 300 of the properties, but there's about 500 left, and they have condo options. Listen, some of the condos have elevators in them. Okay, elevators. All of the condos have dumb waiters in them. So when you walk in, you put your groceries in The Dumb Waiter, and it takes it right up to your kitchen, you know, like floor to ceiling windows, so that you could see the mountain views, because it is there the community surrounded by mountains, all right. So like I said, it's gated, so when you come in, you have to check yourself in. Not anybody could just roll up and come to your property. That's not going to happen. It's very secure. So you have to, you know, give them permission to come on in, just like when you're living in Spanish trails, for instance, same thing. So those properties are in the northwest area. You have to be 55 or up to live in those about eight homes single story. All the homes are single story, and even a multi Gen. So they have it where it's like a one bedroom apartment attached. They have that there options for my 55 and up that just want to, you know, live out their life, you know, having a good time, and, you know, having their own private restaurants with their, you know, fellow community, the prices range all the way from 300,003 50 ish. Okay, so they have prices from 350 ish for those condos all the way up to 600 the one that has the elevator, it's in the six hundreds, and then homes from 400 all the way up to the 650s so if you're interested, once again, my new YouTube channel is Monique Bucha in real estate. You'll see some videos of them. And if you have more questions or you just want to chat with me, my number is 7029. 84, 3700, so 7029 84 3700 welcome home with monique.com. Is my website, and I pray that you guys have it up last weekend. Thank you for listening. Please remember all terms discussed are simply an estimate. My license number is S 1788, 46 my phone number if you'd like to contact me, is 702-984-3700, you can also find me on YouTube and please join me tomorrow at my church, Living Word Church on hassle. I'm part of the EXP Realty Group.