Helping the Next Generation Buy Homes

Chapter 1: Welcome to the Show 0:000 secondsBuying a home is more than just a transaction. It's a journey. And for many, it can feel overwhelming, confusing, and even a little scary. But 0:088 secondshey, you're not alone. Welcome to From Rents to Roots: Home Ownership with Work Hard Mortgage, where we share real stories from real people who have 0:1717 secondsnavigated the home buying process. In each episode, we sit down with first-time home buyers, industry experts, and real estate professionals 0:2424 secondsto talk about the challenges, surprises, and lessons they've learned along the way. If you're dreaming of owning a home but don't know where to start, you're in 0:3232 secondsthe right place. Let's dive in. Welcome Melissa Williams to From Rents to Roots. We're excited to have you. Thank you. Thanks for having me. Chapter 2: Meet Missy and Jordan 0:4040 secondsAnd you also go by Missy, you said, right? Sure. All right. Yeah. To the public, your name's Missy. Sounds good. 0:4545 secondsWe got Jordan here, too, with us. Thanks for always here. 0:4747 secondsYou're always here. Yes. Whether we like it or not, it's you are here. Whether I bring good content. That's right. That's right. That's the question. Chapter 3: Utah Roots and RV Life 0:5353 secondsMelissa, are you from Utah? Where you from? 0:5656 secondsYep. Born and raised. I was born in Riverton. Okay. I live in Haramman now. I've been a couple different places. 1:031 minute, 3 secondsLived all over California in an RV for a few years. Oh, wow. Okay. 1:071 minute, 7 secondsAlso lived in Arkansas for a six-month stint and came right back home. 1:111 minute, 11 secondsOkay. What brought you to those other places for that period of time? 1:151 minute, 15 secondsWe went to Arkansas just because we bought a house. We built a house in 2005. Yeah. 1:211 minute, 21 seconds2006. We lived in it for 6 months and the market did really well at that time. 1:271 minute, 27 secondsYeah. But we had some debts and stuff we wanted to pay off. And so we're like, we can't really Everything else has gone up just as much. So, we can't really sell and buy again. 1:361 minute, 36 secondsOtherwise, we're not accomplishing our goals of paying our debts off. So, we sold and we moved to Arkansas, which is my husband has two brothers that live there. 1:451 minute, 45 secondsOkay. 1:451 minute, 45 secondsSo, that did not last long. Arkansas is not my jam. Just wasn't for you. 1:501 minute, 50 secondsNo, it was not for me. So, we moved back anyway. And then California, we lived on the road in our RV for a few years 1:581 minute, 58 secondsas a family of four cuz my husband did contract work for PG& out there. He does line. 2:062 minutes, 6 secondsYep. The lineman is linemen. Okay. Yeah. Okay. 2:082 minutes, 8 secondsYeah. So, we traveled as a family and that was great. 2:122 minutes, 12 secondsYeah. Yeah. It was quite the adventure, I'm sure. Right. Yes. 2:142 minutes, 14 secondsI mean to be So, pros and cons of being all under one roof, the small roof kind of thing, right? Corners at times. 2:212 minutes, 21 seconds40 feet. We lived in a fifth wheel toy hauler. Yeah. For a little over two and a half years. I homeschooled my kids. 2:272 minutes, 27 secondsI was going to say because we were moving sometimes every two to three weeks, sometimes two to three months, but 2:342 minutes, 34 secondswe weren't in a place where I could put them in a public school and I didn't want to. Some of the places we were seemed like English was a second 2:432 minutes, 43 secondslanguage type thing. And anyway, so it worked out great though. My kids loved it. How I got back into real estate. So, I've had my license for almost 20 years now. It'll be 20 years in November. Chapter 4: Finding Their Forever Home 2:542 minutes, 54 secondsI started in commercial real estate and in 2000 they had to let me go. Okay. 3:013 minutes, 1 secondBecause you know what happened, Nate. 3:033 minutes, 3 secondsSo, anyway, I started a photography company and that went really well for a while. But I got tired of being a single mom. 3:113 minutes, 11 secondsMy husband was in the apprenticeship to become a lineman. Okay. 3:143 minutes, 14 secondsAnd I was a single mom the better part of 5 years. Not single, but single. 3:193 minutes, 19 secondsYeah, exactly. Doing it alone essentially. 3:213 minutes, 21 secondsYeah, I was doing it alone. And so he had to end up in California. And I said, you know what? If that's where you're going to be, that's where we're going to be. That's awesome. That's awesome. 3:283 minutes, 28 secondsSo, we packed up, moved on the road, but then like halfway through my daughter being in sixth grade, I was like, we need to find a place. We need to find a foundation. Yeah. 3:383 minutes, 38 secondsThis is like a pivotal point in a kid's life. And so, I started looking online and I found the 3:453 minutes, 45 secondshouse that we're living in now. And I actually we didn't see it in person. I saw it a week before we closed on it and 3:523 minutes, 52 secondsmy husband saw it 2 days before we closed on it. Okay. 3:553 minutes, 55 secondsBut probably the very best investment we've ever made, honestly. That's awesome. 4:004 minutesWe've been in it. It'll be 14 years in November. And we paid We're on 2 acres in Herman. Oh wow. 4:084 minutes, 8 secondsSixbedroom, five-b house. We paid $439. 4:124 minutes, 12 secondsOkay. And we've done a lot to it, but I think we could sell for close to 1.4 1.5 now. Wow. 4:194 minutes, 19 secondsYeah. Good investment. 4:234 minutes, 23 secondsThat was So that was 2012 then that you bought? Yeah. 2013. 2013. Okay. Okay. 4:284 minutes, 28 secondsYeah. So yeah, 2012 was the I know this because that's when I timed the market too, but it not I say timed. I didn't do it on purpose. It just happened to get lucky. 4:364 minutes, 36 secondsThat is the low point. And then 13 and four, you know, so like went up from there. So So you timed it perfectly. 4:404 minutes, 40 secondsReally? Yeah, we did. And real estate is cyclical. So it we might be at a part where values are going to come back down 4:494 minutes, 49 secondsbecause they went crazy in 2021 22 and we got a lot of equity then. But yeah, 4:564 minutes, 56 secondsand I always say your equity is only you can only use it when you sell. You can take a home equity loan, but you're paying that back, too. 5:045 minutes, 4 secondsYeah. No, you're exactly right. You're exactly right. So, did your husband's job then come back to Utah then or or did you have to still be a single parent 5:125 minutes, 12 secondsfor a little while there or I was still a single parent for a little while, maybe a little less than a year, but he was able to get on with a company 5:195 minutes, 19 secondsthat was coming back to Utah and luckily Utah's been booming since then. So, he's had plenty of work then. 5:265 minutes, 26 secondsYeah. Okay. Yep. Good. Welcome back to Utah. Thanks. Yeah. Yeah. Her husband's super cool. Jordan's met the husband. Yeah. We got to go golfing. Chapter 5: Golfing Sidebar Stories 5:345 minutes, 34 secondsYes. Is he a good golfer? Yeah. Yes. He golf three times a week at least. 5:395 minutes, 39 secondsSo he should be good then. Yeah. He doing it that much. 5:425 minutes, 42 secondsI'm not going to lie. The first hole, we'll talk about this sidebar moment. 5:465 minutes, 46 secondsThe first hole I was not impressed. I was like, "Oh no." Yeah. His first T-shot was not good. 5:525 minutes, 52 secondsIn the bushes. And I was like, "Oh jeez, this is going to be a long day." Cuz I also suck at golf. I'll say I say also like I'm bad at golf. And then 6:006 minutesI hit the fairway and I was like, "Well, this is why you say your morning prayers." I was like, "Here we go. It's going to be a great day." And then every hole after that, it just flopped. And he was just perfect. And I was not perfect. 6:126 minutes, 12 secondsHe was He wasn't perfect, but he was pretty good. And you were with him at that time. 6:166 minutes, 16 secondsYeah, I was there, too. I was And she was striping it. 6:186 minutes, 18 secondsI was I'm off and on. Some are good, some are bad. That's just how golf goes for me. And I don't care cuz I'm like, I'm just here to have a good time. 6:256 minutes, 25 secondsWhen you're outside, you're enjoying Yeah. 6:266 minutes, 26 secondsShe has her bright pink balls. They were so easy to see. Yeah, they're cute. Perfect. 6:306 minutes, 30 secondsYou know what? I like that. It just makes it more fun, right? 6:346 minutes, 34 secondsIt did start with the ball and end the round with the same ball. 6:376 minutes, 37 secondsGood job, which happened. Okay, that's good. 6:406 minutes, 40 secondsDon't lose it. It did go off the beat path a bunch of times. Be the world. 6:456 minutes, 45 secondsYeah. So now we got to see where the world how it is. We had some music on what the 17th hole. Yeah. 6:526 minutes, 52 secondsThey were like building a house and they were playing Oh, it's like a mariachi band. So ch and that's where my ball went and just went over there. 7:007 minutesYeah. Good. happens. Anyways, let's get back. Good side. I like it. I like it. Good little sidebar. Chapter 6: Back to Real Estate 7:057 minutes, 5 secondsAll right. So, Missy, why did you come back to real estate then? So, you because commercial. 7:087 minutes, 8 secondsOh, let me get into that. Okay. So, when we bought our house, I had just put my license on an inactive status. 7:167 minutes, 16 secondsSo, we bought our house and like I said, we're on two acres in her and there was nothing on either side of us. We the country what I grew up with 7:257 minutes, 25 secondsand what I knew and loved. And so, cuz you were in river. Yeah. We had plans to build a dirt bike track. 7:307 minutes, 30 secondsWe had a zip line in our backyard that my husband built out of power lines stuff and so he's just a big kid. He loves He's my largest child. 7:397 minutes, 39 secondsSure. 7:397 minutes, 39 secondsBut anyway, two months can say that I think. [laughter] Yeah. Two months after we closed, Dakota Homes started developing on the east side of us. They started a subdivision. 7:507 minutes, 50 secondsSo now I have seven neighbors in my backyard on this side of us. 7:557 minutes, 55 secondsAnd then the following summer that June, they started developing on the other side of us. And I said, "Okay, this is BS. If I have to have neighbors, I'm 8:048 minutes, 4 secondsgoing to pick them." Sure. Sure. I like that. 8:068 minutes, 6 secondsAnd so I reinstated my real estate license. And I just happened to stop by a friend from junior high school cuz my son plays hockey. So I was out in Karns. 8:178 minutes, 17 secondsI knew that she lived somewhere nearby. 8:208 minutes, 20 secondsAnd so I hit her up. I just stopped by and she was like, "Hey, you know what? 8:238 minutes, 23 secondsWe're actually we've been talking about moving." And she's like, "We want to come out to Herman." And I was like, "Really? No way. That's awesome. Do you want to be my neighbor? Guess what? There's this. Yeah, exactly. 8:328 minutes, 32 secondsAnd she was like, "No way." And so all the stars aligned. It was meant to be. I sold a lot to her as a good friend of mine. 8:408 minutes, 40 secondsAnd then I sold another one of the homes in there. And by that time, the builder was like, "You know what? 8:468 minutes, 46 secondsWe we actually like working with you a lot. We like it better than the agent we've been working with." Oh, wow. 8:528 minutes, 52 secondsWould you be willing to sell for us? And I was like, [clears throat] "Sure, yeah, I guess." The commute's a little hard for me, but Yeah. 8:588 minutes, 58 secondsYeah. And so then I built a really good relationship with this builder. They were smaller builder, Canyon Point Homes. Okay. 9:059 minutes, 5 secondsJust two brothers that build 10 to 20 homes a year. Sure. 9:089 minutes, 8 secondsAnd so I ended up selling out three subdivisions for them. Wow. 9:119 minutes, 11 secondsAnd that just like snowballed for that. 9:149 minutes, 14 secondsYeah. And so I've never been one to cold call, door knock, any nothing like that. 9:209 minutes, 20 secondsMy business has just come from referrals. Yeah. I like to do a good job for people and make them happy in the 9:279 minutes, 27 secondsend and then they like to send me their people. 9:299 minutes, 29 secondsThat's awesome. It's awesome. So, you're living what a lot of realtors aspire to, right? Is that where they don't have to do some of those harder things, right? 9:369 minutes, 36 secondsWhere they're able to actually, you know, network and build that business that way, right? 9:409 minutes, 40 secondsObviously, you have a lot of friends and family too growing up here, I'm guessing. Yep. 9:449 minutes, 44 secondsAnd but but a lot of your business now is still just that repeat and referral. 9:489 minutes, 48 secondsYeah. And I'm not I'm a very social person, which is part of the reason I didn't do well in Arkansas because I didn't know anybody. Sure. 9:559 minutes, 55 secondsAnd when I came back, I'll talk to anybody. It doesn't you don't have to be a friend of mine. I'll I'll strike up a conversation with you and I don't know. I feel like I'm just a 10:0310 minutes, 3 secondsfriendly enough person that and I can build a rapport with people pretty easily. So, that's worked well for me. But Wow. And so, so are you still working for a builder then now? 10:1310 minutes, 13 secondsNot currently. They actually moved down by Santa Quinn. Okay. And so it was a bit of a commute. Okay. 10:2010 minutes, 20 secondsAnd I was at a point where my kids needed a lot of my attention and time. Yeah. 10:2510 minutes, 25 secondsSo So it made more sense to Yeah. Yeah. But now my kids are both grown. They're both out on their own. They're both homeowners. Oh, nice. That's awesome. 10:3210 minutes, 32 secondsMy daughter bought a townhouse at 20 and my son bought his townhouse at 21. That's awesome. Yeah. That's awesome. That is awesome. Chapter 7: Kids Buying Young 10:4010 minutes, 40 secondsYeah. 10:4110 minutes, 41 secondsSo let's I'm gonna pivot to that then actually for a second. cuz a lot of a lot of young people don't think home ownership is impossible right now, right? 10:5010 minutes, 50 secondsAnd you just kind of talked about how two very young kids have already bought a home. What how involved were you in that? What talk to me about that? Just that whole process. 10:5810 minutes, 58 secondsSo, I was very involved. It helps that I'm an agent and I could put my commission towards helping them with 11:0711 minutes, 7 secondsclosing costs or down payment, that type of stuff. So that in itself is a huge benefit to those two. Yes. [laughter] Of course. Yes. 11:1511 minutes, 15 secondsBut we've always instilled in them the sooner you can get in the game, the better. There's no better time to buy than now. 11:2311 minutes, 23 secondsSure. If you can afford it. Yeah. 11:2511 minutes, 25 secondsIf you can make sense of it, it's the best investment you'll ever make. Yeah. 11:3011 minutes, 30 secondsBecause regardless of it's time in the market, not timing the market. 11:3411 minutes, 34 secondsI like that is what I like to tell people. So, it's just a it's a long game investment. And in fact, I even told my son there's he just bought in June. 11:4411 minutes, 44 secondsYeah. 11:4511 minutes, 45 secondsWith the Edge Homes. He bought an Edgetown home and they're offering all these crazy incentives where lenders like you can't compete. 11:5311 minutes, 53 secondsYeah. 11:5411 minutes, 54 secondsThat's true. Yeah. When they're giving 20 grand or something like that. Yeah. Makes it hard, right? 11:5811 minutes, 58 secondsAnd so I said, "You know what? We're not going to we're not going to get you in at these low 1.99 that they're offering even though it's a 5.6 acre, right? 12:0912 minutes, 9 secondsI said a lot of people are getting in and my fear is that in Utah everybody knows we all most everybody lives above 12:1712 minutes, 17 secondstheir means here cuz they got to keep up with the Joneses, right? 12:2112 minutes, 21 secondsAnd so I'm like you're going to be in this townhouse where there's going to be a thousand other ones exactly like yours. 12:2712 minutes, 27 secondsYeah. And you have people that can afford the payment today, but will they be able to afford it when their payment jumps $300 the second year and another $300 the third year? 12:3812 minutes, 38 secondsYeah. 12:3812 minutes, 38 secondsI said, you might be in a sea of bank-owned properties. Sure. Sure. 12:4312 minutes, 43 secondsAnd so I said, "We're not going to do that. We're going to take the money that they're giving you and we're going to buy your rate down permanently." Okay. 12:5012 minutes, 50 secondsAnd you're going to be in this for the long haul. 12:5212 minutes, 52 secondsYeah. Good. Good. [laughter] I love that. 12:5412 minutes, 54 secondsSo we got him in. He's at a five and a quarter percent and it's a payment that he's comfortable with and he's good to go 13:0113 minutes, 1 secondwith Yeah. And so anyway, that's kind of the route we went with that. 13:0513 minutes, 5 secondsWhat And you mentioned obviously so you're a realtor, right? And you were able to so mom's able to gift commission, help out with that and stuff like that. 13:1213 minutes, 12 secondsWhat advice would you have then for other I guess let's say for parents and then also for those kids that are at that stage of life and 13:2013 minutes, 20 secondssaying, "Okay, hey, my parents aren't a realtor. They want to be able to get in, but they still Exactly. Yeah. What would you say to those people? Chapter 8: Programs and Saving Tips 13:2613 minutes, 26 secondsSo, there's a bunch of firsttime homeowner programs that people aren't aware of. There's different grants that are available depending on which city 13:3313 minutes, 33 secondsyou're in. There's a Utah housing grant where the loan, it's a 0% interest rate that helps with a down payment. So, it's 13:4113 minutes, 41 secondsa second mortgage. You obviously know all of this stuff. [laughter] Yeah, explain it. Correct me if I'm wrong. You're doing great. You're doing great. 13:4813 minutes, 48 secondsIt's a second mortgage at a 0% interest and a portion of it over the course of time. 13:5613 minutes, 56 secondsLike if you sell in say three years and you only have a certain amount of equity Yeah. 14:0214 minutes, 2 secondsthey'll only take half of what you owe back to them. Yeah. 14:0714 minutes, 7 secondsOut of your proceeds. So there's ways that you can get in. They're not always ideal, I would say. 14:1314 minutes, 13 secondsAnd it's best to have options and have a loan officer that can go over the numbers with you to see what makes the most sense for your scenario. 14:2214 minutes, 22 secondsBut if we're at a point in time where you're gaining equity faster than you are needing to pay those back or 14:2914 minutes, 29 secondswhatever, it's a juggling act. But if you can get in, that's the best place to start. Yeah. No, I love that. 14:3614 minutes, 36 secondsI don't know if I explained that very well. It's clear as mud. That was perfect. That was perfect. 14:4014 minutes, 40 secondsAgain, I was following along. 14:4214 minutes, 42 secondsWhat you're pointing out is that there are programs, right? So, if mom and dad don't have the money to gift you, there programs that can help you. 14:4814 minutes, 48 secondsAnd it's a myth that you need to have 20% down. That's old as could be news. 14:5314 minutes, 53 secondsDo a conventional for as little as 5% down. FHA is 3 and a half%. 14:5714 minutes, 57 secondsYeah. Even conventional has a 3% down program, too. 15:0015 minutesYeah. So, I've stopped going to Swig and Starbucks and and all the things and you just save. 15:0815 minutes, 8 secondsIf people really nailed down their budgets, Yeah. You can save more than you think you can. You should always pay yourself first. 15:1415 minutes, 14 secondsYes. Yes. I love that. I And I think what you're pointing out is make like really setting a goal is really, you know, just an oldfashioned word 15:2215 minutes, 22 secondsnowadays, but hey, what's your plan? If your plan is to own a home, how do you get there? Let's make it happen. 15:2715 minutes, 27 secondsLet's make it happen. Right. Yes. Not so much swig. Not so much whatever. Like you need a road map. Exactly. Yeah. Exactly. 15:3415 minutes, 34 secondsI couldn't have got here today probably without my Google maps. Sure. And so I knew I had a destination. Yep. I made a map. Yep. And it got me here. 15:4215 minutes, 42 secondsAnd that's how And that's how you do it. 15:4315 minutes, 43 secondsThat's exactly it. Even if the door wasn't exactly where it should have been today, right? 15:4715 minutes, 47 secondsEven last week, me and Ryan were talking about this because he always asked me, he's like, "Okay, you are going to college. You just got out of college. 15:5415 minutes, 54 secondsWhat's going on with people your age?" Yeah. Just like, "Hey, all right. I don't need the smoke." Maybe you do. 16:0216 minutes, 2 secondsIt was just people are He's always asking, "Okay, are there people that are buying your age? What are you seeing?" And it's always just the people that are 16:1016 minutes, 10 secondsfocused on it. If they actually make it their goal and they actually have people that are involved in their lives with that being like, "No, this is a really 16:1716 minutes, 17 secondssmart decision. You should focus on it." Then those are the ones that get in homes earlier than people like me. Well, Chapter 9: Trades and Career Paths 16:2516 minutes, 25 secondsand speaking to the younger generation, I and my husband, it's a good thing we're on the same page, but we both feel 16:3316 minutes, 33 secondslike you should really only go to college if whatever your heart desires requires it. Sure. Sure. 16:4016 minutes, 40 secondsBecause there's so many the trades are making buku bucks. Yes. Yes. 16:4516 minutes, 45 secondsAnd the the trades can't really be replaced by AI. Yeah. 16:4816 minutes, 48 secondsSo, if you're willing to go and put in the hard work, like that's what my son's doing. He's 21 years old. He's making like $150,000 a year. Yeah. Already. And it you can do that. 16:5816 minutes, 58 secondsYeah. 16:5816 minutes, 58 secondsAnd he's he's an apprentice lineman and plumbers are making tons of money. Like welders, pipe fitters, 17:0717 minutes, 7 secondsall the things. So if you're willing to go put in some labor, I think you're hitting on the point, which is get specialized in something. 17:1617 minutes, 16 secondsAnd so whether that's so if college gets you there, great. If a trade gets you there, great. If anywhere in between gets you there, great. The point is get the world will pay you if you're good at 17:2417 minutes, 24 secondssomething. And if you're just okay at a lot of things, eh, probably not so much. You'll get okay money. 17:2917 minutes, 29 secondsAnd so my daughter, she actually she graduated in 2020, which was a bummer of a deal because she 17:3717 minutes, 37 secondshad all these big plans. She thought about going to esthetician school like I feel 98% of teenage girls do. 17:4517 minutes, 45 secondsYes, I have a couple friends. Do you feel that? Yeah. 17:4817 minutes, 48 secondsAnyway, [clears throat] but it ended up leading her on a different path because she was like, "Why would I pay to go to esthetician school when I can't physically touch people right now? 17:5617 minutes, 56 secondsIt just doesn't make sense." And so rather than doing that, she went to each individual skill. She went and learned how to do 18:0418 minutes, 4 secondsmicrob blading from somebody that did micro blading. Then she went and learned how to do airbrush makeup from a lady that airbrush make Miss America pageant people. 18:1318 minutes, 13 secondsYeah, you're speaking mine and Ryan's language right now. and she went and learned to do piercings and then she's actually a tattoo artist now. 18:2218 minutes, 22 secondsAnd so she just started her own business doing all of those different things. 18:2618 minutes, 26 secondsApprenticing essentially really it sounds like she's just she's job shadowed so many people. She did her own career or educational path, right? 18:3418 minutes, 34 secondsLove that. 18:3518 minutes, 35 secondsAnd yeah, and she made a go of it and she's been successful. And there's so many different avenues to make money. 18:4218 minutes, 42 secondsYes. It's just a matter of figuring out what your heart desires and going for it. Yeah. 18:4718 minutes, 47 secondsAnd don't make excuses. We're always our own worst critics. But if you believe in yourself, Yeah. 18:5318 minutes, 53 secondsthen you can make anything you want happen. I love it. Yes. That's what I think. Clip that. 18:5718 minutes, 57 secondsYeah. There you go. If you believe in yourself, it's it's all possible. Ryan makes it a Disney commercial. 19:0419 minutes, 4 secondsAny other thoughts on Jordan? I'll let you chime in here as far as first-time home buyers and stuff like that, then we can kind of move on. But any other thoughts as far as just other things 19:1219 minutes, 12 secondsthat you're seeing or questions you would have on that subject? 19:1419 minutes, 14 secondsJust from what we've been talking about, I think I just want to point out the importance of having somebody that is specialized in it, finding people. Yeah. Chapter 10: AI vs. Real Expertise 19:2319 minutes, 23 secondsFinding somebody that actually is knowledgeable because I was also hitting on this last week. I was like, I feel like we have a bunch of do-it-yourself 19:3119 minutes, 31 secondsmindseted like people my age because of AI, because of chat. They think everybody's an expert now in whatever 19:3919 minutes, 39 secondstopic they ever But the reality is those are designed to just be yesmen. 19:4419 minutes, 44 secondsThe AIS are just designed to tell you what you want to hear and yeah to encourage you because if they don't then nobody's going to use them. Sure. 19:5219 minutes, 52 secondsIf somebody Googles oh or chat GBTs oh how do I buy a house and it gives them the road map then all of a sudden in their first-time home buyer brains 20:0120 minutes, 1 secondthey're like oh then I'm good. I don't need a realtor. 20:0420 minutes, 4 secondsSure. And I've heard that a couple times and then they get into it and I'm like they always call me up and they're always like, "Okay, what am I supposed to do?" They're like, "Oh, chat couldn't help 20:1220 minutes, 12 secondsyou with that." Yeah. 20:1320 minutes, 13 secondsYeah. It's like especially [laughter] Yes. 20:1520 minutes, 15 secondsAnd it's like you don't know even if you were an expert, you don't know what questions to ask AI. You don't know what avenues to go down properly. There's 20:2420 minutes, 24 secondsstill room for expertise. There's still room for people that can do it, guide you, and help you achieve your goals. 20:3120 minutes, 31 secondsand they only have your best interest in mind. And so it's like I always let people know I'm like no like when it comes to the biggest decision of your 20:4020 minutes, 40 secondslife. Yeah. You don't want just any Joe Schmoer. You don't want to do it Chad GPT. 20:4420 minutes, 44 secondsAnd here's a good example. My daughter actually has gone and gotten her real estate license. Okay. 20:5020 minutes, 50 secondsBecause I've always wanted her to work with I'm like sure. Yeah. You might as well. Mom and daughter together. Yeah. We make a great team. 20:5620 minutes, 56 secondsI'm sure you do. Oh, it's Barbie. Do you know Barbie Shan? No. 20:5920 minutes, 59 secondsNo. Anyways, she's at the Lehi Prescidia. 21:0221 minutes, 2 secondsOh, okay. Anyways, but she's almost I'm nervous about it because she watched me go through the whole process of buying my son's townhouse. Yes. 21:1221 minutes, 12 secondsAnd when you get a package of CCNRs that are that thick, this thick because there's three 21:1921 minutes, 19 secondsdifferent associations basically that 21:2221 minutes, 22 seconds[clears throat] 21:2221 minutes, 22 secondsYes. 21:2321 minutes, 23 secondsAnd you're having to read through them and pick out the things and point out to your client, okay, are you sure you're going to be okay with this? are you sure that you're going to be okay that there's a cap on the rentals? Are you? 21:3221 minutes, 32 secondsAnd she's like, I don't know if I can do it. And I'm like, but that's why you'll have me. I've been doing it and you'll have a mentor and you don't have to do it on your own. 21:4121 minutes, 41 secondsYeah. 21:4121 minutes, 41 secondsBut the people that think they can and they're just using chat GPT as their mentor. You might be getting yourself into some muddy waters. 21:4821 minutes, 48 secondsYeah. Yeah. You're pointing out again the benefit of having somebody that has So, if we go back to your idea of a road map, right? This all you're doing is Chapter 11: Mentorship and Roadmaps 21:5621 minutes, 56 secondssomebody that's a little further down the road at been there. And so it's saying, "Hey, hey, don't turn left here. 22:0222 minutes, 2 secondsThere's this bump over here. You're going to hit." So, you should have turned right. That's all you're doing is just, "Hey, I've scouted this out before. I've seen the problems." That's 22:0922 minutes, 9 secondswhat experience is, right? You've been doing this for 20 years. You've seen some problems. Yeah. You've seen some things that go wrong. 22:1522 minutes, 15 secondsYou've heard about it from other co-workers, too, I'm sure. Right. And so, again, that's the benefit of somebody that has experienced this before. You just have more knowledge. 22:2322 minutes, 23 secondsI'm a huge believer in you are who you surround yourself with. Sure. 22:2822 minutes, 28 secondsAnd so if you surround yourself with people that are doing the work, that are successful at it. Yeah. 22:3422 minutes, 34 secondsIf there's five of them, you'll probably be the sixth. Sure. 22:3722 minutes, 37 secondsAnd I told my kids this growing up. I was like, "Excuse my language, but if you're going to hang out with five you're probably going to be the sixth." Yes. Oh, dang. 22:4522 minutes, 45 secondsI'm the sixth one. Just kidding. [laughter] Cuz I'm hanging around smart. 22:4822 minutes, 48 secondsYou can cut that part, but that's perfect. That's perfect. 22:5122 minutes, 51 secondsYou can hang out with five millionaires, you'll probably be the sixth. It's just how it works. Like you, man. Also, we just barely we won't name names, but we all know all three of us Chapter 12: Specialists, Not Generalists 22:5922 minutes, 59 secondsnow who I'm about to start talking about, but it's we were helping out one of our clients with a loan. He started using somebody else that just wears a 23:0723 minutes, 7 secondsbunch of different hats and doesn't specialize and hasn't been in the market. And then he realized, okay, we have 30 days before we're supposed to 23:1523 minutes, 15 secondsclose and there's all these unknowns, there's all these hiccups, there's all these things. And I kind of think about it as yeah, you don't really want to be 23:2323 minutes, 23 secondson the surgical table and having the doctor be like, "Oh crap, I forgot that I have to do this and we're not prepared 23:3023 minutes, 30 secondsfor this." And you just get stitched back up without being fixed. And so it's like it kind of that's a really gruesome example. And being a loan officer and a realtor is nothing near being a surgeon. 23:4023 minutes, 40 secondsBut I think it hit I think it hit like you bring again and that's why you hire experts and frankly you can only be expert at so many things. Especially as 23:4823 minutes, 48 secondsI get older, my brain just doesn't work like it used to. You know what I mean? I forget things and stuff like that, right? I'm sure you don't, but you know, for me it does, right? And so, I've learned, okay, no, I can only really be 23:5723 minutes, 57 secondsgood at certain things. And so, whatever I spend my time doing, that's what I'll get good at. And so, I'm not good at XYZ. 24:0324 minutes, 3 secondsThat's why I've actually, this is the first time I'm meeting you in person cuz you're in here doing this kind of stuff. 24:0724 minutes, 7 secondsAnd with your three monitors, Jordan's out there meeting people and bringing them in cuz he's better at that than you have time for, maybe. That's exactly it. That's exactly it. 24:1624 minutes, 16 secondsYeah. Way to tear us apart there. No, that she actually nailed it. She nailed it. I mean, that's exactly what that's why you have different people have different roles, right? And again, it can only be good at so many things. Yes. 24:2624 minutes, 26 secondsIf I'm out there doing this, doing what Jordan's doing, I don't have the time to do the things. 24:3324 minutes, 33 secondsExactly. That's exactly it. Yes. Yep. 24:3624 minutes, 36 secondsAnd I can shout out Ryan. Ryan's very, very good at noticing people's talents, too. Loaning. If I would say that's what 24:4324 minutes, 43 secondshe's specialized in, there's loans and seeing the needs of whoever he's around because he saw me and put me in this position. This is 24:5124 minutes, 51 secondswhere I want to be. This is like where it's exciting for me to like wake up every day and do it. 24:5624 minutes, 56 secondsAnd he's doing well at it. Ryan, shout out Ryan Hardy. [laughter] So, let's let's shift gears a little bit to the market in general right now. A Chapter 13: Is Now a Bad Time? 25:0325 minutes, 3 secondslot of people are thinking, hey, interest rates are now at close to 7% here. 25:0825 minutes, 8 secondsIt they're higher than they've been in a while, right? Does that make it a bad time to buy? Talk to me about that. 25:1325 minutes, 13 secondsThe best time to buy is when it makes sense for you. Like when my mom and dad bought a house, the interest rate was 16%. 25:2225 minutes, 22 secondsBut that didn't stop them because they needed a house. Yeah. Yes. 25:2625 minutes, 26 secondsAnd so I think right now a lot of people are always waiting. Oh, we've heard this, we've heard that, the market's going to crash, there's a bubble, 25:3425 minutes, 34 secondsthere's people have been saying that for how many years now? Correct. And we still haven't had the crash or the bubble. And if we do, oh, you hang on 25:4125 minutes, 41 secondsfor that ride. Yeah, you're in it. You hang on. Yes. You make a different plan. 25:4725 minutes, 47 secondsIt es and flows and you just need to be in it. You need to be a part of it. 25:5125 minutes, 51 secondsYeah. Nope. [laughter] I think you're exactly right. Talk to me. Also, one thing I've noticed is it seems like when there's So, when interest rates do get higher like this, there are less buyers, Chapter 14: Buyer Leverage and Concessions 26:0026 minutesbut right now inventory wise, we have quite a few sellers. We do have few sellers. 26:0426 minutes, 4 secondsWhat does that make the Why is that good for [clears throat] buyers? Because you have more to choose from. 26:0826 minutes, 8 secondsAnd if if you like a house in a certain neighborhood and they're not willing to negotiate with you and maybe help you 26:1526 minutes, 15 secondswith some seller concessions so you can buy your rate down to where your payment is affordable, then the guy three doors down might be 26:2326 minutes, 23 secondsyou have more to choose from which gives you better leverage in your negotiations. You can be like, "We really love your house, but 26:3026 minutes, 30 secondsJoe over here is we've been talking to him and he's willing to do this." Yeah. 26:3426 minutes, 34 secondsare you willing to do the same or and if you have a good agent working for you, it makes it a whole lot easier because they're the ones having those conversations and it's it takes the personal part out of it for you. 26:4526 minutes, 45 secondsLove that. I think a lot of people don't realize that now I think they say that with the stock market when everybody's scared that's actually the best time to buy and when everybody's overconfident 26:5426 minutes, 54 secondsthat's the best time to sell. And so I would say real estate's not too far from that when there's not a lot of buyers, right? Hey, maybe now is a really good 27:0127 minutes, 1 secondtime to jump in because Yeah. You get 20 30,000 in. 27:0427 minutes, 4 secondsThere's a reason that seller put their house on the market. Yes. Yes. 27:0827 minutes, 8 secondsThere's some that are just like, let's just test the waters. There's others that are like, we got to go. I need to sell. Yes. 27:1427 minutes, 14 secondsYeah. So, yes. We got a job offer in somewhere or we have this life event that's happening or whatever. 27:1927 minutes, 19 secondsYeah. Death, divorce, job offers. People are always going to be buying and selling regardless of what the interest rate is, regardless of things happen in 27:2727 minutes, 27 secondslife that require and there are people that are like, you know what, we have a 3% rate. We'd love to move, but we're not going anywhere because we don't have to. Sure. 27:3527 minutes, 35 secondsAnd that's fine, too. Let's wait it out. 27:3727 minutes, 37 secondsAnd like I said, when the time is right for you, make the move. 27:4027 minutes, 40 secondsYes. So, no. Love that. So, on the flip side, then, so let's say somebody that's hearing this is one of those people that Chapter 15: Seller Strategies Today 27:4827 minutes, 48 secondshas had one of those events. events that now they have to sell and they're thinking, "Oh man, am I going to lose all this equity I've had?" 27:5627 minutes, 56 secondsWhat What advice would you have for those sellers? 27:5827 minutes, 58 secondsYeah. Have one right now actually. It's a divorce situation and they're motivated to get out of being under the same roof. 28:0728 minutes, 7 secondsSure. 28:0828 minutes, 8 secondsAnd it and I just let them know right up front, look, the average days on market right now is 60. I'm not going to 28:1528 minutes, 15 secondssugarcoat anything for you because I don't want to be consoling you when we get to 60 days and we're still on the 28:2228 minutes, 22 secondsmarket. Like, I want you to know right up front, here's what the market's doing. I'm constantly giving them updates. Oh, this house just listed. 28:3028 minutes, 30 secondsThis is interest rates have gone up. 28:3228 minutes, 32 secondsMaybe rather than reducing your price, how about we offer 10,000 in a buy down so that people can see we're willing to 28:4028 minutes, 40 secondshelp with that. There's different strategies that you can do, but ultimately it takes finding the right person who wants the house and they're having to be patient right now. Sure. 28:4828 minutes, 48 secondsAnd that's where we're at. We're at 30 days on market, so we're Okay. So, you're still Yeah. Yeah. But a lot of movement and stuff like that or not really? 28:5628 minutes, 56 secondsWe've had some We've had some showings and we've actually I had two offers right from the get-go, but the one offer 29:0429 minutes, 4 secondsthey had a house to sell and didn't even have it listed yet. 29:0729 minutes, 7 secondsOkay. I'm like, that makes it difficult for my sellers to try and work off someone else's timeline. Yes. Yeah. 29:1329 minutes, 13 secondsWith their situation. And then the other one was a financing struggle. He had signed on a rental property with another 29:2229 minutes, 22 secondsfamily member and just the way it was working out, the financing wasn't going to work. 29:2729 minutes, 27 secondsAnyway, we've got somebody else that's possibly interested. Came back for a second showing over the weekend. 29:3329 minutes, 33 secondsCrossing our fingers that maybe they put an offer in. 29:3529 minutes, 35 secondsYeah. But again, inventory, it just keeps coming up. Sure. 29:4029 minutes, 40 secondsSo, yeah, again, why you need an expert, right, to kind of navigate some of these things because again, that somebody that really knows what they're doing and and again, 29:4829 minutes, 48 secondsnot all realtors are created equally here, too. Right. For sure. 29:5129 minutes, 51 secondsYou know, you've been doing this long enough that you know that, okay, just because you're licensed doesn't mean you actually know what you're doing either, right? And so, I guess that I don't know if you want to speak to that for a second. Chapter 16: Agents Getting Weeded Out 29:5929 minutes, 59 secondsYeah, there's definitely I think there's 18,000 plus licensed agents right now. 30:0430 minutes, 4 secondsIn fact, there's there were three. I think we might be down to two that are Melissa Williams. Okay. Okay. 30:1130 minutes, 11 secondsSide note, I tried to get my husband to take my last name when we got married and he wouldn't have it. So, I was like, "Really? Melissa Williams? There's 30:1830 minutes, 18 secondsstill common. It's like Smith, right?" You know? 30:2130 minutes, 21 secondsYeah. So, anyways, there's a lot of licensed agents. There's a lot of agents that are part-time. There's a lot of people who got into the industry 30:2830 minutes, 28 secondsduring the 2122. They're like, "Oh, you put a house on the market, it's sell." Yeah. Making all this money for 30:3530 minutes, 35 secondsyou've got 50 offers in 10 minutes and it's easy. We're just door openers. And it's I think we're going to start to see some of those agents now 30:4330 minutes, 43 secondsgetting weeded out because it's not the ease that they thought it was going to be. There's struggle involved for sure. 30:4930 minutes, 49 secondsYeah. Well, it is a job, right? And I think sometimes this industry unfortunately attracts the easy money people, right? And who who doesn't want 30:5730 minutes, 57 secondsto make money for doing nothing? That's but this actually job requires a lot of work. More work than I think maybe a lot of people more work and more experience. And the 31:0531 minutes, 5 secondshard part is like when you're a good agent, your clients don't see Yeah. 31:1031 minutes, 10 secondsall of the backend that goes into all of the conversations, the negotiations, the sleepless nights, the 31:1731 minutes, 17 secondstalking to inspectors and roofers and plumbers and electricians and all the conversations that go on behind the scenes that you're doing for them. 31:2631 minutes, 26 secondsYes. 31:2631 minutes, 26 secondsAnd they don't even have any idea. And so it's a catch 22. 31:3031 minutes, 30 secondsSure. Sure. [laughter] So let's pivot to that a little bit, too. So, you mentioned like all the different people involved. Obviously, as a realtor, you're that head of that transaction, right? You know, you're the one kind of connecting a lot of people. Chapter 17: Building a Winning Team 31:4031 minutes, 40 secondsYou have a lot of contacts. How important is that that team that you work with, whether that's title inspectors, obviously, lenders. How important is that? 31:4831 minutes, 48 secondsIt's huge. It's what makes a transaction go smoothly. Yeah. 31:5231 minutes, 52 secondsBecause when you hit a bump in the road, it's, oh, I know that the title company I'm working with is they're already on it. If they see a problem in the title 32:0032 minutesreport, they're letting me know about it. Some people if you're selling by yourself or people think they can just use chat GPT, it's like you don't have 32:0832 minutes, 8 secondsthe first clue or relationship with a title person to even tip you off to that red flag that's on there. Yeah. 32:1532 minutes, 15 secondsAnd so I'm actually guilty. I'm a DIYer for sure. Yeah. 32:2032 minutes, 20 secondsI sold two homes by owner myself before I was ever even licensed. [snorts] And then when I went to school and got 32:2832 minutes, 28 secondslicensed, I was like, I'm glad nothing ever happened. Sure. 32:3232 minutes, 32 secondsCuz there's a lot that could have gone wrong. 32:3432 minutes, 34 secondsYes. And I got lucky. [laughter] Yeah. Sure. Yeah. 32:3732 minutes, 37 secondsSo anyway, it's important. It's super important to have a good team and to have somebody that you can trust that's 32:4532 minutes, 45 secondsgoing to do a good job. That's my biggest thing is don't give me a bad name because you're not doing your job right. Yeah. Yes. [laughter] Nope. Yep. We've experienced that too. 32:5332 minutes, 53 secondsOn you, right? You know, as far as lending goes, tell me what are you looking for in those lending partners and stuff like that? What makes a good lending partner? 33:0133 minutes, 1 secondI'm huge on communication. I don't think you can overcommunicate. Some people get annoyed and everybody has a different style. Maybe that's where you're good at 33:0933 minutes, 9 secondsfiguring out, oh, I know this person likes this. I know this person needs an email every day or they'd rather have a phone call or whatever. But I like to 33:1733 minutes, 17 secondsknow where we are in the transaction. I don't want to have to babysit all of my people and make sure they're doing their 33:2433 minutes, 24 secondsjob. I just want to be able to trust that they know what they're doing. 33:2833 minutes, 28 secondsThey're going to update me on it so that I have a good feeling that we are where we need to be so that I can get my client across the finish line and 33:3633 minutes, 36 secondsthey're happy with the services that we've all provided. 33:3933 minutes, 39 secondsYeah. Especially as you're starting to do more volume, right? You've been doing this for a while. You do a lot. Yeah. 33:4333 minutes, 43 secondsYou don't have time to babysit everything, right? 33:4633 minutes, 46 secondsYou got a lot going I'm super I pick out the details like crazy. Like on my son's deal, I went back to the agent three different 33:5433 minutes, 54 secondstimes and I was like, "Tell me about this. How come I found it online at this price, but you're telling me it's this price?" And he's like, "It's never been that price." And I'm like, "Here's the screenshots. 34:0234 minutes, 2 secondsSure. 34:0234 minutes, 2 secondsHere's here's where I see that it was at that price." And anyway, so I found I caught them and he's like, "Oh, dang. 34:0934 minutes, 9 secondsI'm going to have to go to our marketing department." I'm like, "I don't want to have to be doing your job, too. I just want to do my job." Yes. Yes. [laughter] Yes. No, you're exactly right. 34:1834 minutes, 18 secondsLove that. Love that. 34:1934 minutes, 19 secondsAnyway, Missy, this has been great talking to you about everything. Thanks for having me. 34:2434 minutes, 24 secondsIs there anything we haven't covered that that you want to hit on? 34:2734 minutes, 27 secondsI don't know. There's so much There's a lot that goes into real estate and loans and title and all the other home 34:3534 minutes, 35 secondsinspections. And there's so much. I think as long as we I love that you do this and I hope that a lot of people watch it because I think it provides value. 34:4434 minutes, 44 secondsYeah. And if you can provide value to people, then that's really what I'm here for is I like to help people and I want 34:5234 minutes, 52 secondsto make sure that they're getting a good experience and that it's done right. Yeah. 34:5534 minutes, 55 secondsCuz I've seen experience where it's where it has not been done right. And I never want to be that. [laughter] That's that you're Yes. No, you don't. 35:0435 minutes, 4 secondsAnd I think that's one of the reasons we have this podcast is really to highlight good realtors like yourself to try to get get more knowledge out there that hey, there there are experts in this 35:1235 minutes, 12 secondsfield. Hey, talk to them, right? you know, just cuz your brother or uncle does it like they may not be the best candidate, right? There may be licensed only and unfortunately that sometimes gives 35:2035 minutes, 20 secondsthe field a bad rap because again in license only, right? They're not actually those experts. And so, well, and the other thing that I love 35:2735 minutes, 27 secondsabout Prescidio specifically and my branch broker specifically, he's been on the board of education at the board of realtors for years and years. 35:3735 minutes, 37 secondsWow. Yeah. and he has so much knowledge and experience and so do all of the agents in my office. That's why I went 35:4435 minutes, 44 secondsback to Prescidio. I took a little sbatical for a little while. Actually, we were all at Realy Path. Okay. 35:5035 minutes, 50 secondsAnd anyways, yeah, they made the move. I took off for a little while, but I came back because that's where I feel like I have the 35:5735 minutes, 57 secondsbacking that I need. I'm updated on all the education. It's ever changing. 36:0236 minutes, 2 secondsStuff's always changing. And so I know I'm in the right place to be able to serve my clients well because I'm up with the latest information. 36:1036 minutes, 10 secondsYeah. 36:1136 minutes, 11 secondsAnd so which I guess goes back to how important a good brokerage is then, right? Where you work again. So matters, right? 36:1636 minutes, 16 secondsAgain, that synergy. You talked about the different people you're around. I think that's more important than maybe hundreds of years of experience 36:2336 minutes, 23 secondscollaboratively in my office and everybody's willing to help each other. 36:2836 minutes, 28 secondsSo, even if I mean, no two real estate transactions are identical. And so, there's going to come a time where I'm going to come across a deal where it's 36:3736 minutes, 37 secondssomething I haven't experienced yet, but I have a whole slew of agents I can go to and say, "Hey, here's what I'm up against. Have you guys experienced this? 36:4536 minutes, 45 secondsWhat have you done?" Y and it's nice to have that collaboration between agents in the office, too. Love that. Chapter 18: New Agent Playbook 36:5336 minutes, 53 secondsMaybe let me ask you another question then to those because there's a lot of realtors that listen to this. If somebody's a new agent just starting off, they're thinking, "Okay, sure, 37:0037 minutesMissy has all this experience. Sure, she's got all this business coming in because she's been doing it for so long, but I'm just starting off. 37:0637 minutes, 6 secondsWhere do I start? What do I do? Like, how do I break into this industry?" Presidio actually has a mentor program and an agent development program. When I 37:1637 minutes, 16 secondsstarted out at Realy Path, they had launch classes and I know a lot of brokerages have it too. Keller Williams has their 37:2437 minutes, 24 secondstheir program and whatever. Just make sure that you get with somebody that fits you well. You want to make sure. 37:3037 minutes, 30 secondsDon't send me to somebody who's going to try and sit me at a desk cold calling for eight hours a day cuz that's not your thing. That is not my thing. 37:3837 minutes, 38 secondsIf you're a social person and you like to talk to people and you go to events and you don't have a problem walking up and introducing yourself, I'm your girl for that. 37:4737 minutes, 47 secondsSure. 37:4837 minutes, 48 secondsYou know, perfect. So find somebody that you mesh well with that if I'm not just an analytical numbers, you know, I'm 37:5637 minutes, 56 secondslike, let's go have fun. Let's go golfing. Let's It's a relationship business. And so that's why I think I 38:0338 minutes, 3 secondsthrive in it cuz I like most people. Sure. So find So [laughter] Right. Yeah. 38:0838 minutes, 8 secondsBut that So that's the advice then is find something that you first of all find a place that will mentor you and help you. 38:1438 minutes, 14 secondsYes. And but then make sure that within that structure that it's somebody that complements your skills or you know hey I'm good at this and said you got it. 38:2338 minutes, 23 secondsOkay. I love that. [laughter] I love that. So I think that's great advice. 38:2638 minutes, 26 secondsYeah. Jordan, any any final question questions for you have? 38:3138 minutes, 31 secondsI was thinking about this on the drive over. I was like let's do a hurrah little spotlight for Melissa be like 38:3838 minutes, 38 secondsthis will be my question looking at the camera. Why is Melissa the best realtor on the planet? No. Go on the spot. Do it. Thanks, Jordan. But what Yeah. What? 38:5038 minutes, 50 secondsWhy choose why choose you over the the thousand? 38:5238 minutes, 52 secondsOther than like what we've already talked about I I have a hard time tooting my own horn. So, what I would say is that go read my Google reviews. 39:0239 minutes, 2 secondsOkay, [laughter] there we go. I like I like that. Listen to what other people are saying. 39:0839 minutes, 8 secondsDon't take my word for it because we all we're also exaggerated hype people too. Like I always hype myself up a little too much. 39:1539 minutes, 15 secondsYou say humble. Yeah. Good. Yeah. Go read the Google reviews. Was tough. 39:1939 minutes, 19 secondsThat was a good That was [laughter] a She got your answer. Yeah. That's clip it. 39:2339 minutes, 23 secondsMissy, this is this has been great talking to you. I'm glad you're doing good out there. Glad you're talking to a lot of people getting Yeah. 39:2939 minutes, 29 secondsAnd I think even in your own family, modeling what I think we hope all of us are able to do with that rising generation, right? To help them. Hey, we 39:3839 minutes, 38 secondswant them in homes. That's I think for sure. What's scary is that a lot of people don't think it's possible anymore and it's like no it just it's maybe harder and that's why people need 39:4639 minutes, 46 secondsexperts, mentors, right? So it's very possible and it's still very much a thing that they should do. Yes. 39:5239 minutes, 52 secondsBecause long term the the the net worth of a renter versus the net worth of a homeowner far different. Oh, for sure. Absolutely. 39:5939 minutes, 59 secondsAnd and I should throw in there too, I want to give props to my niece because she also she bought her first place at 20 Chapter 19: House Hacking for Youth 40:0740 minutes, 7 secondsyears old. She closed right before her 19th birthday or 20th birthday. So, she was 19. Yeah. 40:1240 minutes, 12 secondsAnd she house hacked, which is a thing that a lot of young kids can do. Explain what that means. 40:1940 minutes, 19 secondsSo, she used her own credit and income and everything to qualify to purchase a townhouse, but it's down by BYU. She was going to BYU. 40:2640 minutes, 26 secondsThere's a lot of kids that go that need a place to stay. Instead of staying in student housing, she rented rooms to five different girls. So, I think she 40:3440 minutes, 34 secondshad six girls helping her pay her mortgage. Yeah. 40:3740 minutes, 37 secondsbasically. And then she got engaged. Her and her fiance bought a condo. So now that whole place is a rental 40:4440 minutes, 44 secondsand they've moved on. So they've got two homes at 22 years old. Wow. Wow. So there's ways that it can be done. 40:5240 minutes, 52 secondsYeah. You just have to kind of think about things. You just have to be creative sometimes. Forward thinking and Yeah. Yeah. That's so cool. And responsible and driven. 41:0041 minutesSure. Sure. Because obviously I'm guessing collecting rent from your peers was maybe not always easy. We could talk to her about that, I guess. But yeah, 41:0841 minutes, 8 secondsand so that's sometimes scary for people. Hey, I don't want to be the landlord. Yes, for sure. But but no, love that. 41:1441 minutes, 14 secondsSo, you're going to have to cut that and put it in the other part, maybe. Hey, all flow well. 41:1941 minutes, 19 secondsAnyhow, thanks, Missy. Appreciate you coming on. Yep. Thank you. Thanks for having me. Appreciate it. Love it. Thanks. Chapter 20: Final Wrap and CTA 41:2441 minutes, 24 secondsThanks for tuning in to From Rents to Roots. I hope today's episode gave you insight, confidence, and maybe even a little inspiration on your home 41:3141 minutes, 31 secondsownership journey. If you enjoyed this episode, make sure to subscribe, leave a review, and share it with someone who might find it helpful. And if you're 41:3941 minutes, 39 secondsready to take the next step in buying a home, or just have questions, reach out to me or my team at Workhard Mortgage. 41:4541 minutes, 45 secondsWe'd love to help you on your path to home ownership. Until next time, keep working hard, keep building your future, and we'll see you