Intro to the Nerd
So, yes, my name is Denise, most of you guys know me by the mortgage nerd, and it is because I am truly a nerd. I’ve always been this way growing up. When I was at the age of 12, I had my first job and I was responsible for putting food on the table, keeping our lights on. And I became fascinated with finance and with money and learning the opposite of what my parents did, which was how to make your money work smarter and not harder and strategy.
And and so at an early age, I just studying it, researching it. I started my first business when I was 15 years old and it paid for my college at the best university in Texas, which is Texas A&M, of course, to all the Aggies out there. But I started my business online. It paid for my school.
And then when I graduated, I just again, it fueled my passion of how people are wired, what they think when it comes to financing and when it comes to real estate, how a home can just create that stability for your family life and really help people accumulate wealth. And so fun fact for you guys. Less than one percent of loan officers are what are called certified mortgage planners.
And really the only difference in the two is the education make up behind them. So your average Joe loan officer, they have the education that allows them to qualify clients to make sure that they meet the lending requirements set by Fannie and Freddie to ultimately obtain a home loan for their for their house, whereas a certified mortgage planner has that same loan officer knowledge.
But they also have financial knowledge, like a series seven or sixty three or six that teaches us how to invest money, stocks, bonds, mutual funds, things of that nature. Now, we don’t actually practice investing people’s money. I did back in the day help people with their 401k and broker strategies. But the point is, is that when you’re working with a certified mortgage planner and when your clients are working with a certified mortgage planner, we’re going to take an approach that’s really a full analysis of a financial strategy.
So let me give you an example. I had a client from California, of course, a bunch of people are coming here from California right now. But he called in and he was like, I am going to buy this house for 50 thousand, 20 percent down. And that’s really the only option he wanted to see. And as a subprime mortgage planner, I pulled his credit, looked at all of his debts, and I was like, wow, he’s got a lot of credit card debt.
And that credit card debt is, as we know, high interest rates usually revolving. And so a lot of that payment that they’re making every month for those credit card payments is going towards interest, which I hate, makes me want to vomit. And so although he didn’t ask for it, what I did is I’ve got software that allows me to do a side by side analysis that says, OK, mister customer, let me give you what you asked for. Here’s your purchase price, 20 percent down and here’s what your total financial strategy will look like there.
We fast-forward you in seven years. Here’s what your net worth would look like continuing on the path that you’re on. Or let me show you a different strategy of putting 10 percent down. We’re going to use the other 10 percent. We’re going to pay off that credit card debt. What that did is that freed up a thousand dollars in cash flow, which at that point they could use to either save knock out some student loan debt, which they had, or invest it.
And and so when we did the Fastforward analysis seven years from then of what that net worth would look like in seven years, he was over eighty thousand dollars. He had more than eighty thousand dollars net worth from that strategy versus just all he knew. I mean, I’m sure his parents and grandparents is hard wired into them that you shouldn’t buy a home unless you have 20 percent down, because oftentimes that’s that’s what happens is we only know what our parents taught us.
And so until he was shown a different strategy, it was like, poof, mind blown. He was ecstatic. He was so grateful that somebody took the time to show him the numbers because seeing the numbers is different than just talking about it and makes it tangible. And so the impact that that had for him and his family.
And then you think about from a generational standpoint now with this knowledge that he has, he can teach that to his kids. And it’s all about being strategic and what I call leveraging money smartly. If if a mortgage right now is two point six to five and you’ve got a car loan or student loans or interest rate, that’s higher than that, then your mortgage money is cheaper to borrow than this other debt. And so financial strategy is key.
Absolutely love what I do, I tell people I help people build wealth through real estate, so that is a little bit about me. Let’s go on to Topic two.