Welcome Home with Monique

Kevin Krall 0:00
The content of this program is paid for by Monique Buchanan LLC. The content of this program does not reflect the views or opinions of 91.5 Jazz and more, or the University of Nevada, Las Vegas. You see me?

Unknown Speaker 0:25
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, happy, happy, happy New Year, everybody, please forgive me on New Year's Day, I did play a rerun, because I was also, of course, bringing in the new year like you guys were. So anyways, listen, Happy New Years, it's 2022 I think we're all happy to put 2021 behind us and look forward to this awesome year. You know, listen, I'm praying that you guys have made these goals for yourself, I'm hoping that one of the goals are, of course, to become a home owner, or to maybe sell that property and purchase investment properties or even just pull out some of the equity this year. And go ahead and make that equity work for you and become a landlord or, you know, just get that residual income coming in. So I'm gonna say a quick quote that I was sent to me and I really liked it. It says, a dream written down with a date becomes a goal, a goal broken down into steps becomes a plan, a plan backed by action, makes dreams come true. I love that because it's true. You know, we all have these goals in mind. But we really need to, you know, write them down, put some action behind them, and then they will become true. All right. And speaking of one goal that I had, that has become true is I want to announce to you guys that the Welcome Home Team is now official, I have my own team, I'm so excited, I'm happy to have them. They have been awesome already just out the gate 2022 They are already hitting it strong assisting my clients and you know, given me the ability to have a further reach with my clients and take care of more of you guys. So my goal this year for you guys and all my listeners is to assist 100 families I want to meet and my team want to assist 100 family. So me and the welcome home team are going to assist 100 families. And we need you guys to help us make that you know goal come true. All right. So if you have family and friends that you have heard talk about one of their goals is here is to become a home owner, please continue to do what you've already been doing, which is saying, Hey, give Monique a call. She now has a team and she'll take good care of you. And you will be telling the truth. Alright guys, so let's go ahead and jump into it. Listen, once again, my heart goes out to all the people out there that have been unfortunately getting these notes on the door or an email stating, hey, the seller is willing or wanting to go ahead and sell the property that's happening like rampid, you guys, I must get that phone call at least six or seven times a week. And listen, it is really, really hard out there right now, for all the people that are looking for rentals. I'm telling you, I get the call. I got a call yesterday. And you know, the young lady said, Listen, I've got a 680 credit score. And they told me that my credit wasn't good enough that I had to put down a third deposit. I'm like, my goodness. So if you do the math on that, you guys, let's just do that real quick. On average, a normal house, you know, over in the southwest area, for instance, it's renting like a normal, I mean, like a three bedroom, two bath, three bath, whatever, is renting for around $2,400 a month. Okay, that's the norm now that is Las Vegas, his new norm now. Okay. You know, we all wish we would have purchased years ago. But hey, that's where we're here now. So at $2,400 a month, you're going to be expected on average, to pay, you know, security deposit in first, you know, that's about $4,800. Okay, that's basically $5,000 Just to rent, okay, to allow somebody else to make the equity while you stay in the property, but you make no equity. You walk away when that term is done with zilch, zero. And in many cases, you don't even walk away with your security deposit that you gave, unfortunately, I mean, are we going to be real? Let's talk real. Okay. So $5,000 And that's, that's your best bet. Now, according to the young lady, and many of my other clients that have called me you have to have at least a 700 score, or they're gonna hit you with another deposit. Well, in that case, if your credits not where they want it to be, and of course, every property management group runs it differently. But this has been I want to say this is almost the norm right now for that, you know, I I've been hearing a lot of this. So that puts you at $7,200. To rent a property. I mean, that's just, wow, that's a lot of money, you guys. So here's what I'm saying. And this is the reason I'm saying, you know, if you purchase a home right now, at $400,000, okay, your down payment, if you want to do everything on your own, and you've got some savings, you're blessed enough to be able to save some money, your down payment on a $400,000 house right now would be $14,000. Okay, you're going to have what's called closing costs. Closing costs, consist of basically everybody that's touched your deal. In other words, everybody has made it happen, we've got the lenders that have to get paid, the title company has to get paid. These folks, all those fees that they charge is what consists of the closing costs. And typically, that's about another 3%. So that puts you out another 12. You know, $12,000. Okay. So right there, that's $26,000. Maybe you have an 401k If you haven't had a chance to save it. All right. Maybe you have it in 401k, maybe you can get a gift from a family member. You may say, Hey, here's a gift, we want you we want to help you achieve your goals this year. And you know, hey, last year was good for us. Were able to bless you with this money and give you a gift. Hey, if that's the case, good for you. Take advantage of it, because it's not slowing down you guys. The feds, by the way, I don't want to, like jump ahead of myself, but I was reading an article where the Feds expect the interest rates for homes. You know, for mortgages, mortgage loans to go up three times. This year, you guys. So listen, don't sit on your hands. Please don't sit on your hands. By the way. Monique Buchanan your a local real estate, real estate er, that's what my baby she's for. That's what she calls me, a real estate er, but you're a local realtor here in Las Vegas, Nevada. And if you like what you're hearing, or you want more information, my number is 702-984-3700. If this maybe is not for you, but you do have someone in mind that could use this information, or maybe you want to motivate them to become a homeowner this year 702984 3700. Hey, guys, I've got a brand new website, jump on it. It's amazing. A lot of tools on there that you can play around with, you can find out what your home is worth on that website is just got a multitude of things, jump on that website, it is still welcome home with monique.com. Welcome home with monique.com. So let's jump back into it. Like I was saying, if you're thinking of paying everything on your own, and maybe you have a credit score of 680, which is in the higher tier, to be honest with you, that's a higher tier credit score, it's a good credit score, you want to take advantage of the low rates right now, then you definitely want to go ahead and use your own funds. Okay, I do have grant programs available, I have many different grant programs available for you. But if you have a higher credit score, I would always advise you to take advantage of the lowest rates. Because the grants do come with a locked rate. It's not a high locked rate. It's a decent locked rate. But why do that if you're able to get even a point off your race, you definitely want to go that route, if you can afford to do it, if you have the savings or somebody that will give it to you, or 401k that you can pull it out of with absolutely no penalty. So when you have money in your 401 K, you pull it out to purchase a home. No penalty, you guys, so just check with your people on that. And they'll they'll verify that for you. But yeah, so that's one of the perks of having and contributing to that 401k So anyways, $400,000 house, you got 14,000 for your down 12,000 for your closing costs. Okay, that's $26,000 All right now, if you are a civil servant, if you are and I'm just going to list a whole bunch of stuff, so bear with me. If you are a first responder, a police officer, firefighter, public safety officer, a paramedic, emergency medical technician EMT, okay. If you're an educator, a teacher, medical personnel, if you're a nurse doctor, you know, a health ambassador, the list goes on and on you guys if you were a civil servant in the federal, state or local minister, municipality, military personnel, all right, you work for the city, the county, okay.

Unknown Speaker 9:30
In your first time homebuyer guys, you can't already own a home or own property at the time. So if you're thinking of selling that property, yes, we can move forward with the grant. Okay, but but I would need to list your property, get it sold, and then we could turn around and use the grant. Okay, but you cannot currently own a home for this particular grant. Okay, this grant that I'm speaking of is one of my my favorite grants. I know I said that previously, but this grant, it doesn't come out often, and it's out now. And it's for you guys to utilize, and it's going to pay darn near everything. Okay? So let me give you an idea. Remember, you would have had to pay $26,000 out of your own pocket. Okay? If you were to do it on your own, if you use this grant, if you fall within that, you know, that category that I just have the, the the positions right there, if you fall within there, then you're able to use this grant went and you'll come out of your pocket around $1,300 versus 26. You heard me right, $1,300. Because what it does is it pays 6%. So it gives more than any other grant that I know of right now you guys is going to pay your entire down, and almost your entire closing cost. Remember 26,000 Now you're only paying 1300 on it. And of course, this is an estimate, but it's very close around $1,300 is what will come out of your pocket. If you utilize this grant. Once again, that's military personnel, medical personnel, educators, first responders, okay. It also if you're even thinking of becoming one of these, if you can prove that you're in the process of becoming one of these positions, you very well may be able to utilize this grant is that awesome. You guys, if you guys know somebody that is a medic, you know, that works in the medical personnel as a nurse doctor, or just a health ambassador, or works in the hospital, American Red Cross even, okay, civil servants, military personnel, educator teachers.

Unknown Speaker 11:37
You know, I believe even and I'm pretty sure, even folks that just work in the school district is my understanding. So don't worry, I will get you with my team member who is the grant specialist, that will go over all this with you. Okay, so that's what's going to happen is when you give me a call, I'm going to take down your information, my team is going to take down your information, okay? Because the first step is to get you with the grant specialist. So that's what we need to do. Okay, guys, so anyways, that grant is amazing. And of course, we still have the the other grant that you do not have to work in these fields, and you still can take advantage of this grant as well. So this grant, it gives you your entire downpayment, and half of your closing costs. So instead of that $26,000, okay, you will only be expected to come to the table with around $6,000. And guys, It's tax time, a lot of you guys are getting tax returns. So listen, don't go messing off that tax return with you know, three brand new TVs, let's go ahead and go after our real true roles, which is to become a homeowner, it can happen for you. Okay, I have helped so many clients that didn't think that it could happen, my team, and myself will make sure that if there's a way it's gonna happen, it's gonna happen, we'll get it done. Okay, that's what we do. My heart's in this, you guys know how I am. I had a bad experience when I was younger. And I cried and cried because I couldn't get a house. And you know, God lets us go through things for a reason. So that put the fire in me. Okay. When it comes to helping people get homes, especially people that thought or think they can't, they can't do it. They're believing these myths that you have to have all this money, and you have to have an 800 credit score. That's not true. You guys, that's not true. It's not true any longer. But I want to talk to you guys also about these rates, because it's a big deal. And I want to kind of break it down to you. So you understand what it means when I say the rates are on the rise. They are. Luckily, even right now, even if you don't have that great of a credit score. I talked to my lender yesterday, he says, You know what, Moe, even if they have a 620 credit score, right now, they can still get a 3.25% interest on a home loan. I said, What 3.25 I'm, I'm kind of jealous you guys, because I had, you know, pretty darn good credit back in 2017. And I went around bragging about my 4.25. That's a whole point higher than what somebody with 620 credit score can get right now. So what does that mean? Monique? I'm gonna give you an example. So that you can understand what I mean by that. So at 3.25 If you bought a $400,000 home, and you got that rate of 3.25 right now, because remember, rates go up and down, just like the stock market. Okay. But at 3.25 Your payment per month would be around $2,200 for your $400,000 home, okay, now, let's pretend or let's pretend that what the Fed said, which is that the rates gonna go up three times this year. Okay, but we're gonna just do two times we're just going to do two points. Only to you guys. We're going to pretend that the rate goes up, which more than likely it's on its rise and it's going to go up especially by summer, I predict. But let's say that the rate goes back up to around normal just 5.25 your same payment on that $400,000 house is now $2,600. Okay, now do we see why the rates matter? Okay, that's $400 More, you're gonna have to pay a month, just off of two little points. That's why it matters. It matters tremendously. If these rates if you sit and wait, and you let these rates go up on you, and you do not give me a jingle, okay? It's a five minute conversation, you guys, that's all it takes. And my lenders will let you know if you're able to use the grant, which in many cases you will be, it doesn't, it doesn't take a lot. Like I've told you guys, before, I have a grant that only requires a 600 credit score. You can't even rent a house today, you guys without without a 650 or higher. So it's in many cases, it's easier for you to contact me. And let me get you going on buying a house. Because I know you're out there looking for a rental and keep getting denied, denied denied paying these $100 application fees. No, it's a free five minute phone call. And that number is 702984 3700 702-984-3700. And if you ever don't catch that phone number, you can always jump on my website. Welcome home with Monique, if you forget what my website is called. Just Google Monique Buchanan or you can even jump on this website K u and B's website, my informations on there as well. So it you know it might even my Gmail, you can G you can email me. Okay, welcome home show 91.5 at gmail, that's my contact information. Okay, guys, I just don't want you to miss the boat. Unfortunately, I've had quite a few clients that waited. They had reasons that they had to wait. But they waited. And now unfortunately, they just got, they got priced out. They can't they can't purchase him a home, they want a house. But now because they did wait, the markets on the rise. Unfortunately, now that can only you know get like a condo or townhome. And um, it won't work for them, unfortunately. So that's just where we're at. Brand new home builds right now. Right now they're taking six to nine months to build. Okay, that's a long time, but that's what they're taking right now. So, you know, I used to be able to go out there and grab a brand new home for my clients. But man, you can't even find anything. Man 400,000 You can't even find anything brand new right now it's very, very difficult to find something brand new, even at 400,000. So, you know, that's just where we're at our our market is, is, is on the rise, you guys. So I've been preaching this preaching this, but it's actually happening. So I don't want you to miss that opportunity. I'm trying to let you know about the grant programs that are available. So if you're thinking of purchasing this year, listen, I'm here to help. My team is here to help. We will get you out there and get you home. Okay, so now if you already purchased even last year, you're sitting on quite a bit of equity. Especially if you purchase a couple years ago, okay, I've got a couple of clients that they they bought around when I bought, they're sitting on almost 300,200 $50,000 in equity. Well, Monique, what's equity? That's your money. That's what it is. So, you know, hey, if you purchase a home last year, or not last year, but maybe three or four years ago, for 200,000. Okay, now that house is selling for 450,000. Guess what? You just made $250,000. Okay, and yes, you can access that, that equity, you can grab hold of it, 80% of it, you can take hold of Do you need stellar credit to do that? No, you don't. Okay, I can guide you through that. It's called a cash out refi. I've got my team that does that. And I've got quite a few of my ex clients, ex clients, you guys are still my clients, but my previous clients that have reached out to me and heard the previous show, and they bought they bought investment properties. They bought condos they bought for plexes dealing with a young lady right now that's about to buy a four Plex, she's gonna go ahead and pull out some of her equity and turn around and buy a four Plex. Okay, so what you can do is go ahead and pull out up to 80% of that equity. It's easy peasy. takes three weeks. All right. You don't have to use a just all of it for to purchase the property. Maybe you want to pay down some credit cards is here. You know, get rid of that high interest. You know, there's maybe one pay off your car, you can use that equity for whatever you so choose, okay? You don't even have to buy investment property. I would highly suggest it that way. You could start making residual income. Okay, make it make that money, make more money for you. Okay, and also make more equity on the second and third property. Wouldn't that make sense to keep building that money? But you can use it for whatever you want you guys, I'm just here spreading the word. That's what I do. I want to tell you things that I think that maybe you don't know. Okay? So you can go ahead and get with me, I'll get you with my lender, we can pull out up to 80%. If we need it, we might need it we might need, we might only need 40 or 50,000. And then what we'll do is go ahead and purchase those properties or property. rent them out rent is high right now. So you'll definitely make some a good return and get you going. Okay. And also, if you own a home, and maybe you've outgrown that home, or maybe you want to downsize, you know, did you know that you can go ahead and rent that property out, you don't have to sell, I'll be happy to sell it for you. But you don't have to sell you can rent that property. Turn around and buy a second property? Do you need stellar credit? No, you don't. You could have a 620 You heard me right. So if you own you own the home you're living in right now. You can give me a jingle. Okay, we can rent that property out. Start making residual income from that property. And go ahead and buy you a new bigger, better house at a lower rate. How does that sound? You guys know Okay, guys, my phone number is 70298437007029843700. Welcome home with monique.com. That's my website. And it's great. Check it out. You guys. Listen, let's go ahead and just do a quick recap. Well, first of all, my my goal for myself and my team this year over at Welcome Home Team is 100 families, we want to assist 100 of you guys 100. And I can't do that without your help. So my ask from all my listeners is please continue to refer me your friends and family. It does not go on Oh, this I'm so thankful and grateful for it. I am so thankful that you trust me with your loved ones and people that you care about. And let me tell you, when I bring them on, I treat them just like they're my family. Hey, when you call me this is how I sound even when you talk to me, nothing changes. This is me. But anyways, that's our goal for my team is 100 families this year, and I can I can hit that goal with your guys's help. So please help me. Alright guys, so let's go over what I was saying. I wanted to say to my renters out there, if you're driving around, and you've been putting in these $100 application fees, over and over and getting denied, for whatever reason they give you listen, it's time to think about giving me a call because I can have a five minute conversation with my lender and possibly get you approved. Very possibly. Because listen, I have got programs in place, you only need a 600 credit score in two years on the job. Alright, two years of being employed in the same field basically. So maybe you did change jobs, it's okay. It's okay. As long as it's within the same field. Okay, customer service customer service. Okay, driver driver, okay, we can't be a barber and then become a, I don't know, I don't know, flight attendant, that would be considered, you know, something different, we'd have to start the clock over on the two years. And that's what's not just the programs, that's just getting a home loan period. Okay. But, you know, there's ways to have things worked out, maybe you have a spouse, and they have two years on the job. But anyways, that's, that's pretty much the minimum requirements, guys. 600 or higher credit score, two years on the job. Okay. So another thing is, I was talking about the cost, okay? The cost right now, on average, in the southwest area, your house, a three bedroom house is causing around $2,400 a month. Okay. So that's about $5,000 to move in after you pay first and last. And this is we're talking about renting. We're not talking about a down payment. Sounds like a down payment, right? But it isn't, it's just to rent the property $5,000 to give another person an opportunity to make equity and not yourself for your family. You're gonna pay them so that they can make equity on the property that you're living in. Okay, we don't want to do that. But listen, $5,000 Now, if your credit scores under 680 700 I'm hearing that you have to pay a third deposit in many cases. What does that mean? Money that means $7,200 Okay. $7,200 to rent a house. That's crazy, guys. You know, for us, Las Vegas, folks. We've been spoiled for so long that it's just it's unbelievable for us, but that's where we're at you guys. That's where we're at. So anyway, $7,200 If you don't have stellar credit, just to rent an average house in the southwest area. Okay. Now with my programs, you can buy a beautiful $400,000 home. Sorry, home and only pay $6,000 out of your box your pocket. Okay? You just heard me right? Do you want to rent a property for possibly $7,200 out of your pocket? Or do you want to purchase a property for $6,000 out of your pocket? And that's it. Now listen, if you are a civil servant, if you're military, if you're a nurse, if you're a teacher, the list goes on. If you work for the city, the county, then you could possibly buy that same house with another grant program that I have, and come out of your pocket. $1,300 You heard me right, guys, it exists. It's happening every day. I'm closing these houses every day with my clients. All right. So if you know somebody that is a civil servant, then listen, let them know, you can rent a house for $7,200 or you can give Monique's team a call, and they could possibly get you into a downpayment assistance program that will have you come out of your pocket with around $1,300. I mean, that's a no brainer, guys, right? All right. So $6,000, if you're not a civil servant, that's around what the cost would be out of your pocket for a $400,000. Home. I mean, guys, it just doesn't get any better than that. I'm like, my goodness, you know. So that's what I've been talking about. I also was talking about the rates are on the rise, you guys. So if you missed the first part of my show, I always upload these shows onto my podcast, check it out. Welcome home with Monique on Spotify. So you can jump on Spotify, welcome home with Monique and you'll find my previous shows. And you can also check out my YouTube channel. I'd love that came out on my YouTube channel. And that's also welcome home with Monique. Okay, so there's plenty of platforms for you to, you know, go ahead and listen to what I've been saying on these shows, and share them with your friends and family. Okay, you can also share that information with them. So once again, guys, the rates are on the rise. If you purchase a $400,000 house right now, with only a 620 credit score, you can still secure a 3.25 rate Now mind you, you know they go up and down. So at that rate, your payment will be around 24. No, I'm sorry, $2,200 a month 3.25. Now, if you continue to sit on your hands, and the rate goes up even only two points, okay, which is expected to happen this year, it probably by summer or spring, then guess what your payment just went up to $2,600. So that's why I keep preaching about the rates, you guys the rates, the rates, the rates, they're low, do what you can to become a homeowner before these rates go up. I don't know what to do you guys, I'm pretty much I'm almost ready to go get a sign and stand on the corners. The rates are on the right rates. Please, please. No, but seriously, I just want you to see that just cost you $400 a month. Two little points. Please hear me. Don't sit on your hands anymore. Even if you own a home right now. And you're you've been looking at the big beautiful homes, hurry up and buy the house because you're probably going to have the same payment. Okay, as the little house you have now because you probably bought it a couple years ago, and your rate was higher. So now you're gonna buy a bigger house, but the rate is lower. So your payment is going to be lower or the same. Okay, but a bigger house. That's why it's so important. And that's why I talk about rates so much. So listen, I love you. I'm hoping that you guys have your goals in place. I'm with you. On your goals. I've set a couple of mine. We're going to we're gonna hit our goals this year. Yes. So if one of those goals is homeownership and you've been hearing a friend or family or loved one talk about it, you know my number it's 702984 3700 or they can jump on Spotify. Welcome home with Monique. They can jump on youtube welcome home with Monique or they can go on my wonderful website my brand new website. Welcome home with monique.com Alright guys love you talk to you soon and I'm waiting to hear from you.

Unknown Speaker 29:09
Thank you for listening. This is Monique Buchanan my license numbers S 1788 46 and I am part of EXP Realty Tune in next week.

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