Tom King, ourappraisal expert will be sharing his view of the market we will beentering in 2020 and how to line up your real estate play to win.

Whatdo YOU want to accomplish with YOUR mortgage? Let’s stayconnected! Subscribe for weekly Real Estate Mortgage Shoppe podcastswith show notes at www.TNRDHomeLoans.com Call me directly at (615) 924-6215 or email at This email address is being protected from spambots. You need JavaScript enabled to view it.

ToYour Success,

McKenzie Mortgage RD Loans, Mortgage Loan Officer NMLS# 757308

_______________________________________________________________________________

Good morning,Memphis! Welcome to our internet listeners and podcast listenersacross the 50 states! You’re on Real Estate Mortgage Shoppe. I’myour host, McKenzie Mortgage RD Loans, Mortgage Loan Officer. You can connect with meat www.TNRDHomeLoans.com. Ourgeneral topic is MAKING SMART PLAYS WITH YOURREAL ESTATE & FINANCING GAME PLAN. Thankyou to real estate attorneys Rob Draughon and Shelley Rothman ofGriffin, Clift, Everton and Maschmeyer Law Firm for sponsoring thisepisode of Real Estate Mortgage Shoppe. For your home purchase orrefinance, contact Rob and Shelley at (901) 752-1133. Subscribeto get Real Estate Mortgage Shoppe podcasts with show notes atwww.TNRDHomeLoans.com (pre-recordedthis 12-28-19 show )

INTRODUCING TOM KING OF BILL KING APPRAISAL SERVICE

TomKing is back in the Real Estate Mortgage Shoppe studio after jugglinghis many talents as a real estate appraiser AND his talent at runningthe lights for the big Bellevue Baptist Singing Christmas Treeproduction. Take a moment, Tom, and tell our new listeners a littlebit about yourself and the services you offer your appraisalcustomers. (Tom introduces himself and talksabout the services he offers his customers )

(Jo)We are talking about making smart plays witha winning real estate and financing game plan. It reminds me ofsomething Coach Mike Norvell said about College GameDay here inMemphis last month. Coach Norvell shared some of his philosophiesand strategies about winning. He shared a quote the heheard a few years ago that struck him like a lightening bolt “Areyour habits for today on par with your dreams for the future?”

CoachNorvelle had his players each bring a picture to put on their lockers that represented the reason they play to win. Not just to play inthe NFL but a picture that represented the underlyingreason the WHY factor that gives purpose to why they want to be thebest version of themselves. He said, “You have to have a bigenough WHY to push through the obstacles to get you to your goal.”The same principle works in life. Determine your underlying reasonor Why that motivates you to be the best version of yourself.

MikeNorvell went on to talk about his football coaching philosophy. Hesaid, “Evaluation is the key to success in football. Evaluate yourplayers, coaches and current team. Focus on your strengths. Assesswhat your needs are. What fits in your system like speed,versatility.” “Prepare and put yourself in the best position. Control what you can control.”

AsI listened to Coach Norvell talk, it got me thinking that this samewinning philosophy works in life. If you want to live in a biggerhouse, travel the world, enjoy financial independence with passiveincome from real estate rental property, you have to evaluate whereyou are, where you want to go and what it is going to take to get youthere.

Takea page from Coach Mike Norvell’s play book and post a picture thatyou will see everyday that reminds you of the reason WHY it is worthit to you to pay the price to get from where you are to live the lifeyou want to live. Who or what motivates you to push out past yourcomfort zones to be the very best version of yourself.

One of Coach Norvell’s winning philosophies is toevaluate your strengths and play to those strengths. So, what ifyou are weak in a certain area, you can work on improving, but in themeantime, delegate, regulate or eliminate the tasks that you cannotdo well yourself.

Ifbuying a home or restructuring your financing is on your bucket listof tasks to accomplish to get you closer to your goal, let’s talk. You are the star quarterback running the plays. Let me be one ofthe coaches on the sideline giving you the inside information youneed when it comes to funding those dreams. Make Your Plan, Let’sWork Your Plan. If the deal works for you today, let’s do it today. Connect with me at www.TNRDHomeLoans.comor just call me at (615) 924-6215.

Tom,as an appraiser, you have had a great bird’s eye view of our realestate market here in the Mid-South. How would you evaluate our local real estate market? Ifyou put your coaches hat on, what are some inside tips you would givesomeone who wants to sell a home right now? What are some insidetips you would give someone buying a home in this market? (Tom launches intothese topics)

You’reon Real Estate Mortgage Shoppe. I’m your host, McKenzie Mortgage RD Loans, MortgageLoan Officer. What do YOU want to accomplish with your mortgage?Make your plan. Let’s work your plan if the deal works for youtoday, let’s do it today. When we come back Tom King will begiving some more appraisal tips on what to do if your appraisal valuecomes back too low and more. See you back in just a moment.

^2ndsegment after 9:15 advertising break – (producer to start the song“Taking Care of Business” by Bachman Turner Overdrive –butbring the volume down before the lyrics start) It’s time to talkshop with Talk Shoppe’s Business Tip For Real EstateProfessionals. Talk Shoppe is a marketing company offering freeeducation and networking to anyone interested in real estate or inbusiness. Talk Shoppe is made possible by the financial support ofits sponsors and advertisers. For more about Talk Shoppe, go towww.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Talk Shoppe Kaizenaward-winning business coach, Eric Eurich of Focal Point BusinessCoaching. Eric Eurich, what is our Talk Shoppe Business Tip for RealEstate Professionals today? Eric Eurich shares his tip.

QUESTIONSTO ASK ERIC EURICH OF FOCAL POINT BUSINESS COACHING:

1. Eric: For the business owners and sales people out in our audience, what is the best way to contact you? (901) 340-9558

___________________________________________________________

TOPICSCOVERED BY TOM KING, BILL KING APPRAISAL SERVICE

1. Tips to home sellers in the market we will be entering in 2020
2. Tips to home buyers in the market we will be entering in 2020
3. How to handle a low appraisal value
4. How to handle repairs –avoiding the cost of a final inspection and avoiding the hassle of having to renegotiate terms on a contract after the home inspection is done

__________________________________________________________

TOPICS COVERED BY JO GARNER, MORTGAGE LOAN OFFICER

As a loanofficer, I sometimes feel like a coach who surveys what is going onout on the field and informs my customer, who is my star quarterback,on some moves that could counter any opposition. Here are some ofthose tips:

1. Evaluate your budget to determine the maximum comfortable house payment.
2. Evaluate what is the maximum you can spend and still keep a more than adequate emergency fund.
3. Using Other People’s Money OPM to keep more money in your emergency fund.

-FannieMae’s new and improved Home Ready 3% down loan program can savehomebuyers thousands of dollars cutting the amount of privatemortgage insurance required. On a sales price of around $160,000,the Home Ready program can save a home buyer over $20,000 over thelife of the loan by reducing the amount of lender required mortgageinsurance that only helps the lender. The Home Ready, unlike somespecial programs,does not require the buyer to be a first-timehomebuyer. There are income restrictions on the borrower for most zipcodes but, on the other hand, the Home Ready program allows a numberof allowances for boarder income and non-occupying borrowers that canbe difficult to get on other low-down payment programs. Home Readyprograms adds another little bonus—they allow the borrower to tackon and use a down payment assistance program to help with the 3%down. https://www.fanniemae.com/content/fact_sheet/homeready-overview.pdf

-TennesseeHousing Development Agency is a state program used on propertieslocated in the state of Tennessee. The interest rate offered on thisprogram is usually lower than the going rate or for a little higherrate, the borrower can get down payment assistance for up to 5% ofthe price of the house to cover the down payment and some of thecosts not paid by the seller, allowing the buyer to get into his newhouse for nothing down or close to it. There are restrictions forincome on this loan in most cases with some exceptions. For moreabout THDA go to www.THDA.ORG orcall me personally after the show and we can do some comparisons foryour situation. (615) 924-6215.

-Cityof Memphis or Shelby County Down Payment Assistance program. Thisprogram also has some first-time homebuyer requirements which meansnot owning a home within the last 3 years. These down paymentassistance programs offer funds for the home buyer to use to put downat the table, and with the seller helping the buyer with some costs,the buyer can get into this program many times for just the minimumof $500.

-USDARural Housing 100% loan. This program restricts the property toareas not as heavily populated as the higher densities in the cities. There is an income restriction on this program and if the sellerpays the closing costs and prepaid taxes and insurance for the buyer,then the buyer can sometimes get into the home with zero down or verylittle down.

-TheVeteran Administration loan offers eligible military veterans achance to buy a home with zero down if the seller pays for thebuyer’s closing costs and prepaid taxes and insurance.

Thereare other programs available beside these just mentioned. If you wantto know more, Google “Down Payment Assistance” and the name ofYOUR state and you should hit the jack pot. Many metropolitan citieshave their own down payment assistance programs with certainrestrictions. Memphis has the City of Memphis Down PaymentAssistance Program and in addition to the regular program, they havesome funds especially for Police, Firefighters and Teachers. Butask an experienced, reputable realtor in your area what programs THEYrecommend. They usually know what programs are good and which onesmay be not so advantageous. You can also check with Rob Chrane atDown Payment Resource, supported by Housing Finance Agencies acrossthe country, for assistance programs in YOUR city and state.http://downpaymentresource.com/about/leadership/

–Owneroccupied homes only require zero to 5% down payment. Investmentproperties require at least 20% down.

-Substitutionof collateral

-Borrowingagainst your 401K

-Usingan Equity Asset line of credit secured on tradeable stocks that arenot qualified retirement funds

-Cashout refinances on other homes you own other than the rental house youare trying to buy

-Cashvalue in a life insurance policy

-Finda real estate investing partner with cash.

3. Create Multiple Exit Strategies When You Buy A House

Brent and Bella Beaumont’sstory-MULTIPLE EXIT STRATEGIES

Brent and Bella had beenrenting an apartment in an neighborhood that seemed to be attractingmore crime. When they first got married and moved into the apartmentthe rent was less than $900/month but now it was over $1,000 permonth. When Brent and Bella got the news they were going to havetheir first baby, the apartment, they realized was too small fortheir growing family. The payment was too large.

How were they going to find abigger homewith a smallerpayment? They wanted to be in a good area where their children couldgo to the same schools that Bella attended growing up The otherchallenge was they had very little in savings to put down on a house.

The decision to rent vs buy?Brent and Bella didn’t think they had a choice. But, they talkedwith a realtor who explained to them that, right now, in the Memphisarea, they really could find a bigger home in an area where theywanted their children to grow up with a smaller payment and for lessthan $1,000 down payment.

The realtor showed Brent andBella several homes and they made several offers. Finally, the selleron a nice 3 bedroom home accepted their offer and even agreed to paythe Beaumont’s closing costs. Their realtor pointed out twoadvantages of buying the home they were purchasing. As their loanofficer, I pointed out two more advantages that would give theBeaumont’s, not one, but multiple exit strategies so they wouldnever have to feel stuck.

The first advantage, therealtor pointed out, was that in the neighborhood where Brent andBella had decided to buy, home values had traditionally increased invalue over time. That meant that 3 to 5 years down the road, theycould probably sell the home and buy another home if the need aroseto move.

The second advantage, therealtor pointed out after she researched the area, was that theproperty the Beaumont’s were purchasing was located in a strongrising rental market. If the trend of rising rent rates remainedsteady, the Beaumont’s would also have a choice of buying a newhome later on and using this property for income-producing rentalincome -just in case the home selling market was tougher a few yearsdown the road when and if the Beaumont’s decided to move to adifferent home.

The third advantage, as theirmortgage officer I got to point out to them, was that the mortgageprogram they were using was a government FHA assumable loan. Thatmeant, if the Beaumonts could not sell their home outright in afuture market and they did not want to use the property as anincome-producing rental, they could allow someone to qualify withtheir mortgage company to take over payments or assume their mortgageinstead of the future buyers having to get a new loan. If mortgagerates were much higher in the future when the Beaumont’s decided tosell, they buyers might even pay the Beaumont’s more upfront forequity to have the privilege of qualifying and taking over theexisting much lower interest rate mortgage.

The Beaumont’s had threepossible positive exit strategies on buying their first home. Theycould enjoy that peaceful feeling of being free and not stuck. Theygot some down payment assistance from the city of Memphis and somegift money from parents too and bought their home with about $500down. They moved into a much larger home than the former crampedapartment with a fixed interest rate payment a couple of hundreddollars less per month than what they had been paying rent. A verySWEET deal for the Beaumont’s and their sweet little one on theway.

1. Story about the couple expecting their first child that could not afford to pay the full price for the home they desperately wanted. Their strategy to get the strongest prequalification letter possible. And a picture of themselves holding a blue baby onsie between them with a letter below letting the sellers know how much they loved the house that they could see their child one day playing in the back yard where the sellers children had played many years before….

REALESTATE TIP OF THE WEEK (Eric Eurich shares a real estate relatedmoney-saving or time-saving tip):

ANNOUNCEMENTS:

Talk Shoppe offers freenetworking & education to anyone interested in real estate,business or health and wellness. Talk Shoppe meets every Wednesday9-10AM Check the website for event locations at www.TalkShoppe.com Come equip, engage and empower your business with us.

1. The Tigers are playing today in the Cotton Bowl Go Memphis Tigers GO!!
2. We wish all of our listeners a happy and prosperous 2020. Happy New Year !

4. Subscribe atwww.TNRDHomeLoans.com and you canget our weekly blog posts with podcasts conveniently in your inbox.

5. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’SWORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

SPECIAL NOTE: REALESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL,LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING ORINVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOWOR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGESHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSESONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATEMORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT WE USE FICTIONALCHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILSIN ANY OF THE SITUATIONS.

QUOTE CORNER:

Mike Norvell, on hiscoaching philosophy “Are your habits today on par with your dreamsfor the future?”

____________________________________________________________________________________

REJOINDERS:

1. Pat Goldstein, Realtor with Crye-Leike in West TN and North Mississippi (901) 606-2000 The “Gold Standard” in real estate
2. Rob Draughon and Shelley Rothman of Griffin Clift Everton and Maschmeyer Law Firm (901) 752-1133
3. Mark McLaurine, Refrigeration Unlimited HVAC repair strategist www.myhvacman.com

_________________________________________________________________________

Transitional Music: “Playto Win” by Al Green; “I’m Winning” Santana; “Memphis Tiger Fight Song;”

“Taking Care of Business”by BTO for the Talk Shoppe Business Tip For Real Estate Pros

________________________________________________________________________

ABOUT TOM KING, APPRAISER WITH BILL KING COMPANY

(901) 487-6989

Tomis a well- respected and sought after appraiser in Memphis,Tennessee. He is a second generation appraiser with 40years experience. He has been elected to the Memphis AreaAssociation of Realtors Board of Directors three times.

Tomis acertified residential appraiser in Tennessee. He have appraisedover 20,000 homes in his career. A graduate from the Universityof Tennessee with a degree in real estate, Tom is also a CertifiedRelocation Professional (CRP). Tom also has vast experience indealing with the countyand state boards of equalization and in valuations of property fortax appeal purposes. (901) 487-6989

_______________________________________________________

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOUWANT TO ACCOMPLISH WITH YOUR MORTGAGE?

www.TNRDHomeLoans.com (901) 482 0354 This email address is being protected from spambots. You need JavaScript enabled to view it. twitter @jogarner NMLS# 757308

“WhateverYOUR personal priorities are, my job is to help you get the mortgageterms that will give you bragging rights when you talk about it andhelp you score on hitting your goals .”

Asa mortgage loan officer, my job is to help you get to the benefitsyou want from your financing terms. What is most important to you? Ican help you find the financing terms that will help you get to whatyou want. What is your comfort level on a house payment? How muchare you comfortable paying down,? What type of financing do you needto get the house you want to buy or refinance?

Differentclients have different priorities in life—some are buying theirfirst home with very little down payment funds. Some are recoveringfrom medical challenges, divorces or preparing to send children tocollege and some are embarking on a long term goal of buyingproperties to build rental income.”

TNRDHomeLoans is a mortgage officer with extensive knowledge in tailoringmortgages to her customers who are refinancing or purchasing homesall over the country. She offers conventional, FHA, VA or other loanprograms for refinancing and purchases.

Jocan help you look at rent vs buy, when it makes sense to refinance,how to get the best deal on your home purchase financing.

TNRDHomeLoans has been in the real estate/financing business for over 25years. She got her start in Portland, Maine where she firstbegan her real estate career. She received her real estate educationfrom the University of Southern Maine and was personallymentored in San Diego, California by Robert G. Allen, author ofNothing Down,Creating Wealthand The Challenge.

Onmoving back to West Tennessee in 1987, she went into business buyingand selling discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a residential mortgage company and hasbeen a mortgage loan officer for over 25 years. Her goal is tooffer excellent, affordable service to her customers, tailoring theloan programs to the specific needs of her clients.

In addition to her work in the mortgagefield, McKenzie Mortgage RD Loans is the primary sponsor and founderof Talk Shoppe in Memphis. www.TalkShoppe.com McKenzie Mortgage RD Loans also host the radio show Real Estate Mortgage Shoppeairing on News Radio AM 600 WREC and iHeart Radio with podcasts andshow notes published on www.TNRDHomeLoans.com