Immigrant Homeownership, Building Wealth & Protecting It

Welcome to the Show 0:00 Buying a home is more than just a transaction. It's a journey. And for many, it can feel overwhelming, 0:06 confusing, and even a little scary. But hey, you're not alone. Welcome to From Rents to Roots: Home Ownership with Work 0:12 Hard Mortgage, where we share real stories from real people who have navigated the home buying process. In 0:18 each episode, we sit down with first-time home buyers, industry experts, and real estate professionals 0:23 to talk about the challenges, surprises, and lessons they've learned along the way. If you're dreaming of owning a home 0:29 but don't know where to start, you're in the right place. Let's dive in. Welcome to From Rents to Roots, the podcast Meet Gloria Mensah 0:36 about home ownership and getting more people into homes. And today I have Gloria Mensah with us. So, thanks Gloria 0:42 for coming on. Thanks for having me. Excited to be here. Good. Good. Let's introduce yourself. Let's get to know you a little bit 0:47 first. Tell me tell me about yourself. Are you born and raised here in Utah? Where you from originally? Let's talk 0:53 about that part first. Okay. Originally, I'm from Nigeria. Okay. I've been in Utah for oh my gosh, how 0:58 long? Almost 19 years now. So, good amount of time. Yeah. So, Utah is home. I am I'm a real 1:05 estate agent. Before then, I was a real estate investor. So, I was an investor for eight years. I became an agent 1:10 because I needed to help my community. A lot of people don't know where to start when it comes to buying a home. And I 1:17 had done it. I'd invested in multiple properties. So, I had an experience and I figured I could help my community with 1:24 my knowledge. So I went to got my license and I've been helping people so far. That's awesome. And what you mentioned Serving Immigrants and Refugees 1:29 your community. So do you have a lot of people that that that are from Nigeria that you know from here or not necessarily from Nigeria. I also run 1:36 a nonprofit organization. So the nonprofit helps provide various resources and services to people of 1:42 color. Okay. Mostly immigrants and refugees. Okay. So that's the community I'm referring 1:47 to. So anybody that consider themselves a person of color, I would love to help. 1:53 Okay. Not to say I don't help other people. I help everybody without color. Correct. [laughter] Even without color, 1:59 I do help everybody. But when I said community, that's what I meant because 2:04 most of the immigrants and refugees have no idea where to start. Yeah. So, I help them with that. Talk to me about the nonprofit a little GK Folks Foundation Mission 2:10 bit more. What What is that? What's the name of it? What does it do? Yeah, it's called GK Folks Foundation. 2:16 Okay. And it's a nonprofit that provides mental health, education, entrepreneurship resources mostly to 2:21 immigrants and refugees. Yeah. And recently when I became a real estate agent, we added a program for building 2:28 generational wealth using real estate and life insurance. Oh, great. Because a lot of people examples like 2:35 Rockefellers and all the big names we know in the country build wealth using real estate and life insurance. So, 2:41 we have monthly workshops. Sure. To educate the community about how you can start building wealth. 2:47 Yeah. Using real estate and life insurance. Okay. That's awesome. Now, we did an interview with a a guy. He was from Down Payment Help and SUSU 2:54 Africa and he he had done a program called the Suzu program. I don't know if you're familiar with it where Okay. where they like they essentially 3:01 contribute Yeah. to a pot and then they gradually take that money out, right? And with the savings and stuff. Have you seen any programs like that or 3:08 But when it comes to real estate, it's hard for you to use that kind of money to put down as a down payment cuz the 3:15 lenders want to see the size of it and all that and it cannot be considered as a gift. But through the nonprofit, I've 3:21 been able to look for a lot of down payment assistance program for people to buy homes. And these are free grants. 3:28 Yeah. Sometimes up to $50,000. Sure. Sure. But yeah, there are those programs you mentioned and there are other programs 3:34 out there. Yeah. We actually and we helped him. We were able to. So that's one thing maybe 3:39 good for you to know too is that with that program, we could actually use that money. Oh, you can? Yeah, we can. We have to document it and 3:45 stuff, but we can use it. How? Yeah, we just had to document it and it's actually in the guidelines that we could use it because it's actually so 3:52 we totally could. That's good to know. Yeah. So if you have other people that want to do that, in fact, we're trying to kind of push because again obviously 3:58 there's a huge need for people that you know that really frankly everyone I 4:04 think should own a home. True. And so the more we can do things to try to help people get into homes, I think the better. Right. True. 4:10 And down payment is obviously one of the problems that a lot of people have. And you mentioned the grants and stuff. Yeah. Utah Housing has great programs. 4:16 We have some other programs, too, that I think help people get into homes, which is great. That's why I really like that Suzu program, too, where it's now that I 4:23 know. Yeah. Yeah. Yeah. Do it. Yeah. Cuz we can actually totally use that money. Use that. Yes, we can. Interesting. Yep. We totally can. We already did it. 4:30 We helped him. It was great. So, Okay. Good to know. So, yeah. Anyhow, but yeah. So, what obviously you've helped a lot of people. Biggest Barriers for Buyers 4:36 What do you see are some of the struggles that some of those those buyers have and that you've been able to 4:42 help or that you see out there with people? The first thing is the mindset. Just the idea that they can own a home. 4:48 A lot of people do not know. Sure. And so you need to actually put it in their minds that it's possible. 4:54 Yes. Love. Then after that, you need to educate them on how they can get to the home. 5:01 Credit is a big thing. A lot of us don't know how to manage our credit. So our 5:07 credit scores are higher. And then down payment is huge. Yes. And another thing that I feel like 5:13 it's a barrier to a lot of people buying homes is just the idea that they don't 5:20 know what they need to get to qualify in in in the sense of finances. 5:25 How much do they have to be making to qualify for what they want? Yes. So those kind of things is what we see 5:31 that has prevented people from buying a home. We can see a household of maybe a mother and a father and four kids and 5:39 both of them are working good but they don't think they're ready. 5:45 Yeah. So just getting into their household and preparing them their mindset and also looking at their finances and their 5:51 credit is something that we do a lot. Yeah. And even if they're not ready now, we work with them. 5:56 Love that. To be ready in 6 months, in one year so that they can eventually get the American dream 6:02 of owning a home. Yeah. I love that it I think a lot of people just don't think they can do it. 6:07 True. And and so and yet it's something that really everyone should do it. It's one of the 6:14 best ways to build wealth. And it's not get-rich quick. No, it takes minutes. It t it takes some time, but it does 6:19 happen, right? That's generational. You talked about that with generational wealth, right? And that home is one of those things where people can be 6:26 spending lots of money on different things and stuff like that and they're living paycheck to paycheck. But if they own a house over 10, 15, 20 years now 6:33 they have 300 500,000 7 a million dollars in a house. Yeah. And that's the reason I actually Gloria's First Home Story 6:39 went to real estate because my story was I bought my first home in 2015. 6:45 Okay. Then I didn't know I could buy a house. So when somebody told me, "Oh, you guys are renting. You don't have a home." I 6:52 did my research for six months. Yes. On how I could buy a house. We didn't have any down payment. So, we didn't put 6:59 anything down for the first program we got and we've got into a home. My husband was making 7:04 $40 $50,000 then. Sure. But we were able to qualify for $250 and we got into the home 7:10 and 4 years later we had almost 4 $500,000 in that home. 7:16 Wow. And that blew my mind and I'm like, okay, this is the beginning. We started buying multiple properties. is we took a hilock and from 7:23 that one property I call it my cash cow we were able to buy multiple properties 7:28 from that and then that's when I was like okay I have to start teaching people how to do this because 7:33 I I didn't know it was possible until somebody told me so that's what got me 7:38 feeling like okay this is possible and we know in the during the pandemic you know how homes were a little bit 7:45 more expensive but interest rates were down we were able to refinance and brought the payment down rented that 7:51 property and then bought more property. So, it's just knowing what to do. Yes. And a lot of people don't. So, I try to 7:58 come in there and fill in that gap. Yeah. I love that. Sometimes people just need their hands held, right? Hey, just 8:04 I don't know what I'm doing. Just hold my hand. Help me to do it. And that's where you come into play. And I love that you have this nonprofit. I love 8:10 that you're doing that kind of stuff because again, there's a real need and and this is one of the best ways to 8:17 bring people out of poverty. True. Wouldn't be. No. But just having a home and paying your normal mortgage 8:23 like you pay your rent. Yes. In five years, I was able to raise that. So again, it's just changing the mindset 8:29 like we said and letting people understand that it's not a get rich quick thing. No, it would take time, but it would take 8:35 time doing what you would do on a normal day. Yes. On a normal day, you're paying rent. If you can afford rent, you can afford a 8:41 mortgage. That's what I tell people. Yes. Yes. So just paying that rent, but instead of paying to somebody else, pay it to 8:47 yourself. Yes. And eventually in a few years, you reap the reward. Love that. Love that. Good. Okay. So, Is Now a Good Time to Buy? 8:53 talk to me about obviously, so a lot of people right now with the market the way it is, it's it's a lot of people think, 9:01 okay, hey, sure, you bought your home in 2015. That was a great time to buy, but yeah, you got to refinance in 2020. 9:07 Okay, sure. But like that that's gone. I'm never going to have that. So now the 9:12 American dream's dead. What do you say to people that that kind of say, "Sure, Gloria. I can see you did you timed it 9:18 well. Good job. But for me, it's different. I wouldn't say there's a perfect time to 9:23 be in the market. The time to be in the market is now. Whenever you're ready is the time because again, we can't time 9:29 the market. Now, I tell people this is the time to buy because it's a buyers market. Yeah. And the reason why I feel it's the bias 9:36 market is because homes are sitting on the market longer. Yeah. Sellers are desperate. 9:41 Yeah. So the buyer has the negotiating power to negotiate what they want from the seller and because the seller wants 9:47 to sell, they will give what they asking, right? Yeah. But buyers are hesitant because they 9:52 feel like the interest rate is higher so their payment will be higher. So I educate them and you know this cuz 9:58 you're a lender. Sure. But I educate them and tell them now is the time to buy. At least you can negotiate the purchase price even though 10:04 your interest rate is higher. When the interest rate comes down, you can always refinance, right? But you 10:10 cannot refinance the price of a house. So I try to educate people and tell them even though you're feeling like now is 10:16 not the right time to buy, just think. Change your mindset and just buy it. Especially if you're ready. If your 10:22 credit is ready, you have the down payment. The seller will pay your closing cost. Now is the time that you can negotiate 10:28 that. So I just encourage everybody, buy when you're ready. I bought when I was ready in 2015. Yes, 10:36 it was a good time. But a few years later in 2020, I had to buy more properties because I took a heliloc, 10:42 right? But that was the worst time to buy because then you were having the highest and best offers and you're 10:48 paying 30 $40,000 more than the asking price. But I still bought it then. So 10:53 that's the mindset I want everybody to have that whenever they're ready, they should just buy 10:59 whatever the situation is in the market then. Yeah. Exactly. And you were still like [snorts] with your story from the time you bought your first home, you were 11:05 still able to raise a really good amount of money in a relative relatively short amount of time. And real estate is one 11:11 of the only few investment forms that can do that for you. True. So yeah, definitely. I feel like a lot 11:18 of people get overwhelmed by it, but they don't understand everything that takes place as far as the the appreciation can actually earn in the 11:24 long run. Yes. They just think about I can buy this house and pay this much and live in this house or pay rent in this house and 11:31 they just think about kind of the now and the moment today. But in the long run it can actually be a 11:37 lot more beneficial. True. A lot of things I see with buyers right now is they want to buy their Start Small, Then Upgrade 11:42 dream home now. Yeah. Family four kids want to buy like a huge sixbedrooms. 11:48 But again mindset. Yeah. Start small. Yeah. whatever you can afford. Now, I've 11:55 seen families that will be like, "Oh, Gloria, we'll wait and save up a little bit or we'll wait and change our jobs 12:00 and make more money." I'm like, "While you're waiting, you can be accumulating. You can be appreciating your property 12:06 and getting equity that you can pull out in two, three years to buy the dream home you have." A lot of people want to start with a big 12:12 single family home. Yeah. And they don't qualify for that much cuz this market is horrible, right? Yes. 12:17 I'm like, you can start with a condo. Yes. Or a town home. Yeah. And then in four or five years, hopefully the market 12:24 turns, you can pull it out or sell that and buy your big dream home. It's better than the condo you're 12:30 renting right now. Yeah. Yes. So that's the mindset I'm talking about. Just helping people realize that you're 12:37 paying somebody else's rent. Yes. Or mortgage. When you can be paying yours and 12:42 building that equity, letting your home appreciate. So in four years, 5 years, you can pull that money out and then buy 12:48 your dream home. Yeah. I love that. I love that. So, talk to me about selling homes right now and Advice for Sellers Today 12:54 stuff like that. It seems like right now we have more homes on the market it seems than kind of thing. And so, some 12:59 people are thinking, hey, is it a good time to sell? What advice do you have to sellers right now? Right now for sellers is definitely not 13:06 a good time to sell. But I've had people that have to sell. Sure. Now, if you have to sell, my advice for 13:13 you is just be ready to negotiate. Sure. Okay. If you really want your home to sell. 13:19 Yeah. I've had a few people tell me, "Oh, Gloria, I can't give 3% to an 13:24 agent. I can't give closing cost. I can't reduce the price less than this." 13:30 I understand you can't do that. But just be prepared for the home to sit on the market for 3, four, 5 months. 13:35 Yeah. If you're okay with that, then that's fine, right? Because it 13:41 would take a minute for somebody to be able to put the offer that you really want. Yes. So, if you have to sell, have like 13:48 desperately have to sell, just be willing to negotiate and be willing to give some concessions, some commissions, 13:55 and I've had a few sellers pull it off the market, give it to a different agent, and the same issue is happening. 14:02 Yes. So, it's not your agent that is the problem, it's the market. So, please trust your agent, listen to your agent, 14:10 and just be patient. Yeah. Love that. So, they may say, "Okay, trust my agent, but there's not What Makes a Great Agent 14:16 always good agents out there and stuff like that." What What you as far as agents go? Why? Why? What makes a good 14:22 agent? Oh, good question. For me, I am more about relationships. 14:28 Okay. I know, of course, people do the work for money, right? Yes. But personally, 14:33 I'm about relationships. So if I am working with a seller and the seller I know their situation because again I 14:39 know the numbers I am willing to bring down my fee for them right not to say 14:46 agents that don't bring down fee are bad agents. No I feel for me personally I feel a good agent is somebody that 14:52 understands the situation able to work with the seller to help them. So, it's more about the 14:57 clients for me. Yeah. And I feel like that client, if I'm able to close on that client, he can refer me to more 15:02 clients and more client and that's where the money trickles in. So, I like to build relationships and I like to build 15:08 that trust with the clients and hopefully the clients can bring more referrals. So, for me, it's more of the 15:15 clients and what they want and how I can help them understand it. Yes, there are agents on there that would just list the 15:21 property on the market and forget about it. But being able to update the seller, 15:26 tell them what's going on, give them analysis of the market, let them understand that it's not just 15:32 you that's the issue is the problem is the market. I've seen that has helped. So, communication is key. 15:38 Sure. When it comes to being a good agent, another thing I would say with regards to being a good agent is also helping 15:45 try to I'm trying to find the word here. let the let the buyers know that you 15:52 have properties on the market. Sure. So, basically just promoting the property and giving the pro the property 16:00 visibility. I would say a big thing for being a good agent is listening. 16:05 Yeah. Because sometimes I have a client who say, "Gloria, you don't you I love you 16:10 because you understand my situation and because you understand my situation, you're giving me good advice." And I Trust Through Listening 16:16 feel like it's because I listened. I was able to hear what they were not saying. And because of that, I was able to help 16:23 that client. So trust your agent. Let hopefully they're good. They communicate with you effectively and also hopefully 16:30 they listen to you is what I would say could be a good feature of an agent. Okay. Okay. And obviously that I like 16:38 that. So that's good. Talk to me about technology and stuff like that. Have you seen technology change your industry and Tech Changing Real Estate 16:44 stuff like that? Is it I remember for example when I first started contracts were faxed and so by the time I got the 16:50 contract as [snorts] a lender it was hard to read. Oh my. So obviously things have changed a lot since then but QR codes different things 16:56 like this. Now we have AI. Are you seeing technology kind of change with how homes are bought and sold? Tell me 17:03 your thoughts on that. Yes. I feel like people are having more access to seeing homes available. Okay. 17:09 Instead of re relying or depending on the agent to provide all the homes for them. people because of technology and 17:16 programs and softwares out there. People are more homes are more accessible. So everybody knows Zillow and Redin and 17:24 all those big sites and they can always access it on their phones and send those listings to their agents. One, it has 17:30 made it easy for the buyers to see what's out there. It has also made it easy for the sellers 17:36 to not necessarily run comparables but to see what have sold in their zip codes 17:41 and areas. Yeah, for us agents, it has made it very easy for us because now we have so many CRM 17:48 out there where we can get all our clients information automatically, text them, emails them and tell them happy 17:55 birthdays and their birthdays. It's always good to hand write things these days, but with the help of technology, 18:01 we can autoate a few things that can just be going in the background helping us look like effective agent. eliminate 18:08 some of the more mundane tasks that it's less what's the word manual now automated 18:15 and then websites where I my website where if a client goes on there it 18:20 automatically just sends them listings and I know what listings they're looking at and it's easy for me to just say hey 18:27 do you want to go check out this one you've looked at it three times things like that and then with AI now all our 18:33 flyers posters are very easy to make and social media can be automated. Your post 18:39 can all be going on its own without you having to edit videos and yeah, 18:44 so it's making the work more faster and easier for us agents and it's also 18:50 making it easier for the buyers and the sellers to see what's out there and what they like. 18:55 So yeah, I don't know what the future looks like with AI coming into the space, but I think it's all going to be 19:02 for the better. Yeah, good. I like that. So obviously as a realtor you're a lot of times often Building a Reliable Team 19:07 seen as the head of the transaction. You're the Exactly. Right. You're the one in charge, right? And and but 19:12 obviously you have a team, right? You have home inspectors, you have title companies, you obviously have lenders and stuff like that. What do you look 19:18 for in those teammates? Why what makes a good team for you? For me is just answering my questions when I call. I stress lenders a lot and 19:26 sometimes I text them in 9 10 PM sometimes during the weekends and the 19:32 lenders I've worked with case for example have been very responsive so I really appreciate that I know I 19:38 shouldn't be doing that but sometimes I just have a quick answer you know just being able to be fast to respond quickly 19:44 is what I feel is the best inspectors lenders just having 19:50 availability one of the home inspector I use I was like Hey, we're closing in a 19:55 few days. Can you fit me in somewhere? Usually, he would say, "Go to my website and schedule it." And I'm like, "Bro, 20:01 just do it right now." [laughter] And he was able to do it. He's like, "Okay, Gloria, I I can fit it in between 20:06 my next and it was all the way into Willer." So, he did it. So, things like that is 20:12 what I feel like for me, yes, builds that relationship and keeps me tied to that group or like you said, 20:19 that team making it very effective. Also, I have a contractor who one of my clients I 20:25 bought a home for them or helped them buy a home in Magna. Okay. And they needed to do a rail for 20:32 what's the word I'm looking for? Just a rail to go down the stairs at the backyard. Okay. Yeah. Yeah. Like a handrail. 20:37 Like a handrail. So it was and they had nowhere to go. So that's another thing. As a real estate agent, you have to be 20:43 able to have all these people in your corner. So when your clients say, "Hey, I need to do this to the house. I need 20:48 to do this." The fact that you sell them a house doesn't mean you are disconnected from them. Two, three 20:54 months later, they'll text you, "Oh, Gloria, I need to do this." And I'm like, "Great. Okay, this is a contact." 21:00 I sent the contractor over. He fixed it. And she texted me, "Oh, thank you for this connect. He was able to do a good 21:06 job." So, not only somebody that responds, but somebody that does a good job because then I'm trusting you to 21:13 give a good service to my clients. So, that relationship continues. So just building that relationship with people 21:19 that value their own services that they give to people and do a good job is what helps the 21:25 team. I love that. It really does come back to people. A lot of times people worry about people losing their jobs and stuff Relationships That Win Deals 21:31 like that in this industry, but a lot of it is relationships still, right? And I think that's what maybe differentiates a 21:38 good agent, a good lender is putting people first and trying to really help people. And we go back to what we 21:44 started with those that maybe don't think home ownership is even possible for them, right? And so that's where, 21:50 hey, those relationships matter, right? The connections you have with people. And so they I don't think it could poss 21:59 you really are living that American dream, right? And so I think people can look at that and say, "Okay, if Gloria did it, we're not that different. Maybe 22:05 I can do it, too." Right? Anyhow, just going back to relationships and all that kind of stuff, it just I can see how important that is still here. Yeah, I 22:12 had a client reached out to me on Facebook one day and she's not to bring racism or anything into this, but she's 22:17 like, "Oh, I see you're a black woman. I feel like you can help me." And I was like, "Anybody can help you. Not because 22:23 I'm black, right?" But she had previously worked with an 22:28 she didn't get the home. That was a year before. And she's like, "I already I wasn't able to buy it, but I just want 22:35 to try and see if you can do it." Plus, in your video, you said it's possible. So, can we And within 4 months, we're 22:42 able to get her home into a big property on a three something 3.5 acre lot. 22:47 Oh, wow. That's awesome. Yeah. And it was she's into horses. It was beautiful just to see that she was able 22:54 to get what she really loved. Love that. Yeah. Again, so yeah. Yeah. Love that. I love that. Gloria, this has been great Where Clients Come From 23:00 discussing these things. What does we kind of wrap up? Is most of your business then right now coming from the 23:06 connections you're making, you know, repeat friends and family, past clients, where do you find most of your business 23:11 right now? So, for me, it's mostly just people from the community that I have worked with. 23:18 Okay. I run the nonprofit for over 15 years and the moment I put that I was a real estate agent, 23:23 people just started coming to me. Wow. From the community. So, I'll say 90% of 23:29 my clientele are first-time home buyers. Okay. And that's just people that feel like, "Oh, we can do it now." 23:37 So, it's cool to see that. I have recorded closings with my clients 23:42 and I [clears throat] just let them talk and it's always an emotional Sure. closing. All my closings are emotionals 23:50 and just hearing their story as to how they didn't think it was going to happen to now it's happening. And I think that 23:56 gives me fulfillment. It makes me feel like I'm doing the work and it's not just for the money. It's 24:02 for that emotional closing for me at the end of the day. You're right. Again, you're and I think 24:08 the the perfect blend of business is when sure you brought up, hey, yes, we do make money, right? We have to make 24:13 money, right? And but I think the best blend is when you're legitimately 24:18 providing a service, a good or service in this case that that legitimately helps people. Again, you are actually 24:25 helping people have a better life by owning a home 100%. This is something that will benefit their lives. 24:31 Correct. And so just teaching them and helping them, holding their hand through that process. 24:36 Yeah. It's so important. It is. We have monthly workshops and with different community leaders and Long-Game Homeownership Plans 24:42 lead members. Yeah. So we had one about two years ago and there's this lady that came and then she realized that she 24:49 wanted to buy a home, right? So I worked with her for a whole year. Yeah. With helping her open credit cards cuz 24:56 she had no credit cards. Yeah. To helping her get a job. She had one 25:01 job, but it wasn't qualifying her. So if I was able to work with her for a whole year before she finally bought her 25:08 home. To me, that's more of it's more of building that relationship and 25:15 encouragement and making them know it's possible. Yeah. cuz I've had a lot of agents 25:21 that'll be like, "Oh, you're not ready. When you're ready, reach back out." For me, I'm like, "You're not ready." 25:26 Okay, let's set up a plan. Let's get this happen. And the closings I'm having now are closings that I 25:33 probably started working with a few years back. Yes. Do you get it? So, it's crazy how for 25:39 me, it's not just about, okay, you're ready now. Let's do it. Is let's get you 25:44 ready. And that and I think that's so important because again this isn't buying a TV. You know what I mean? This 25:51 is a big this is a big purchase and it does take time and it sometimes takes a lot of time to save up that money maybe 25:57 to fix the credit to get the job income that we need for the whatever it is. So I love that you're helping them on that 26:04 road because again it is a path to home ownership that that people have to walk. Correct. 26:10 And it's not a it's not happened in a day. Yes. And I also try to help them to 26:15 start thinking that they can start making money using real estate or building wealth. Yes. 26:21 So you buy your home now, I'm giving you two years. I'm coming for you. Tell you what you need to do to move out 26:26 of this home and buy your next home. Perfect. Okay. Yeah. So not just Okay. Hey, let's get you a home. But hey, 26:31 let's I have plans for them. I mean, they want to follow their plan. [laughter] It's fine. That's up to them. 26:37 That's my plan. So after 2 years, I tell everybody that I have worked with. I was like, "Hey, do you think you're ready? 26:42 Do you want to move on to your next property?" The goal is in five, six years, you have at least two or three properties. 26:48 Love that. And that makes you a millionaire right there already. Yes. Depending on the price of the home. Sure. Sure. Sure. 26:54 You could be a millionaire with two homes. Yes. Love that. Love that. Love that. Yes. That's awesome. Gloria, this has 27:00 been great. That's been awesome. Yeah. Any any I was just going to say having worked with Gloria before, I could just say 27:06 that everything she said is facts. It's it's been it was awesome working with her before and I really can tell that 27:11 you really do care about your clients and definitely you're an incredible agent. 27:17 So, it's been awesome to have you on here. Yes, I could tell that too and it you're doing good. So, it and that's what this 27:23 is all about is the name of the podcast is from rents to roots which is really all about trying to get into 27:29 Yeah, exactly. Deep in your roots. Deep in your roots. Getting those houses. Yep. Love that you're doing that. Love that you're helping people. Protecting Homes With Insurance 27:35 Yeah. And something else I try to put in all the time is now you've bought the home, what's next? 27:42 Yeah. How do you protect what you've bought? Sure. We protect everything we have by getting 27:47 insurance. Sure. We have insurance on our cars, insurance on our phones. Everything you have, you insure it 27:53 because if it breaks down, you want it to be replaced, right? People get mortgage insurance, but 27:59 that's not for them. It's for the bank. Correct. Correct. So, what insurance do you have for your home? Most people qualify for the home 28:06 with two incomes. What if something happens to one income? How you going to survive? 28:11 So that's why I also put life insurance as a tool. Y to help people build wealth because a 28:18 lot of people when they hear life insurance, they hear debt. Sure. And in our community, it's a taboo to 28:23 talk about life insurance because nobody wants to die. Are you wishing death on me? Why should I? you know those kind of 28:30 mindsets or somebody's going to kill me and take the money kind of thing. But depending on the type of life insurance 28:36 you have when you get sick and you cannot work and that income is gone, the life 28:42 insurance can pay out and have living benefit and it can pay out to you and it can replace your income. Sure. 28:48 So I educate all my clients, tell them, hey, you have your home, you bought it, now let's protect it, 28:54 right? Get yourself covered. Get all your kids. Get all your family members because you never know. If we knew when 29:00 we're going to get sick, we would have planned for it. Sure. Sure. It'd be easy [laughter] if we can just do it. Easier for us. Oh, in 2 years I'll be 29:06 sick. Okay. Then I'll start paying for it. No, we want to start now cuz everybody was God forbid or knock on wood, nothing 29:12 will happen. But we don't know. We always have to. So that's how I incorporate it. I tell them you can 29:18 build wealth buying real estate, but you have to protect it. If something happens and you pass away today, the home 29:24 hopefully goes to your family if it's in a trust, right? But if it goes to your family and they can afford to make the payment, the 29:30 house will be gone, maybe for closure or whatever the case might be. But if you do have life insurance that pays out, then they can 29:36 pay off the house and then own the property and still be okay. Yeah. Yeah. No, love that. Again, all about trying to figure 29:43 out the best way to help people and to manage a world that is in commotion and 29:49 a lot of information. That's got a lot of things out there. So, Gloria, thank you. Appreciate you coming on and Final Thanks and Wrap Up 29:54 talking to us and and glad you're doing a lot of good out there trying to help people get into homes. So, and protect those homes 30:00 and protect it. Not just get into it. Get it, protect it, and then transfer it at some point and then and buy more 30:06 and buy more. Yeah. I love that. I love that you have this whole path that really tries to help people do that. Good job. Keep it 30:12 going. Get out there fighting the fight. And I appreciate you guys cuz you guys make it happen. Enders like you are the 30:18 ones that we can run to and say, "Hey, can you pre-approve this person?" And if they are not ready, what can you see 30:25 that they can work on to get them ready? So, working with people like you, lenders like you, helps make the job 30:30 easier. I have no clue when it comes to finances with you guys, but you can tell 30:36 me, Gloria, tell them to work on this and I will pass the message across. Yes. Yeah. Perfect. Yeah. That's again 30:41 what makes a good team, right? You do have to have good players on your team that is able to help people and stuff. Yes, we try to do our best in our little 30:48 area of expertise, right? Yes. And you're doing a great job. Thanks for making it possible. Yeah. No, you're welcome, Glory. Thank 30:54 you. Appreciate you coming on. Thank you. Thank you. Thanks for tuning in to From Rents to Roots. I hope today's episode gave you 30:59 insight, confidence, and maybe even a little inspiration on your home ownership journey. If you enjoyed this 31:05 episode, make sure to subscribe, leave a review, and share it with someone who might find it helpful. And if you're 31:10 ready to take the next step in buying a home or just have questions, reach out to me or my team at Workhard Mortgage. 31:17 We'd love to help you on your path to home ownership. Until next time, keep working hard, keep building your future, 31:22 and we'll see you