Blog | Black Belt Realtor

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  "Saving Money" Is Like The Scariest Game Of Hot Potato Ever

  A topic I’ve been going DEEP on for over a year is hyper inflation and the monster of the federal reserve. Man….even the headline alone is enough to check people out. 🥱 “Ugh….Banking! 🤮. Can’t we just talk about something interesting?” That’s the public sentiment….change the topic from uncomfortable to comfortable conversation. But if the past 4 years have shown us NOTHING else it’s that hold CASH can be a very expensive thing. If you had $100,000 in a bank account in 2020……the buying power of that $100,000 would’ve lost roughly 40-50%. Congrats. The US dollar just cost you 40k. 👎 ....

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  3 Reasons Using The Same REALTOR For Both Parties Could Be Problematic

  Great question! This scenario (known as dual agency) is dependent on each state. In Michigan it IS legal, but it can be problematic (I’ll explain later) In States like Alaska, Colorado, Florida, Kansas, Maryland, Texas, Vermont, and Wyoming it’s directly outlawed. Both the buyer AND the seller need to understand that if you’re being represented by the same agent…..BOTH are giving up some protection. LETS DIVE IN Real estate agents (called REALTORS if they are registered with the NAR and comply with additional code of ethics) have a fiduciary duty to every client. Just like your financial advisor, we cannot act in what’s in our ....

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  "The Real Estate Crash Is Coming!".......Or is it?

  A lot of people remember seeing foreclosures during the 2008 crash (or at least hearing about them). Dreams of scooping a home from the auction for $20,000 still run around in their head like a child at a trampoline park. And while these sales DID exist. I believe most people are not understanding the full story behind these homes. I was there, actively involved in investing at the time. Let me refresh your memory. A LOT OF THESE HOMES WERE IN HARD PARTS OF DETROIT I met the love of my life in a Detroit neighborhood known as Warrendale. (Warren & Archdale area.) If you’ve been around awhile that intersection rings a bell because it was the site of ....

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  Every $100 Saved On My Mortgage Is Worth $228,000?!

  “The time has come” the walrus said……to cut the federal interest rate. Except in this story, the walrus is Jay Powell, the federal reserve chair. And yes, he made that announcement this past week. Which is a great thing for homebuyers! One of the greatest hurdles for prospective homeowners to overcome these days is the interest they'll will be paying on their mortgage….and it makes quite a difference. A 250k home that’s locked into a 3% mortgage….will give you a $1600 payment. (Principal, interest, taxes, insurance included) Compared with the current rate of 6.5% which will bump that to $2,100! That’s ....

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  Understanding The Sh*T Show That Is Property Taxes

  “How come my mortgage went up $400/month?” I’ll get this frantic text sometimes from friends who have purchased a house in the past year…..and I already know the story. Unless they got themselves into an adjustable rate mortgage (which is the DEVIL)….it’s likely that their property taxes just became uncapped with the new sale of their home. Now….very much like anything that the government touches….the confusing topic of property taxes is a complete sh*t show. But it’s an important topic to understand, because it could cost you tens of thousands over the course of your home ownership, if you enter ....

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  So You're Tired Of Paying Your Landlord's Mortage?

  It’s the first of the month, and as you’re writing yet another $1400 check to your landlord for rent, you ask yourself…. “I wonder how much I’ve paid in rent so far to this guy.” 🤔 You do some quick math and realize that after 3 years, you’ve spent over $50,000, simply for the pleasure of renting space in a building you don’t own. 😡 “That’s it! I’m buying a home. I’m sick of wasting my money.” You open your phone and type in, “Homes for sale near me.” You do a double take at the homes listed around you for $200,000 - $500,000 (not uncommon for Detroit metro). ....

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  So You Want To Buy A Home? Chances Are You're 6-12 Months Out

  I’ve been having more conversations than ever with people who share the following sentiment about home ownership. ⬇️ They “Blame the system”. They’re "Being taken advantage of." "Housing should be free to all." 🙄 🗣️ Welp……grab some Motrin, Nancy, because this is going to hurt. Housing (just like anything else) belongs to those who earn it. And typically, people think buying a home is as simple as googling, “Buy Cheap Home Near Me,” then pulling out their credit card. 💳 There’s actually some ducks you need to get in a row before buying a home. 🦆 Here’s A Short List: 1. Your Credit ....

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  $25,000 From Big Brother Becomes Available This Wednesday!

  Look, if you’ve been following me at all, you already know how I feel about gov’t officials’ copious spending addiction. (It’s almost equal to their cocaine and hooker addiction). 🪩 But I’m not a lawmaker, so if they’re going to hand out “Free Money” to whoever claims it first (which I will later be taxed on)……I might as well see if my peeps can benefit from it. There’s a new down payment assistance program launching Wednesday in Michigan……that can get you $25,000! One of the following has to be true: • You identify as a minority. (Yes that’s the exact verbiage they ....

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  Top 7 Unique Valentines Day Experiences & How Did I Open The Door To An Almost $2,000,000 Land Contract?

  BEST VALENTINES LIST! ❤️ For all the gentleman who receive my newsletter I did some homework for you...... If you're doing the normal wine & dine thing.....check out this top ranked list of Detroit restaurants: https://www.hourdetroit.com/restaurants-bars/valentines-day-dining-experiences-in-metro-detroit/ If you're looking to do something unique....check out "7 Romantic Events To Do With Your Valentine" https://secretdetroit.co/things-to-do-valentines-day-detroit/ "WILL YOU ACCEPT PAYMENTS?" How this question opened the door to an almost $2,000,000 offer. There are several reasons land contracts are becoming more popular these ....

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  24 Jan 2024

  How You Can Pay Off Your Mortgage In 4-6 Years, + The HOTTEST City In Wayne County!

  Hey Fam! Welcome to another episode of "Fresh From Fox" real estate newsletter! - (Audio version here if you don't wanna read) HOW A HELOC CAN HELP YOU PAY OFF YOUR MORTGAGE IN 4-6 YEARS! If you own a home….and have a traditional mortgage it could make sense to consider a home equity line of credit. This is a credit line that uses your home as the collateral. It’s different from a mortgage because a mortgage doesn’t let you USE any of the equity you are building in your home until you sell it. If you make a $5,000 extra payment to your mortgage, AWESOME that goes towards the principal but you’ll never see that money again 😂 A home equity line ....

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