The Perfect Property Podcast: An Atlanta Real Estate Guide

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Summary: In this episode of The Perfect Property, our host Juli chats with Rick Hale, the operating partner for Juli’s office. Rick owns multiple Keller Williams market centers and has had thousands and thousands of real estate closings over the decades he's been in the business. He’s been selling in Atlanta since 1996, works with a team of nine active agents and staff, and is the operating partner for six real estate offices. 

Rick walks us through ten reasons to buy a house now! Those reasons include tax deductions, pride in home ownership, forced savings, and bank credibility. At the end, he and Juli discuss Atlanta’s growth and Rick gives his perspective on whether or not a shift is coming in the Atlanta market. 
 

What You’ll Learn: 

·         The excitement of buyers buying first-time homes (1:25)

·         Reason #1: Leverage (3:54)

·         Reason #2: Mortgage interest is tax-deductible (5:31)

·         Reason #3: Appreciation potential (6:51)

·         Reason #4: Pride in home ownership (9:20)

·         Reason #5: No tax on capital gains (10:20)

·         Reason #6: 1031 exchanges (11:25)

·         Reason #7: Forced savings (12:00)

·         Reason #8: Bank credibility (15:11)

·         Reason #9: Expanding retirement through rental options (16:28) 

·         Reason #10: Social credibility (18:35)

·         Advice for Atlanta’s growth (20:45)

·         Are we heading into a shift in Atlanta? (22:50)
 
 

Key Points:
 
 “It’s very uncommon for people to regret making a real estate purchase.”

“All of the interest paid along the way is deductible.”

“Just saving money isn’t really leveraging your money like you can with a real estate purchase.”

“The only people that I’ve found that lose money in real estate are people that have to sell at the wrong time. If you have the capacity to carry that property through the downturns, inevitably the trend line that’s well over 100 years old always favors ownership, and you’ll always create a win over time.”

“Even then if you don’t live in it, there’s still capacity with investment properties, commercial properties, and real estate where you don’t live in, you can upgrade and move into other properties and as long as you transfer that in a 1031, legal way, you can push all your gains into another property and basically defer the taxes again.”

“The ability to go to my bank and borrow money is contingent on two things: one is assets and the other is how many liabilities I have. And my credibility is directly correlated to my ability to borrow money and pay it back effectively.”

“My advice is: start to build credibility through asset acquisition and repayment.”

“If you bought ten rental properties and you held onto them for twenty years and accelerated your payment schedule and paid them all off, the likelihood of you having a multimillion-dollar asset in your pocket is extreme.”

“Real estate doesn’t suffer the same volatility that stocks do.”

Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

Summary: In this episode of The Perfect Property, Juli talks with Eric Rothberg from Northpointe Bank. Eric, a lender in the Atlanta area, has 28 years of lending experience. Plus, he started as an underwriter so he also has a lot of technical knowledge to bring to his clients.

In this episode, Juli and Eric talk all about mortgages. You’ll hear about the best practices when it comes to shopping for a mortgage, common mistakes that buyers make, and what “locking in a rate” really means. Eric also goes over how to handle cash deposits, buying a mortgage point, and why you should use a local lender. Finally, he goes over what you can expect if you choose to work with Northpointe Mortgage.
 

What You’ll Learn: 

·         What are the best practices for mortgage shopping? (0:18)

·         Three common mistakes buyers make (2:06)

·         How long do you have to have cash deposits in the bank to count them? (4:45)

·         How and why rates change (6:00)

·         What does it mean to lock in a rate? (8:49)

·         The best advice for someone purchasing in the next 30, 60, or 90 days (10:47)

·         Stories from 28 years as a lender (12:53)

·         Buying a mortgage point (14:15)

·         Using a local lender (18:16)

·         Surprise fees (21:06)

·         Eric’s quickest close on a loan (23:00)

·         What can you expect from Northpointe Mortgage? (23:22)

 Key Points:
 
 “The most important thing when you do your mortgage shopping is to start the preapproval process as quickly as possible.”

 “Cash deposits are hard to trail and source, so we always try to tell our buyers not to do cash deposits.”

“Rates can change more than once a day if the market does shift. The market is tied to the bond market, so as the bond market does change, if it’s a drastic change whether it’s positive or negative, the rates will improve or worsen depending on how that market is going and that can happen a few times a day.”

“When you lock in the rate that does mean your rate is locked and typically if rates improve you don’t typically get a better interest rate, but there are some lenders like us that will renegotiate the rate to assist with the fact that the market changes.”

“Mortgage points is tied in with the rate and also that’s the commission or income for the lender or the mortgage company or bank. There are mortgage companies that automatically will charge a 1% origination fee as their cost and that is their cost to do the loan.”

“A lot of companies like us will do a zero origination fee loan where you don’t have to pay that point and that way you’re enabled to save in your closing costs and keep your costs down.”

“The midsize lender which is where I work, we do have the ability to close loans a little quicker.”

“The local lender also tends to be a little more available to the realtor and the client when they do have the need for a preapproval letter or an estimate.”

Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

Summary: 

In this episode of The Perfect Property, Juli talks about homeowner’s insurance with Clifton Alston, an insurance agent with Allstate. While he has been involved in the insurance business all his life, Clifton has 10 years of formal insurance experience, both selling insurance as well as doing seminars. He has worked with thousands of clients and has lots of tips for getting great coverage for your biggest asset: your home. 

Juli and Clifton talk about the basics of homeowner’s insurance like why it’s important and why you need to have an agent. Clifton also goes over life insurance, how jewelry is covered, bundling with auto insurance, and where your pets come into play! At the end, Clifton shares important information about insuring townhomes and condos, which can be different from insuring single-family homes.

What You’ll Learn: 

·         Why is homeowner’s insurance important? (1:03)

·         Why is it important to have an insurance agent? (1:45)

·         Advice for people who want to buy their first home (2:48)

·         The craziest claim Clifton has had (3:30)

·         How is jewelry covered with a home insurance policy? (5:47)

·         What about water backup coverage? (7:28)

·         Bundling auto and homeowner’s insurance (12:29)

·         What about life insurance? (13:18)

·         Generational wealth (16:26)

·         Pets and homeowner’s insurance (17:34)

·         Typical deductibles for homeowner’s insurance (19:02)

·         What is a replacement cost? (19:49)

·         What happens if someone robs you? (22:24)

·         What causes homeowner’s insurance to go up? (25:38)

·         Catastrophic events (27:44)

·         Insuring condos and townhomes (29:54)

Key Points:

“Homeowner’s insurance is important because, number one, you’re protecting the biggest investment, probably the biggest asset you have.”

“The mortgage company is going to require [insurance]. Unless you’re buying a home in cash, you’re going to have to have it.”
 
 “Having prior property insurance is always going to keep your rates low when you go to buy that home and you have to get homeowners insurance.”

“We are septic tank heavy in a lot of areas in Atlanta and not everywhere in the country has them.”

“We can do the policy just with the homeowner’s insurance but there’s about a 20% discount you’re going to miss out on when you don’t bundle your auto with the homeowners insurance.”

“Deductibles can range anywhere from the minimum at $1,000 up to 5% percent of the dwelling coverage.”

“If something happens to your home, we need to know: what is it going to cost Allstate to rebuild your home from the ground up?”

“I tell my clients to stand in one corner of each room and take a picture of the whole room. Save it on their phone. If they don’t want to save it on their phone, email it to me and I can save it to their file on our system. That way if something happens and if someone breaks into the home or if there’s a catastrophic event where you have to replace everything, we know what was in the home.”

 Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

Summary: 
 
 In this episode of The Perfect Property, Juli talks with CPA John Mangham. John, known as “The 1031 Guy,” has been in real estate in Atlanta since the mid-80s. He is a fulltime real estate broker and knows all about the topic of this episode: opportunity zones. 

Juli and John talk about what opportunity zones are and what a great investment they can be! John explains where the idea of opportunity zones came from and how these investments can benefit  homeowners and investors. He also covers 1031 exchanges, explaining what they are in layman’s terms and how they relate to opportunity zones. You’ll also hear John and Juli discuss Atlanta’s market when it comes to opportunity zones.

What You’ll Learn: 

·         What is an opportunity zone? (0:31) 

·         Stock and bonds versus opportunity zones (1:20)

·         Who created the idea of opportunity zones? (2:55)

·         The opportunity zones around Atlanta (3:50)

·         How to find opportunity zones (4:27)

·         What is the benefit for homeowners and investors? (5:37) 

·         Are opportunity zones good for the average house-flipper? (10:17)

·         How have opportunity zones been defined? (11:04)

·         What happened in southwest Atlanta during the downturn? (13:44)

·         Opportunity zones are long-term (20:55)

·         What is a 1031 exchange? (22:31)

·         Are people using crowdfunding for opportunity zones? (30:25) 

·         Looking at the opportunity zone maps (32:40)

·         Who is the perfect candidate to buy in the opportunity zone? (33:34)

Key Points:

“The opportunity zones allow investment coming from non-real estate arenas.”

“There’s never really been an opportunity, so to speak, to transfer money out of the stock market arena into the world of real estate until now. And the incentives that have been put in place for people to transfer their profits from stock market gains is this OZ (opportunity zone) fund opportunity.” 

“The idea is we’re transferring money out of a stock market deal or a stock market sale where there’s profit and those capital gains can be put in opportunity zones.”

“It’s a benefit to investors; it’s a benefit to the risk-takers who choose to invest their money in these blighted or non-performing areas.”

“The benefit to homeowners will not be a direct tax benefit, but rather the benefit that happens if they live in an opportunity zone is that that zone is going to get an injection of capital.”

“30310 became recognized nationally as the second-hardest hit zip code in the country.”

“It has drawn people who have typically been investors in equity and bonds (stock market investors), it has drawn them to start looking at real estate.”

“Making an improvement to what you buy is part of the regulation.”

 Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

Opportunity Zones www.arcgis.com 

John’s Email: [email protected]

Epicity Real Estate Services: www.epicity.com

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

Summary: In this episode of The Perfect Property, Juli St George talks with Lori Schildkraut. Lori is an admin for Perfect Property Real Estate Team and works behind-the-scenes to take clients as smoothly as possible from contract to closing. Originally from New York, Lori has lived in the South for over 25 years and now shares her expertise within the Atlanta real estate market.

With 25 to 50 people involved in a contract after it’s signed, Lori is the one who orchestrates all the moving parts to give the buyer the best and easiest experience possible. Lori and Juli discuss what a contract means, what needs to be done, what the timeline is, and a few common mistakes that most buyers make. They also touch on terminating contracts and a few tips on electronic signing. 
 

What You’ll Learn: 

·         What does Lori do for clients? (0:27)

·         Who is looking at or working on the contract? (2:47)

·         What comes right after signing a contract? (4:09)

·         First tip for buyers: Read your emails! (10:03) 

·         Looking at every contract individually (13:02)

·         Advice to homebuyers (15:43)

·         How often do people terminate contracts? (16:31)

·         How many transactions has Lori worked on? (20:33)

·         The number one mistake people make (21:40)

·         Tips on electronic signing (22:46)

·         How long Lori has been in the south (24:17)

 Key Points:
 
 “I orchestrate everything that’s going on. You sign a contract and immediately the clock starts ticking… There are 25 to 50 people involved in every contract and with everything that’s going on behind the scenes, I’m sitting back and orchestrating it all so that when you sit down at the closing table, you have the best experience that you could possibly have.”

“Part of what I try to bring to the table is some sense of consistency and try to share that with the buyer and the seller so they know what it is they need to look at first, what they need to do first.”

“A home inspection really is just a road map for what else you need to discover during that time period.”

“The main thing is to go with an agent that you feel comfortable with. I think it’s really important to be able to be open and honest with your agents. Sometimes it might be some uncomfortable conversations — I like to call them courageous conversations — that you might need to have. But you have to be able to talk about things and work through them.”

“If you could pay rent on an apartment each month, you certainly can afford to buy a house and own property and hopefully gain equity.”

“If you don’t know what you need to do next or what you need to look at first, ask! Let’s have that conversation.”

Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

Summary: 

JR Prince is the guest on this episode of The Perfect Property. JR is a home inspector with Prospect Inspections and has inspected thousands and thousands of homes in the past eight years. He is a certified home inspector and knows what to look for when it comes to home safety! In this episode, he shares his expertise as well as a few of his own home inspection stories.

JR and Juli chat about the importance of getting a home inspection — both financially and for your safety! JR also talks about the most common code violations, what you need to know about radon testing, and what you should look for when choosing a home inspector. He covers more practical information like the average cost of a home inspection and what you as a buyer can expect to receive at the end of a home inspection. 

What You’ll Learn: 

·         Why is it important to get a home inspection? (0:28)

·         What problems does JR see most often on home inspections? (1:54)

·         What about mold? (3:42)

·         JR’s home inspection horror stories (4:47)

·         Common code violations (7:43)

·         Qualifications to look for when searching for a home inspector (10:19)

·         What you need to know about radon and safety (12:16)

·         Home inspections, wildlife, and rodents (16:01)

·         Gutters and how water should be properly diverted (20:09)

·         What’s important for home buyers to know (22:20)

·         What if something is found during a home inspection? (23:18)

·         What can buyers expect at the end of a home inspection? (24:22)

·         What sort of home inspection report does JR provide to clients? (25:01)

·         The average cost of a home inspection (27:11)

Key Points:
 “It’s important for the buyer to have a home inspection completed so that way they get a better understanding of the overall condition of the property.”

“The average home inspection takes about three hours to complete.”

“What some people would think is a quirk or characteristic of an older home may be signs of a more significant problem that would need further investigation.”

“First and foremost, you want to ask if they’re a certified home inspector.” 

“One of the things that we always counsel our home buyers on is radon. Radon is a natural gas but it’s also a dangerous gas to have in your house at certain levels.”

“Radon is the second-leading cause of lung cancer in the United States.”

“If you haven’t had a radon test, you can go ahead and schedule one at any time.”

“If you haven’t had one previously done, they recommend every two years to have your home tested [for radon].”

“Rats are a major issue. I haven’t seen a home yet that is rodent-proof, especially being inside the perimeter.”

“Your gutters should terminate at least six feet away from the home and be directed away.”

“It’s very important to do the proper maintenance on your home. It can save you thousands in costly repairs down the road.”

“You’ll save thousands in potential damages or potential litigations just based on the fact that you got your home inspected prior to purchasing it.”

Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

In this episode of The Perfect Property, we hear from real estate agent Brandy Wright. Brandy calls Atlanta home and work as a buyer’s agent on Juli’s team. She is client-focused and spends time learning to read the clients and what they want from their new home.   

Juli and Brandy talk about finding the perfect home for their buyers and the role of the buyer’s agent in that process. They also go over how to choose a real estate agent, the process of looking at houses, and the current market in Atlanta.

What You’ll Learn: 

·         What kind of questions a buyer agent asks clients (0:35)

·         Looking at properties and learning what the client wants (1:26)

·         The strategy of offers (3:10)

·         How to choose a real estate agent to work with (5:03)

·         Tips to make an offer more appealing (6:59)

·         Your favorite room in the house and why it’s important (7:53)

·         Tips for someone thinking about buying a house (9:16)

·         How many properties you can see in one day (13:43)

·         The best part about being a buyer’s agent (16:14)

·         Buyers’ non-negotiables (18:45)

·         Top things Brandy sees on home inspection reports (21:57)

·         ITP versus OTP and the growth of Atlanta (24:29)

·         High rental rates and investing in the future (29:03)

·         The home-owner age is going down (29:22)

Key Points: 

“We pick a couple houses, usually no more than six in the area they’re looking in. We take the time and we go see them. What it does for us is it kind of allows my clients to really understand what square footage is really like and how it can really feel bigger in a space with lots of wide open spaces and how the same square footage can look really small with lots of little rooms.”

“The whole thing about real estate is it’s all about strategy. It’s all about how to leverage your offer to make it look really strong while still being true to what the client really wants and can afford and what the sellers are willing to give and take on it.”

“The first thing I would say is find someone you like and connect with. Other than that, you really want to have an agent that knows the area you’re looking in.”

“That’s the first step, is really figuring out when you want to make the move and if you have a house when you want to get it listed.”

“The second thing that I would say is talk to a lender. Find out where you are on the loan aspect because you don’t want to start looking at houses before you know what you’re looking for.”

“Once you’ve kind of figured out your budget and you’ve talked to a lender and you’ve figured out where you are in the range, that’s when you start looking for agents to talk to.”

“Most people in this day in age are looking at thousands and thousands of properties for months before they even talk to an agent.”

“My favorite thing about being a buyer’s agent is finding the house. When the client walks in and their eyes widen, and they get this little bitty twinkle in their eye.”

“The rental rates are so high now that it doesn’t make sense to rent. Really, you should be putting that money into a mortgage.”

Links:

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

In this episode of The Perfect Property, Juli talks with Emily Cook, an award-winning lender. Emily has over 20 years of experience as a lender and now works with Fidelity Bank in the Atlanta area. 

Emily provides valuable information for people looking to purchase a home and covers where, how, and when to find a mortgage. She and Juli discuss loan programs, common mortgage myths, credit scores, and tips for working with a lender.

 What You’ll Learn: 

·         The truth about down-payment assistance programs (2:24)

·         Do student loans or medical loans count against you? (5:00)

·         VA loans (6:22)

·         Are car payments counted against you? (7:20)

·         Medical loans (8:23)

·         How is credit score calculated? (9:08)

·         Going in on a loan with someone (10:41)

·         Do you have to pay off all your debt before you speak to a lender? (12:09)

·         A success story of one of Emily’s clients (13:03)

·         How often should you check your credit? (14:39)

·         Understanding credit reports from Credit Karma (16:30)

·         The best advice for someone starting on the path of home ownership (17:55)

·         Constant changes in the mortgage industry (19:05)

·         Why you should shop around for a lender (20:30)

·         The importance of good communication with your lender (23:37)

·         Rate volatility and hearing from your lender (24:23)

·         Why you shouldn’t hide things from your lender (25:32)

·         Getting the necessary paperwork to the lender (26:18)

·         Don’t buy things during the lending process (28:37)

·         The process of using gifts from relatives for the down payment (30:01)

Key Points:

“If you think you’re going to buy a house within a year or even two years, it’s good to go ahead and get preapproved.” 

“There are typically three bureaus that report scores: Transunion, Equifax, and Experian. Most lenders use the middle score of the three, so not the high score or the low score; whichever one falls in the middle.”

“On an FHA loan, a 580 would be the absolute minimum score that you could have. On a conventional loan, they want to see a 620. On a VA loan, it will also go as low as 580.”

“They have to look at many factors, it’s not just a credit score that’s going to determine your loan qualifications.”

“It’s impossible to get prequalified without pulling your credit, because everything hinges on those scores.”

“One of the myths I’ve heard over and over is people think that if you have your credit pulled too many times, it will negatively impact your score. This is true and false.”

“Don’t be afraid to allow your top three lenders to all pull your credit as long as you do it in the same time frame, within a thirty-day window.”

“If you bought a house five years ago, don’t expect that exactly how it happened five years ago is the way it is now.”

 Episode Update: Fidelity Bank is now Ameris Bank (2020)

Links: 

Juli’s Email: [email protected]

Juli’s Phone Number: 404-668-8975 (call or text)

The Perfect Property Website. www.theperfectproperty.com 

https://linktr.ee/julistgeorge

Have Questions? Send us a text!

 Acclaimed real estate professional Juli St George presents practical real estate education providing the step-by-step processes and tricks of the trade you need to expertly execute any and every real estate transaction -- and come out on top! Host Juli St George draws from her vast industry experience in Atlanta and around the world and presents the information in a relaxed, informational and fun way. Tune in to learn more. 

The Perfect Property Podcast  is free and available everywhere podcasts are found - it's a winning resource for anyone considering a change or just curious about real estate. 

www.theperfectproperty.com

https://linktr.ee/julistgeorge