Dreams, USDA and How May I Help You?


How may I help you? Words we commonly hear walking into our local War-Mart that we should be adopting into our own businesses. It is an attitude that puts the client first while it orients our thinking toward listening to the client and discovering their needs. What we want will come when we put serving our clients first.

Two recent clients of mine illustrate the power of simply getting started toward a goal and analyzing what is potentially keeping you from success. Both did just that and one has achieved their dream of homeownership and the other of replacing his W-2 income with rental income. Two very different situations but with the common theme of analyzing their personal situation and what needed to change so that they could achieve their dream; and then taking action to achieve the dream.

Homeownership seemed like a far off dream for this young waitress who has worked many years and managed to save a few thousand dollars toward the purchase of a home. She had always been told that homeownership would be out of reach because it took too much money up front for down payment and closing costs. Rather than let it go, she dug deeper, talked with a knowledgeable realtor and then contacted me to learn what her options might be.

We discussed what her dreams and goals were regarding homeownership, what her available resources were and determined that the USDA Rural Development Loan would meet her needs. This is a no down payment loan for eligible rural and suburban homebuyers that still allows for seller contribution to potentially offset closing costs and prepaid items.

She was able to fully offset all of her closing costs, closed on the purchase of her home and walked out with check that refunded the cost of her appraisal and credit report and now she is a proud homeowner.

Another client believed that real estate investing was an opportunity to provide a second income for his young family, provide stability and generate real wealth. He did not have the funds for downpayment and closing costs and he could not figure out how to get started but this did not keep him from researching, learning and talking to people about his dream.

His outreach to others finally yielded an opportunity and a house near his work came on the market at a great price that would enable him to generate positive rental income. He knew this because he had spent the time researching and understanding his micro-market centered around where he works.

He did not let a lack of funds stop him so he borrowed money from friends, family and a credit card and was able to put together the purchase and rehab money for this first property. This initial purchase gave him the confidence and experience to do it over and over again to the point where he has accumulated a large portfolio of properties.

Along the way I introduced him to the HomeStyle loan program that provided him purchase and renovation money all in one loan. These are similar to the FHA 203k loan program with the big difference being that the HomeStyle loan is available to investors and homeowners while the 203k can only be used by owner occupants.

The common theme for these clients is that they had a dream, a goal that they were determined to reach. They did not let “common” wisdom get in their way but instead analyzed what the obstacles were, asked a lot of questions and connected with people who could help them overcome the obstacles. They took ACTION.

How may I help you?

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