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

Music 0:22
you still don't on the

Monique Buchanan 0:27
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. Well, hello Las Vegas. I am super excited for this Saturday's show. We have got updates. You know what? A lot's been going on. You guys have seen it all over the news. A lot of them shifting happening, you know, within our country, as well as within the housing market, right? So I've got my team, by the way, I want to give a shout out to my lender. Let me tell you guys something. It really matters which lender you choose. The years of experience that I have in real estate have taught me that the lender that I connect my buyers with will make or break a deal, okay, will cancel some dreams out. I just want to be straight up with you guys. You know how I talk to y'all, like cousins. It matters going to your bank matters because that file will sit on that desk over the weekend, but your real estate transaction does not stop. If that makes any sense. Now, I'm not bashing banks. They've got great rates, they've got good incentives, but you have to understand, you know what else that also can mean for you, if you go for a bank versus a mortgage lender who he does not eat, unless you get that house, the bank employee clocks in and clocks out. I mean, just you make your own decision, but I'm just putting it out there, but I have, I am blessed to have, he is able to give you a loan that will make it all the way to keys in all 50 states here in our beautiful country. Okay, not a lot of people can say that. I can say that and say it with confidence. I have been dealing with Mr. Valentino for over four years, and I have yet knock on wood to lose a home for my buyers. Okay, so that happens quite often. I want to be honest with you, if you pick the wrong lender, you know things pop up. Life happens. You know things that you didn't know were going to pop up in to your file. Come up within that 30 days of closing. And now, if you don't have a top notch lender, they don't know how to get you out of it. They don't understand or know the rules and update themselves constantly on the ever changing rules, so that they'll know how to, you know, accommodate that situation and get you over that hump. And that's why I'm such a cheerleader for Mr. Valentino, because he has proven time and time again with many of my clients who have had issues come up that they didn't even know were going to come up that should have cost them their home, and he has got them out of that situation. So needless to say, I'm obviously bringing none other than Mr. Valentino with guaranteed rate on my team, lender, and as always, my right hand gal, Miss Rebecca coins,

Becky Coins 3:25
hey, Mo, hey,

Monique Buchanan 3:29
almost called you. Hey, Anthony, are you there?

Anthony Valentino 3:33
I am. How are you? I'm great.

Monique Buchanan 3:35
Was that a good introduction for you? Or

Anthony Valentino 3:39
that was absolutely amazing. You didn't say anything about how you're an icon agent, oh, you know you're seven days a week, and how you completely, you know, are a visionary for your clients and and how you make things happen that most people didn't think could happen and, and that's a testament to your drive and to your focus, and that's 100% your client. So I just want to commend you.

Monique Buchanan 4:02
Want to commend you. Well, I appreciate that. But you know what? It's a team effort. You know what I mean? Becky is part of my team. She's out there. She pays attention to the small details. She gets out there and gets my clients the home that they want, drives them around. You are my lender. You are working those numbers. You're not just skimming the surface, but you're deep, diving into every aspect of what they've got going on in their home, so that you're saving them money, not only on the home, but you're going deeper. You're saving them money on their cars, all kinds of stuff. I'm like, blown away with the deep dive that you do that I never seen, you know, in the in the decade that I've been doing this, I never seen it until I until God sent, you know, sent you my way. Most lenders just look at how they can get paid. And forgive me not. I won't say most, most lenders, yeah, I'll go ahead and say it. Most lenders are just skimming over the service to see how they can get you approved. And go ahead and do the deal, but you're looking at the full picture. You actually care. And. Then I've also got my administrators, you know, Liz and sheen. They're over there doing the back end, checking in on my clients, you know, sending them what they need. So it's not just me. I'm grateful. I'm thankful that God put me in this position. I love what I do. I love to help people achieve their home ownership dreams. But I don't do it by myself. I have not reached icon agent, which, if you don't know what that means, it means top 3% within my brokerage of 90,000 Okay, that is not my accomplishment by myself, but first and foremost, by God, but you guys, as well as my team. So just want to give you a shout out. Okay, now that I've patted everybody on the back, I love you guys, and you know how? You know who else I could not have reached icon status with out my KU and V listeners. They listened to me faithfully for years. They'll say, Mo, I listen to you every morning, on Saturday, you know, on my way here, there and everywhere. You know, thank you for what you're telling us. I would hope that they would use us as a team. But even if they don't use us. Our heart is in it. At least they know what's going on within the deal, because they've listened to the show. Is that, right?

Anthony Valentino 6:07
Anthony, yeah. I mean, that's, that's, you have it spot on. And nowadays we are less working on transactions and more, you know, alleviating obstacles and educating and breathing confidence in because in this world, in this day and age of AI and technology and social media at our fingertips, we have a lot of data but but that data can oftentimes be incorrect or subjective, and how do we take that data and convert it into information we can use and, more importantly, benefit from. And that's where you and I come in. We take a lot of data and we crunch it down to information that's easy to digest and that's informative. And buying a house, it's not just about a transaction or a monetary aspect. There's a why behind every house purchase, and once people understand what that why is, if it's for generational wealth, if it's for their family safety, if it's for financial security, once people understand the why behind the house purchase, then that's where you and I come in to show them the path, not only esthetically, but economically. And it's more of an education that I take my clients on, rather than a transaction, because I want them to know what their payment is, what their out of pocket is, how they're doing, the financing, where the market was, where it's at now, where it's going. All this information to breathe confidence into them. They know their payment, they know they're out of pocket, and they know, more importantly, their debt to income ratios, their loan to values. They're like many economists with just very easy, basic, not rocket science, information that we feed them when they go through the process,

Monique Buchanan 7:55
yes, and that's exactly what we pride ourselves on, is, you know, making it in everyday English. You know, I always talk about that one commercial they show the real estate said something, or the realtor said something to their clients, and they're like, the people were looking like, what is she's talking about? And then the guy comes in and says, This is what she means. You know what I mean? Because you know we're you know. You only know what you know. And if your profession is in health care, why would you know

Becky Coins 8:18
absolutely? And buying a house scary. It is very scary purchases

Monique Buchanan 8:22
of your life. So you don't want to be in the dark, you don't want to be confused about what's going on or what's coming up next. It's a 30 day adventure, but we try to make it as less painful and you in the know as possible. So with that being said, let's talk about the rates and what's going on right now. Anthony, as far as rates, people are hearing all kinds of stuff about rates. Can you kind of hone it all in for everybody out there, where we were, where we're at, where we're going,

Anthony Valentino 8:52
absolutely, and you nailed it. In order to know where we're going, we need to know where we're at and where we were, and in an easy to understand way. You know, we have two different types of things that we look at for the market, and that's the interest rates. And then the market is the Fed rates. Now, when people hear online or through social media or on the news that the feds have lowered the rate, they're not talking about the mortgage rate, they're talking about the Fed rate, which, in easy terms, is an overnight cost that the banks charge other banks to lend money out. So the central bank lends money to Wells Fargo, Bank of America rate, and then there's a cost to that, and if that cost goes down, then the cost for the end user, the homeowner, goes down as well. But there's other factors. So when the Feds lower the rate, that's only one part, to lower the mortgage rate. There's also economic data, jobs reports. There's also forward thinking of what does the future look like? Is it uncertain? So in a nutshell, when we look at, you know, behind us, we saw nothing. But rate increases due to covid and due to monetary spending, and we saw the Feds raise the rate nine times in 23 and we saw rates go up to eight, nine, 10% at one point. It was really crazy. But then we look at 2024 and the Feds lowered the rates twice, and we look at 2025 right now. The feds lowered the rates one time, and they're looking to lower the rates another two times, potentially by the end of the year. So when we look at the next 36 months, we see nothing but rate reductions. So are we going to see rates in the twos and threes? Again, most likely not. But will we see rates in the fours? Absolutely. So what you don't want to do is to be the 5.5 million people on the sidelines waiting for rates to hit the fives because they're jumping up. Because guess what? That's what's going on right now. Rates are in the fives for VA, for FHA, or sometimes, if you buy it down for conventional so for all the listeners right now, if you're thinking of buying within the next five years, so that way you are getting educated and off the sidelines, because we see nothing but rate reductions over the next 36 months. And it's not a question of if they're going to lower the rates, it's when they're going to lower the rate. So that tells you you need to get off the sidelines and start, start operating.

Monique Buchanan 11:17
Sounds good. So yeah. So let's, let's break this down into the meat and potatoes of it. Let's talk to somebody out there that has been on the sidelines because they have no money down right now. How does what are some options? I know what they are, but let's, let's talk about those down payment assistance

Becky Coins 11:35
from the Magic Man. There we go. Yeah.

Anthony Valentino 11:38
I mean, the biggest misconception is you need money to buy a house, when that is the complete opposite of the definition of leveraging. And as we know, income equals debt and debt equals income. So the more income you make, the more debt you create through taxes, whereas the more debt positions you create, the more income you can keep for yourself, because it's tax shelters. So in the same thing with mortgages, you there are first time home buyer and existing home buyer programs with zero down. Let me repeat that, nothing down. Now this is not a VA or you're putting nothing down, but you're getting a subsidy, whether it's through a state, federal or third party sub to it to where they're giving you money, and you can use that as a down payment. So for instance, a lot of people say, well, Anthony, I make more than the medium household income of 70,000 combined. I don't fit the bucket of first time home buyer, where you have to have a certain income. Well, the thing is, is, yes, there are down payment, 100% covered down payment for people who make under the medium income. But if you are the few that make more, you still have options. So whether you're the single mom that makes under 50,000 a year, you have options for down payment assistance, or whether you're the family making 100,000 a year, you still have options. Yes.

Becky Coins 13:08
So I want to ask you, too, Anthony, so going back to our vas. So with your VA benefit, there's a lot of myths that are going on with there, and you're helping my son right now, currently with his loan, and he had a lot of myths that he had to ask you about. So one of them, I wanted to ask for all of our listeners, so they can hear it from the horse's mouth, can you use your benefit more than one time

Anthony Valentino 13:33
you absolutely can. It's called entitlement, and so there's two ways that you can use entitlement, or dual entitlement, if you are active military and you get orders to go to a different state and you currently own a house, then you can still use your VA entitlement. So you can have two VAs in different parts of the of the United States and still take advantage of it, because you have orders to be pushed somewhere else. Now the same is if you buy a house with VA and then you want to buy another house later on, nothing is stopping you from refinancing that VA into a conventional vacating that entitlement and being able to buy again with nothing down another house. So you just have to get creative, and you have to think ahead. Are you going to want to buy a house within the next five years again? If so, let's strategize to where you can purchase houses with nothing down as your primary residence, and leverage the current house that you have, and we can utilize other loan options so you can get the best benefit from it.

Becky Coins 14:37
And what about spouses of fallen soldiers? Because I know a lot of them don't realize that just because they unfortunately lost their spouse, sometimes they think they lose that benefit 100%

Anthony Valentino 14:49
and then so that surviving spouse benefit. So many people come and go and more of the older generation, I'll talk to older generations, and you know, they'll be looking to buy a town home. Because their loved one passed away. And then I asked them, well, wait a minute, were they a veteran? And they're like, yes. I'm like, Well, why don't you just do the surviving spouse veterans benefits worth nothing down they have no idea, because it's not easy, accessible this information. That's why it's really important to talk to a lender that looks at the full picture, so that way we're not leaving any low hanging fruit for that client.

Monique Buchanan 15:23
Yes. And then they can also use their 401 K for down payment. I think a lot of people forget if they have a 401 K, some stocks or anything like that, they can utilize those funds right for their down payment.

Anthony Valentino 15:37
Oh yeah. And not only that, you can use 401 K, Bank of the mom, Bank of the dad, Bank of the brother. Like you can like this is what I love about my job is, is showing people that the impossible is possible. And when I have a conversation with people, and they see that, wait a minute, I could buy a $300,000 house and it's less than 10,000 down, and I have 3000 myself. I got 2000 my 401, K and I'm only about 4000 short, and I can get gifts from seven people to cover that when I strategize and show them away, even if they can't do that, the worst case is, let's do down payment assistance. Let's have a higher rate with, you know, $100 higher in payment. But that's better than doing 100% rent, where you're not building generational wealth, so it's just having that conversation, starting that out to see what's going to be the best option for you. But the best option is definitely not renting, and it's buying, whether it's down payment assistance, first time home buyer or bank of mom and dad, there's definitely an option out there.

Monique Buchanan 16:37
Yeah. You know what I like to always remind people listen at the end of the day, renting is not the way, because, you know, you're making zero it's 100% interest rate. I rented at what? What was it? 13 or $1,500 a month for five years, I paid, I paid that man's house off $90,000 but I didn't realize that. I didn't realize that nobody put that in my face and said, Listen, you're gonna rent here. Sure, it feels safe, it feels comfortable, but it really isn't. It's a facade, because you can be put out within five days. Here in the state of Nevada, your rent can go up as much as your landlord pleases, because there's no rent cap. Here in the state of Nevada, you can be served a hey, you got to go in 30 days after your lease is up. I had that Hello, and so did my best friend, Alicia. She was on on on birthday trip in Costa Rica, rented from a friend for five years on time. Thought she was safe because she knew the guy. Yep, the man's gonna make the decision for his household that's best for him. So guess what? She called me frantic. Got a 30 day move out because he decided to sell the property. Guys five years I paid $90,000 the man bought the house for $100,000 I paid that man's house off. He made equity he could turn around and sell it for 300,000 and I walked away with a 25

Becky Coins 18:00
I was gonna say, did you get your

Monique Buchanan 18:02
deposit? He was a sweetheart. He was nice. He did give me my deposit. But here's the point, why walk away with $2,500 as a renter with false security of feeling safe when you're not because you could be put out in five days. If you're a homeowner, there are months of them trying to help you stay on that property. You go ahead and tell them, hey, you know what I mean. It's a complete game changer. From being a renter to a owner. You can do whatever you want. My favorite, Mo, what is it?

Anthony Valentino 18:31
My favorite is this, when, when I see it all the time on my you know, because I have a podcast, the mortgage one on one podcast,

Monique Buchanan 18:38
check that out. You guys. The mortgage 101, podcast, shots out,

Anthony Valentino 18:44
yeah, yeah. But basically, all things mortgages to really understand how they work on a practical level. But we get this all the time of people saying it's so much cheaper to rent right now, and we're going to see house prices just fall completely and why would you, why would you, you know, have a 300 or 400 or $500 higher mortgage payment? And I'll answer that for everyone who's listening to this, when you look at a house, I want you to think of four pillars of economics. It's not just one dimensional so when you own a house, every time you make that mortgage payment, there's paid down equity. You're paying down that house, and it goes back in your pocket until it's no more. That's the first pillar. The second pillar is the appreciation. There's only been four times since 1936 that houses actually went down, and it was very small, only four years out of the 100 years almost that we've been seeing it. So the chances of houses going down and not coming back up are very small. And we can do another episode of why we think houses are going to stay high with inventory with historically high rates, but at the end of the day, average, you're looking at three to 5% not the nine to 10% we've been seeing about three to 5% in appreciation. That's the second that's. Second one. The third one is the tax incentives. When you're a homeowner, you can write off the interest, write off the insurance, write off the taxes, write off the maintenance. So now, if you're w2 or self employed, you're getting more of your money back at tax season that most people don't even realize. And then the fourth one is that is that cash flow, this eventually will be a rental for you that will cash flow and give you generational wealth that you can leverage that debt to buy more for your portfolio. So when people tell me renting is better, you're getting 100% of nothing nothing, I rather you get 90% of something than 100% of nothing as a renter.

Monique Buchanan 20:37
And if you're just tuning in, this is Monique Buchanan the Welcome Home Show. We have my team, lender, Mr. Valentino, along with Miss Becky. And if you're interested, or just maybe you missed something, you need more clarity on something, or you want to talk to Mr. Valentino, 7029843700702984,

Monique Buchanan 20:57
3700, my website is welcome home with monique.com Instagram, is realtor, Monique Buchanan, B, U, C, H, A n, a n. Now, Becky, you brought up a good

Becky Coins 21:08
point. What was your Well, back in the day, I remember when I was by myself, and I was single, and I was a single mom, and you start thinking about homeownership, and I was like, I don't make that much money. Yeah, by myself. I'm a little nervous, like I'm barely making my rent, I'm doing my thing. But you kind of have that concept of, if you're going to be able to buy a house and you need somebody, it's got to be a spouse, it's got to be a partner, or it's just one of us, right? You know, I just one more. I've seen we've done loans for three people, six family

Monique Buchanan 21:37
members, and they don't have to be family members, boyfriends, girlfriends, friends of friends. How many people can be on one loan? Anthony, that's a great point to buy a home together, limited, maybe get an AUD

Anthony Valentino 21:49
limited. This is what we call house hacking for my gen Z's out there, my gen Z's know what I'm talking about when I say house hacking. House hacking is when you have multiple people go into a house. So rather than, if I see a lot, I'm helping a lot of college students. Rather than renting a dorm or renting a town home, they're so savvy that one of them will buy a house and then rent the rooms out to cover the mortgage, and now they live free, while other people pay for an asset that is materializing. That's house hacking. You can do that as well. If you're not a college student, you can get Mom, Dad, brother, sister and uncle to be a co signer, whether they're not occupying or not. And you know, there's a lot of these houses that have mother suites or have generational living to where you can rent that out to offset the cost. This is what you need to do in this day and age, in order to be a homeowner and not just have an excuse of why you're not being a homeowner.

Monique Buchanan 22:48
Sweet like candy. So let's let me jump in real quick and just give you a quick another shout out, Anthony, because for all that don't know, I am humbled and very grateful and thankful to say that I've just bought another investment property with none other than Mr. Valentino. And you guys have heard me talk about this program. Basically, you have to have at least. What is it, Anthony, what's the minimum credit score for what I used? 646 40 credit score, you have to have at least. Okay, a 640 credit score you have to, you don't show any of your documents, you guys. So if you're out there, you already own your own home and you want to build your portfolio, or maybe, you know, I don't know, something's going on, where you got you owe taxes. For instance, you owe taxes, but you're like, Well, I can't buy right now because I owe the IRS. Yes, you can. There is a way that you can buy 640 credit score the home must, or the property must be able to basically pay for itself. So let me just give you my example. I bought a town home. I paid $175,000 for this town home. My mortgage is about $1,500 with the $170 Hoa, now Anthony says, Monique, you got to show me that you can rent this out for more than that $1,500 that's no problem, right? I look it up, I see that one just rent it for $2,000 I send that to him. I've got the credit. I've got the 20% down. That's the other part that you must have. So I put $38,000 down on the property, okay? And now I own the property. We closed on it, what two weeks ago?

Anthony Valentino 24:23
Anthony, yeah, so this program is exactly what you said. Mo, it's based off of the income that the assets producing, not the buyer. So no income, no taxes, no documents. Other than putting 25% down, that is all we're needing. Once you put 25% down, and as long as the rent. And we do a rent schedule, so we order an appraisal, and then the appraisal will say, hey, you know, the average rent in this area is 2000 a month, and if your payment is 1500 that's cash flow. You're approved, and it's done,

Monique Buchanan 24:58
right. And I'm so grateful, because. So my cash flow on this particular property, KU, MV family, is going to be about $600 a month. You guys, I was able to get funds from the seller okay to pay my entire closing cost. So you know what? I paid, just the down payment. And that's it. And there what is it? Is it unlimited? How many properties I can build my portfolio with this program, Anthony, I can buy as many as I want, as long as I have the 20% that's right. So if I was somebody that had $200,000 saved up somewhere, sitting that's barely making 1% with the bank, they can sit there say, hey, I want an investment property. We do our magic. Find an investment property that's going to, you know, make them some money every month versus the point 001, you're getting from the bank. Why it's sitting there? By the way, guys, I cashed out my stock. I cashed out my stock from my brokerage. So I didn't even touch my own savings. Because, you know why I did that. I know I'll make more money on my real estate investment than what my stock would make me every

Becky Coins 26:03
year. So wait a minute, I'm a business owner, and I haven't gotten my taxes taken care of yet. I'm a little bit behind on my paperwork. So Anthony, I can do this

Anthony Valentino 26:15
100% because we do not base the income off of the person, aka tax returns, bank statements, pay stubs. We base it off of the asset. So as long as the asset is income generating, that's all we use.

Monique Buchanan 26:28
So you guys can buy as many as you want. I plan on buying five a year, if God allows, if the Lord says the same, okay, but that's what my goal is, to buy five a year. This is my first time buying it this route. It was so easy. Anthony, it was so simple. I didn't have to bother digging up W twos and tax returns. And, you know, did you get that? Let me upload this. It was so simple. It was amazingly simple. So I am a witness to this, you guys. It was my first time using this program. I plan on using it many a times more, because I don't know about you guys, but I'm not getting any younger. Becky, are you getting any younger? No, ma'am, and I'm right behind you, honey. I need some money coming in, besides my husband's Retirement and Pension, right?

Anthony Valentino 27:10
Anthony, that's right. It's all about passive income, generational wealth. You know, making money while you sleep. You know, not working for your money, but your money working for you, that's what it's all about.

Monique Buchanan 27:23
Okay, so we're gonna go ahead and wrap this up real quick. I just want to say that, listen, I'm gonna go ahead and put this one on Section Eight. There is a dire need for people like yourselves that are hearing this, that have a little money, are able to invest, you know, have that 640 credit score, because there's guaranteed rental. They guarantee their rent to be paid, even during covid. Section Eight was paying. So that's the route I'm taking, right? You don't have to take that route, but that's the route I'm taking. So just to recap quickly, because we're down to one minute. I mean, I wish we had more time. Anthony knocked it out the park. We've got the down payment assistant programs. You only need a 620, credit score, as long as you have worked for any job, any job at all, for the last two years, we can get you zero down. And right now, because the market is a buyer's market here in the Las Vegas Valley, we will be able to get those closing costs, if not in the in its entirety, the majority of them paid for you in the last 10 years. I haven't seen it, so if you're interested in purchasing a home, you're tired of just talking about it. And 7029 80 430-700-7029, 84 3700 me and my team are here to assist. We are we are in this to win it. We're in it to help our clients, our listeners, we thank you for all of your referrals. Anthony, you want to wrap it up. Let's go ahead and say goodbye, but what's the last takeaway? You want to let folks know?

Anthony Valentino 28:45
The last takeaway is, if you have a pulse and you want to have generational wealth, and you do not want to make other people rich and put their kids through college and let them go to Santorini and other vacations at your expense, and your expenses from fear of the unknown, they can guide you with making the right decision, decisions out of confidence and not out of

Monique Buchanan 29:08
fear. And that's what my team is here for. You guys. We explain things. We want you to be in the know. We care about you knowing what's going on. So if you have questions, once again, 702984, 3700, want to say goodbye everybody. Thank you, Anthony for coming on. Thanks, Mo as always, yes, and our team is here to assist, Anthony. You have a great one. Everybody out there in KU and V land. Love y'all and until we hear from you, 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. Two.

Transcribed by https://otter.ai