28) Setting 2024 Goals & Why 15-Year Mortgages Suck

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, Lauren and Alan as well as their special guest, Brian Orr, discuss blog 127, which is about why a 30-year mortgage is superior. Reason number 1 is because it’s the best inflation hedge that exists! Alan used the Snickers bar at a gas station as an analogy to explain why getting a 30-year mortgage is superior rather than getting a 15-year mortgage, especially with the inflation that’s happening right now. Reason number 2 is that you can control the timing of the sale of your property. If 5 years from now you somehow can no longer qualify for a mortgage, maybe because your income dries up or something terrible happens, you’ll be stuck because your balloon is due. A 30-year mortgage prevents you from being at the whims of the economy. Reason number 3 is when you get a 15-year fixed instead of a 30-year fixed, your debt is higher that goes to DTI. This blog is trying to teach that a 30-year fixed is superior in many cases and pretty much in every case.

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Mortgage Minute: Jasmine answers the question: What is Private Mortgage Insurance and which loans have it?

Sponsored by: Jasmine Mortgage Team https://www.jasminemortgageteam.com/

Real Estate Is Easy Interview

Lauren interviews Clint Murphy, a real estate CFO. He is also a content creator, he podcast host, newsletter and fantasy writer, husband, and father. Lauren asked Clint how he set goals. Clint loves to take one concept and apply it beginning with the end in mind to it. It will be a 3-step formula. It’s thinking about what you want in life, what it takes to get it, and doing the work on a daily basis until you achieve it. Lauren shares that she reached more than her set goal would have been, had she been setting goals when she started. That's why she asks Clint how to when to change the end goal. Clint advises that you must start to set it less as a goal or less as a definable “I'll hit this” and do it more as a roadmap. Clint is a proponent of SMART goals. Lauren also asks how you should be measuring the progress towards your goals. Clint explains using leading and lagging indicators in reaching a goal. Lauren asks Clint’s personal real estate goals for his personal portfolio. Finally, he makes real estate easy by buying real estate over time in the path of progress.

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Guest Host Segment

Guest Host, Brian, talks about the litigation against the national association of realtors (NAR). This is an update from episode 15. The ruling has come in. What’s going to happen with the real estate agents and how they are going to stay competitive? Are real estate agents going to try to do something different? Your hosts share their insights about the issue and give advice about it.

Vyzer Wealth Building Break: Litan answers the question: What do the rich think about budgets?

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