Welcome Home with Monique

Wesley Knight 0:00
This is a KU NV studios original program. The content of this program does not reflect the views or opinions of 91.5 jazz and more the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education. But

Monique Buchanan 0:22
you still don't on the radio, 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. Good morning Las Vegas. It is Monique Buchanan, the host of the welcome home with the Monique show. And of course, I have none other than Miss Rebecca coins on with me this morning. Good morning. Rebecca, good

Becky Coins 0:51
morning. Mo sounds funny. Calling you I know I was gonna say sounds so

Monique Buchanan 0:55
formal. We're gonna call you Becky. And of course, I've got none other than Mr. Anthony Valentino, are you there?

Anthony Valentino 1:02
Tone, Aloha, Mo, aloha. Becky, how are you guys?

Monique Buchanan 1:07
Aloha, aloha. So you guys, if you don't know, he's calling us from what we call here in Las Vegas, the ninth Island, which is Hawaii, and it's beautiful out there, isn't it?

Anthony Valentino 1:17
Tone, always send me in seven, seven.

Monique Buchanan 1:23
You breaking up a little bit. So I always get on him, because sometimes when he's driving by, oh, he tells me, Oh, Monique, I'm driving by this waterfall. Every time I drive by the waterfall on the way to my house, I lose reception. I'm like, really, really, Anthony,

Becky Coins 1:36
make us haters. Make us haters, really.

Monique Buchanan 1:41
So we've got a great show for you guys. Listen, there's a lot going on, a lot going on. I'm sure you guys are well aware of, unfortunately, the government shutdown that's going on, amongst many other things that are happening, which also does affect, you know, real estate as well. So we're going to talk a little bit about that. You know, some ways to pivot and and just what's going on in the market right now. Anthony, you want to, you want to kind of, in fact, let's just go ahead and start with that. Let's just start with the government shutdown. How does this affect our listeners out there, our potential buyers or our potential sellers? You know, are having those water cooler conversations at work, you know. So What? What? What do you have to say as a professional in this space, and you're seeing the numbers and you're seeing all the things, what do you say about it?

Anthony Valentino 2:30
Okay, so here's the deal. The government has been shut down for 32 days now as of today. So what does that mean? That means that this will pass. Yes, it's making it burdensome for the United States to continue to, you know, motion forward, but we will come to a consensus hopefully within the next week or so, so that way we can get back to business. Because the economy is looking better and it's looking better every single day. We're locking in the fives right now. Yes, six months ago, we were in the upper sixes. And so it's it's looking good. What I tell people is you, you don't want to base your decisions of home ownership off of fear. You want it to be based off of calculation, and that's where you Monique Becky myself, come in to dispel the fears and to empower our clients with confidence education and math, so that way they're making decisions based off of themselves and not based off of fear, absolutely.

Monique Buchanan 3:36
And you know, everybody always has that question of like, oh, is it a good time to buy? And I'm like, Listen, if you're buying a home to live in and not flip it, then yes, it's always a good time to buy right? Because at the end of the day, if you're gonna live in it, and you're gonna build generational wealth, and if you hold it for at least, what, three or four years, you're always gonna walk away, in most cases, with way more than what you paid for it. So, and I know that's kind of like off topic, but they are asking me now that you know, with that, oh, with everything that's going on in the world, government shutdown is a good time to buy. Well, do you still want to live indoors, right? Or do you want to have somewhere to live? Because when you rent, you know, that's the that's the worst time, or the worst scenario, because you're paying, you're making absolutely nothing. And I know that was kind of off topic, but that is something, even with the government shutdown, people are nervous, right? Yeah. In fact, let's touch on your client right now. You have a veteran client that was worried about not seeing a paycheck in the middle of buying with Anthony, yeah, she's

Becky Coins 4:34
active duty. We're working her deal right now. And that was kind of one of her big, big fears was, what if I don't get paid?

Monique Buchanan 4:42
Yeah, just so you know, she's in escrow right now with Anthony and Becky. So she's in the process of purchasing. She found the home that she wants. Now she's nervous, and I'm sure there's some people listening to us today tone as well, but, but you know, Anthony, I like what Becky told her, she actually shared a story. From her own son, who just recently closed on his property. What with you, Anthony, maybe two or three weeks ago, and he's also in the service, active duty, right? Yeah. So share that story with the listeners. There may be somebody out there listening that needs to

Becky Coins 5:12
hear it, yeah. I mean, he's active duty, and he was a little nervous because we were going through the process, and he was like, what? What's gonna happen here? Like, what if I don't get paid this week? What? What's the deal? Maybe I should pull back. Maybe I should not continue with this deal. And I, you know, I kind of broke it down and told him, I said, you know, at the end of the day, you will get your pay back. You are a government employee. You are active duty military, even if this goes on a little bit, you know, you're still going to get paid at some point, right? So you should keep going forward, because at the end of the day, if you're in a rental and you can't make your rent payment, they can kick you out. I mean, they can do what they can do, but if you own your home, you have a mortgage. As soon as we close, that's it. It's your house, right? That mortgage company will work with you even on day one, they understand there are protections in place for people who are in that situation. And like I said, and you're going to also skip that first mortgage payment. So that's going to give you the breathing room, because you're not, you may not have that paycheck. It may take them a month to get you paid, right? You're not going to have that mortgage payment

Monique Buchanan 6:17
due. That's a great, great point to make that. Listen, whenever you purchase a home, Anthony always skips one month of mortgage, sometimes two. So, like she said, so God forbid this continues on yet another month at least. You know, hey, I don't even have a payment. So if I close on this property, let's say December 1. My first payment is not till February and possibly March. If you tell Anthony you need two months, he can do that as well. He can line it up to where you don't have your first payment till March. Isn't that right?

Anthony Valentino 6:47
Anthony, that's right, yeah. Typically, we push it out. You know, if you are closing, you know, December 5, you're not having a payment for December. You're not having a payment for January, your first payments, not until, you know, three months into it, you know, you until February and and the good news with mortgages is you have a 15 month or 15 day grace period. It's long time between the first and the 15th. So what I usually tell my clients is, just make it auto pay bi weekly on the first and on the 15th, so that way you don't get a big mortgage hit at the at the beginning of the month or the end of the month, and that way it spreads it out, and it helps them, you know, manage their bills. And so that's the beautiful thing about mortgages. You can't do that with rent they want it. You know, day one, day three, maybe some give you grace of day five, right? With mortgages, that's not the case. Well,

Monique Buchanan 7:39
you hate these be piling up too, yes. But listen, you know what else is great about that system? Anthony, paying, splitting your mortgage up into two different payments per month actually saves you a ton of money and interest.

Anthony Valentino 7:53
You know what I mean? Tripping the amortization schedule. Yes, when you look at the amortization schedule, when you're making a payment ahead of time, you're tripping it, and you can take a 30 year mortgage and make it a 20 year just by, you know, making three extra payments a year. You can shave off 10 years on your 30 year escrow, right? Which is amazing, that is so much money on interest, yes, and if

Monique Buchanan 8:16
you don't want to make the three payments, you can do what Anthony's saying is, just simply, if your mortgage is 1500 750 on the first 750 on the 14th, you know what I mean. And now that also shaves off years off of your mortgage, because you're saving so much in interest, so but the point of the matter is, is exactly like you said, Ma'am, when, not only when you're a veteran, you know, but especially as a veteran right now that wants to purchase right now you have those safety nets in place. Whereas, if you're renting right now, there are no safety nets in place. You have to pay your rent. Banks do not want your property. After you own that property, they don't want it. They're going to work with you. So that put the lady at ease. That put our client at ease. Right she was Yeah,

Becky Coins 8:59
after talking to her, and I also explained to her, we just went through the same thing with my son, like I'm not telling you something I didn't tell my own child, so never, Yeah, she definitely felt much, much better, right?

Monique Buchanan 9:09
And so she's gonna move forward with her purchase, and after she closes on that home, she'll be safe in her home. Yep, absolutely right, Anthony, so that's a great point that Becky made happy, that you shared that

Anthony Valentino 9:20
you have, you have more options, right? Because, like when you rent, you don't have any options. They can tell you, if you don't, if you can't pay, you're out, yeah, five day mortgage. You have those deferments, you have those forbearance you have those options. And more importantly, if this drags on, God forbid, for months, then that's when there will be appropriations from the government mandating these third, you know, private sector companies to say, hey, you have to give reprieve here. You have to give some some some help. And so that's what you get with home ownership rather than just renting, right?

Monique Buchanan 9:56
Because those, those mandates do not apply to renters, is. My understanding that's correct. See, guys, that's what I'm saying. There's so much security in owning versus renting. There's just so much security in owning versus renting. So, yeah. So, um, so, yeah. So, right now we're looking at the fives here. Let's, let's shine some light. Let's try to jump on the happy train. But honestly, you know, my heart goes out to everybody that's going through this. And you know, I want to try to give some resources where they can find some even food, you know what I mean. But anyways, with the rates right now are temporarily down because of this shutdown. So you're telling me now that we're in the fives. If they do the buy down, which we do, we put all of our clients in the buy down for the most part, because we go after the money. We go after the closing costs. When we're representing our buyers, we're going after the closing costs. Because, guys, that's the market we're in. When I'm representing my sellers, I'm over there, like with a shield, like a like a Roman soldier, blocking, blocking the, you know, the request for closing costs, and teaching the other agent how to roll that into your clients loan. So, but that's what we do. We pivot, right So, but right now closing costs, we can take those funds and do what's called the three one buy down. You guys have heard us talk about it many times. Well, guess what? Right now, because the rates are organically in the fives, Anthony has just informed me that with that buy down, you can get your rate all the way into the threes. What does that mean for you? In other words, let's make this easy to understand, Anthony, if my mortgage is $2,500 at my current rate of 5.75 when you sell me a house, right? Then you do the three one buy down, around, of course, doesn't have to be exact, but around how much does that save me per month for year one at 3%

Anthony Valentino 11:46
So say, for instance, you lock right now at 5.75 and then you got mo or you got Becky, that it be able to get you that two one buy down to bring it to 3.75 for the first year, 4.75 the second year, and then 5.75 year three Through 30. So make no mistake, this is a fixed rate at 5.75 but rather than dropping the interest rate maybe a quarter percent for the full 30 years where you're saving like 50 bucks a month, it pushes all of the savings into the front of the loan. So when you drop that rate to 3.75 you're saving on an average $400,000 loan, amount $521 a month per month, 521 for the first year, and then the second year, you save almost $300 a month. And then after year two, year three through 30, is that fixed at 5.7 but we know in the next three years, the chances of refinancing are going to be so high, and so you're going to be able to take advantage of buying a house now with the rates that we're going to see in two

Monique Buchanan 12:46
years, right? So basically, like, what he was saying is, you're going to save $500 off your mortgage out the gate when you, when we, when me and Becky, negotiate those closing costs from the seller. We turn around, give those closing costs to Anthony. Anthony then puts those closing costs towards your first year instead of your payment being 2500 let's say it will be $2,000 and then year two, instead of it being $2,500 it will be 20 What 2300 or 2200 right? So 22 2200 so then there, let's say that we actually do make it to year three. What would that payment be? 20 120 or 2000 or no? No, it's gone, going the wrong way, going the wrong way. What would it be? Anthony, help me out. I've gotten lost.

Anthony Valentino 13:30
You did perfect. So I mean, just to give you an example, for 400,000 for the principal, the interest, the taxes, insurance, you're seeing about 1900 for year one. There we go. You're seeing about 2150 for year two, and you're seeing around 2480 a month for year three through 30. So you were spot on. You were right there.

Becky Coins 13:50
Oh, now, Anthony, I want to clarify for people that are listening too this is a fixed for the entire 30 years. So after those two years that you're getting that reprieve, you you, if nothing else happens, and you can't refi, they know out the gate what their max payment is going to be for the remainder of their loan. That does not

Monique Buchanan 14:09
not an arm. This is not an arm, people, we are not doing arms.

Anthony Valentino 14:12
That is correct. Yeah, no. There's no surprises. You are going to know what your payment is, because this is a 30 year fixed, but it is, it is incentivized, or the rate is reduced for the first two years, but it's still, you know, we're locking right now. FHA with over 620 FICO, three and a half percent down. You know, debt to income ratio under 57% they're seeing right now. It was 5.7 on Monday, but because of the Fed meeting yesterday, it's now up to 5.9 so it's not as pretty, but we're still in the

Monique Buchanan 14:48
five. That's awesome, which means we can be in the threes when we get that 15,000 and closing cost for you. That's what we're doing, guys. So that's where, if you're with somebody, listen, I. Want You to Know. I hope and pray you guys, would you know? Consider using me and Becky to represent you in your home purchase or sell, but even if you don't, for some odd reason, right? I hope you know that we are in a buyer's market, which means you have the ability to ask for closing costs, and you should be asking for closing costs. Now, obviously, if you're looking at a property that's only $300,000 and it happens to actually be a house, there's probably going to be multiple people going after that. Likelihood of getting closing costs, you still have some likelihood, but it may maybe a bit a little bit less than if you're looking at a 400,000 or $500,000 house where you don't have multiple people trying to buy that property. You better make sure you're asking for closing costs right now, or else you're cheating yourself out of 1000s of dollars. Hear my words, that's right. Am I lying, Anthony, I try not to. You know. I know. And

Anthony Valentino 15:53
you're one of the few realtors that you guys are not afraid to roll up your sleeves and and you you do your homework. When you roll up to a house, you're looking at the comparables, you're looking at the comps, how long those houses have been sitting, what the inventory is with that, you know, you ask the questions from the seller, hey, do you have any offers? You know, what are they motivated? These are the questions that your Realtors need to ask, not just open doors, but open opportunities for the buyer to really take advantage of this market. It's all about opportunity. When the government shut down, that is a big neon sign that says opportunity, and it's flashing, and people need to take advantage of it.

Monique Buchanan 16:32
Yes, yes, yes, but they don't. They don't understand how that works. Like, you know, what is the saying when it's a down market? That's, who is it that said that? That's when you buy? Yeah, when? When everything, when everybody else is Yeah, Warren Buffet, when everybody's sitting on the sidelines and they're not jumping in, that's when you do jump in, and that's when you do buy.

Anthony Valentino 16:49
Favorite quotes from him are these, when everyone says not to buy, that's when you buy. When everyone buys, that's when you don't. And the other one is, rich people use their own money. Really, really rich people use others, aka, you leverage debt for revenue streams. And that's what a physical asset. That's what real estate does for people. It creates revenue streams. You're paying down that principle. You're paying yourself. You are earning equity. There's only been two times since 1932 that houses have not gone up. So that is historically facts where you're going to see appreciation, and then the tax incentives alone are something that our listeners probably don't even know, that when you buy a house, you can write off the cost of that house. You can write off the maintenance, the insurance, the interest, the taxes. You're going to have a fat check in February because now you have an asset that is a tax umbrella for you. So there's so much good stuff when it comes to

Monique Buchanan 17:45
home ownership, you know, I like how you said, you know, for me, I just bought that investment property. Now I've, I've probably dumped, I don't know, close to 50 or 60 with the down payment and all the fixing and all that, right? But what that does for me is when tax season rolls around, which is, in just a couple months, I get to, I get to write all that off of what I've made for the year. So that's huge. And you told me, you know, hey, Monique, you know, get ready, because we're in the months where I start sending you all my investor clients. Because what they're doing is these people are looking for investment properties. Because they've just been told that, hey, if you don't find some property, or, like you said, if you don't find some debt here, you're gonna be hit with $100,000 tax bill next year. So you always tell me, Mo, strap in you and Becky, get ready, because everybody's buying investment property. So a lot of people think it's just cars. You know, you'll go see people that'll wait till the end of the year, and they'll go buy $100,000 truck that's over 6000 pounds, because they know that they can write that off for their business. Well, you could do the same, but purchase a home, which when you drive off the lot in that truck, you're losing money, but when you buy that property and that investment, you're making money, you're making money, and you have way more tax incentives throughout the year besides that truck, that truck is just a payment. That's it, am I right?

Anthony Valentino 18:58
Anthony, yeah. I mean, so I want everyone who's listening right now to turn that dial up. I'm about

Monique Buchanan 19:05
to drop, drop the nuggets. We need the nuggets.

Anthony Valentino 19:09
I'm about to drop some, some cheat codes for my, for

Monique Buchanan 19:14
my he's given to our listeners the 80s. Oh, the 80s. Only the 80s.

Anthony Valentino 19:18
You know, you know, you know the con. You know that

Monique Buchanan 19:21
I'm 70s myself, by the way, I'm 70s. Give

Anthony Valentino 19:25
the cheat code. All right, give the cheat code for the for the Infinity man, the Up, up, down, down, left, right, left, right, A, B, A, B.

Becky Coins 19:32
I remember those days. I remember those days. Oh, gosh.

Anthony Valentino 19:36
So here's the sheet, here's the cheat code, right now, you ready? Turn it up, debt equals income and income equals debt. The more income you create, the more debt you make through taxes, the more debt that you create, the more income shelters you create. So just like you said, when we get a big bump of investors in October, why is that? It's because they understand the game. They understand that if they're making 100,000 in income, they need to find 100,000 in debt to wipe away the liability. So at in October, for the smart ones who call their CPAs and go, Hey, how am I looking for this year, they're going to go, Well, you made more than what you thought. You're either going to write a check to Uncle Sam for 50,000 or you can put 50,000 down on a house and create a debt position and pay yourself. And so that's why, in October, we got a lot of investors buying $6,000 cars, 6000 pound cars, or investment homes, because they're trying to find debt to to offset the income that they made in that year. That is the secret. And you don't have to be millionaire to do that. You know, you can look at how much you make. And if you're going to pay 1015, 20,000 in taxes, you might as well buy a condo and put 20,000 down. And then when it comes time to tax season, you don't have to pay it, because you have depreciation, you have cost segregation, you have write offs. Now you're not paying Uncle Sam, you're paying yourself. That is a life hack, right there.

Monique Buchanan 21:09
That's a huge life hack. Yeah, no kidding, because a lot of people are unaware of that, you know. And so like you said, you could start building your generational wealth, but at the same time save yourself some money, quite a bit of money, things we should have learned long ago, right, right? So, yeah, so if you're just tuning in, let's I haven't even said this the whole show, 702984 3700 Don't worry. I do say it at the end of the show as well. But you can reach us at 702984 3700 and we can go ahead and answer some questions for you. If you're thinking about selling a property, buying a property, we are here to assist, okay, and we're never going to guide you down a road that we wouldn't take ourselves. Okay? So also, you can check out my website at welcome home with monique.com IG, my handle is at realtor. Monique Buchanan, Hey, Anthony. I want to thank you, brother for coming on and enlightening my wonderful listeners about hopefully, a couple things they may not have known that can bless their lives. So we always appreciate you coming on tone,

Anthony Valentino 22:09
you got to Mo, I appreciate you so much.

Monique Buchanan 22:11
Thank you, brother. Talk soon. Okay, guys, so let's wrap the show up with a couple of my new listings. Yeah, you guys have heard me talk about them, but they're actually live now, so you can check them out for sure. In person. Becky is always happy to pop on over there and show you the property. So the first one is 3806 internet Avenue, you guys have heard me talk about this single story property. It has the pool. It has fruit trees. We're talking lemon trees, pomegranate trees, lime trees. It is sitting on a quarter acre, which is hard to find in Vegas, right? And not just any old RV parking. It has the extended RV parking and the RV parking hookups, right? Three car garage. It's a single story, and it is a four bedroom with four baths. You heard me right. Three of the bedrooms have their own private bath. So it's like junior suites, the master, or should I say, primary, and then the two, besides that, have their own full bath, right? And then you have the half bath for the guest. Double oven, you know, upgraded appliances. So anyways, 3806 internet Avenue, okay, and so I'm so excited to announce that we are live. We are live. You can see the actual pictures now of inside the home. All of that is right online. You can check that out. The address is 916, Carrie Grove, 916, and that's C, A, R, E, y, Grove, North Las Vegas, 80 9030. That is my corner lot, you guys, oversized corner lot, sitting at about 6500 square feet. The home itself is 2222 square feet. Four bedrooms, right? Three full baths, full so each one of them has a shower or a tub, okay, also does have a bedroom downstairs. That's also a thing to have, because you never know when you can't do those stairs anymore. And if you have a guest, or you have a pair or somebody move in corner. Lot Like I said, the solar is going to be completely paid off at closing. Living in the desert with free power, basically. I mean, your solar is paid off. So that address, address is 916, Carrie Grove, Avenue North Las Vegas. 89030, you know, it's, you know, it's hard to find these corner lots like this, you know, and it's only had one owner that's not common either. No, is. That's what I'm saying. That property is, is very uncommon. So once again, you guys, 916, carry Grove Avenue North Las Vegas, and I'm not sure if I mentioned the internet. Property is also a four bedroom, and each one of those bedrooms, except for one, has its own full bath as well, but and it also has a pool, I don't think I mentioned that in the backyard, right under those fruit trees. I. But yeah, so 916, Carrie Grove, it has went live this weekend. So, you know, agents out there, you can go ahead and start showing that one. They're both four bedrooms, and the other one is 3806 internet Avenue, both are live, so you can go see them. There will be an open house. When is it? Becky's

Becky Coins 25:17
Monday, right? The first one is Monday, from one to three, okay,

Monique Buchanan 25:21
perfect. And then we do have another one Saturday, the eighth so not today, but next Saturday, it will be from one to 312, to four. It will be from 12 to four.

Becky Coins 25:31
Are you sure? Yes, one to three on Monday, 12 to

Becky Coins 25:34
four on Saturday. What would I do without you? I don't know. I know good thing. We don't have to figure that out. No, let's not do that

Monique Buchanan 25:41
20 Years Strong. We'll keep going. That's right, all right, guys. So we appreciate you guys listening to the show. I want to give a couple shots out to my clients out there. You know, I had a couple call me and say, Mo, we listen to you all the time, and you know, we feel like we could trust you. I said, Oh, I hope you can trust me. I said, I'm not gonna tell you anything I wouldn't do, and I'm definitely not gonna block my blessing. So I appreciate all of you guys out there that do trust us in helping you with you know, selling your property or purchasing, we do appreciate that. And until we hear from you that's right, have a great weekend. Have a great weekend. Guys. Bye. 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.

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