Indy's Real Estate Gurus

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But now, let's go into, I found this nice house, open that kitchen. It looks like my grandparent’s kitchen. And the bathrooms need to be redone what can people do?

Well, you know, there are products, there are financing products that make this work. Let's I'm going to quickly go back to one that's already been fixed up. If it's already been fixed up, you do normal financing. Right? If you do conventional FHA one of the things you have to watch out though, is if you find somebody who's flipping a house, FHA is going to require that to be six months, even unconventional, that can create issues if it's a month or two after they closed on it so that you have to have from the time that person who just bought it closed to the time you can actually take an application on an FHA loan, it has to be six months.
So that's one of the issues that can come up so a lot of times you'll see those flips that somebody's trying to sell and it's they won't sell it FHA and that's why I, okay. But if you're looking to fix up a home, we have a part of our company called Fix it mortgage. And on a fixed mortgage, we have a variety of products available that allow you to finance a home that needs to be that you want to do either needs repairs, or you want to do improvements on the home.
The key here is you have to understand if you find a home that needs improvements or needs, let's say it let's say it's missing carpet in the house. And so it's just underlayment, the bare floor, right concrete, the four by eight sheets of plywood, which is underlayment, that kind of thing that's not financeable on a normal FHA, conventional product VA on any of those, or if it has, you know if it's missing its HVAC, HVAC because somebody removed it, or it or that doesn't have sinks or toilets or they aren't working, or there's anything like that anything that is considered making the home unlivable. Now, unlivable doesn't mean, somebody won't live there, because I have had houses appraised that were unlivable that somebody had been living in. Okay, but, but most of us wouldn't want to live that way. So it's what's considered unlivable. So this product allows you to finance it.
So that's one of the benefits, it allows you to finance a home, that is not really livable at the time. Okay, that's number one. Number two, it allows you to finance the fix-up costs in the mortgage. So if you buy a house, let's say you bought a house, it's 200,000. And you have $80,000 worth of improvements that you want to do you want to read, you know, put in a new kitchen, redo the floors, whatever that happens to be, when you do that when you want to do that, now you have a $280,000 total investment in the house. Well, as long as the house appraises for gives us the equity we need, then we can finance it, or we can finance that entire amount.

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In the latest episode of the podcast, Rick Ripma and Missy Shopshire dive into the transformative world of coaching, particularly focusing on how it serves as a crucial tool for navigating personal and professional transitions. Missy, a seasoned coach and a best-selling author, emphasizes the critical importance of aligning one’s life with genuine purpose and staying true to oneself. Their discussion is not just theoretical; it's filled with actionable insights, including the value of authenticity in networking and connecting with others on a deeper level based on shared interests and experiences.
As the conversation unfolds, Rick and Missy explore the specific benefits of coaching for high achievers in the real estate industry. They highlight how even the most experienced agents can significantly benefit from coaching, which can refine their skills in education, empowerment, and client prioritization. The importance of building a supportive community within the industry is also a focal point, underscoring how vital it is for real estate professionals to foster relationships that go beyond mere transactions.
The episode is rich with practical advice for real estate agents amid the evolving landscape marked by new legal challenges and market uncertainties. For instance, they discuss the necessity for agents to educate themselves about recent changes in real estate law and to prepare effectively to communicate these changes to buyers. Missy’s book, "Forces at Work," is recommended for listeners interested in a deeper dive into her coaching philosophy, and opportunities such as her group coaching program, "Powerful Partners," and the "Forces at Work Live" event are highlighted as excellent resources for professional growth and networking. Whether you're a seasoned agent or just starting out, this episode is packed with insights that promise to inspire and empower.

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So the next thing is, let's not just talk about finances, let's talk about emotions. I don't know how many times Rick probably got it and it'll hit home. As soon as somebody closes on their first house, and they've never owned a home. I've gotten several calls afterward because I do the follow-up call and all that. And they'll be like I can't, my wife, as soon as she got in the car, she just started crying. And when you first hear that, you're like, Oh, my goodness, that's not good. But it's the cry of joy, that they never thought they could have homeownership, that they're no longer paying their landlord to live in a place. I mean, it's so I don't care how long you've been doing this, it always hits you in the right spot, you're like, Oh, that's nice to hear that we were able to help them.

Yes, it makes a huge difference. It's a driver, of why we're in the business. Correct. And it doesn't matter doesn't even have to be the first time the first time is very exciting for people. But that second home, you know, five, six years later, 10 years later, 20 years later, or a year and a half later, whenever it happens to be has a very similar effect. It's something that people care about. Correct. You know,

I mean, it's not just that I mean, usually, the first home you sacrifice some of your on your wish list, your second home, your third home, you get a lot more of your wish list. And that even hits an indifferent spot. I mean, the things that you always dreamed of, but we're not able to get until now. So that's the nice thing and the emotional for me it's just the whole emotional thing of it is yours. And I think is the biggest thing is it's especially in this type of society we live in today it's more emotion-based and stuff like that. And I mean back in Rick's day people try to not show as much emotion now it's more people show a little bit more so by thinking about it that way, there's a huge emotional aspect to owning a home and living in your own home.

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At the age of 19, Glenn received his Real Estate license and the Indianapolis market was never the same. He quickly rose to the top of his seventy-five agent office and stood out as one of the top producers regionally.
Glenn was recognized as one of the Top 10 sales people in the nation for closing over 200 home sales just after the market crash in 2007. He has mastered the business of selling and continues to do so today.
After three years of becoming a top salesperson, Glenn purchased his own franchise at the age of 23. The market was astonished and was sure he was destined to fail. Through his passion, vision, drive and learned sales skills, he grew his organization into one of the most successful real estate offices in the world.
To Contact Glenn Bill
Call or text 317-590-7757
[email protected]
https://www.glennbillgroup.com
Visit Our Podcast Page
https://www.podpage.com/indys-real-estate-gurus/
Contact Hard Working Mortgage Guys
https://hardworkingmortgageguy.com/
Rick Ripma NMLS# 664589
Call or Text 317-218-9800
[email protected]
Ian Arnold NMLS# 1995469
Call or Text 317-660-8788
[email protected]

Connect with Us:
For more episodes of Indy's Real Estate Gurus, visit IndysRealEstateGurus.com. Join our community for more insightful real estate discussions, tips, and expert advice. Don’t forget to subscribe to stay updated on the latest episodes!

Follow Us on Social Media:

• Facebook: Indy's Real Estate Gurus
• Twitter: @IndysREgurus
• Instagram: @indysrealestategurus

Contact Us:
Have questions or want to get in touch? Email us at [email protected] or call or text us at 463-223-9592. We love hearing from our listeners!

Support the Show:
If you enjoy the podcast, please leave us a review on your favorite streaming platform. Your support helps us grow and reach more real estate enthusiasts like you!