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KMBZ>Audio & Video on Demand>>Life As You Own It 5.30.14 Segment 2

Life As You Own It 5.30.14 Segment 2

Jun 6, 2014|

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  1. Life As You Own It10.24.14 Segment 2

    Audio

    Fri, 24 Oct 2014

     

    interest rates found at 1:48, 2:48, 7:54

    May be conventional but there's going to be some significant adjustments to interest rates . In a situation like this you're gonna wanna have a significant down payment if you're trying to go conventional because most mortgage
    a little bit now you're able to get a little bit better interest rates you're able to get the mortgage insurance products that are out there. And and it's going to be more formal process remind them home now 700 above is is really ideally where you wanna beat. And we tell you there's adjustments 707 when he sat between a 7474. You know above typically 760 or higher. He would qualify for the lowest PMI rates if you're not put in 20% and you can get the lowest mortgage insurance rates. Just gonna qualify for the lowest interest rates . 74760. There are some minor adjustments and once you get under 740 even though somebody with a 725 would be considered good credit score . He will pay slightly higher interest rates may even an eighth of a point higher the somebody with a 740 some odd score. You're over 700 but not quite the 720. You're probably paying about a quarter point higher rate than your neighbor who might have that 74575760. Score how much is an impact. Q well a 200000 dollar loan now thirty bucks so month. And I overtime nets in and a so it's important maximize the scores folks into get your foot in the door and deeply wanna be keep in mind to use that if you have a 76 year our credit score . Or 740 or seven when he or anything in there. Government loans there's not an adjustment so once you qualify for getting
    ugly Chris or what's gonna happen well you got some real pretty credit score a threat to get through pretty Chris the war. Anyway that much of the southern accent housing you got a real pretty credit score I don't know which your hand what's that mean mighty sale like that. Because I'm from the south right so all it does happen well we get this question a lot mark and you've got the answer what's it gonna be the effect with that. Lower spouse score well it is going to impair your ability possibly be at alone and it's definitely gonna hate you or interest rates they're gonna take the anyone who's gonna take the lower. Median score some median is gonna be that middle score. So if you've got to if you personally have a. 76740. And a 750. Your mid score is 750 if your spouse has a 68630. You know 610. His or her mid score is 630. So that means they're gonna have to they're gonna grade you as credit worthiness of a 630. Credit score which is going to make you work. Deal not real attractive if you even qualify. So yes it can edit what what
  2. Life As You Own It10.24.14 Segment 1

    Audio

    Fri, 24 Oct 2014

     

    john mark found at 10:16

    its keep on keep it on him. All right we're back live John Mark McDougal that I joined by Rosa vote you're filling in for Craig Miller we thank you for hanging out with a as
  3. Life As You Own It10.24.14 Segment 3

    Audio

    Fri, 24 Oct 2014

     

    tax efficient found at 4:23

    have more complexity but you have more opportunity. To put things any tax efficient fashion into you were the state. And to you know that's all we want avoid tax man pass on the warriors take
  4. Life As You Own It 10.17.14 Segment 2

    Audio

    Thu, 23 Oct 2014

     

    investment properties found at 12:36, 13:08

    hearts go South Carolina called the hotline to ask I purchase cheap investment properties in the last year and a and a total of five properties now. Including my house I live. I had mortgages on
    it to work at a higher rate of return and what does investment properties are yielding. And ideally they were cash flowing before you got this inheritance if not need to sell it anyway. And if they were your major money there. Get this inheritance to work for you at a higher rate of return then now what's writing off that expense for those investment properties is costing him so. You need to go you need to stay stay stay stay invest that money work with the financial
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Automatically Generated Transcript (may not be 100% accurate)

Okay. All right we're back mark McDougal Craig Miller. I don't cracked -- is -- been awhile and -- has John -- just -- hey folks someone give a shout out to to all our friends that tune in a regular basis to our our affiliates across the nation we continue to grow. Really proud of I'm really proud of the work you do you -- the job my friend that you were excited that we get your feedback each and every week we -- questions and and we wanna be your resource remember you can check this out. By going to life issue -- dot com you can also call as we've got someone standing by 24 hours day seven days a week. -- at 877300. 1536. Again 877301536. Where he can choose an email questions like if you own a dot com that's questions that might be you own it dot com we wanna be your resource -- to place to get. Any kind of homeownership question answered how do your best on interest whatever it is if we can't answer. We're gonna direct you to -- professional. Or any resource is that you can get the best advice. And and its own. This life that's uncle Terry. Here's has gotten multiple dots on it so it forms a color but ultimately it's comprised of multiple different colors and I would say that its future. And baby blue. Dots. On a Pearl White I. Thought our holiday folks get a check out the video podcast to see exactly were talking about it's actually kind of redshirt at -- probably more than you need is your driving down the road. So I'm all right so cracked yes they're -- covered by things that drive your real estate agent nuts I know you've done -- -- -- -- -- home IAE. I've -- -- yeah I am folks -- the good news is since Q2 2012 so were working on over two years now. There's for a quarter of recorder. Home prices have been on the rise it's fantastic folks we've got a nice strong. Economy we've had on him we've watched in that time from you can watches unemployment. Has gone down and down and down theoretically if you -- -- yeah that's right okay. -- and do we have witnessed that the it's the demand for housing. Has continued to grow. And so you know is is we've seen in most markets there's a lack of inventory. More more houses a company on the market as people are now 10 my gosh we had enough appreciation I can now sell. Make a few dollars and be able to have a down payment the next home. So it's something we -- we can't deny it if you make it a part of your overall plan don't he and don't think that the three year rich on housing is a good thing that you may be made expiration all I need a bigger house now why because this house is gone up in value. I need to get a bigger house for a vomit don't. The conservative. He keep the same -- and make improvements in the home you how if you can do it if they can meet your needs. Live within your means were all for I'm given it back to the economy and make sure it's a part of a financial plan the attack that you can stick to. On even when times aren't that more -- lean. -- Craig so so really we say I'll just say it's it's in almost double digits Q4 Q1 of 2014 over national home prices. Rose ten point 3% Q4 Q1 two that's -- Q3. 11% in Q4 2013 11% before that were for that 10% nine point arms it folks that's some significant. Appreciation and it means that. That investment real estate. -- it presently may look like a great short term investment. Don't let it fool yeah it's a long term investment that each person's unique situation needs to be. -- thoroughly through before you jump. Trick or jump out. -- Craig what else put those who don't discuss today. I got the most famous talk let's talk about what he's talking about so let's talk about it OK so as -- beam me up cranky. -- do you hear about this you hear about this house radio guy not a doctor. Time suddenly got him up with a under our summit doctor not a radio on my doctor had a doctor -- a -- on a regular guy Jim. Is (%expletive) I don't know if that was again imitation of bones but that's the best I've got the price go -- that you could be the next one to take. Control of the bridge of the USS battle that is if you have. 35. New median -- doubters despair. That's asking price of up. A Star Trek beamed at layer in Boca Raton Florida star -- you should see the picture we'll have a link to this on the site. -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- You're the -- -- -- that kind of like the show here in mind that you -- it I'm going to be real honest here there's bounds that's. -- a doctor Barbara fire. A breakaway air RI or whatever else -- let's -- a doctor not a some -- I've seen you at the gym shooting hoops in you my friend are bricklayer a club okay he's still at the gym with delays at your girl scout. -- -- It's what's your cookies -- right. A two but it what's the different what's from girls got Asian girl didn't let it way to -- that much all right okay say you are with -- five pounds so so this home is pretty cool yeah I just checked it out folks it'll spare time 135. Million dollar listing. That really does look like a Star Trek. It's got a small pool of -- this home all 27000. Square feet with an eight bedrooms a ballroom housing over sixty -- to my computer so. Does that make it a ball -- ballroom. Really a negative video and our decades and decades then maybe a whopping sixteen bathrooms. And and also has three full bars at 15100 dollar bottle 15100 dollars a 15100 bottle wine cellar a library a GM. Andy full basketball court. I -- a -- I take my chances against who opened against a person. That has the whole house made out to be like the Star Trek commands. I don't know in -- think I could take him or her. Probably I don't anatomy Star Trek fan and never really was my dad would watch it sometimes it's gosh this is not -- huge -- I -- Alex Star Wars. Can't movie's all right as we sew so also in the Internet. In other real estate interest in real estate news that may not apply directly to all of our listeners but there's -- -- -- -- -- on -- -- private island. Sells for thirty million dollars off of its original asking price. You can get innocents island in the Bahamas for a cool seventeen. Million dollars Craig that was original list price of 55 million. -- I think he should jump in pay full price we can both go down there hanging out folks keeping now with -- -- -- if you like usual it. -- friends we are back slightly. Only it. How about those discounts on private island. Yeah so -- -- yes a lot better deal to meet in the Boca Raton deal I agree you just need to you know I just need about -- the seventeen million of my closest friends 161999000. My closest friends and we could -- That awesome the cost a billion I got my brother and I got a dollar ready. You know what -- we've got probably what about 25 million listeners to the show folks let's buy an island. What you'll make it a life as you own it you won't have Dick kind is sheer tennis family Miller. Each Swiss family McDoogle each one of you contribute and we by the silent. You're allowed five minutes -- -- countries keep my kids a year type seventeen million of -- -- the math here that it might lead seventeen million Arab militant is kind of risky about the whole island things can throw this out there if you -- some pirates some pirates come on. Modern day pirates might have. Mark you're familiar pirates -- -- happening is you're not -- Jack bird and but what happens is. All the sudden your on your island you chill and get a clinical lauding your hand you have a domain go in exceed these guys may show up from Cambodia or something I don't know. And they get machetes in AK forty sevens are like this is our and now and then nobody Hannity -- and about it right. Somalia they take all the rom Somalian city called around and all the women and Edwards is that we're just put -- to sit -- -- is on a boat. As they see you later say his ship sails a -- -- later so that's the only. Scary to get in your police force right or some kind of waited you know one thing you cool -- guy you know now we have. Yeah shoot out I include big big they'd be if you what you need to do well if you're on the islander on the -- and that in the -- -- -- -- the public has come and take your shirt off they're gonna go. You know what it looks at Cyanamid and added having fun I haven't it back to guerrillas. It -- cut -- that quickly together like that and don't like -- silverback that's not gonna -- let him more -- -- -- back. All right just for the record we digress not just a little bit there but OK so let's look at the cement. -- all from the island. But so. Student loan that Craig talked about it upon. Just serious deal and it it's it's beyond serious it's an epidemic and I'm not exaggerate my youth who -- epidemic it is. It is truly a financial. Epidemic that has overtaken. A generation of people. I'm I'm I'm not I mean I'm not saying this is exaggerate in terms unity this is something that cannot be taken lightly has been looked at because. I believe this is something can be turned around. And I believe the next generations to come concede the fallacy how all this went down and go wait a minute wait there's got to be a better way to do this so the system itself. Has kind of dictated to the consumer. In such a way to -- it sucked into culturally so we don't want that are so let's talk. Let's talk about it aren't folks so why. You know I've I've I think I told just -- to you -- I've I've I've told many a youth many youth because I'm not close to a youth anymore. I'm -- there's always opportunities to attend college and one novel without taking on a bunch -- Monday it. One novel concept is work and save your money. Another one is join the military save your own money did the IGI bill and her college fund and give back to this great country sir on that's another option you have those options and here are five other colleges where you can go to -- free. On number one analyst and these are no order but there's one not too far from -- On point lookout Missouri its college of deals are hardworking they call it harder or you that's right how to do it -- those -- puts students to work to reduce the cost of hiring outside labor. Cause of the Ozarks are all students work fifteen hours per week on campus and 240 hour weeks. During the school year in positions ranging from landscaping to administrative jobs. Any grant or scholarship money students received through other sources is also applied to wishing cost. And all remaining tuition is covered by the schools more than 350 million dollar. In down there you go folks College of the Ozarks there's an option for yet another option Craig what is -- number two. Ladies and gentlemen in New London Connecticut's. Tuition price there again absolutely free -- the do mark. I'm and it's actually the US Coast Guard it has I was just trying to so right now Canada Yemen how they denied it is parity of -- out and the senate because I don't have the Coast -- yes. A term of service us to the Coast Guard along with the four other federally funded services to she's not the only one is just one of our examples. By the US Naval Academy academy the merchant marine academy to air force academy and the military academy. Go army all provide free tuition. Though some require students to pay certain fees after graduation Coast Guard graduates are required to serve. For at least five years service warrants other academies range from five to eight years in the army you have -- -- it's eight years is Europe. Your obligation you may not have to be active duty that entire time. But these are incredible educations that not only prepare you for life or the corporate world. That they they give you an education that is. Seconds to knock it right all right also we've got actually US Naval Academy there exactly -- to probably. Anyway come -- but okay folks so you know that -- you know drilled out dungeon if you're for services -- we do should he stay or should he gets that Greg Craig -- do it you're on the -- and my friend at all I gotta do is pull this up real quickly. As music please enjoy the music folks enjoy the styling of yeah. Right on drums and screening. At at at and rich and Boca overtime Florida called in that. Hi guys loved the show thanks rich say so I'm a new real estate investor and I want to expand my properties. What is my best source of financing I know people will have big lines of credit they don't know if I would qualify. How would you recommend I grow my business take out individual mortgages or find a line of credit they Craig I know you select that she is goes -- should he stay or should you go can we get a. Actual should you stay or should you go you know and not as I wish nick well like I guess so I like you know what I like about this phenomena anti rich. There HU well. I like it because there's a lot of people this question I mean you hear it all the time maybe you're sitting up watching -- infomercial maybe write a book maybe your friends told how much money there buddy that they knew from another buddy. -- him buddy doesn't. I enjoy your real estate. And -- folks bottom line is. -- when it comes investor OC it's can depend I don't know if his whole financial situation as many people use a lot of credit. The deal to buy properties and Atlantic credit but I can say that if you start small you start off you're gonna have to take out individual mortgages. Yeah any down came between 25% in good credit. If you've got those things and little bit reserves you can make a great little business out of it just got to get educated if you don't feel like you've got full command of it. You advice look it's early closing time back and if you.

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