Welcome Home with Monique

Unknown Speaker 0:00
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Unknown Speaker 0:37
Good morning. This is Monique Buchanan, 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. Well, hello, hello, Las Vegas. This is Monique Buchanan, the host of the welcome home with Monique show. And I pray that you guys are all having an amazing day. But if you're not guess what you're about to have a great day. Guess what, we've got some delicious food coming your way. So I want to give a quick shout out and bring on a very near dear friend of mine. She's also a past client. She supported me even back when I first started my real estate career. I want to welcome and introduce none other than Miss Denise Ortega. Hi, Denise.

Unknown Speaker 1:21
Hi, good morning Las Vegas.

Unknown Speaker 1:24
So Denise is like I said a very good friend of mine very close to my family. She she and her husband, John Ortega supported me when I first got my real estate license. And I've never forgot that. But guess what, guys? They are opening a barbecue restaurant and let me tell you, it's delicious. I've had their barbecue. Denise, do you mind if I just go ahead and start my story first. So the way that I've come to taste this delicious barbecue, and I think that I have the right to say that it's delicious and how I am originally from Texas. Denise and her husband are such sweet souls for what over 10 years now. Right. Denise 10 years ago has been doing that. Over Yeah, over a decade. They donated their time, their money, their resources, and their delicious briskets to many families, including my own family, so they would host a Easter barbecue every single year for probably 20 or more families. And we would all go they didn't ask for a penny. They just asked you to bring your kids and they totally took care of everything. So they are I mean, John would be barbecuing all into the night. Right Denise? You guys getting this event ready, right? Yes,

Unknown Speaker 2:41
it took a lot of effort on everyone's part my my family's part, but we did it because we we just wanted to bring everyone together for for Easter and spend that time with our friends and our family and, and make it count you know, because but nowadays we don't get a lot of that. It's like you have to really put forth a lot of effort to bring families together and and to make memories.

Unknown Speaker 3:03
Yeah, that's what it's about. So I want to thank you for me and my family because because of you and John. My kids will always remember those Easter's at the park with Auntie Denise and Uncle John you know making the briskets making all that delicious food we do like a potluck. So anyways guys, they are opening now and I mean it's long is long been passed do a barbecue restaurant. So I'm so excited. What is the name of your barbecue restaurant?

Unknown Speaker 3:32
So the name of our barbecue restaurant is off the hook.

Unknown Speaker 3:39
Because I brisket is off the hook

Unknown Speaker 3:42
has always used a big hook to flip his tried tip and so we got that name from the the actual tool that make it barbecue. Yeah. So I feel so wonderfully blessed to share all this exciting news with you guys. It's been a long time coming. As Moe said, my family and I have been dreaming about this for some time now. We have been catering for over 15 years you know mostly here in Vegas. We've done events like First Friday. We've done the best damn barbecue in Boulder City the red white and boom at Desert breeze the balloon a palooza in North Las Vegas. We've even participated in the foodie fest. Oh yeah. We donated at the breast cancer awareness the walk we've actually barbecued and donated Tri Tip and participated in that as well as Metro and some of the fire departments we've barbecued for. You know the list goes on and on. We've been doing it for over 15 years and it's it's a dream to have our own brick and mortar now.

Unknown Speaker 4:45
That's amazing. So And just so you know. Go ahead. I'm bad about that. DENISE I will cut somebody off please forgive me. It's called off. Barbecue you guys. So you guys it's opening today. Okay, this morning you can go check Come out and get a delicious you know, meal today at off the hook. It's connected to the bounty tavern. And that's, you know, right there on the corner. What are those? Is that cactus in Buffalo Denise?

Unknown Speaker 5:11
Yes, it's actually rainbow in cactus rainbow in cactus.

Unknown Speaker 5:15
So right there with that bounty Tavern is right next door is our restaurant off the hook. It's opening today. And I can vouch for how delicious their barbecue is. Now what else what all is on the menu.

Unknown Speaker 5:28
Oh my god. We have tried to we're going to be doing ribs. We're going to be doing chicken. We're going to have some of our famous mac and cheese. Tuna salad. We're putting out there the works. We're gonna have all kinds of food. We're gonna have also face painting. We're going to be giving away prizes. Downey has put together a lot of you know, little prize gifts to hand out throughout the throughout the event. So you know there's that going on.

Unknown Speaker 6:01
Yeah, bring the babies bring them in. And so I will be out there with my family. I will definitely be out there with my family getting my baby's face painted and diluted and I'll be tearing up some brisket because I love the triad tip is my husband loves to try to I'm the brisket girl. I told the nice I was gonna tease all my listeners and say hey, don't you guys go down there like Chris Rock asked him for one rib. And then pull out 100 stack a hundreds Can you get up? Can I get changed? For 100? No, once you know your router tried to bring brisket ribs. Family owned family owned business. Yes, yes.

Unknown Speaker 6:38
My family's participating in this. We're gonna have a live DJ. breed. They're gonna have Elvis out there. So if you want to take a picture with

Unknown Speaker 6:46
that. Oh, that's awesome. That's awesome. I didn't know Elvis was going to attend.

Unknown Speaker 6:52
You know? That's awesome. You got to hang

Unknown Speaker 6:56
out there and it'll be a blast. I'm excited. So um, so for all of you that don't know we we actually record this show on Thursdays. But it's today today that is airing is Saturday. So like I said, I am there. I am there on probably dancing with Elvis but I'm definitely there. With my family. We will be supporting John and Denise Ortega. And on a side note, John is also so the way I know John are you have come to know John me my family's. My husband and John worked together. John was my husband's mentor. And Denise was always that that loving supporting wife that dealt with me in my 20s. And yeah, so But anyways, our husbands are part of the teamsters union. And so I'm pretty sure there's gonna be a lot of Teamster support coming on out to the off the hook restaurant. And if you didn't catch where it was, it's right on the corner with a cross rezar cactus and rainbow so it's out in the southwest area. So all my key would be listeners, all my k u and v family. I'm hoping you'll join me today. Saturday, today, at their grand opening, Elvis will be there face painting, bring the babies. Let's have a great time. Let's dance. They've got a DJ, and let's enjoy some of that delicious barbecue. Hey, I appreciate you, Denise.

Unknown Speaker 8:17
You're very welcome. I hope to see everybody out there. It'll be fun for the entire family.

Unknown Speaker 8:22
Right on and do you guys do to go plates and things like that? Absolutely. We're going to be doing to go play. And I want your hours.

Unknown Speaker 8:33
And it's actually going to be from four to 10. But of course, the establishment is open 24/7 So you're more than welcome to stay afterwards. The bar stays open, we stay open. It'll be a good time.

Unknown Speaker 8:45
Okay, so today's event to bring the kids and see Elvis and dance with Elvis is from 4pm to 10pm. But your working hours for the restaurant are what hours 24/7 or 24/7 Wow, that's amazing. So I can wake up at 330 in the morning and get some brisket dinner, a brisket dinner.

Unknown Speaker 9:03
And you sure can. And we have our breakfast and we have lunch we have another menu for that side. We'll be doing breakfast and lunch from here on out night after our grand opening so there'll be lots to try not just the barbecue.

Unknown Speaker 9:17
Oh my goodness. I almost forgot. Are you guys going to have my hotlink dinner that I love Denise?

Unknown Speaker 9:22
Yes ma'am. We'll have that as well as our other side of the menu which is breakfast and lunch. We'll be having breakfast and lunch. After a grand opening. We'll also have the face painting. A live DJ will have elf Elvis out there and we'll also have a little area setup with haystacks and pumpkins for picture taking because you know what? It's all in. We want to bring the kid back here and have pictures and that'll be set up also. I

Unknown Speaker 9:54
love that. Great I love that girl. I love the fall I start putting pumpkins out in September. I'm pretty rigid. mcgillis so I'll be over there getting my picture taken. I'm so happy we finally made it to fall. Well, I'm so excited to see you today at four o'clock, you guys four o'clock till 10 o'clock at night, you can go over there, take the babies to get some pictures taken. You can get a picture taken with Elvis face painting DJ, go out there and shake a tail feather. I'm excited. I'm excited. I'm so proud of you guys. And I just want to say thank you so much for just you. Like I said, you know, just taking care of these families. For over a decade now you guys have donated your time and resources to be a blessing to others. So I know that God is gonna bless this business. And I want to say thank you for me and my family. And I'll see you later today.

Unknown Speaker 10:47
Yeah, it sounds great. I hope to see everyone out there. Yeah, he lost a friend for the entire family cactus

Unknown Speaker 10:52
and rainbow right next to the bounty hunter tavern off the hook restaurant. That address is 1051 I'm sorry, start over 10591 South rainbow Boulevard 10591 South rainbow Boulevard. Alright guys, I'll see you guys out there. Thank you, Denise. Okay, guys, we're back. We're back. And now I'm going to talk real estate. So once again, if you're just tuning in, this is Monique Buchanan with a welcome home with Monique show. And yes, I just had one of my past clients slash very near and dear friend tell you about her wonderful restaurant that's actually opening up today. That's the off the hook restaurant it right there on cactus and rainbow. But now we're gonna go ahead and pivot into what the show is really about, which is real estate. So I want to welcome my near and dear lender, Mr. Anthony Valentino. Hi, Anthony. How are you? Hey, Monique, how are you? I'm doing amazing. I just want to bring you on today to talk about something that a lot of clients are doing right now. As you all know, I've had quite a few listings. And the reason being is they're listing their property, and then buying another property, whether that's downgrading because the kids have moved out or upgrading. And I kind of wanted you to kind of go over what that looks like, because people don't realize that in many cases, they still only if they if they want to just put 3.5% down, they can a lot of people don't know that, or if they sell it, you know, there's options. So if you want to jump into that.

Unknown Speaker 12:31
Yeah, absolutely. I mean, right now, you know, we are at the end of the debt cycle. And, you know, there's been a debt cycles since the 1930s. And traditionally, a debt cycle is every eight years and the first five years, everyone's going to Disneyland or, you know, using credit card buying houses buying boats, and then the last three years of a debt cycle. Typically, the banks strict, you know, make it tighter for lending, and they make it harder and, and people usually divest and, and sell and offload assets. And so the best time to either buy or to offload or leverage is at the end of the debt cycle. And right now we're on year six of your eight of the debt cycle. So what that means in an easy to digest way is, you know, people are looking to leverage the assets that they've accumulated over the last five years. And rather than it sitting there doing nothing for you, you can leverage it, you can purchase property, you can purchase land, you can, you know, basically make that money start working for you, rather than you working for the money to get the asset, right.

Unknown Speaker 13:39
I like what Richard Kawasaki said, he said, you know, your home that you live in, is not an technically an asset, until you start, you know, pulling some money out investing with that money from the home. Because until you do that is just something that you have to pay off still, you know what I mean? So but it's, you know, in a sense is, of course, it is an asset, but what he means is, like you said, the the equity is awesome, but it's not real until I tap into it and put it to work.

Unknown Speaker 14:07
Yes, and there's, you know, an asset like a physical property, it's recession proof, not only because it's not just one dimensional, but there's multifaceted revenue streams from an asset like like, like real estate, you don't just have the ROI on top of the mortgage that you make from the rent. But you also have the, the accumulation of equity that you make every year every year also have the tax incentives that you get the write off because you're a homeowner every year you also are paying down the principal every time you make your mortgage payment, which also has a utility in it. So when you look at all four of those and you quantify it, you're making money on a lot more different ways than just a yield return like you get from like a digital platform or like a stock or money market. But like to your your question. A lot of people have a lot of assets or a lot of equity. so that they they're not tapping into right now, right. And so, yes, there's a high interest rate. But as long as the money that you're making from that interest rate supersedes, then that's a positive ROI, meaning rate of return. So if it's costing you 678 percent, to borrow 100,000, but then you buy an asset that's worth 500,000, making five or 6%, I would much rather you be making 5% off a 500,000, then not paying a percent off of 100,000. So you look at those two comparisons, you're gonna make a lot more money by spending that 100,000 hitting, getting hit with that 8% rate. But then you're getting five to 6% Return on a much bigger asset. And so the economics the math makes sense.

Unknown Speaker 15:55
Let's do this. Let's make it very understandable for just anybody. You know what I mean? So let me get let's just do like a scenario. Let's let's roleplay. Okay. Hi, Anthony. My name is Monique, and I own a home. I have $250,000 in this home, I bought it for $230,000. And I want to upscale, I want to buy a house Anthony, that's going to cost probably 600,000. When I sell it, I'll walk with maybe 250,000. How should we do this? Anthony? What is this going to look like?

Unknown Speaker 16:30
I would first look at your whole portfolio to say, do we want to use the proceeds to put towards the down to have the lowest payment possible? Or do we want? Or do we want to look at to say do you have car payments? Do you have installment loans? Do you have other accounts that have a higher yield in rate and a higher monthly payment? Because paying off those debts and wiping away $1,000 A month or adding $30,000 to your to your down payment? You're gonna get a lot more bigger bang for your buck by paying off those debts. So I always tell my clients and then No, so if you were in this situation, if you had no debt, then I would say yes, let's let's look at possibly putting 10 to 20% down so that way, we don't have mortgage insurance. But if you did have debts, then that would look at the math with you to show you, hey, let's pay off all this other debt that you have. Let's save you that monthly amount and that interest. And then we can put a little bit down and you're still gonna come out better when you look at your whole portfolio.

Unknown Speaker 17:25
And that's why I love you, Anthony, because you don't just do the cookie cutter what everybody else does. You look at the entire picture. So if you didn't catch that guy's what he's saying is listen, of course, you could put 20% down because you just told me you're gonna have 200,000 Right? But let's see if that makes financial sense. Let's see if you're putting 20% down, which is I don't know, how much is that? Anthony? What is that? 60 $70,000? Right. So on what? Six? No, 600 $600,000 house is what I want to buy. So me putting 20% down because I'm gonna let Monique sell my house. So Monique is gonna sound funny. It's 120,000. So yeah, you know, any, any normal person or lender would just say okay, yeah, that's fine. Just put down 20%. And it's gonna be 120,000 they're moving on, right? But you're saying no, no, no, wait, wait, wait, wait, let's, let's see if this makes sense. For your pocket for your family, right? 120,000 is a lot. Let me look at your entire, you know, scenario. Now, if we pay these bills off over here, it's gonna save you so much money, that it'll save you more than you putting 20% down and then having a lower mortgage payment, if I can save $800 A month because I paid some debts off. And if I don't, and I just go ahead and put 120,000 down, I'm only saving $400. Obviously, it's smarter for me to go the $800 savings route. Right? That's what you're saying? Either pay off student debt.

Unknown Speaker 18:51
Go ahead. Yeah, like when they come to me, you know, they don't even realize that if they were to take the proceeds and wipe out, you know, 50 $60,000 in debt, saving them 1500 A month, they can actually upgrade to a much bigger house and still see 800 to $1,000 less a month going out of their account, and they upgraded. And so it's really about looking at the whole picture in all scenario to set them up for not just short term, but long term success just for the property, but for their whole financial portfolio.

Unknown Speaker 19:22
Absolutely. And if you're just tuning in, this is Monique Buchanan. And this is the welcome home with Monique show. And I've got Mr. Anthony from guaranteed rate on and he's going over the options of if you were to sell if, let's say you don't you call me up and say, Monique, I want you to list my property. I want to go buy a bigger house at 700,000 whatever that number is, he's going over the options of hey, he's going to look at your entire portfolio and say, Okay, it's gonna make more financial sense for you. This is how much you'll save if you do it this way. Or you can take go ahead and put the 20% down and this is what that will look like. Now, let's go on to this part. Let's say that you Do I say, hey, you know what it looks like doing a 20% down is gonna save me more money. So we go ahead and do that. Here's the beauty of that as well, is that, obviously you're not going to have to finance as much. Right? So like you told me a story two days ago about a client doing that. And they only ended up having to finance 300,000, because they put so much down from selling their property, is that right? That's right. Yep. What does that look like? So as far as and then also, they have money to buy down their rate as well. Correct?

Unknown Speaker 20:32
Yeah, they do. I mean, it's really it takes someone like yourself, you know, a real estate professional to see where the markets at because, believe it or not, even though rates are historically high supply is historically low. And so, you know, yes, the rates are high. And the demand is not as high as when the rates were under 3%. But no one is selling, because most people are in the twos and threes, and so they're just going to rent that out and keep it right. So even though the rates are historically high people selling, you're still getting top dollar, because there's still a couple people waiting in line to put offers on that house. But, you know, to your question, you know, if you if you can make your payment, basically, I like to reverse engineer my clients and ask them, What do you want to see? What payment Do you want to see. And then based off of, you know, the basket of goodies that they have, I show them their options. So that way, hey, they can put a lot down, they could put a little down, they could put middle down? Do we do 10% And do a 10% second, wipe out mortgage insurance without having to put 20% We could do a 5% down and do a 15%? Second, there's a lot of options that a lot of people don't understand are out there. And that's where you and I come in to show them those options in an easy to understand way.

Unknown Speaker 21:44
Absolutely. Absolutely. And so you know, and that's true. A lot of people don't even realize that, although you own a home now you still can purchase another home, they think, Oh, well, I already own one. Or maybe my veterans they think oh, I've already used my, my DD 214. So I can't use it again. Can you kind of enlighten them on that as well?

Unknown Speaker 22:03
Yeah, I mean, you can have, you know, the American way is to purchase a house. And as you grow out of it, you continue to keep purchasing. And you can either sell or you can maintain that property and start an arsenal, and inventory, so to speak, of investment properties. And you can have more than one property under your belt. Because if you're moving out of it, otherwise known as a departing residence, that doesn't hit your debt to income ratio, because we offset 75% of that payment. So that way, you when you buy another house, only 25% of that departing residents, payment is hitting your debt to income ratio. So a lot of people don't understand you can even rent and buy a house and not have a primary residence house, you can have 5678 houses under you. And you know, so I hate seeing people stay in a house for 5678 years, while that equity just sitting there when they can either sell it or they can take a second out. And then they can graduate up or they can they can levitate to a different house and still keep that house making money work for them rather than them working for their money, right.

Unknown Speaker 23:14
So you're saying listen, if you have a home now that you own, you can rent it out, okay, rent it out. And then if it's let's just say that your mortgage was $1,000, then only $250 of that goes towards your debt. So in other words, it's not going to really affect you, as long as you rent it out, you can move on to a bigger home, and then keep that home as an asset. So that you can always have that residual income coming in from renting it out. You don't have to sell it, you can sell it, I'd love to sell your house. But only if you need the money is like what you said, you know, and I, I you know, I totally believe in that as well. If you can rent it out great. You know, keep those homes, you know, keep your portfolio growing. But if you're one of those people that just don't want to deal with renters, and when they say renters toilets and tenants or whatever, then obviously I can sell it for you. And then Anthony will get you finance to go on and move on to either a smaller place or a larger place. You're not stuck there. And so real quick, and you were talking about how low of inventory we have in the market that we're in. Very true. So it all depends on your price point. Let's just make that really clear. Right now. A lot of people would and this is Anthony, the lender, okay, he's gonna verify this. Because of the rates. A lot of people are approved for much lower than they would have been approved even two years ago, a year and a half ago. Right, Anthony?

Unknown Speaker 24:35
That's right. Yeah. Because, you know, the year and a half go rates are in the twos and threes and now they're in the sevens. Yeah. And, you know, the Feds just convened this week and there's a 75% chance we're gonna see another rate hike in November. So, you know, there's gonna be no recession they just added another 116,000 More jobs to the report. So you can't have a recession when unemployment is at an all time low. Um, so it's, you know, the rates are gonna get higher for the end of the year, and then they'll start going down next year. But when rates go higher, that means people's purchase power goes lower. And typically in a regular market, when the rates go higher, the inventory goes higher, and then the purchase price goes lower. But in this case, it's not, because everyone's holding on to their inventory, therefore the rates are going higher, and the inventory is going lower. So it's, it's, it's not helping us.

Unknown Speaker 25:32
And what I want people to understand that are sitting on their hands and waiting for the, the rates to just drop back down, they think that you know, I'm waiting for the rates to drop, you must realize that as you're waiting, the rates are going up, which means your buying power, your home is getting smaller and smaller. Instead of like, for instance, the person that, you know, bought a home a year and a half ago, got a house, that same person, if they were if they would have waited until now, they probably only get approved for a condo. You know, maybe if they got a house at 300,000 to a year and a half ago, they would only get 230. Today, and that would only get them a condo. So as you're waiting, your home is getting smaller and smaller. What do you say to the people that are waiting for this, the rates to drop? That's like, you know, the common thing here?

Unknown Speaker 26:17
I'm glad you said that, because I happen to have my crystal ball with me. Yeah, perfect timing. So let me open up the crystal ball. Right I see it, I see the future, right. So the future, it's saying in the next 24 to 36 months based off of 64 years of data is basically this year, we're going to see the rates continue to climb and 2024, they're going to start to go down and 2025, they will go down even further, within the next 18 to 24 months, we'll see rates in the mid fives there. Therefore you combine them down to the low five the upper floors. So for the next 24 months, we will see irate territory. But when you look at the tax incentives, the equity to pay down principal within a 24 month period, and you add all that up, you're going to see 10s of 1000s of dollars not taken in if you were to continue to rent. So my my, my answer to that is if you look to want to purchase within the next three years, right now is going to be the most economical time to do so because you can date the rate, you can have the seller buy down the rate, you could do a rate by down and then refinance within the next two to three years. And now you have the asset and you've gained everything inside it. Because in a market where the rates are historically high, and they're going down, you don't you do not see a market going down you see a market only going up because as the rates go down the supply and the demand tilt and you'll see the prices go up. So a perfect time to buy now you can get the house you want, start gaining the equity, get the tax assessor's pay down the principal, and then in three years refinance at the worst case, and you don't have to fight for the house that has a higher ticket price to it.

Unknown Speaker 28:09
You're absolutely right. When the rates go down, the prices go up and guess what else happens? The sellers no longer want to negotiate or need to, they don't need to negotiate your closing costs. They'll say, hey, that's your expense. That's your closing costs, you pay it, you know, so if you're just tuning in the

Unknown Speaker 28:25
people, they're gonna say, they're gonna say I have 15 people in line waiting to pay 10,000 over and not needing any closing costs, that day will come. Whereas right now we can pay at or below and get closing costs. So again, we're at the end of the debt cycle, that's the best time to capture assets

Unknown Speaker 28:42
that day will come back because it already happened. I was out there, you know, hey, 10 $20,000 over list price. We'll see it again, as soon as the REITs do drop. And then that'll put you in a position of what you know what I mean. So I want to thank you so much, Anthony for coming on. And once again, just educating my listeners and everybody out there on the current Las Vegas market while the current market period because you do service in all 50 states. You can reach me at 702-984-3700. But it's 702984 3700 welcome home with monique.com. Thank you, Anthony for coming on again.

Unknown Speaker 29:25
Always a pleasure. Thank you money.

Unknown Speaker 29:27
Okay, we'll hear from you soon. Have a blessed 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. Alright, tune in next week.

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