The 1st Time Homebuyer Show w/ Gizmo by House Rich

The FHA loan is a good loan program but make sure you understand these 7 things before you get one. *How many FHA loans you can have at once *The actual down payment *The amendatory clause *FHA self-sufficiency test *Not the lowest down payment *Community property guidelines This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through rea...

This week I talk with Lamon Woods a black entrepreneur out of Louisiana about his journey from making less than $30,000/yr to owning 114 properties and counting. We discuss working with a mentor, how his wife was his biggest supporter, using small banks for 100% financing, networking and more. He is definitely building wealth through real estate  Lamon's IG-https://www.instagram.com/1_800hust...

The FHA 203K loan is a great way to build equity by buying the worse home on the block and fixing it up by rolling the rehab costs into the loan.  This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer Education Email: hello@houserichsh...

I talked to Rod Stanback about this journey from investor to starting his own hard money lending company Flip Funding. How hard money lending works, who hard money is best for and how to get started in the business. This black entreprenuer is build a lasting legacy and black wealth through real estate. Rod's IG -https://www.instagram.com/rod_hardmoney/ Link tree- https://linktr.ee/RodStanback...

In this weeks video I breakdown how a gift of equity works. This is a tool to keep real estate in the family essentially for free. You use the equity in the property to buy the property. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer...

This is a crash course on what to do in order to buy your 1st home. In this podcast I break down the mental and process of preparing to become a home owner to getting the keys. We talk about   *what to think about before you talk to a lender and realtor  *the 3 things your lender evaluates   *should you talk to a lender or realtors 1st  *different loan types   I Wanted to...

Man I have bunch of these stories where folks have for lack of a batter terms just waisted my time. These three scenarios were moving to Japan 3 days after going under contract, the person not actually having a job & some one just deciding to pay cash the day of closing.  This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth throu...

In this episode I talk with Stephen Lewis the co-owner of Ink Realty about transitioning from an underwriter to a realtor. Building a tech platform, Homematchx, to connect to connect buyers and sellers and bring more transparency to the home buying process. We also discuss creative ways to win deals in this market and building a home from scratch. This black entrepreneur is building generational w...

In this video I break down the pros and cons of a home equity line of credit versus a cash-out refi so you can help determine which one may better fit your needs. These are both great ways to pull equity out of your home. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth a...

This episode is a must listen for anyone looking to grow their presence on social media. I talk to  @Safiya Martin  about transitioning from a career in the medical field to becoming Philly's #1 mobile notary. We also discuss marketing, her journey into residential real estate and how to actually grow your brand on YouTube and TikTok.   Safiya's TikTok -https://www.tiktok.com/@...

Equifax, Experian and TransUnion are making sweeping changes to how they report medical debt in collections beginning this summer. How this impacts the home buying process…   This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer Educat...

Here's a free tutorial on how to remove inquires from your credit report. The steps are at the 11 min mark but you should watch the whole video. How inquires actually impact your credit/FICO score and how they impact you qualifying for a mortgage. This is a longer more detailed version of the video I did a few months back. This is a show for millennial first time home buyers looking to buy their 1...

Did you know 60% of hotels are actually owned by individuals. You don’t have to be a rich guy with a monocle. You do need to bring some money to the table but there are other factors that are equally important. This black female entrepreneur is striving to increase the hotel ownership rate in the black community. Tune into this week’s episode to find out what they are. Davonne’s IG - https://www.i...

So bring awareness is great but unless you have a time machine. We need to take action to do better and make other so better in the future. We’ll talk about interviewing you lender, are brokers better than direct lender and a little bit more. In full disclosure I worked for Wells Fargo about 4 yrs ago. This is a show for millennial first time home buyers looking to buy their 1st home and build gen...

This is the best way to house hack in order to build generational wealth. Apply this theory using an FHA or VA loan to start your real estate portfolio and it will set you up for success. Then you get the dream home. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and cl...

Tyron McDaniel of Houston Vintage Homes breaks down how to take a lot form scratch and build a home on it. The type of lot he mentioned to buy was very eye opening.  We also discuss how to keep your contractor on schedule, what adds value to a home and dive into why gentrification is a good thing and it helps to build wealth in the black community.  IG-https://www.instagram.com/houstonvi...

Yes you can repair you own credit just like you could change your own oil. I have no issue with credit repair but their are a lot of bogus people out there trying to take advantage of other people's lack of knowledge.  If you're looking for tips to fix your credit in order to become a home owners this episode is for you. This is a show for millennial first time home buyers looking to buy thei...

This week I talk to Phillip Washing Jr a black entrepreneur and the Chief Investment Officer (and owner) of Stone Hill Wealth Management & host of one of the top investing podcasts "Wealth Building Made Simple". If you want to stat investing or just wants to add some more tools to your portfolio this is the episode for you. Real estate isn't the only way to build wealth see this episode  ...

In this week's topic I break down how to go from 0 - 12 doors in 12 months using the FHA loan.  This is how to use the FHA guidelines and 1 loophole to your advantage to build your real estate portfolio. If you have questions about house hacking this is the episode for you. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through...

In this episode I sit down with black real estate investors Eric and Jamiel of the monopoly bros.  They are two investors from Detroit met at a networking event in Detroit and after purchasing single family properties decided to make the leap into the commercial space. They have purchased a 52-unit building in Detroit and are looking to scale their portfolio even more.  They did it throu...

You need to be interviewing your mortgage lender.  For instance matching quotes, down payment assistance, turn times and programs. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer Education Email: hello@houserichshow.com First Tim...

In this episode I speaking Scottie Smith II about buying and renovating his 1st home at 19, becoming a broker at 21, hosting Dallas 1st ever foreclosure bus tour, developing affordable housing is Dallas and his new project a 15+ cabin lake side retreat, The Retreat @ Lake Noire, which is just 90 miles outside of Dallas. This black entrepreneur is building black generational wealth through real est...

JP Morgan Chase's program allows up to $5000 towards your cash to close, check the episode for the details and let me know what questions you have.   This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. Home Buyer Education Email: hello@houseric...

In this week's episode I talk to Sam Dolciné of Black Real Estate Dialogue (BRED) and getting into podcasting and hitting 200k downloads. Building relationships online, out of state investing and his online BRED Community. This black entrepreneur supports uses his platorm to promotes the stories of other real estate investors.  BRED IG- https://www.instagram.com/blackrealestatedialogue/ LinkT...

Per federal guidelines there is a minimum criteria borrowers must meet to qualify for home loans, however lenders are free to implementing additional guidelines known as mortgage overlays to decrease the likelihood that borrowers will default on their home loan. This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Rea...