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The Road...

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by

Mrs. Ireland

on 20 February 2015

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Transcript of The Road...

Alex Brown (July 2014)
In July, Will and I drove to Sacramento to meet with Alex. Not only was it important for Alex to meet Will (and vise versa), but we wanted to talk about plans for that account.
Josh Diaz (Sept. 2014)
Will and I randomly went to an open house and met Josh.
Stacey Larson (Jan. 2015)
Stacey Larson is a mom of a few fantastic HS kids. We do YL club at her house. She heard we were starting to look around at houses, and she wanted to meet with us to just TALK about what the process is. I felt very well taken care of.
Napa Houses
Ideas
1) Buy a $300,000 that will definitely need some renovations.
We would need cash for the renovations
This house may not exists with the non -negotiables (It will be very hard to find this price in a GOOD neighborhood)
Financials
Preapproval
= $440,000, with a $110,000 deposit

Comfort levels:
Down payment = $80,000
Mortgage = $2,400

Rates:
Stocks = 4.75% (as of September 2014)
Loan = 3.75%
(it would be beneficial to keep as much as possible in the stocks)

Inheritance
:
In 3 years, Will is going to inherit $80,000-$100,000
Thank You for Listening
Questions? Comments? Thoughts? Feelings, Opinions?
GOAL!
The Road...
to owning our first home!
Alex was the first person (besides mom) who suggested we use a chunk of the money to get on the "real estate train".
We started to consider it...
He is a well respected realtor in Napa Valley who has been doing this for many years.

We have found him to be reliable, patient, supportive, and helpful. He is a good communicator and understands our requirements.
Since meeting Josh, we've independently been looking at what the value is for prices here.

She has preapproved us for a loan.
And she is walking us through all the necessary steps.
She has met Josh and feels very confident in him as well.
Non-negotiables
:
1) A backyard
2) 3 bedrooms, 2 bath minimum.
3) A good neighborhood
4) Fireplace
5) A large living room
Would be nice:
1) Central Heating and A/C
2) Hardwood floors
Any other thoughts?
2) Buy a house in the $400,000 that will probably need some renovations.
We could use cash for minimal renovations.

Or we could use cash to lower the down payment. Therefore we would be able to save from our paychecks to make the renovations when we've saved for them.
3) Buy a $500,000 -$550,000 that would not need renovations.
Full transcript