How to get started in real estate? Your first house. Did you know that real estate is the
single most way that most Americans build wealth? Statistics show that 89 percent of
all millionaires were created so through real estate. But there are so many groups that are
lagging behind. In fact, in the African-American community, it shows that only 44 percent of Black
Americans own a home, and just a little bit more for Latinos. Well, we need to change that because
all groups need to know that real estate is the number one way to wealth, and it's really easy to
buy your first home, and I'm gonna share with you the secret ways to get it done. Let's go.
I'm going to share with you a simple step-by-step process on how to buy your first property and by
a profitable one. I'm going to share with you a hidden trap in the mortgage process that really
holds people up and show you how to avoid that trap, and I'm going to share with you a big
secret on how to buy houses right now in this year with no money down. There are so many benefits
to owning real estate. Real estate again is the number one way to wealth, and this is because of
three main things. The first one is appreciation. Real estate traditionally speaking will go up in
value over time. It's not like a car or clothes or other things that you buy. Traditionally speaking
real estate will grow in value over time. Because the cost of materials to buy a home gross over
time. Additionally, real estate has something that has a site value, the land. You are not able to
just copy real estate each piece of property is unique in its own location and site. So, it has
this value to it that just cannot be matched. The next thing when it comes to real estate is equity.
As you are paying down that mortgage payment, you are gaining equity in the property. Like I said,
the property is going up in value. But as you are paying down the mortgage, you're also growing your
equity. This will grow your net worth, and the third thing with real estate is it has the ability
to cash flow. More so than almost any other asset that I can think of. You can rent out a property,
and most people need a place to live. No matter what kind of cell phones, laptops,
and technology that comes about. We still need a place to live. So, real estate will always
be something that someone needs to have. Even businesses need real estate. Not every business
can be run virtually and you still need real estate. So, even commercial real estate is a great
thing to have. Real estate is the number one way to wealth because of this, and you can definitely
start buying houses without using much money. So, let me tell you how you get that part done. So,
the traditional mortgage process usually requires you to be qualified for a mortgage. In fact,
many of you don't know this. But I worked in the mortgage industry for over 15 years.
I was literally what we called a processor, and then an underwriter. Meaning I was the one that
would approve or decline people's mortgages. I would have to look at people's credit report,
their income, their asset, and basically their ability to repay the loan. The collateral of the
home was also, something that we would look at and we would review appraisals to see if the property
met our standard. But when we were qualifying borrowers or people that had applied for a
mortgage loan. It was super important that they made enough money that they had stable income,
and we defined stable income of at least two years of employment without any gaps. Usually,
we also like borrows that were W-2. Meaning they received a pay stub or a paycheck every two weeks
or two times per month. We really like to make sure that they had stable income that was always
coming in. Although we did lend to people that were self-employed or contractors and things
like that. We really loved people that had a W-2 job with no gaps in employment, and that was an
easy way to get approved. Additionally, we would check your Bank statements to make sure that you
were saving enough money, and that you had enough money, not only for the down payment but also that
you have what we call reserves. Meaning some money left over in case something went wrong. We would
also check to make sure that not only did you receive that money that you had also filed your
taxes. That was a very important piece. Making sure that you not only received the money via
your W-2. But also that you have paid your taxes timely, and that the IRS was not going to come
after you. Going through the traditional mortgage process could be quite a daunting process. They
will ask you for not only all of your Bank statements, all of your pay stubs. Your W-2s.
Your tax returns. We would even ask for different letters of explanation to explain different things
on your credit report. For example, if we had saw that you had different inquiries on your credit
report. You had applied at a different places for different loans. We would make you explain in a
letter why you had done that. If you had moved two or three times in the year. Even in the two years,
we would ask what those addresses were and who those people were? It's a very daunting process
for many people, and most people would give up. But let me be clear. Banks are looking to lend
money and they do really want to approve the loans. A lot of times people would just give
up and not submit the documents that the Bank was asking for, and in many cases, if they just
submitted the document. Even if it wasn't exactly what we were looking for. We would accept it,
and try to make exceptions to approve the loan. Because again, this is how Banks make money. So,
do not fall into the trap of thinking that you're not going to get approved, just because they keep
asking for things. It's just the process and they just are making it a little bit more difficult
to really make sure that you qualify for the loan and you're going to be able to repay the
loan. Banks want to lend you the money for the mortgage, please believe that. So, please keep
going with the process if you ever find that you feel like you want to give up. If you've gotten a
conditional approval and they've given you some conditions and asked you for some documents.
Do your best to submit those documents and keep going with the process. Getting your first home
is a daunting process. But it does get easier and easier, and the next loan will be easier than the
first. It's usually, your first loan, that's the hardest one to get approved for. So, let
me tell you some other ways to get approved for a mortgage that do not require going to a Bank. So,
let me know below if you've actually applied for a mortgage. I used to work at Bank of America, Wells
Fargo, even Chase Bank in the mortgage department. So, I know tons about mortgages. Let's have
a conversation and let me see if I can help you get approved for your new mortgage loan. The next
thing. So, what if you don't qualify? Now, that I've explained the entire mortgage process. You
may be thinking wait Noelle, I don't have all of those things. So, I'm not even going to bother to
apply. Well, there are lots of different options for you. Just because you do not qualify for a
traditional mortgage, and when I say a traditional mortgage. I mean, a conventional loan or even a
government loan like an FHA loan, a USDA loan, or a VA loan, which is specifically for veterans.
Those are traditional mortgages that you can go to a Bank, and in many cases, they are backed
by either Fannie Mae, Freddie Mac, or they are backed by the government like FHA. You will not
go directly to the government to apply for those loans. You will go to a Bank. But in many cases,
they have more lenient guidelines. So, you can get approved. When I came out of bankruptcy. Once
I left my parent's basement and I decided that I was going to buy another home the traditional
way. I had a bankruptcy on my credit report, and I have multiple foreclosures. Many people would
think. Oh, wow! You're not going to qualify for a government mortgage. Well, I did, I did qualify
for FHA loan, and in fact, I even have what's called my de-certification. Meaning I am certified
to approve FHA loans. When I worked in mortgages that is the type of loan that I did all the time.
I would see lots of FHA loan applications and I approved tons of people for FHA mortgages. You can
get qualified for FHA mortgage with a little down payment and even use a down payment assistance
program. You don't even have to have great credit or a great job and make a lot of money. There are
tons of loan options out there for you. So, do not think that you don't qualify and you can't get a
loan. You probably can. You probably are just going to need a little bit of help. One of the
things that I recommend is not going directly to a big Bank like Bank of America, Wells Fargo, or
Chase. Now, I know, I told you, I work for those Banks, but I'm going to be really honest with
you. When I got my own FHA mortgage. I went to a mortgage brokerage. Meaning a mortgage company
that had multiple lenders that they could submit my application to. I'm gonna put a link below for
one of my mortgage broker friends and they have lots of different Banks that they use and they
lend in 41 States. This will give you a lot more options when you're looking to get approved for a
mortgage, and you don't have to worry about going to one Bank, giving them all those documents, and
then if they say no, you have to go to one other Bank and do the exact same thing. If you go to
a mortgage brokerage, they will look at what you have. They will decide which lenders best fit your
situation and they will submit your application, and many times to multiple lenders to get you the
best deal. Again, I know, I used to work for the big Bank. But if you have a situation where you
think you don't have great credit. You don't have a great employment. You may have a bankruptcy or
things like that, that are challenging. I suggest going to a mortgage brokerage, and like I said,
there's a link below to my mortgage broker friend that can help people in those 41 states that
they're approved to lend in. Now, as promised, I'm going to share with you a big secret on how
to get your first home without even going to a Bank. Now, that I've explained to you the whole
banking process and even mortgage brokerage. Let me tell you about how I got rich in real estate,
not even using Banks or lenders at all. I will focus on people that have property problems
and I would buy properties. Subject to or use lease purchase options to buy homes, and that's
how I got dozens of rental properties to build my portfolio and quit my six-figure job. I would send
out letters to people that were in foreclosure, bankruptcy, divorce, probate, or other types of
property problems, and I would tell them that we buy how houses for cash, and then I would have
a business where I had business lines of credit, business funds, and I was able to use that money
to buy those houses from them without ever using a Bank and take over their mortgage payments. it's a
long system. It's really easy to do. But I'm not going to be able to get into it in this video.
I have an entire playlist where I teach you how to buy homes subject to and use lease purchases,
and I even give you all of the documents to get it done. If you go to noellesfreegift.com. So,
go to noellesfreegift.com, get those documents and watch that playlist. So, you can learn exactly how
to find people with property problems and how to buy homes without using Banks or lenders,
and how to use business credit if you need any money to get the deals done. So, I have
created this book called Real Estate Millionaire Secrets, that I can give to you absolutely free.
That will teach you everything that I went over in this video and even more. You can get this
book absolutely free, and in this book, I teach you how I went from my parent's basement to the
multi-millionaire in real estate that you see today. This book has not only templates, graphs,
charts, but scripts. It gives you everything that you need step by step to get it done,
and you can get this book absolutely free. Just go to noellesfreebook.com, that's Noelle with an S,
noellesfreebook.com and get this book Real Estate Millionaire Secrets. So, you can learn how to be
a real estate millionaire starting from scratch. I just want you to have all of the resources, all of
the tools, and all of the knowledge that you need to be successful. This is Noelle to your success.