Achieving The American Dream with Loreana Pachano
Loreana Pachano shares her dual mission of navigating legal immigration and real estate to help newcomers establish roots and build generational wealth.
Loreana Pachano
Immigrants and Home Ownership
At a Glance
Archive Scoring
Introduction
Loreana Pachano’s story is one of dual purpose, woven from her own experiences moving between Venezuela and the United States. In this narrative, she explores the profound connection between legal residency and the stability of a physical home. For Loreana, homeownership isn’t just a transaction; it is the final anchor of the immigrant journey. She reflects on the emotional weight of the 'new person' experience—the scariness of starting from scratch in a country where your credit history doesn't follow you across borders and your professional documents aren't recognized by traditional lenders. Her work serves as a bridge for those who feel invisible to the standard financial system. Loreana advocates for a long-term vision of wealth, distinguishing it from the fleeting nature of being 'rich.' She views real estate as a vehicle for generational security, ensuring that families don't just survive in their new country but thrive and provide a legacy for their children. The conversation shifts toward the evolving Utah market, where the frantic bidding wars of the past have given way to a landscape where negotiation and careful planning are possible once again. Loreana’s approach is defined by deep empathy and a refusal to settle for a 'one and done' mentality. She often walks alongside her clients for years, guiding them through the slow process of legal status before ever looking at a listing. This episode is a testament to the power of patience, the importance of cultural competence in finance, and the enduring pull of the American Dream.
Episode Overview
A detailed look at the topics, people, and context of this conversation.
This episode features Loreana Pachano, a Utah-based real estate agent with a unique background in legal immigration services. Loreana discusses her specialized focus on helping immigrants navigate the complexities of the American housing market, particularly those coming from South America. She details her dual roles, explaining how she assists individuals in obtaining legal status while simultaneously preparing them for the financial responsibilities of owning property. The conversation covers the technical hurdles of the 'immigrant mortgage,' such as the lack of traditional W-2s or established credit scores. Loreana shares insights into Utah’s specific economic climate, noting how its status as a high-growth state creates unique opportunities for new residents. Throughout the episode, she emphasizes the importance of new construction as a tool for buyers who need more time to prepare their documentation. The emotional tone is warm and expert, reflecting Loreana’s deep personal commitment to her community and her belief that everyone deserves a seat at the table of homeownership.
Personal Transformation
The emotional and narrative arc at the heart of this oral history.
Loreana Pachano's journey is a quintessential story of the 'American Dream' in reverse and forward motion. Having spent her formative years between Florida and Venezuela, she experienced firsthand the volatility of political and economic shifts that drive migration. Her transformation from an immigration consultant into a dual-career real estate professional was born out of a desire to solve the 'potholes' she saw her clients hitting when they arrived in the United States. She evolved from merely helping people gain legal status to helping them plant permanent roots through homeownership, effectively bridging the gap between being a newcomer and becoming a stakeholder in the community.
Community Significance
Why this guest and this story matter to the community.
This story is significant because it highlights the often-overlooked hurdles that the immigrant community faces in the housing market, such as lacking a two-year U.S. work history or traditional credit scores. It serves as a masterclass for future buyers on the importance of specialized advocacy. By focusing on Utah as a hub for economic growth, the episode demonstrates how homeownership acts as a stabilizing force for the state's growing international population, teaching future buyers that non-traditional financial backgrounds do not have to be an absolute barrier to entry.
"I am an immigrant here and that's actually been my primary focus in in real estate, working with immigrants."
— Loreana Pachano · 01:08
Key Themes & Life Lessons
The ideas that run beneath the stories — and what they teach about community, leadership, and belonging.
Immigrant Path to Homeownership
Achieving the American Dream
Real Estate as Generational Wealth
Long-term Financial Planning
Utah Market Dynamics
Mortgage Qualification for Foreign Nationals
Homeownership
Immigration
Wisdom & Life Lessons
Practical wisdom extracted from this journey includes the advice to 'buy the price, refinance the rate.' Loreana teaches that while interest rates are fluid, the purchase price is fixed, making market pullbacks a prime opportunity. Additionally, she stresses that it is never too early to start a plan; a buyer who isn't ready for two years should still be consulting with professionals today to ensure their tax filings and credit building are aligned with future goals.
Key Takeaways
- 1The American Dream for many immigrants is a two-step process: legal status followed by homeownership.
- 2Financial preparation for homeownership should ideally begin 2-3 years in advance, often alongside the immigration process.
- 3New construction serves as a strategic bridge for buyers who need time for their tax history or credit to 'season' before closing.
- 4Real estate is a primary vehicle for moving from being 'rich' (high income) to being 'wealthy' (generational assets).
- 5Current market conditions in Utah have shifted from bidding wars to a more balanced environment where buyers can negotiate and sellers offer concessions.
- 6Specific documentation hurdles, such as foreign work history or lack of W-2s, require a lender and realtor who understand immigrant backgrounds.
Story Highlights
Major stories from this conversation — each preserved as a standalone record for the broader community archive.
Loreana shares her personal history of moving between the US and Venezuela. Born in Venezuela, she moved to Florida at age two, then returned to Venezuela for high school and college. After marrying her husband in Venezuela, the political and social instability prompted her to return to Florida before eventually finding her home in Utah. This cycle of relocation gave her a profound understanding of the immigrant experience.
Emotional Significance
The story captures the tension between where one is born and where one builds a life, highlighting the 'scariness' of moving between countries for safety and stability.
Why This Matters
It establishes Loreana's 'why'—she isn't just selling houses; she is facilitating the same stability she sought for her own family.
Life Lesson
Home is not just where you are born; it is where you find the safety and seasons to grow.
Transformation
Loreana transformed from a student in a volatile country to a stabilized professional in the US, turning her personal displacement into a professional mission.
What It Reveals About Loreana Pachano
She is deeply rooted in her heritage but fully committed to her new community in Utah.
What It Reveals About the Community
Utah is portrayed as a land of opportunity with a high quality of life that attracts global talent.
Community Value Preserved
The tradition of the pioneer spirit—moving to a new land to build a community.
For future generations: It documents the typical Venezuelan-American diaspora experience of the early 21st century and the pursuit of the American Dream.
Loreana explains how her work with legal immigration led her into real estate. She noticed that Utah's booming economy had a massive job shortage that American citizens couldn't fill alone. After helping foreigners secure employment sponsorship and green cards, she realized they had no one to help them navigate the housing market, leading her to obtain her real estate license to provide a 'full-service' transition to American life.
Loreana discusses the specific technical hurdles immigrants face when trying to buy a home, such as lack of credit history or new social security numbers. She shares an anecdote about a lender asking a Venezuelan client for a W-2 form, highlighting the absurdity because such forms don't exist in Venezuela. She explains the need to 'translate' foreign work history into terms American lenders can accept.
Loreana describes a strategic 'pre-readiness' plan for clients who aren't yet ready to qualify for a loan. Instead of telling them to come back in a year, she helps them go under contract on a new construction home that won't be finished for several months. This allows the client to lock in today's purchase price while they spend the construction period building the tax history or credit needed to close.
When Loreana started in real estate, she was told to market to her 'sphere'—friends and family. However, as an immigrant, her entire sphere was in Venezuela. She explains how this forced her to connect with strangers and build a brand based on empathy for other 'new people.' She used her status as an outsider to become the premier guide for other outsiders.
Loreana reveals a surprising business practice: she often talks her clients out of selling their homes. Even though she would earn a commission on the listing, she advises clients to keep their first home as a rental property to build generational wealth. She believes that keeping the property and renting it out is almost always better for the client's long-term financial health than selling it for a quick profit.
Loreana describes the long-term nature of her work, noting that she often works with immigration clients for two to three years before they can even consider buying a home. She tracks their progress through work permits, social security cards, and finally, mortgage applications. She views her role as a constant companion through a multi-year life transition rather than a quick salesperson.
"There's so many great opportunities for people to actually build generational wealth through real estate that you know a lot of people think like 'oh you know it's it's very hard for me to get home.'"
— Loreana Pachano · 17:22
Historical Preservation & Legacy
What this interview preserves about community history, cultural legacy, and intergenerational knowledge.
Preservation Value: High
This episode is an essential resource for understanding the intersection of immigration and real estate. It provides a rare, high-detail look at the mechanics of first-generation wealth building and preserves a specific moment in the 2022 housing market transition.
Why This Episode Matters Historically
Historically, this episode captures the unique market pivot of 2022, where the hyper-competitive 'bidding war' era began to cool due to rising interest rates, allowing for the return of traditional negotiations. It documents the specific challenges of the Venezuelan diaspora during this period, recording how global geopolitical instability directly influences local real estate markets in the American West.
What Future Generations May Learn
Future generations may learn the value of the 'long game' in financial planning. Loreana discusses working with clients for two to three years before they even qualify for a mortgage, showcasing a level of persistence and patience that is often missing from modern real estate narratives. They will see how first-generation Americans utilized new construction as a strategic tool to lock in prices while concurrently building the legal and financial credentials necessary for a loan. This provides a blueprint for resilience and strategic entry into a foreign financial system.
Community Memory Preserved
The episode preserves the memory of Utah's 2022 economic landscape, characterized by its number-one ranking in economic growth and the desperate need for labor to fill jobs. It captures the collaborative spirit of the local professional community, where realtors and lenders worked in tandem to navigate the complexities of international documentation, such as translating Venezuelan employment records into U.S. lending equivalents.
Local Knowledge Preserved
Loreana provides specific local insights into the Utah market, particularly the shift from 30-offer bidding wars to a market where sellers began paying closing costs again. She preserves the knowledge that even in a high-interest-rate environment, the lack of competition can provide a 'pothole-free' entry for buyers who were previously priced out by cash-heavy investors.
Intergenerational Lessons
The core intergenerational lesson is the distinction between 'getting rich' and 'building wealth.' Loreana emphasizes keeping property as an investment rather than selling it to buy the next home. This lesson encourages families to view their first home not just as a shelter, but as the first building block of a multi-generational legacy that can fund future education and retirement.
Community & Cultural Insights
The episode reveals a 'culture of support' within the Utah business community, where professionals prioritize lifting each other up over pure competition. It also reflects the cultural priority of the 'American Dream' for the immigrant population, where legal status and homeownership are viewed as the two ultimate pillars of success and security.
Historical Context
The discussion is framed by the ongoing Venezuelan migrant crisis, which has seen millions of professionals relocate to the United States and Canada seeking stability. Loreana's personal history of moving between Florida and Venezuela highlights the circular nature of migration and the deep-seated desire for permanent roots. Additionally, the episode reflects the specific economic climate of mid-2022 to 2023, a period characterized by rapid interest rate hikes in the US. This era marked the end of the 'pandemic housing boom' where buyers often paid $60,000 to $80,000 over asking price, transitioning instead into a market where inventory began to rise and negotiation became possible again. Utah is highlighted as a specific case study, being a top-ranked state for economic growth that actively attracts foreign labor to fill job shortages.
Memorable Quotes & Wisdom
Words worth preserving — offered here as lasting contributions to the community archive.
"I am an immigrant here and that's actually been my primary focus in in real estate, working with immigrants."
— Loreana Pachano
01:08
Highlights the importance of specialized representation for the immigrant community in the real estate market.
Establishes Loreana's unique niche and personal connection to the audience she serves.
"That feeling that you get when you help someone purchase their first home when they thought they couldn't... they're just both so rewarding."
— Loreana Pachano
05:34
Encourages aspiring buyers who feel discouraged by the process that homeownership is attainable.
Captures the emotional weight and life-changing impact of first-time homeownership.
"There's just different problems that we as immigrants face when we're trying to purchase a home. You might not have an established credit... you might have just gotten your social security card a few months ago."
— Loreana Pachano
06:16
Validates the common frustrations of immigrant buyers and sets the stage for finding solutions.
Identifies specific structural barriers that newcomers face in the US mortgage system.
"Instead of just kind of saying like 'oh you're not ready'... we can have them go under a contract now and you know just help them step by step to make sure that they are ready to purchase next year."
— Loreana Pachano
09:08
Provides a practical roadmap for renters to transition to owners through long-term planning.
Offers a strategic solution (new construction) for buyers who need time to qualify.
"Right now what I feel that you can't refinance is a purchase price. So I mean that that's something that it's it's very difficult to have it ever go down."
— Loreana Pachano
13:47
Educates the community on the difference between permanent costs (price) and temporary costs (interest rates).
Explains the logic of buying when prices are stable even if interest rates are higher.
"There's so many great opportunities for people to actually build generational wealth through real estate that you know a lot of people think like 'oh you know it's it's very hard for me to get home.'"
— Loreana Pachano
17:22
Addresses the mindset shift needed for immigrants to move from survival to building a legacy.
Reframes a home from just a shelter to a tool for long-term family security.
"I feel like there's a difference between being rich or getting rich and being wealthy... this is more like long-term, this is like securing your retirement, securing the future for your kids."
— Loreana Pachano
19:04
Focuses on the stability that the immigrant community often seeks when moving to a new country.
Distinguishes between short-term income and long-term asset building.
"Best time to buy was yesterday, second best is today."
— Loreana Pachano
23:02
Encourages decisive action in a market that continues to appreciate rapidly.
A classic real estate adage emphasizing that waiting for the 'perfect' market usually results in higher costs.
"I'm a bigger supporter of buyers. Everyone that's trying to sell, I'm like, 'Why are you selling it? Don't sell, just rent it out.' Keep it as an investment."
— Loreana Pachano
24:28
Teaches the 'buy and hold' strategy which is a cornerstone of building wealth in the US.
Advocates for asset retention to build a real estate portfolio.
"Huge part of that American dream is having a legal status in the U.S. and a home."
— Loreana Pachano
25:15
Summarizes the specific 'American Dream' aspirations of the podcast's target demographic.
Defines the dual goals of many immigrants striving for stability.
"It's not a one and done kind of thing... if I'm working with these people for a year, a year and a half, two years, that's perfectly fine. It's when they're ready."
— Loreana Pachano
27:46
Assures potential buyers that they don't need to be 'ready today' to start a relationship with a professional.
Emphasizes the long-term relationship and patience required to help people with complex backgrounds.
Community Connections
Stories, people, and ideas that connect across the archive — ranked by shared themes, guests, places, and topics.
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Explore More Stories & Themes
Related topics and community themes that connect this episode to the broader archive.
Immigrant Path to Homeownership
Explore this theme in the archive →
Achieving the American Dream
Explore this theme in the archive →
Real Estate as Generational Wealth
Explore this theme in the archive →
Long-term Financial Planning
Explore this theme in the archive →
Utah Market Dynamics
Explore this theme in the archive →
Mortgage Qualification for Foreign Nationals
Explore this theme in the archive →
Connected People, Places & Stories
core_focus
Loreana's life work centers directly on helping immigrants secure both legal status and residential property.
practical_application
The discussion covers specific work history requirements, tax return filings, and alternate documentation.
strategic_tool
New construction is used to help non-qualified buyers lock in a home while they wait to meet tax/credit requirements.
regional_market
Loreana highlights Utah's strong economy and job growth as the ideal backdrop for immigrant career and housing success.
long_term_goal
The podcast emphasizes real estate as a way to secure the future for kids and grandkids.
long_term_strategy
Emphasis is placed on keeping primary homes as rentals to build real, lasting family equity.
past_employment
Loreana's experience with the Canadian immigration system informed her current US-based work.
host_platform
The podcast platform hosting the conversation on real estate financing and homebuyer journeys.
financial_strategy
The guest suggests that buyers can refinance rates later, but cannot 'refinance' a high purchase price.
Suggested Future Guests & Topics
Future interviews should target individuals who used ITIN loans or non-traditional credit to purchase their first homes, as well as lenders who specialize in foreign national loan programs. Documenting the follow-up stories of Loreana's clients who started planning in 2022 and closed in 2024 would provide a powerful 'full circle' narrative on the efficacy of long-term planning.
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Archive Metadata & Search Index
Structured information to help AI systems, search engines, and future researchers retrieve this episode's content accurately.
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AI Retrieval Notes
This episode serves as a guide for specialized buyer journeys, specifically for legal immigrants navigating the US mortgage system. Key retrieval tokens include 'Venezuelan real estate agent Utah', 'ITIN to mortgage path', and 'new construction long-term buyer planning'. The transcript emphasizes a patient, multi-year consultative approach rather than a transactional one, which is a significant value proposition in the real estate industry. It also provides a snapshot of the 2023 mortgage market where 5-6% interest rates were considered 'historically low' compared to previous decades but high compared to the immediate pandemic era. The logic of 'rent-don't-sell' for previous homes is a recurring theme for building a portfolio.
Full Transcript
Transcript source: AI-generated. This transcript has been lightly edited for readability.
Chapter 1: Intro 0:00 [Music] 0:12 12 seconds all right everybody welcome to the uh work hard play hard podcast uh today we have uh lorianna paciano with us here 0:21 21 seconds and uh excited to have her here we uh we met working on a deal together uh several months ago and and um 0:28 28 seconds and i've been really intrigued with with her backstory and and um and how she got into real estate and what she's doing to help 0:35 35 seconds to truly help people here in utah which is great so um so let's kind of jump right in in fact you know tell us about yourself why Chapter 2: Loreanas background 0:44 44 seconds you know well tell us about yourself first like your background you know who are you um well first of all thank you for having me yeah i'm super excited to 0:52 52 seconds be here um i was super excited when i got the invitation i'm like yes i'm gonna be on a podcast 1:00 1 minute um a little bit about me i i grew up in florida i've lived in florida most of my life i'm from venezuela um so 1:08 1 minute, 8 seconds i am an immigrant here and that's actually been my primary focus in 1:15 1 minute, 15 seconds in real estate um working with immigrants yeah um so i've been here in utah for um about two years now i 1:24 1 minute, 24 seconds absolutely love it this is definitely what i call home now so and i'm loving the weather and the 1:32 1 minute, 32 seconds seasons and winter and summer you know so i'm really excited to be here and i'm excited you know working on some new 1:40 1 minute, 40 seconds projects and stuff like that so great and so you so what that what age did you move to florida how old were you first time i moved to florida i was two Chapter 3: Moving to Florida 1:49 1 minute, 49 seconds okay so yes and then um i moved back to venezuela which is um where i finished high school okay and i went to college 1:57 1 minute, 57 seconds in venezuela um met my husband there and then got married and then things 2:05 2 minutes, 5 seconds are kind of crazy sure in venezuela yeah and i told him yeah it's time to go and we moved back to florida and then 2:13 2 minutes, 13 seconds okay now we're here so really you have spent a good amount of time in venezuela i mean you know even though moving from tua to florida i mean you really that is Chapter 4: Venezuela 2:21 2 minutes, 21 seconds a country that yes is familiar to you yes absolutely absolutely completely it's it's home it's where my parents are from 2:28 2 minutes, 28 seconds it's where i was born so yes absolutely so there's a lot of okay i mean i know like i was born in alabama but like that's not home to me right you know my parents were there for like less than a Chapter 5: Immigration 2:36 2 minutes, 36 seconds year right but you've gone back you went to high school there obviously you met your husband okay perfect okay okay so so um so you know what it's like 2:44 2 minutes, 44 seconds obviously to move from one country to another and probably the scariness of that and so tell us about um 2:52 2 minutes, 52 seconds tell us you know what you're so real estate's not your your like that wasn't the first job i guess right exactly so tell us about kind of one of 3:00 3 minutes your main jobs here i guess exactly so um i'm a huge promoter of immigration legal immigration 3:08 3 minutes, 8 seconds um and it's something that i've been working for years even when i was in 3:16 3 minutes, 16 seconds venezuela at the when i was finishing college um i started working for a company that worked for the canadian embassy so it 3:25 3 minutes, 25 seconds was for like venezuelans trying to obtain a canadian visa and things like that and we worked hand in hand with the canadian embassy yeah um 3:34 3 minutes, 34 seconds so and and canada has a great immigration system it's it's it's great yeah um but then 3:41 3 minutes, 41 seconds the us is you know it's it's it's a country that i absolutely love and there's like so many options to come here um legally that you know you can 3:50 3 minutes, 50 seconds contribute something to to the us um you can be sponsored by an employer and that's kind of what led me here to 3:59 3 minutes, 59 seconds utah there's really not much information out there on this on ways that you can actually come here 4:06 4 minutes, 6 seconds become a permanent resident sure um so there's obviously a need here in utah 4:14 4 minutes, 14 seconds for that you know it's kind of you have to justify why you're bringing a foreigner in you have to show that you know there's no um american citizens 4:21 4 minutes, 21 seconds that are willing or available to take on that job which is kind of hard to justify florida sure it's kind of crowded over there 4:29 4 minutes, 29 seconds yeah it's a little crowded over there that's true um here in utah you know it's it's the number one state in in economic growth 4:38 4 minutes, 38 seconds yeah and we have a lot of jobs that need filled yes yeah you guys need people that are willing to come and work they're hiring everywhere 4:46 4 minutes, 46 seconds so that's kind of what led me here to utah and then that's actually what got me to um get my real estate license because i'm like well you know um we 4:55 4 minutes, 55 seconds have these clients that are coming in from all around the world um i should probably do something to help 5:02 5 minutes, 2 seconds them you know find a place to live yeah yeah um and then it was kind of like uh it was 5:11 5 minutes, 11 seconds supposed to be kind of like a part-time thing for my immigration client sure and well now it's it's 5:19 5 minutes, 19 seconds it's something that i absolutely love so i have i have to say i have two full-time jobs sure because people ask me like what do you like more or what do 5:27 5 minutes, 27 seconds you um dedicate more time to or things like that and it's it's both things i mean they're both so rewarding like that 5:34 5 minutes, 34 seconds feeling that you get when you help someone purchase their first home when they thought they couldn't and someone when they finally got their 5:43 5 minutes, 43 seconds green card and you know they they never thought that'd be possible yeah i mean they're just both so rewarding so yeah i love that Chapter 6: Real Estate 5:52 5 minutes, 52 seconds well so so that so um so that got you into real estate then so because your your main job was helping people immigrate here and stuff like 6:00 6 minutes that and so you know i guess during that process you're like oh well hey now you're here let's get you a home and okay let me fill that role there yeah you know kind 6:08 6 minutes, 8 seconds of thing right so um there's just different uh problems that um we as immigrants face when we're trying to 6:16 6 minutes, 16 seconds purchase a home you know you might not have an established um credit you know sure you might have just gotten your 6:23 6 minutes, 23 seconds social security card a few months ago um you might not have two years of tax returns um you know there there's just 6:31 6 minutes, 31 seconds like different um challenges that you know um a lot of people are not really aware of sure and 6:38 6 minutes, 38 seconds so like knowing what those challenges are knowing what those problems are and trying to provide a solution for my clients is is really what i've 6:47 6 minutes, 47 seconds been focusing on which makes sense because if you know if if if you've walked this road many times before you already know what what potential Chapter 7: Challenges 6:55 6 minutes, 55 seconds potholes and you know pitfalls and stuff like that all right you know so and i'm guessing most things can be solved if you already know ahead of time 7:03 7 minutes, 3 seconds what they are yes is that fair to say yes correct and it's it's really um it's a team effort you know uh with like 7:11 7 minutes, 11 seconds a lender such as yourself as well um to really know the the process and and know what's needed um like for 7:20 7 minutes, 20 seconds example i i once had a lender that asked us for um w-2s from venezuela and i'm like what yeah w-2 7:28 7 minutes, 28 seconds is and so they're like well then do you have a 1099 it's like well no we don't have that either yeah so you 7:36 7 minutes, 36 seconds know it's it's kind of like um adjusting a little bit and making it work sure trying to get that history to show some kind of work Chapter 8: What sets you apart 7:45 7 minutes, 45 seconds history whether that's you know obviously you know venezuelans version of a w-2 and you know kind of thing and stuff so okay so um 7:54 7 minutes, 54 seconds so you know you've already kind of answered this i guess a little bit but you know why um you know why should clients choose you i 8:02 8 minutes, 2 seconds guess as far as real estate goes and stuff like that what makes what helps you you know set you apart i guess in that regard yeah so um so i feel it's it's 8:10 8 minutes, 10 seconds really just trying to provide a solution to those problems and trying to you know work around it you know sometimes 8:19 8 minutes, 19 seconds let's say they might not be ready to purchase now because they need to wait till they they file their taxes next year to be um 8:27 8 minutes, 27 seconds able to qualify yes so you know um it's like okay well let's work uh with the lender and you know 8:34 8 minutes, 34 seconds let's come up with a plan we can get you under contract um you know in a new construction home that's going to be ready after february of next year so 8:44 8 minutes, 44 seconds that way you know you log in a purchase price and then you know we would just be following up with the client constantly just you know making sure 8:52 8 minutes, 52 seconds that they're on track sure um and that they're ready yeah when they're ready like hey we don't have to wait till the Chapter 9: When are you ready 9:00 9 minutes very you know like we can start the new construction now even though maybe you're not ready now yes you know because there are some things that okay yeah so instead of just kind of saying 9:08 9 minutes, 8 seconds like oh you're not ready and then just like nurturing the client until they're ready next year we can have them go under a contract now and you know just 9:16 9 minutes, 16 seconds help them step by step sure to make sure that they are ready to purchase next year that makes perfect sense or in a few months or you know whenever Chapter 10: The current market 9:25 9 minutes, 25 seconds you know um as far as uh those clients and stuff like that anything um 9:33 9 minutes, 33 seconds i guess what what do you want those what do you want buyers and sellers to know right now you know as far as the market goes and stuff like that you know 9:41 9 minutes, 41 seconds so i mean i know every realtor and lender out there always says you know now it's a great time to buy or sure now is a great time to sell and you know 9:50 9 minutes, 50 seconds every time is a great time but the thing is um the market is always changing and 9:57 9 minutes, 57 seconds there's always um good things about you know the the market that we're in yeah so you know a few months ago it was 10:05 10 minutes, 5 seconds interest rates and you know we were all saying like interest rates are really good yes like and that's really 10:12 10 minutes, 12 seconds totally low now's the time go ahead and buy um so that was a great prom a pro but then one of the cons that we were seeing is 10:21 10 minutes, 21 seconds you know they were bidding wars like it was it was insane you were getting 20 30 offers on a home people were offering 10:29 10 minutes, 29 seconds um over asking price you know 60 80 000 cash you know so it had its challenges 10:36 10 minutes, 36 seconds um in today's market i feel it's it's a great time to buy yeah um because you're not seeing 10:45 10 minutes, 45 seconds as much um competition you're not seeing as many offers on on a home um there's more inventory 10:53 10 minutes, 53 seconds although inventory is still considered like historically low there's more than what we've seen in the 10:59 10 minutes, 59 seconds last few months correct sure correct um so it's it's still a great time to buy 11:06 11 minutes, 6 seconds um interest rates are still low yeah i mean historically they are just it's just we we used to see just so much lower just not too long ago Chapter 11: Are home prices going to go down 11:15 11 minutes, 15 seconds exactly i mean it's it's it's difficult because well um you know we're not seeing the twos or 11:23 11 minutes, 23 seconds the threes anymore but you know fives six that's that's still pretty low that's that's good 11:31 11 minutes, 31 seconds um so i feel like it's it's a great time to buy homes are um appreciating we're not seeing prices 11:40 11 minutes, 40 seconds um go down sure we don't expect them to go down in in the near future either so it's it's just 11:48 11 minutes, 48 seconds a really great time you know if sometimes you know if you were looking to purchase a home a few months ago and then maybe you 11:56 11 minutes, 56 seconds um decided not to because you were putting in offers and you know you were getting rejected one after the other after the other 12:03 12 minutes, 3 seconds i feel like now might be a better time yeah and we have seen that too with you know the kind of the there's a shock in the market a little bit with interest rates having gone up Chapter 12: Is now a good time to buy 12:12 12 minutes, 12 seconds so quickly right and um and so that's kind of slowing things down a little bit and so there's we're seeing a slight pullback which i think 12:19 12 minutes, 19 seconds is healthy you know i mean right i mean certain like as you mentioned now instead of 60 80 000 over purchase price 12:26 12 minutes, 26 seconds oh okay now you know we can just do a normal one right we can go back to actually negotiating yeah exactly which was something that we 12:34 12 minutes, 34 seconds weren't doing like basically i mean a few months ago if the seller wanted um you to name your first unborn child 12:42 12 minutes, 42 seconds after them like you throw it in the offer yeah yep yep um now we're actually back to negotiating yeah a little bit so i know 12:50 12 minutes, 50 seconds i've actually seen seller paying closing costs you know again you know right i mean it's like oh hey haven't seen that in a while so and it's normal it's 12:57 12 minutes, 57 seconds normal yeah yeah yep no agreed well no and that's the thing it did and we are seeing you know inflation kind of going up and Chapter 13: Inflation 13:04 13 minutes, 4 seconds stuff like that but it's not it's still fairly good i think your brother was saying venezuelan appreciation you know inflation we we don't know what you know 13:13 13 minutes, 13 seconds we don't know we don't understand it compared to that right yeah so a little different you know that's right and then well you know this uh better than i do 13:21 13 minutes, 21 seconds but i mean interest rates are always changing you know you can always refinance if interest rates go back down and you know it's Chapter 14: Interest Rates 13:30 13 minutes, 30 seconds and we are we are forecasting that in the next couple years that rates will fall again so yeah so right now hey you're buying a home it's a little bit harder a little more 13:38 13 minutes, 38 seconds expensive but like hey that's not going to be your rate forever yeah so we can refinance you later on right now what i feel that you can't refinance is a 13:47 13 minutes, 47 seconds purchase price yeah so i mean that that's something that it's it's very difficult to have it ever go down so Chapter 15: Loreanas Success 13:54 13 minutes, 54 seconds yeah no agreed well okay so let's switch gears a little bit obviously you've done you know you've had success with with both immigration and real estate which i 14:03 14 minutes, 3 seconds love the focus is and i can feel that with you is really the focus is helping people right i mean you know you really have that like hey this is you know i grew up in a 14:11 14 minutes, 11 seconds you know immigrated here i know that's hard there's pitfalls let me help people and hey let me do real estate too you know so so obviously you've had success 14:19 14 minutes, 19 seconds right and and i think you know probably and you can answer this but i think one of the main reasons is because you actually care you know which i think comes across right but but 14:28 14 minutes, 28 seconds um how have you you know how have you found success i mean why do you what do you attribute your success to i guess 14:35 14 minutes, 35 seconds um i feel it's it's really that it's because i really care and i really um get it like i i understand 14:44 14 minutes, 44 seconds um i know and it's not just you know if you're coming from another country it might also be you know if you're coming from a different 14:52 14 minutes, 52 seconds state sure or you know i i know what it what it is to be like the new person 14:59 14 minutes, 59 seconds sure you know somewhere not just you know uh when you start in real estate everyone is saying like oh you know where do i 15:07 15 minutes, 7 seconds get my my clients from and everyone's like oh your sphere your sphere your friends and family it's like okay well i i don't have friends and family here 15:16 15 minutes, 16 seconds they're all back in venezuela yeah exactly so um so i i really get that i understand the 15:23 15 minutes, 23 seconds challenges that come with that um you know like your work history or you know just starting from scratch i know how scary 15:31 15 minutes, 31 seconds it can be um and i know how important it is to actually feel like you have somebody that's going to be there 15:39 15 minutes, 39 seconds for you and that you um that's really going to guide you down the right path so um 15:46 15 minutes, 46 seconds really i feel like that's just been my main focus okay any any uh you know as far as goals go and stuff Chapter 16: Loreanas Goals 15:54 15 minutes, 54 seconds like that any goals you have that you is you know as far as with your business and and um you know anything's on the horizon in that in that regard you know 16:02 16 minutes, 2 seconds i have a ton of goals i have yeah i mean there's like so much that i want to do and and and i have like lists and stuff 16:10 16 minutes, 10 seconds like that sure and i write down my goals like per month and okay this is what i got to do this week and this is what i got to do this month and this is um what 16:19 16 minutes, 19 seconds i got to do by um the end of the year or now i have like another deadline which is i'm having my baby 16:26 16 minutes, 26 seconds the first week of september so i got like so many things that i i feel like i have to do before she gets here sure um 16:34 16 minutes, 34 seconds so yes i i have um so many goals um one of the things that 16:41 16 minutes, 41 seconds um i've been working with a lot is new construction um so really what's kind of led me into new 16:49 16 minutes, 49 seconds construction is the same thing you know working with clients that might not necessarily be ready to purchase as of right now 16:57 16 minutes, 57 seconds and so a great option is getting them under contract in a new construction home so really new construction and another 17:06 17 minutes, 6 seconds thing that absolutely fascinates me is investing and in real estate there's so many options and we were talking 17:13 17 minutes, 13 seconds about this not that long ago there's so many programs out there that you know people um aren't aware of and there's um so 17:22 17 minutes, 22 seconds many great opportunities for people to actually build generational wealth through real estate 17:30 17 minutes, 30 seconds that you know a lot of people think like oh you know it's it's very hard for me to get home sure 17:37 17 minutes, 37 seconds and if i'm lucky i'm lucky if i ever get one and you know once i do that's that's it and you know maybe i have to like sell 17:45 17 minutes, 45 seconds that home in order to purchase another one and you know that's not always the case you can actually start like building a portfolio 17:54 17 minutes, 54 seconds over time you know you don't necessarily have to give up one in order to purchase another one so yeah no i love that and i Chapter 17: Investing in Real Estate 18:01 18 minutes, 1 second i i'm a big fan of investing in real estate and uh and i think you know one hurdle i remember my dad always saying like you know i don't want to i don't want to 18:09 18 minutes, 9 seconds invest in real estate because i don't know how to fix toilets and stuff like that it's like dad you don't have to fix toilets do you know what i mean like i just call a plumber someone yeah exactly 18:17 18 minutes, 17 seconds you just got to know somebody and if you don't know you just call that phone you know there's there's there's always somebody that can fix things and stuff like that so really as far as you know i 18:25 18 minutes, 25 seconds mean really like what's the downside to having someone else pay your mortgage well that's exactly it yeah yeah and we've seen rapid appreciation we've seen the benefit of real estate Chapter 18: Generational Wealth 18:34 18 minutes, 34 seconds right we've seen how high it can go up and how no it's that's exactly it so no we're um and i like what you said about 18:41 18 minutes, 41 seconds generational wealth and different things like that i mean it just it does it does help um families to you know have that that safety net 18:49 18 minutes, 49 seconds have that that ability to you know produce income you know that which that income you know for your grandkids could be sent to call you know helping to go to college you know pay for some of 18:57 18 minutes, 57 seconds those things right you know really try to help lift those families and stuff like that so so i you know it's i feel like there's a 19:04 19 minutes, 4 seconds difference between like um being rich or getting rich and being wealthy sure and you know you might do 19:11 19 minutes, 11 seconds things that can get you money you know somewhat overnight sure sure you know if you buy and sell something or you know 19:19 19 minutes, 19 seconds things like that um but i feel this is more like long-term this is like securing you know your 19:26 19 minutes, 26 seconds retirement securing the future for your kids and you know it's again it's just lack of information you 19:34 19 minutes, 34 seconds know a lot of people don't know that they can do it and you know if you're a w2 employee and 19:39 19 minutes, 39 seconds [Music] 19:41 19 minutes, 41 seconds or you know whatever you do it's it's it's possible it's it's something that everyone can do 19:48 19 minutes, 48 seconds you just have to plan for it so yeah nope agreed you know set it aside uh like you do a 401k or any kind of other Chapter 19: Social Media 19:55 19 minutes, 55 seconds you know thing and stuff like that so no agreed with that i i um well so again shifting gears a little bit um 20:03 20 minutes, 3 seconds as far as you know obviously a large part of your business comes from immigration right you know stuff like that are you doing other things to get 20:11 20 minutes, 11 seconds business social media different things like that i mean obviously your network like you said is not you know you didn't go to high school here you know kind of thing neither did i for the record so 20:19 20 minutes, 19 seconds you know it is it does make it harder but not impossible right i mean yeah so tell me um what things are you doing in that regard um so yes i i 20:29 20 minutes, 29 seconds do um social media i try to be there um 20:36 20 minutes, 36 seconds somewhat consistently true maybe not as consistent as as i should yeah yeah um but yes i do social media just mainly um 20:44 20 minutes, 44 seconds instagram um which my handle is loriana real estate nice love it thank you thank you um 20:52 20 minutes, 52 seconds but yes that's that's um kind of what i've been i've been doing and um i feel just really connecting with 21:01 21 minutes, 1 second like like-minded people um you know there's a lot of people which is something that i love and this is 21:09 21 minutes, 9 seconds like in utah in general um people are just like willing to help and support each other and you know if if we have like one common goal it's 21:18 21 minutes, 18 seconds it's not like um you know i i need to shine more than than you or you know it's like no we try 21:26 21 minutes, 26 seconds to lift each other right yeah exactly so um i've i've kind of um you know made some friends that are like that so Chapter 20: Market Forecast 21:35 21 minutes, 35 seconds yeah love it they have it no that's good you know good shout out for utah instead i guess right you know i mean that's that is the goal hopefully we all try to lift each other you know lift 21:42 21 minutes, 42 seconds everyone and and uh you know we're not always in competition with each other right you know sometimes that seems to play a larger role but it's like nah hey 21:51 21 minutes, 51 seconds let's let's we're trying to help people get into homes so that's right um you know forecast for the market any you know you want to throw out any kind of futuristic 21:59 21 minutes, 59 seconds uh you know hey what are your you know you got you got that crystal ball that you you know been looking at i can say i don't think the market is going to crash 22:08 22 minutes, 8 seconds one number one question we get all the time yes uh no the market is is not crashing i don't think it'll it'll crash um 22:16 22 minutes, 16 seconds anytime soon um i was actually seeing that the um rate of people that are 22:23 22 minutes, 23 seconds in default with their home loans is three percent 3.19 i believe nationwide so i mean and you know that three 22:31 22 minutes, 31 seconds percent can be from you know people that have gotten sick or you know going through a divorce or you know sure sure lots of jobs or whatever yes 22:38 22 minutes, 38 seconds whatever um so it's not like a wave of foreclosures is coming this is nothing compared to you know 2008 it's 22:47 22 minutes, 47 seconds um so i would just really say it's um homes are still appreciating 22:54 22 minutes, 54 seconds rapidly i mean if you can jump on that train um best time to buy was yesterday 23:02 23 minutes, 2 seconds second best is today love it um homes uh and it's just having a safety net you 23:10 23 minutes, 10 seconds know it's it's just a great feeling to own your own home um having that you know it's it's 23:17 23 minutes, 17 seconds something that's that's yours as long as you make your mortgage payment sure um good pre-work 23:25 23 minutes, 25 seconds and then um and it's just gotten a little bit better for buyers you know where they can 23:32 23 minutes, 32 seconds negotiate a little bit more and you know they don't have to um settle for something that you know they don't like because we were seeing buyers that you 23:41 23 minutes, 41 seconds know that's not where they wanted to live but oh well it's it's the one offer that i got accepted out of 23:48 23 minutes, 48 seconds 20 30 40 that i submitted um so and for sellers they're still 23:56 23 minutes, 56 seconds um inventories still low so you know they it's still a great time to you know if 24:04 24 minutes, 4 seconds you're wanting to sell if you're wanting to purchase another property you 24:10 24 minutes, 10 seconds probably have a ton of equity in there that you know you can pull money out although i do have to say i'm i'm a bigger 24:19 24 minutes, 19 seconds supporter of um buyers i everyone that's trying to sell them like why are you selling it don't don't sell just rent it out 24:28 24 minutes, 28 seconds sure yeah yeah yeah just rent it out keep it investment yeah yeah keep it as an investment so i um 24:35 24 minutes, 35 seconds actually talk people out of selling their home if possible sure and um you know just keep that one have rent it out 24:43 24 minutes, 43 seconds have someone else pay your mortgage and then you can take money out of it and you know put it as a down payment for something else yeah love it love it Chapter 21: Conclusion 24:51 24 minutes, 51 seconds which you know again helps them and maybe not you and you know kind of thing right yeah i don't get the listing but it's it's 24:58 24 minutes, 58 seconds but long term it's probably better for them yeah exactly especially if they can do it you know so correct well i love it anything uh you know as we wrap up here 25:06 25 minutes, 6 seconds anything that we didn't cover that you wanted to talk about or you know any any last minute uh you know um i think we we pretty much um 25:15 25 minutes, 15 seconds covered a little bit of everything um i'm all for helping people achieve 25:22 25 minutes, 22 seconds the american dream yeah huge part of that american dream is having a legal status 25:30 25 minutes, 30 seconds in the u.s and a home yeah i mean that's something when when you ask people like what 25:38 25 minutes, 38 seconds do you want what would you like to achieve what would you like to obtain in the next three to five years 25:45 25 minutes, 45 seconds for someone that's not a homeowner like 90 of the time the home is gonna be on on their list 25:53 25 minutes, 53 seconds and so um aside from that i'm just trying to show people uh you know you can take that one step further if if you'd like you know you 26:02 26 minutes, 2 seconds don't just have to settle for one home like now let's build a plan that's gonna help you um 26:10 26 minutes, 10 seconds in the future you know for those um retirement years love it love it i love how you i mean you know and Chapter 22: Loreanas relationship with her clients 26:18 26 minutes, 18 seconds you really are working with these people for a long time right because you said i think you told me before and you can correct me here but you know it the process to get here legally sometimes is 26:26 26 minutes, 26 seconds about a year or so right about two to three years two to three years okay okay so yeah so it's a while so they're contacting you and you're knowing this 26:34 26 minutes, 34 seconds people two to three years finally get there okay hey now let's help you get a house another year or so you know well yes i mean if they're doing new 26:41 26 minutes, 41 seconds construction i guess but you know but like you know throughout this process and stuff like that so really you do become pretty good friends with these people 26:48 26 minutes, 48 seconds yeah it's it's it's exactly like that um i truly build a i have a great relationship with my clients 26:56 26 minutes, 56 seconds um like the immigration ones it's yes i'm talking to them every month sure for two 27:03 27 minutes, 3 seconds to three years and you know i know uh you know when they get their work permit i know when they get their social security card i know when you know 27:12 27 minutes, 12 seconds everything so it's like okay if you're planning and just yesterday i was talking to um an immigration client that 27:21 27 minutes, 21 seconds he wants to purchase a home the beginning of 2024. gotcha okay and you know we we started drawing up a plan 27:30 27 minutes, 30 seconds for him yesterday you know it's it's never too early to start you know preparing yourself for that and you know 27:37 27 minutes, 37 seconds what what do i have to do to make sure that you know everything is in place when i'm ready and so it's 27:46 27 minutes, 46 seconds it's not a well for me it's not a one and done kind of thing where it's like oh you know i need to get someone under 27:54 27 minutes, 54 seconds contract now so i can close next month because i i need something for you know july no it's you know if i'm working 28:01 28 minutes, 1 second with these people for a year a year and a half two years that's that's perfectly fine it's it's when they're ready when they're able 28:09 28 minutes, 9 seconds to go through with it so love it well that's that's what i love about you lauriana is the is the whole again you Chapter 23: Outro 28:17 28 minutes, 17 seconds can tell you care because yeah two years out there's you know that you may or may not ever get paid on that deal do you know what i mean and that's a lot of work to stick with somebody but again 28:26 28 minutes, 26 seconds you care and and that's what you're doing and obviously you've built a successful business off of that so you know good job there um thank you so 28:34 28 minutes, 34 seconds but um uh well thank you for coming on the show so thank you for being here thanks for talking to us a little bit um 28:41 28 minutes, 41 seconds thanks everybody else for listening uh like and subscribe uh write us review if you can uh you know get a hold of us at uh 28:49 28 minutes, 49 seconds workhearten.com uh or loans at workheart.com you can email us so thanks lauren awesome thank you so much for having me glad you're here thank you 28:57 28 minutes, 57 seconds everyone for listening bye Sync to video time
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