The #DailyReal Estate Show Episode #335 - #339

Turner Real Estate Group

Hey, it's Wayne Turner. Hope you're having a good day. You are watching the Daily Real Estate Show.

Hey I'm Wayne Turner. I'm the broker on [inaudible 00:00:08] Real Estate Group.

You might want your front door to look like this.

If you want to buy a house, just ask yourself these three questions.

We purchase these houses for literally $500 out of pocket.

For more than 21 years, I have specialized in the sale of homes.

Beautiful day. We're gonna list a house.

Here's something to think about. We had a friend of ours, who's actually ... A co-worker, Leanne, who works with us. And I'm gonna tell you a quick little story about her purchase of her first house. She came to us and said, "Hey. I wanna buy a house. I wanna buy my first house." And this was five years ago. And I always tell people, "You make your money when you buy."

Leanne purchased a house. She came us to and said, "Hey. I wanna buy a home." So she purchased her first home for $67,000 and I just put ... I wrote some notes down here. She purchased her first home of $67,000. Three bedroom, two bath, one car garage. That was five years ago. The house was not a foreclosure. It was not a bank owned home. If you wanna see those foreclosures, bank owned home, you can go to a website that we have that we provide. I'll have it pop up right here. Nolabankowned.com. Nolabankowned.com. We give you a free list of website. I'll also post a link here at the bottom of this video.

So, another one you can go to is affordableslidellhomes. Affordableslidellhomes. We can put the link. We'll have it pop up right here on the screen. We'll put the link down below. You can click on it.

So, continue watching though. $67,000, she purchased the house. That was five years ago. Today, today that house is work 110. So, that's $53,000. Now if you look at 67 and 110, like technically if you wanna get really deep into the math and look at a percentage of increase and value, that's a 64% increase in value of her home over five years. So it's like, "Oh wow. That's great. That's a lot of money. How do you get that out?" Well you get that out, of course, by selling it or refine and pulling equity out of the house. Don't do that. That's a nightmare. Don't touch your equity in your house. It is a forced savings account. Don't touch it. Sure, if you refi, but don't pull money out.

And if you pull money out and if you're gonna make improvements, please call me at 985-626-1313 and I'll tell you what to do and what not to do. Floorings and paint and kitchens and bath, you can't go wrong, but don't get crazy with it.

So, the $43,000, this is way I broke down the math. The 43,000 ... And $43,000, divide by 5 is $8,600 a year. So her house has made her $8,600 a year. So at 8,000 ... And nobody can take it away from her. It's hers. She pays the mortgage. It's her home and house is in her name. That's great.

$8,600 a year, so how mch is that per month because that's what your house is paying you. You're paying monthly payments, but your house, if you're increasing equity, it's paying you that $8,600 per month. There's 12 months in a year. So if you take that 8,600, divide it by 12. I already wrote it down. $716 a month, your house is paying you. I don't know if her mortgage payment isn't even that. And even with like flood insurance and everything.

So here's the thing, here's what I tell people. You can go rent an apartment, sure. That's great. Fine. I always tell people, "Look. Man, you're in your 20s. Live it up. Enjoy your life. I'm 45. At 30, you're still young as hell. So, enjoy your 20s, but if you do decide to purchase a house, we can ... Of course, we can help you here. It's what we do." We broker the sale of real estate, but most importantly, we wanna make sure you that you can purchase it right, you make your money when you buy, and then when you gotta sell it. You're happy because you actually have the money.

Like people come to me and go, "Wayne, how do these people live in such a big house. They live in a 350,000 or more house." Well, a lot of people have moved up over the years. And so they've roll that equity. In other words, what they purchased the house for and what it's worth today, if it's 20, 30, $40,000, then they roll that money into their next house. If you put 20% down on a property then you basically can avoid the private mortgage insurance.

And of course, private mortgage insurance ... Give you a quick lesson on that. Private mortgage insurance is the mortgage insurance the mortgage company takes out on your mortgage in case you stop paying. If you default on the mortgage, the mortgage insurance is on that house and that mortgage insurance will pay them out if you foreclose. And you pay the monthly premium. So that's private mortgage insurance or it's also called MIP, which is mortgage insurance premium. The mortgage insurance premium is actually what you pay per month. The private mortgage insurance is the actual policy out on the property. I know. I don't mean to get real technical, but that's the definition of private mortgage insurance or mortgage insurance premium.

Anyway. Hope this information helps you. Once again, you make your money when you buy. So, if you're buying homes in Slidell, Louisiana or Mandeville, Louisiana or, you know, you're looking for real estate, homes for sale in the Mandeville, homes for sale in Covington, Louisiana ... Regardless, what you'll wanna do is check out ... There's lots of sites out there.

One thing that we do is we actual pull from the MLS local realtors database. That means that, when collectively as real estate agents, list properties, regardless of their company, whether it be Caldwell Banker or Remax, Century 21, Latter & Blum, Turner Real Estate Group, Keller Williams, it doesn't matter. When we list a house, they all come within this funnel and that funnel goes to the database and that's the local realtor database. That's the MLS.

And our local realtor database, we're able to ... And I have the ability to take and push that into one site and ... So if you go to wayneturner.com you can see all the homes there listed by subdivision and new homes and I break it down from there. Because collectively, there's about 14,000 homes listed in the New Orleans metropolitan area, but we break it down into not only by parish, but not only from parish but if you wanna see homes with land, you can go to landinnola.com. If you wanna see foreclosures, you can go to nolabankowned.com.

So what we do is we make it real simple for you to extract those specific houses. It doesn't matter if it's homes on the water, homes with pools, we make it real easy for you. And what's really cool is that site, those sites, all these sites that we have, they update every hour on the hour. So they refresh. Usually, it's within about 15 minutes. So if somebody drops a price of a house, they make any kind of change in the property whatsoever, it's constantly refreshing. Somebody lists a new house, that's constantly refreshing.

We just started this little show. I hope you like it. It's called A Daily Real Estate Show. I call it The Daily Real just because it's kind of real. We're rolling. We're doing the podcast. We've got the vlog. We're doing the videos for YouTube and we're posting a lot on Facebook and that sort of thing. We know that, basically, social media's the foundation for the way that we all are communicating.

So, hope you find this information helpful. It's just a little something I want over the years, decades now, selling real estate. Have so much information on it, just wanna be able to share it with people and share it with you. That if you're watching or you can share it with someone.

I'm here to share with you what I've learned because there's a lot of information out there and it's hard to find the correct information. So I wanna be that local, go-to person if you have any questions. You can even text us if you want. You can text us 985-218-0741. 985-218-0741. If you send us a text, there's multiple people here on my staff that are answering a text. So it's gonna be me or multiple of us if you have a question.

Hope you're having a day. Just remember, 43,000 in the five, 716 a month and in addition to that, you have the tax benefit. So what happens is if you pay $8,000 a year in taxes, I mean in interest. $8,000 ... If you pay $8,000 a year in interest and you make $50,000 a year, that $8,000 in interest is deducted from your earned income. So now you pay taxes. Now you're taxable income is a basis of 42,000 so it save you a little bit there.

Anyway. Don't mean to chatter or ramble on. Just trying to help people as much as I can. I'm right here in your neck of the woods. I live and work in Saint Tammany Parish. I live, my office is in Mandeville here at the causeway. I'm sure you've seen our moving trucks as they roll down the road and that's just one of the things that we offer our clients. Buy or sell your house with me, use our moving trucks for free.

One of the other things, that we've just started doing for our first time home buyers, and of course if they are receptive to this and they want this. we've done this before in the past, but we're kind of cranking it back up because we're working with a little more first time home buyers just because people are like, "Man, the rates are still crazy low." And we're seeing more of them come through and that's offer a client appreciate parties for those who would like a client appreciate party. We encourage you to invite your friends, family members, neighbors. Whether your home's in Slidell, Mandeville, Covington, Tangipahoa Parish, it doesn't matter. Hammond, Ponchatoula, it doesn't really matter. What we like to do in cooperation with our lenders and vendors is we offer a client appreciation party. So we just have you, hey, invite your friends, family, neighbors and we cater the food. We offer a door prize. Everybody can show up and have a good time and enjoy your, see your house. You know?

So, anyway. I'm Wayne Turner. I hope you've had a great day. Hope you've enjoyed this video. Once again, if we can answer any questions you can call us here at the office at 985-626-1313. Catch us on the web. Wayneturner.com. We'll see ya.