On this episode of Real Estate Talk I am having a conversation with Lisa Andrews. She is with Golden Dog Title and Trust. We’ll be discussing what’s required to get your property from a contract to a closing table. 

I’ve known Lisa for four or five years know. She’s incredibly resources regarding title insurance. Lisa has 20 years of experience with title insurance. She also has a background in mortgage and banking. Now she is the Director of Sales for Golden Dog Title and Trust. Lisa excels at giving customers a professional level of service. She has a long list of awards and accolades.

Lis has been in Jacksonville since 2005and loves to travel and spend time with her friends and family. During this episode, Lisa and I discuss a variety of subjects. Lisa provides insight into the world of insurance, sharing what the role of a title company is, how to determine who to hire, what exactly title insurance is and why it’s need, who typically pays for title insurance and so much more. 

We also talk about wire fraud, title commitment and customary fees. For all the insurance insight make sure to check out this episode of Real Estate Talk with the Lisa Andrews. It’s definitely one you don’t want to miss.

Enjoy the show!

IN THIS EPISODE:

CONTACT:

Website: goldendogtitle.com

Phone: 904-476-1966

QUOTES:

Show Notes

On this episode of Real Estate Talk I am talking with a local celebrity, Wally Conway. Wally is the owner of Home Pro Inspections. He is everywhere, including HGTV where he is a featured expert on a show called House Detective. Wally is also the co-host of the Do It Yourself network series called Finders Fixer and weekly host of the Home and Garden Show. In addition, Wally also has a book called Home Inspection Secrets of a Happy Home Inspector. That’s just a snippet of Wally life. To date he has inspected over 5,000 homes. 

Since starting in 1994, the industry has changed quite a bit. For starters, the use of technology had vastly transformed. Reports use to be hand written and a flash light was the basic tool used to complete an inspection. Now drones and infrared cameras are commonly used. Not only has technology changed, but the expectations of customers has also changed. Back in the 90s, you typically had to explain to someone what an expectation was. Now people’s expectations are way higher, sometimes unattainable. It’s impossible to see what’s invisible and it’s also impossible to predict the future.

When it comes to hiring an inspector, there are certain questions you should be asking. The most important and first question you should ask is “what is your limit of liability should you be negligent and miss something?” It’s important that a homebuyer is protected. 

During this episode, Wally and I talk about a variety of topics, including the importance of pre listing inspections. It’s proven that a pre listing inspection makes you more money, saves you more money and negates potential seller issues and surprises. We also talk about Wally’s story, how he got into inspections, the best way to hire a home inspector and what’s next for Wally and Home Inspection Pros.

ENJOY THIS SHOW!

IN THIS EPISODE:

CONTACT:

Website: gohomepro.com

QUOTES:

Greg Brooks – House Flipping or Flopping

In this episode, Greg Brooks joins in to discuss flipping houses. First, he learned the ins and outs of mortgages. Then one day, a guy called him and said he knew about a relationship Greg had with the bank. His first flip was sold to a guy he didn’t even know, and he was called to help him negotiate with the bank. Later, the guy called back saying he was ready to do it again. Right now is the most dangerous time to get into this industry. The margins are very thin because the wholesale side has become extremely expensive.  

Real estate is all about location, and this is what Greg looks for when buying a house. You also have to look at some other factors like the exterior of the home. If the exterior of the home is unkempt, you can assume the inside of the house is even worse. Days of buying homes on auction websites are done. Greg uses cash on hand to purchase a home he is going to flip. If you are using a private investor or another source of money, be cautious that you are not spending too much in interest. 

On average, Greg is working on twelve to fifteen homes at any given time. When Greg first started in the late 90s, there were a lot more mobile homes on the market. If the mobile home is not too old, you can get a decent return on a flip. Greg has crews that work exclusively for him, and some that work for him part-time when needed. Occasionally, they build homes from scratch; however, there is a lot of competition in this, and the expenses are enormous. 

The hardest part of rehab is the unknown. Greg suggests not buying a home that is going to be a lot of work. Light rehab is what a house flipper should be aiming for. For instance, changing out light fixtures, vanities, and painting. The goal is to make money. If you are tearing out bathrooms and completely redoing them, then your return may not be as high. The most expensive room in the house to rehab is the master bathroom. Sometimes plumbing will need to be moved, and that can be an expensive and lengthy endeavor. Greg buys houses 1980 or newer because the plumbing and electrical wiring are old and out-of-date if it was built before then.

Enjoy the show!

IN THIS EPISODE:

QUOTES:

Vicky Zelen - Zelen Risk Solutions

In this episode, Vicky Zelen of Zelen Risk Solutions is here. She is an expert at writing property and causality insurance. Zelen Risk Solutions will analyze your business and hand-select the very best coverage for the very best rate. As your independent insurance agent, they will service your account with a personal touch most insurance agencies are either unable or unwilling to provide. Whether you need business or personal insurance in Jacksonville, Florida, they have you covered! 

Keep hurricane season in mind. A homeowner should have flood insurance, even if you are not in a flood zone. Of course, you want to have homeowner insurance. When a hurricane is en route to your area, insurance companies shut down, and you will not be able to add any type of coverage to your plan. Call your agent now, review your insurance coverage, and look at your hurricane deductible. More and more insurance companies are adding flood onto homeowner insurance; you will have only one deductible and it will all be on one policy. If you want to get flood insurance through the National Flood Insurance Program, there is a thirty-day waiting period. 

Some items that may not be included with your insurance is getting a hotel when you need to evacuate, food spoilage, and falling trees. The insurance company will not pay to have those trees cut or moved at all. Also, insurance companies do not hold you responsible if a tree on your yard falls and damages your neighbor’s home. If you want to, you can cut your tree at your property line and only handle the part that is on your property. 

A massive misunderstanding about insurance is the water damage clause. Any rising water is considered a flood. It can be a retention pond that rises and damages your property. If a pipe bursts in the home, it is considered water damage coverage. Some people have it with their insurance, and others do not. In addition, if a contractor is in your home and you get injured, or there is damage, make sure you have their general liability insurance. Do not ever sign an “Assignment of Benefits” from a contractor. It means you are signing over your rights as a homeowner to the contractor. The last piece of advice Vicky wants us to know is the most essential coverage you can buy is uninsured motorist coverage. A lot of people in the state of Florida are hitting and running. If anyone gets hurt in a hit-and-run, your uninsured motorist coverage will cover your family.

Enjoy the show!

IN THIS EPISODE:

CONTACT VICKY:

Website: http://zelenrisksolutions.com

Call: (904) 262-8080

Email: [email protected]

QUOTES:

In this episode, Len Johnson discusses what an appraisal is; an appraisal is one person’s opinion but is based on specific guidelines. Appraisers do not take figures out of the sky; they figure in square feet and other amenities. An appraisal will give you the market value, getting your home pre-appraised will ensure you are getting the correct value. You do not want to list the house too high or too low. Realtors are excellent at marketing, but not at valuation. Your appraiser will know what the homes around your area have sold for. For example, Len did an appraisal, and the homeowner did not understand why her house was not worth the same as her neighbors. After Len’s appraisal, the homeowner found out that her home was 400 square feet smaller than the others. 

Most realtors get the listing price wrong; they are surprised at the square footage adjustments and pricing with the comparable. Realtors never drive by the comparable and do not know how to make the adjustments. Also, realtors tend to listen to the homeowner, and the homeowner always thinks their listing is worth more than it truly is. Then, Len gives examples of how to add value to your home. For instance, Len says a homeowner had grapevine wall border in their kitchen. Len explained the wall border was not what people are looking for, you want to make your house most presentable to the largest selection of potential buyers. Another homeowner mistake was when every room in the house was painted grey. 

Later, Len explains what a purchase short is. A purchase short is when a home is under contract, and the appraisal comes short of the contract price. The appraiser knows what the contract price is before appraising. If you believe the appraisal is wrong, there is always the option to rebuttal and get the home looked at again. The bank is the final decision on what the appraisal will be. If the bank feels that the appraisal is not correct, they can review it with another appraiser who may or may not come up with their own value. Len does reviews, he goes through the entire appraisal and often comes up with a completely different value. Another option is to get a new appraiser. 

Enjoy the show!

IN THIS EPISODE:

CONTACT LEN:

Website: https://www.johnsonappraisal.com

Call: 480-782-9291 

E-mail: johnsonappraisal[email protected]

QUOTES:

In this episode, Christy McCarthy joins the show to discuss interior design and decorating services. While working on her undergrad in business, Christy started to dream of utilizing her roots and inspiring people through making a house a home. She switched her degree to interior design and attended the Harrington School of Design in Chicago, IL. In 2006, Christy started her business Interiors Revitalized in Jacksonville, FL. This is where she has had the enjoyable experience to bring her humble beginnings to people of all walks of life.

One of the biggest mistakes people make when home staging is painting and decorating based on personal preference. People do not want a job when they buy a house, they want it to be move-in ready. Floors and walls are the most significant aspects people look at when purchasing a home. Carpet is no longer on trend, so Christy suggests sticking with the wood look for flooring. Depending on the price of the home, you may want to get the wood look on every surface of the home, including the bedroom. Another tip for staging the home is to make everything look brand new. For instance, adding mulch, power washing the home, and painting the door will make things look fresh and ready for a move-in.

Then, Christy explains the difference between interior design and staging. Interior design is all about you and what you want to look at when you come home for the day. Staging is budget friendly, and you want it to be something that can be pleasing to everyone. Christy says to remove family photos from the wall, declutter, and make small purchases for things that could be used in the future. The must-do rooms for staging are the rooms that get used most. Master bedrooms, kitchens, dining spaces, and bathrooms are essential. Guest bedrooms and formal dining rooms are not necessary for staging, but many people opt for it. If you have a unique space, staging will make it come to life. Staged homes get sold for more than homes in the neighborhood that were not staged. Interiors Revitalized pride themselves on being budget friendly and requiring a minimal investment to stage your home. 

Enjoy the show!

IN THIS EPISODE:

CONTACT LEN:

Website: https://interiorsrevitalized.com

Call: (904) 625-2214

E-mail: [email protected]

QUOTES:

Kim Stanley Insurance and Financial Services, Inc.

In this episode, Kim Stanley discusses the broad range of insurance and investment programs provided by her business, Kim Stanley Insurance and Financial Services, Inc. Kim reveals how to find the right insurance and financial consultant. Sit down and ask what their experience level is with and if they are using it themselves. If the person can explain their financial plan, then you know they are following the same guidance they are suggesting. Everyone gets duped. For example, Kim signed papers with a gentleman to turn over all of her brokerage accounts. Later, Kim did a FINRA report search, and she learned how he had a lot of judgments against him and was currently in bankruptcy. Most people would not want a financial consultant who is in bankruptcy!  

The first products a young person should buy are life insurance and mortgage protection insurance. This is term insurance, as you pay down your mortgage, the death benefit decreases even if the cost of the mortgage stays the same going forward. It is in your best interest to shop it and use a true broker. This way, the survivor who inherits the asset will have options to choose from. Another insurance Kim recommends is disability insurance, in the event something happens, and you are unable to work, it will give you a pot of money until you can get back up on your feet. If you are never able to get back on your feet, it will get you through until social security kicks in.

Then, Kim explains how to use your Roth IRA as an insurance policy. It can be a slush fund throughout your life. The government says you can put away a certain amount of money, and after five years of contributing if anything happens in your world, you can get into your Roth IRA penalty-free and without taxes. Your slush fund can be invested in the market or sit in a bank account. If you are invested in the market, you can use that money how you chose moving forward. After age 59.5, everything in there is 100% tax-free. Later, Kim advises on writing your will, setting up a trust, and taking care of pets after death.

Enjoy the show!

IN THIS EPISODE:

CONTACT KIM:

Website: https://kimstanleyinsurance.com

Call: (904) 247-6752

E-mail: [email protected]

LINKS MENTIONED:

FINRA: https://brokercheck.finra.org

QUOTES:

Sunland Acres

In this episode, Lynn Lamoureux discusses the importance of finding a safe and clean environment to board your pet. Lynn is a Jacksonville native and has been involved in the Pet Industry since 1976; she loves making a difference for pets and their people! Lynn has a team of animal lovers; they give her the flexibility to be out for short periods. For example, her husband, James Lamoureux is an Internationally Certified Professional Animal Care Provider. He took a series of classes learning things about infectious diseases, animal management, and nutrition. Each of her team members is CPR certified and know the signs to look for when an animal is in distress. The best part of working with Sunland Acres is seeing people reunite with their fur babies after being on vacation.

Lynn highly recommends having your pet come and visit the kennel before booking a stay. At Sunland Acres, they do not charge for your first daytime stay because it will let the dog get acquainted with the facility. People drop off their pets because of business trips, home remodels, and when company is in town. Some things you should look for when choosing a kennel is knowing who exactly will be taking care of your pet, where they are going to stay, and how will the animals be treated. Then, Lynn discusses the importance of adopting and fostering pets. If you are unable to home a pet of your own, there are lots of organizations that could use financial donations to keep their businesses running. 

Later, Lynn reveals her plan for expanding Sunland Kennels. There are a lot of dog events and sports she plans on working with to help people engage with their pets. One thing coming up is called a Barn Hunt, it will be held right in their garage on June 9th. Live rats will be placed inside of a cylinder tube with air holes, the dog has to find the tube hidden inside of hay bales. As the dogs move up in the competition, it gets even more challenging!  

Enjoy the show!

IN THIS EPISODE:

RESOURCES MENTIONED: 

Green Dog Spa

Sunland Acres

American Kennel Club

Barn Hunt at Sunland Acres

QUOTES: