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Welcome back to take 10 Lisa Wiles here.

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Corey Frills.

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And we will start with the market

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because it never ceases to amaze us.

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Yeah, yeah, it never ceases to amaze us.

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Interest rates are kind of

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in a sideways trading power,

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traitor sideways trading pattern.

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So easy for you to say.

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Yeah, everything about it's hard right now.

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Meaning they're kind of staying the same.

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So like the average 30 year fix is about 7.04% right now,

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according to mortgage news daily.

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Yep.

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So, and there is really no thing we're looking to

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for them to get better.

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So this is the market that we're in, right?

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I do think that housing, we have some signs

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that housing is gonna be better in 2025.

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Better how?

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I think we'll have more transactions,

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which is good for everybody.

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Now, why would people do that when the rates are high?

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I think there's a lot of people in my age range,

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so millennials in the later side of millennials

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that are, we're just done.

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Like I got two kids now

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and my starter house just doesn't work anymore.

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Just gotta do something about it.

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My wife wants a house, so this is true.

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My wife wants a house so bad she can't stand it.

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I can only hold her off so long.

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And I think we're at that point where it's like

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everybody's done waiting.

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They're done waiting on the election.

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They're done waiting on rates to go down.

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They're ready to take action.

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So I think that's part of it.

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The other reason that I think that it may get that way

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is like Home Depot stock is doing really well right now

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post-election.

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And so when you think about the stock market,

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think about Vegas and sports events.

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You know how Vegas is always super close?

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Like they can predict the score within points.

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The stock market's very similar.

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This is just like really high paid betters.

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And when they bet on Home Depot,

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they're betting that housing is gonna do well.

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So yeah, I see some signs.

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That's a cool correlation.

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Yeah, I just got that alert from CNBC and I'm like,

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oh, that's good.

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So I do think housing's gonna be much better in 2025.

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Rates are going to go down in 2025.

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The most recent forecast that I've seen

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is they're gonna swing anywhere from seven and a quarter

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on the high side.

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We're not far from that now.

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So that's good news.

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To 575 on the low side is what housing wires forecast is.

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But with rates, I mean, with all of that taken into account,

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I think the most important thing that you did mention,

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and this is something I saw as a trend,

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our volume went way up, was it May or June this year?

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And the rates were not good.

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They were actually getting worse.

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That's right.

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At that time.

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And so...

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The high point was July.

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Yeah, they were actually in the process of getting worse

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and then people took action.

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And like you said, people get fed up

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and they're just saying it's time to move forward.

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That's right.

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Like rates be damned.

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That's right.

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All right, so hang in there with us

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and we're gonna be obviously tracking it

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and coming to you weekly on that kind of stuff.

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Around that, let's get a little creative

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with a couple really cool creative products

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that we have that we may have talked about in brief passing,

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but we have done some of these recently

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and a couple of new things that have just rolled out

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that we wanna give you as tools for your little tool belt

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that you go out there as you be selling.

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So one of the things, and we have a closing this week on it,

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is renovation loan on the cutest little house

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but needs renovation for an investor.

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Yes, investment property, renovation loan, 15% down.

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Let's go.

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Like, and this is a 30 year fixed mortgage.

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This is not some bank like five year arm

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or floating rate kind of thing.

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This is a 30 year fixed conventional,

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15% down investment reno deal.

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So on the down payment, here's how reno works,

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just high level overview, all right?

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So you have the price of the house

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and then you have the amount of renovation

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and the appraiser goes out to the property

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and looks at what does it appraise for now

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and what will it appraise for in the future

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after you do these specific renovations.

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Comes up with the future value of that home

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and the transaction is based off of that,

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but for the actual cash out of pocket,

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it's purchase price plus renovations, 15% of that.

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That's right.

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So what's correct and it's not necessarily like,

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let's say you put 30 into a house,

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you bought it for 200, put 30 into it,

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it's gonna be worth three,

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you don't have to put 15% down on three,

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15% down on 230.

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Correct.

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Yeah, awesome tool.

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I don't know why more people aren't using it.

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Especially for the high side

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that this investor is going to see

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after the renovations are complete

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and to be able to get in without having to purchase a property

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and then shovel out another 100,000 out of their pocket

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to renovate it.

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And it's not necessarily a flip.

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This could be a buy and hold property.

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That's right.

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We could keep this thing and rent it out.

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30 year fix.

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Yeah, that's right.

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So awesome product, I think is super underrated.

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I love seeing, we got that approval this morning.

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I love seeing that.

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Yeah, it's closing.

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Yeah.

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Another thing is non-QM.

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I don't know if you've ever heard of that.

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It is basically, ooh, dirty word,

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the old subprime, but way better.

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Meaning.

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Re-vamped.

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Re-vamped.

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So we call it now non-QM.

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And it's actually, it's underwritten with documents.

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Like subprime was just like, hey, I make 80,000 a month

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and I have 100,000 in the bank and you're like,

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stamp, here's your loan.

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The ninja loan.

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Not a good loan.

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No asset, no job.

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Big problem, created a big problem.

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We don't do that, but we use alternative documentation

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to prevent income.

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And so a couple examples of this would be

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for an investment property,

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we could do what's called a DSCR loan.

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That's debt service coverage ratio.

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What you need to know is all we care about

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is the property the investor is buying.

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Does the rent forecasted for that house make the payment?

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If it does, good to go.

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And you guys, the rates actually mirror

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regular investment rates.

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They're not that different.

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So sometimes when we have clients that have

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20 different businesses and complicated returns

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and showing losses over here

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and they just don't wanna get into all that paperwork,

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we've been going DSCR with them

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and that rate is pretty much a mirror image

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of a freddy or fanny rate on an investment property,

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which blows my mind.

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Yep, very comparable, very clean.

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And so much easier on your client.

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We're not easier to do.

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The one thing that is different

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is that you don't get your approval

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until the appraisal's back.

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Because obviously that's the only thing we're looking at.

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And so, you know, that house,

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hopefully it has some past rental history.

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Hopefully we've looked at some comps up front

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just to make sure that it will cover the note.

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But all in all, what a great product.

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Awesome product.

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Another example of this would be

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for self-employed borrowers,

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we can do something called a bank statement loan.

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So if you've got a really creative accountant

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that writes off all your losses, that's great.

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We are all about being efficient with your taxes.

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Yep.

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Right.

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But it makes it hard to qualify for a loan.

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We can actually get 12 months or 24 months

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of bank statements from the business owner.

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Look at the cash flow coming in

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and use that as qualifying income.

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Pretty cool.

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So, super cool.

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And then one more option.

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I like this one.

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There is a 1099 program.

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Let's go.

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And so, maybe you're a real estate agent.

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You could be.

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If you're listening to this.

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With a super creative accountant.

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That's great.

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Love that.

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Also, it could be that.

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We can actually use your 1099

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and then deduct an expense ratio from it.

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I've seen 15%.

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There could be, I don't know if that could range, right?

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But we can actually use that.

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Your 1099 from the real estate brokerage.

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Deduct an expense ratio from it.

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And then use that as qualifying income.

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That is the income.

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Huge deal.

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So, as a company, we're starting to do a lot of these.

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And we've talked to other originators across the country.

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Yep.

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That have increased their volume 20, 30%

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just off of these types of loans themselves.

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I mean, how would you like it as a real estate agent

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to be able to use a 1099 to qualify

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and go purchase additional investment properties

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and then actually file your return the way you want to?

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That's right.

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I mean, why wouldn't you do that?

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That's right.

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And so you're not, yes, the interest rate

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may be higher than a conventional loan.

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But wait, is it more than what you would pay in taxes?

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Right.

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If you had just filed all that income?

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That's right.

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And not actually taking the ride-offs

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that you can take per the tax code.

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Just put them side by side and look at it.

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There you go.

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We're going to wrap up.

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One thing that we do want to put out there

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that we're really excited about, I think, business planning

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or what a, I think that's a dirty word.

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Yeah.

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It's routine.

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We do the same crap every year.

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Yeah.

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Come and see our business planning, whatever.

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We're not doing that this year.

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This year we have a whole new idea.

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And we want to focus on your personal life and balance.

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And we have a really cool concept

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that we're pulling together that we want to invite you to.

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That's right.

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Stay tuned.

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I heard a quote a long time ago that said,

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before you decide what you want to do,

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you need to determine who you want to be.

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So we're going to take some time exploring who you want

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to be as a person, as a family, as an employer, whatever.

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And then we're going to back into now,

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what do we need to do to accomplish that in our business?

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Yep.

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Super simple.

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Your business will support your balanced life.

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And not one person ever said, I wish I'd worked more.

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Never.

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Right?

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So no.

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You wish you would climb the Mount Kilimanjaro

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with your children and made them hike up and have a picnic.

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And be happy about it.

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And be happy about it.

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We're working on the weekends.

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That's right.

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After hours at dltwgroup.com, you can get us there.

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Happy Thanksgiving from all of us to you.

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We're so grateful for you.

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It's been a really difficult year.

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And thanks to you, we have had a decent year.

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Pretty good year.

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And follow us on social so you can see how grateful we are.

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Yes, we'll have some grateful content coming out.

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That's right.

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Yes.

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Thank you.

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Much love.